Millennials and their role in the workplace continue to be ahot topic for discussion across most industries. I don’t necessarily like tosingle them out, but the reality is that they represent the largest generationin the workforce, and are projectedto make up nearly 75% of it by 2030.
Forbespoints out that Millennial employees average about two years at a job, comparedto three and seven years for Gen X and Baby Boomers, respectively. Thispresents companies with an opportunity. How do we engage these savvy,forward-thinkers and retain them to innovateand grow the business? It needs to be done in a waythat captures their entrepreneurial mindset.
First and foremost, they need to believe that managementbelieves in their growth and ability, so focusing on building a real relationshipis key. Invest some time to get to know them, while also boosting moralethrough things like company sponsored happy hours, outings, and services in theoffice. Find out what their goals and what inspires them. This will go a lot farther than you think.
Another way to keep Millennial employees engaged is by offeringfrequent feedback. They thrive on consistent check-ins, status updates, and continuous coaching. HarvardBusiness Review citeda study that shows Millennials want feedback 50% more often than otheremployees. That same articletells us that while Millennials have been found to have higher self-esteem,they also have more anxiety and greater need for praise.
Make it meaningful
Whilewe all understand the importance ofbuilding genuine relationships, we should use positivereinforcement, and sincere praise as a way to engage, motivate and inspire great work from them.
We should also empower them to take calculated risks toappeal to their innovative mindset. Let them know it’s OK to make mistakes you can recover from, after all, that’s probablyhow you got to where you are, right? When a boss or manager connects with the entrepreneurial spirit, it will help unleash each employee’s creativity.
Millennials welcome challenges and the opportunity to moveforward. Knowing that their contributionsare valued provides them with meaning andpurpose and is a big motivator for these critical thinkers. This coupled with a line-of-sight of forward mobility within the company will help them stay. As Harvard Business Review suggests,coaching employees isn’t about tellingthem what to do, but helping them to achieve all that they are capable ofdoing.
It’s no secret that Millennials are the future of ourcompanies. To ensure business results, provide them with a culture that sets them on a compelling and progressivepath of achievement and success.
For more resources about engagingyour employees and to access importantengagement strategies for both millennials and all generations in yourworkforce, visitus or talk to a Marketing Innovations solutions expert today.
Hbr.org: Millennialswant to be coached at work. February 27,2015.