Joshua Fredenburg is a Nationally Recognized Speaker, Author of Five books, Tedx Speaker, Television Guest Expert, and President of the ‘Award- Winning’ Circle of Change Leadership Conference.
As a speaker, Joshua specializes in leadership development, inclusive leadership, E-Leadership, Generational Issues, Diversity, and Retention Strategies for Leaders of Millennials within the Workplace.
For the past twelve years, Joshua has not only served as a guest speaker in 44 different states across the nation, but he has transformed the lives of thousands of people as a keynote speaker, workshop presenter, trainer, and facilitator. Joshua’s pride and joy is his wife and two wonderful children!
Over the past year, I have been diligently working on my dissertation. It is focused on discovering the impact that transformational leadership has on the volunteer retention of virtual, millennial students. As you might imagine, I have read different articles on leadership, retention, volunteer motivation, and millennials, and there have been moments within my research where I have discovered some fascinating truths and insight in various areas.
Shockingly, this happened a couple of weeks ago when I got to the part of my research where I began to focus more on virtual teams, virtual volunteers, and virtual leaders. Although I learned some valuable retention strategies it was while researching, I learned about a relatively new leadership concept entitled, E-Leadership. E-Leadership, coined by (Avolio et al., 2001), and defined as a social influence process mediated by advanced information technologies to produce changes in attitudes, feelings, thinking, behavior, or performance of project teams, including individuals, groups, and organizations. In effect, E-Leadership is a skill that is used by leaders to assist them with leading more effectively through the use of technology devices such as videoconferencing, online collaboration software, conference calls, social media platforms, chat-rooms, and cell phones.
So you just hired a bunch of millennials? What can you do to ensure they stay with your company past a few months? According to various researchers on this subject matter, employershave found it very difficult to retain Millennial workers and the U.S. Department of Labordiscovered that from 2004 to 2014 individuals between the ages of 20 and 24 stayed with anorganization for 1.3 years while the average employee between the ages of 25 and 34 stayed with an organization between 2.9 and 3.2 years.
Although these numbers have gotten better over the past two years, the U.S Department of Labor stated in January of 2016 that individuals between the ages of 18-35 years of age had an average tenure of 1.6 years per job. In addition to these studies, other experts on this subject matter have sought to discover why the turnover rate is so much higher with Millennial workers because the cost of turnover can be more than 150% of a lost employee’s annual salary.