Employees Will Work for Less $$$

By 2025 most projected models state that about 75% of the workforce will be . . . MILLENNIALS! I know a couple of business owners that are terrified of that thought. If that’s you, let me share a few facts and suggestions to help you prepare for the inevitable.

TRUUE reports that millennials rate work culture 8.5/10. If that stat doesn’t get your attention, this TRUUE quote should, “What’s more, millennials on average are willing to give up $7,600 in salary every year to take a job that is a better culture fit for them.”

In the Gallup report, “How Millennials Want To Work and Live,” the survey states 87% want professional growth and development. Professional growth and development is a crucial element in creating an influential and healthy corporate culture.

Here’s why businesses should create a strategy for developing their leaders and team members:

  • There is an increase in job satisfaction
  • Morale is boosted when employees feel the company is investing in them
  • Employees are more motivated
  • Training and development creates the mindset that the employee is valued
  • Efficiency in the business is increased leading to more productivity and lower costs
  • Regular training and development creates an atmosphere where new ideas and change are more readily accepted and applied
  • When good employees feel stagnant, they leave

There is a cost for training and development. BizLibrary, who also quotes the Gallup survey, states, “When employees don’t feel valued and developed, they become disengaged, and loss of engagement always equals loss of money. Gallup estimates that $300 million is lost each year due to actively disengaged employees.”

A quick summary, a TRUUE survey tells us that millennials would work FOR LESS in a culture that fits them. And BizLibrary states that when employees don’t feel valued or developed, they disengage, which costs the business money, lending to Gallup’s $300 million estimate.

  • What is the value of a healthy culture to your business?
  • What is the cost of recruiting and training a new employee?
  • More importantly, what is the cost to your business in time and money when an experienced employee leaves?

As a Dual Track consulting firm, DREAM4 is in a unique position to work with everyone in your business, both top-down and bottom-up. We understand how vital a healthy culture is to the entire workforce and your clients.

Currently, 88% of our professional and personal participants have improved or achieved a goal. We also carry a 100% client retention rate.

Are you prepared for the MILLENNIALS? Read our blog from last week for more employee retention strategies and let us help you answer that question with a confident, “Yes.”

Frequently Asked Questions

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  • What's the difference between personal coaching and leadership coaching?

    Personal coaching focuses on individual growth and development across various professional and personal dimensions. Leadership coaching specifically targets skills needed to effectively lead teams, including delegation, motivation, and strategic thinking.

  • When and where do coaching sessions take place?

    Coaching sessions take place during work hours while team members are on the clock at intervals that best suit your needs. Our regular cadence of coaching is every 4-6 weeks, though we customize frequency based on goals and timeline requirements. Coaching can take place online via virtual meetings, or over the phone. Local clients can opt for in-person coaching.

  • What are the benefits of coaching?

    Coaching provides a structured approach to personal and professional development, helping people solve real problems while gaining skills that benefit both their careers and personal lives. Organizations see improved retention, satisfaction, and productivity.

  • How long does a typical coaching engagement last?

    Most organizations see optimal results with a 12-month initial engagement, though we offer flexible terms from 3-month to multi-year partnerships. This allows for meaningful behavior change, skill development, and cultural transformation. Many clients continue beyond their initial term as they see the ongoing value of supporting their people’s growth and development.

  • What is the ROI of coaching?

    Organizations implementing our coaching programs typically see measurable improvements in employee retention, productivity, and engagement. Our assessment tools provide concrete data on progress and growth throughout the coaching relationship.

  • Is the coaching process confidential?

    Yes, confidentiality is a cornerstone of our coaching relationship. While overall themes and progress may be shared with management (with permission), specific discussions remain private between coach and participant.

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