Monday, May 23, 2016
Good morning,
In 2015, Millennials became the largest share of the American workforce, according to The Pew Research Center. In fact, Millennials will make up 75 percent or more of the global workforce in little more than 10 years.
Why should you care? Well, if your workplace is crawling with Millennials, you want to consider how culture and the way you engage them will impact your business, satisfy your customers, and keep stakeholders happy.
If you really want a competitive edge, there are some dumb moves that, as managers, you just…don’t…do.
You ignore them and treat them like they’re invisible
That’s one way to discourage your talented Millennials. If you’re hoping to keep them engaged, get ready to start talking about their work — a lot. And not the kind of conversations that only happen once-a-year in those dinosaur-era performance evaluations.
That’s one way to discourage your talented Millennials. If you’re hoping to keep them engaged, get ready to start talking about their work — a lot. And not the kind of conversations that only happen once-a-year in those dinosaur-era performance evaluations.
In one report published by PeopleFluent last year, half of all Millennials surveyed are saying that they do value performance reviews, but at least monthly, if not more frequently. Only 9.8% prefer the annual version.
The focus for managers worried about carving time to do this should be on making your feedback shorter, more frequent, and constructive. This is what Millennials want.
You don’t mentor or coach them
The same PeopleFluent report found that up to 78 percent of Millennials want mentors to help them feel more engaged with their organization.
The same PeopleFluent report found that up to 78 percent of Millennials want mentors to help them feel more engaged with their organization.
This not only means structured mentorship programs, but also informal instruction from more experienced peers and colleagues while learning on the job.
You don’t recognize them
Did you know that receiving recognition is the most important performance motivator? Sure, a paycheck or a bonus is good, but that money will be spent tomorrow. But being recognized in front of the organization for the hard work that you put in? That’s gold, because everyone can then see the value that you’re bringing.
Did you know that receiving recognition is the most important performance motivator? Sure, a paycheck or a bonus is good, but that money will be spent tomorrow. But being recognized in front of the organization for the hard work that you put in? That’s gold, because everyone can then see the value that you’re bringing.
Millennials have a particular sensitivity to recognition.
You don’t provide leadership advancement
Contrary to the false impression that Millennials are lazy and unmotivated, research has proven that they are very much interested in leadership positions and rapid career advancement.
Contrary to the false impression that Millennials are lazy and unmotivated, research has proven that they are very much interested in leadership positions and rapid career advancement.
In one massive joint-study conducted by Universum, INSEAD Emerging Markets Institute and theHEAD Foundation, nearly 70 percent of Millennials across the globe say achieving a manager or leadership role in their careers is important.
Key point here: They value the opportunity to influence the organization for which they work.
You don’t give them decision-making privileges
If you want to keep the needle moving on those employee satisfaction scores (and I hope you’re smart enough to do so), your first priority is to build employee loyalty with your Millennials. How? Allow them a seat at the table to make decisions and exercise influence over things that matter in the business. Think of projects, tasks, and meetings that you can involve Millennials about strategy, mission, and culture.
If you want to keep the needle moving on those employee satisfaction scores (and I hope you’re smart enough to do so), your first priority is to build employee loyalty with your Millennials. How? Allow them a seat at the table to make decisions and exercise influence over things that matter in the business. Think of projects, tasks, and meetings that you can involve Millennials about strategy, mission, and culture.
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You don’t provide them with opportunities to volunteer
According to the 2015 Millennial Impact Report conducted by Achieve, Millennial employees love to volunteer. What does that have to do with work, you say?
According to the 2015 Millennial Impact Report conducted by Achieve, Millennial employees love to volunteer. What does that have to do with work, you say?
Well, they also found that Millennial employees are more likely to volunteer if they can leverage their skills or expertise; therefore, companies that get the connection to retention are offering these perks.
Millennials see the benefit of incorporating skills-based volunteering to keep their skills sharp while giving back to the community. Win-win.
This is great for your branding and recruitment strategy, and will attract Millennials like flies to spilled soda.
The generational preferences of these digital natives matter, and you should care. They will increasingly impact talent decisions and business outcomes over the years.
Make it a great day!