The work places of the contemporary organizations are dominated by the millennialrnworkforces who are coming up with their own distinct needs, desires, characters andrnexpectations. The old fashioned attraction and retention strategies of â€˜one-size-fits-allâ€™ wouldrnnot be appropriate to the young workforce in todayâ€™s multigenerational workforces. Thisrnstudy examined the effectiveness of managing the millennial workforce in Commercial Bankrnof Ethiopia: the case of Addis Ababa City Area. After a deep review of theoretical andrnempirical sources a conceptual framework of the study has been developed and then fivernindependent variables have been identified to meet the intended purpose of the study. A crossrnsectional survey of self-administered questionnaires was prepared to collect relevantrninformation from randomly selected 258 sample participants. Among this 248 questionnairesrnwere effectively collected and analyzed. The collected data was analyzed by SPSS version 22rnusing descriptive statics and multiple regressions. Descriptive research design was deployedrnto describe what the situation looks like whereas correlation analysis was used to show thernrelation between dependent and independent variables. Hence, all independent variablesrnhave positive relationship or correlation with the dependent variable of attraction andrnretention. Based on the result of multiple linear regression variables like continuous feedbackrnand recognition, management style, the nature of the work and opportunity for learning andrncareer development have positive and significance effect on the management effectiveness ofrnattraction and retention of the millennial work force. Finally conclusions have been dawnrnbased upon it recommendations have been forwarded.