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How to Keep Millennials From Getting Bored and Quitting

September 3, 2014

Check out this recent article from Bloomberg Businessweek on managing millennials:

Question: I’m having challenges with attracting and retaining younger employees. Do you have any thoughts about keeping millennials interested and challenged so they don’t jump ship after 18 months on the job?

Answer: millennials—those born between about 1980 and 2000—are the largest U.S. generation since the baby boomers. Simply by virtue of their numbers, they are poised to make up 75 percent of the U.S. workforce by 2025. So learning how to work with them and keep them on staff should be an important goal for every employer.

Certainly, if your company is not paying competitive salaries or hourly wages, it should come as no surprise that employees in all age ranges are jumping ship for better money. Ask those who are quitting if they would stick around if you gave them raises. If money proves to be a major issue, take a look at what you’re paying across the board and you’ll improve your retention rates immediately.

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When Does a Customer Actually Become a Customer?

September 2, 2014

Check out this recent article from AllBusiness Experts on defining “The Customer”:

For most businesses a customer becomes a customer when they buy a product, sign a contract, or agree to terms of a deal. But I wonder if that view of the journey to convert leads to sales misses the bigger reality.

What if, just for conversation sake, you began to view someone looking into your services as a customer. Or, better still, someone just beginning to talk about what they learned at your free workshop as a customer?

Now, it’s true, neither of the above “customers” has paid you a dime, but what if you began to run your entire business as though your job was not one of selling someone, but one of doing everything you could to build trust in those who expressed interest?

What if that group became customers in your mind at that point and you created tools and processes to start serving them right then and there?

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