Millennials or Generation Y is a demographic term for those who were born between the years 1980 and 2000. These future leaders will make up 75% of the global workforce by 2025.
It is important to know what Millennials expect in order to establish a work culture that makes them feel satisfied. The expectations of millennials are very different from those of the previous generations.
The Baby Boomers, who were born after the Second World War were happy with monetary incentives such as a good retirement and promotion plan. They liked being in positions of authority.
Generation X that followed the Baby Boomers preferred to work individually than in teams. They also appreciated monetary benefits such as stocks and bonds and they were driven to work hard to enjoy later.
With Millennials, it is discrete because they were born in an era that saw a technology boom, needless to say, that they are extremely tech-savvy and love social media. Their mindsets are very different from the previous generations as they want to enjoy while at work than after retirement. They like to be mentored, trained and receive frequent feedback. According to an IBM study more than half of the Millennial workers preferred to work in groups than individually which indicates that their productivity is higher when working in a team.
Understanding the traits of Millennials is the cornerstone to devising strategies to engage them. As per Forbes, 91% of the Millennials don’t expect to continue working in a company for more than 3 years. Looking at such statistics what we should really avoid doing is boring them. Break the monotony and create an environment that makes them want to wake up and be motivated and excited to go to work. The day the employee is no more excited to go to work, you have lost engagement and are very likely to lose your employee very soon.
Listed below are a few things one should note while dealing with Millennials to effectively engage them.
EMPOWER THEM WITH CONSTANT FEEDBACK
Millennials want constant feedback and not delayed evaluations. They want to be constantly recognized and appreciated for their work. They are also open to constructive criticism but it needs to be timely and not only once a year.
Giving them frequent feedback assures them that they are moving in the right direction. Millennials are very excited to execute the tasks assigned to them. They are always waiting to hear what you think about their work. A manager’s opinion is very important to them.
Befriend them instead of playing the boss card
Millennials want their managers to mentor them as a guide and friend and not constantly instruct them like a boss. They like to keep their relationship with their managers more casual than strictly formal. They want to work under someone who is helpful and easily approachable.
This generation of employees expects clarity from their manager. They also like to know the reason why they are being told to do those specific tasks. Having casual conversations with them will give managers insights on how to engage them.
Don’t deny the use of technology
Millennials are very tech-savvy since they were born in the digital age. You cannot practically take back something they were born with. Denying them access to mobile phones or restricting certain social media platforms will make them dull.
Instead, you can give them an internal social recognition platform which will make them feel like they belong. This will also deepen their connection with the organization and colleagues.
Ensure perfect work-life balance
As the age old saying goes, “All work and no play makes Jack a dull boy.” When Jack does become a dull boy he decides to quit. Not a very rosy picture, right?
In order to retain Millennials, you need to understand that they have a life outside of work. Flexible hours needs to be incorporated as long as the work is done.
The traditional way of completing the daily number of hours come what may is stale. If they have finished their work there is no need for them to stay any longer just sitting at their workstation doing nothing. This shift is something that might not be an easy decision to make for an organization but it is a must to make this generation happy.