Managing Millennials in the Workplace
Millennials are individuals born between 1981 and 1996. Now aged between 22 to 37 years old, they are expected to make up 75% of the global workforce by 2025.
However, as of end-2017, employee turnover among millennial employees remain high. In the United States alone, millennial turnover is costing the United States economy around US$30.5 billion annually. Global performance management consulting firm Gallup has even dubbed millennials as “The Job-Hopping Generation” due to their propensity to switch jobs.
Gallup research conducted in 2017 also revealed that over 20% of millennial employees change careers within 12 months, and that six in 10 millennial employees are open to new job opportunities. This high turnover rate, however, has not been attributed to better compensation and benefits elsewhere but rather to low engagement in their current workplaces.
Beyond the pay increase and the unique perks, the key to retaining the best millennial employees is to manage them well. When properly managed or supervised, millennials have a lot to bring to the table. In fact, they can even become the best-performing employees due to their inherent youthful characteristics such as energy, creativity, flexibility, and agility, among others.
Want to retain your best millennial employees? Here are some tips on how to manage them well and engage them in the workplace.
1. Provide immediate feedback about their work.
“Immediate feedback is important to me, both positive and negative,” says Denise R.*, 23 years old, graphic artist. “Feedback helps me to know more about myself, about my strengths and my weaknesses, and how to improve the work I am doing.”
Millennials appreciate constructive feedback and criticism that are both specific and actionable. As such, if one is to give feedback to millennial employees, it would be best to also provide key action points and key performance indicators.
2. Give ample opportunities for continued learning.
“I want to learn and grow with the company,” says Joane L.*, 25 years old, communications writer. Millennial employees love learning new things and would not want to be confined in one discipline or field. One way to keep millennial employees engaged is to provide them opportunities for continued learning inside and outside the company. This can come in the form of a rigorous in-house training and development program, or through industry seminars and workshops, free online courses, and even graduate school scholarships here and abroad.
- Mentor them.
“As a young professional, I want structured guidance towards a clear career path, and mentorship for both my technical skills and my soft skills,” says Louie C.*, 24 years old, art director.
Millennial employees want mentors who can both serve as role models, or “life pegs,” and as insightful guides for navigating their way in the corporate ladder. Take note though that they want to be inspired rather than dictated to by their mentors. They also welcome an exchange of ideas and a difference in opinion when it comes to strategies, goal-setting, and decision-making.
4. Provide the right balance of guidance and freedom.
“I want to be given a thorough project brief, complete with timelines and deadlines,” says Janelle F.*, 25 years old, art director. “However, I don’t like being micro-managed. I believe I can get things done at my own pace, and being micro-managed makes me feel like they don’t trust me to do the work well.”
Millennial employees welcome structured guidance, but they also want the freedom to explore different ideas, strategies, and work styles. The key is finding the right balance between steering millennial employees in the right direction, but still giving them enough freedom to develop and implement ideas on their own.
5. Learn their interests, personalities, and work styles.
“Know your employees well enough, and be sensitive to their interests, personalities, and work styles,” says Najmah D.*, 29 years old, social media officer. “It can be hard when your work style is questioned, for example. My work style might be unconventional, but it works for me and makes me more productive.”
Beyond the compensation and the benefits, purpose and meaning drives millennials in the workplace. They bring much of their interests and personalities to work, and how they approach and accomplish tasks are very much a reflection of who they are. Employers are encouraged to learn and leverage on the individual strengths of their millennial employees to fully tap their potential.
Even if they have garnered such bad press, millennials are not necessarily bad employees. As with most employees, millennials just need to be managed well. When managed well, they have a lot to bring to the table, and can even become your best employees.
At Higher Heights Training & Events, we provide the best learning resources and training experience to empower companies to manage their employees well, no matter what the age. Together, we can take your company and your millennial employees to the next level. Visit our website www.higherheights.phor contact +63-920-695-4183, +63-915-265-3153, +63-49-302-1944to get a free consultation today!
