As college seniors graduate and are starting to look for their first “real job,” your business needs to be prepared.
5 Reasons to Invest in Millennials
The millennial generation has this stigma of jumping from one job to another, thus, increasing the turnover rate. According to the Bureau of Labor Statistics, the average tenure for millennials in the workplace is 2.8 years, compared to 10.1 years for Baby Boomers, but there is a valid reason for this decrease in tenure. Millennials desire growth, community and a sense of purpose within their job.
To help combat the high millennial turnover rate and make your business more attractive to the largest generation in history, here is the ultimate cheat sheet on Millennials in the workplace that you should implement within your organization:
1. Active Interpersonal Communication:
Communication is key for a successful workplace, especially with millennial employees. Avoid passive-aggressive language and say what you mean. Also know when it is time to stop speaking and start listening. Millennials, and other generations, want their voices to be heard. They want to feel like their opinions matter and that they have a say in the project at hand. Millennials also come with a fresh perspective and new ideas, so listening to what they have to say could really benefit your company.
2. Vision for Growth Path:
One of the reasons Millennials change jobs so frequently is that they don’t see a future with their current company. If they feel stuck doing the same thing day-in-and-day-out, then, they will have a desire find a job with more growth potential. Have a vision of growth for your employees so they can see the opportunities ahead and give them an incentive to stay and invest in your company.
3. Community Engagement Opportunities:
Millennials crave community and engagement. They want their job to feel less like work and more like doing what they love. They also want a meaningful job where they feel they are fulfilling a purpose and making a difference. Getting out into the community and doing volunteer work as a group, builds teamwork and makes your employees feel like they are making a difference in the community they live in.
4. Don't Micromanage
It doesn’t matter how something gets done, it is the end result that matters. Millennials have a different work ethic and different ways of doing things then other generations. Let them work the way they do best and evaluate the end result of the project. Giving Millennials the freedom to work the way they they feel they can be more productive will not only make them enjoy their job more but also yield better results on their projects.
5. Be a Leader, not a Boss
Millennials want someone to mentor and lead them to be the best they can be, not someone who just tells them what to do. They will build resentment and dissatisfaction to a boss, but admire and respect a leader. Millennials need validation, approval and respect in their work to feel confident in their success within the company.
6. Millennial-friendly Environment
Your work environment needs to be Millennial-Friendly both physically and atmospherically. Physically there should be open spaces with high ceilings (if possible) and offices with movable furniture. Millennials get bored with the same scene everyday so giving them the ability to change their surroundings will increase job satisfaction. Also, having the environment of open doors and active communication will create an atmosphere of acceptance and aid in releasing the stressfulness of walking into the office every day.
Millennials have a very active social life outside of work. Their lives revolve around friends and family more than their jobs. So, providing flexibility when they come into work and more flexible time-off will make them feel like they have a sense of control. It is more important that their projects are done in excellence and in a timely and sufficient manner, not that they are in the office from 9am-5pm. If your employees have the flexibility of time to have an active social life and take vacations without worrying about their rigid, company impossed vacation timeframes, then they will be less stressed and have a more positive attitude when they are at work. A happy employee equals a better ROI.