Millennials are set to make up 50% of the workforce, and have very distinct ideas about what they want from a job. There’s plenty of myths about them too that don’t help their reputation. That they’re lazy, always on their phone, high maintenance job hoppers, for starters. It’s no wonder managers are worried about hiring, and holding onto the millennials in their business.
But the truth is that the millennial generation – aged 25 – 40 years old – present a huge opportunity for the 21st century workplace. An opportunity to modernise, digitally transform, and collaborate much more effectively. They can also help bridge the generational divides in your business. Their talent just needs to be recognised, and channelled in the right way. And with London’s outer boroughs like Croydon fast becoming millennial hotspots, this is a gold mine for the smart employer, just waiting to be tapped into.
How are millennials different from other generations?
The institute of Leadership and Management (https://www.institutelm.com/resourceLibrary/workforce-2020-managing-millennials.html ) argues that millennials need to be managed differently from generations before. So what are their key characteristics?
Millennials don’t just want a good salary, they want to do interesting work and the opportunity to progress through a business. Having the opportunity to give, and receive feedback, is key but they prefer a manager to be more of a coach than an authoritarian. Someone who motivates more than managers, who encourages rather than controls.
Millennials also want the opportunity to work across different teams and projects, work flexibly and get actively involved in business development. They care passionately about issues such as the gender pay gap and social responsibility and expect a company to live up to their values, be open and authentic. Millennials will work hard for your business, but they expect it to be two-way street. Working to live, rather than living to work is very much their mindset.
So how can you keep millennials happy?
Give them a platform
People need to know they can speak up and be heard. Give space and time for structured feedback in meetings, with a clear commitment to follow up. 360 appraisals can also be useful for developing a more open and culture where personal development is valued.
Stretch their abilities
Reward strong performance with more responsibility as well as informal opportunities to learn from more experienced colleagues. Encourage people to present their achievements in meetings and contribute entrepreneurial ideas.
Make them active participants in your company’s vision and mission
Ask for feedback on your company’s development and offer an active role in strategy design. Take advantage of millennials knowledge of social and online trends and feed this into your workplans and overall communication strategy.
Create genuine opportunities for work/life balance
Explore volunteering, sabbaticals and job sharing alongside flexible working policies. Also encourage millennials to network beyond the organisation for example within professional bodies and professional groups online.
Integrate technology for meaningful two-way communication
Using technology can improve collaboration and communication between staff and managers. Software such as Slack, Microsoft Teams and Trello as well as WhatsApp for more informal team chats. BreatheHR is HR software that can also be used to plan appraisals and recognise achievements. Tap into millennials’ tech preferences to streamline the way you use technology right across your business.
Use DiSC Profiling
Help your team to better understand their own behavioural preferences at work and easily identify the traits and behaviours of others. This tool helps teams to build stronger relationships, deliver better results and communicate with ease and understanding.
For advice on how to hire and manage the staff in your business successfully, please contact us for a chat https://hroverload.co.uk/contact/