Reality: Millennial employees are willing to put in the time to do the job, however they are uninterested in "face time." Gen Xers and Millennials view time as a currency.
While Baby Boomers tend to see time as something to invest, the younger generations view it as a valuable currency not to be wasted. These are the generations that demand work-life balance and paid time off. They want to get the job done, then put it behind them and enjoy life
Boomer managers have a tendency to lose the interest of their Millenial employees by looking too far into the future. Millennials live in the time frame based on right now. Their world has proven that nothing is a guarantee - from nationwide layoffs to war to soaring divorce rates, they have decided that there's not a lot you can count on.
As a result they are not interested in promotion plans for five years from now. They don't even want to know what will happen at the end of the summer. Life is uncertain. To reach the Millennial employee and reduce turnover, make it certain.
Tell your employee that you have a plan. Take pains to ensure it is in a time frame short enough for them to envision. Be prepared to fulfill your promise - once fooled, the Millennial employee is forever jaded.
This approach feeds into their reality, while simultaneously building trust and buying you more time. Reward small successes along the way, string these milestones together, and you will soon realize longer tenures among your staff.