The rap on millennials is that they’re difficult, entitled and lazy. Yet, some of the most influential companies such as Facebook, Airbnb and Groupon were founded by millennials. These companies also employ millennial workers that help their bottom line by spending countless hours creating innovative systems, processes and products.
Regardless of how leaders feel about Gen Y, they are actively shaping company culture. So, how do companies engage, motivate and retain this group?
The first thing to understand about millennials is that they value purpose. Increasingly, workers need to understand their place in a company’s vision and are less willing to do things just for a paycheck. They won’t be viewed as cogs and dislike working for companies solely focused on profit. They aren’t naïve though; they recognize that companies must make money. They just aren’t loyal to companies that lack investment in communities, the environment, social justice and anything beyond profit margins.
Below are some aspects of management for engaging millennials, to create stickiness when hiring and retaining the best talent.
Growth
Some of the primary things that millennials seek are professional and personal growth opportunities. When surveyed about what makes an employer attractive, the top response was good opportunities for career progression.
While older generations see this as an unwillingness to pay dues, it shows that millennials won’t settle. This strive for growth is reflected in how millennials view promotions: they disagree that someone must stay in a position for a certain number of years before being promoted.
They view promotion as merit-based, so they challenge power structures. How should leaders channel this ambition, so it doesn’t interfere with the status quo? Mentorship presents a solution. Mentors are important to millennials and mentorship programs encourage growth while bridging generations through communication.
Millennials are always looking to improve. They see their positions as opportunities to develop technical and leaderships skills. A 2018 Deloitte survey suggests an interest in developing soft skills including the following.
- Confidence;
- Communication;
- Emotional Intelligence;
- Resilience; and
- Critical Thinking.
Good People
People don’t leave bad companies—they leave bad bosses. This is especially true for millennials. As a rule of thumb, keep these three C’s in mind:
- C-suite/leaders;
- colleagues; and
- clients.
Having good people in each of these roles equates to having a healthy work environment.
Much of the momentum for working with good people stems from leadership, so it’s important to understand what millennials believe is good leadership. They believe companies should care about hiring skilled people who also genuinely care about those they work for and with.
Patrick Lencioni, the author of “The 5 Dysfunctions of a Team,” states that companies should hire people who are humble, hungry and smart. High-performing millennials are unique in how they openly voice frustrations when they don’t see these qualities in peers, leaders and even clients.
Creating a healthy environment is especially important in the construction industry, where people are often offsite, and small groups work in isolation. Safety must be a top priority, whether it’s physical or emotional safety or freedom from sexual harassment. The #MeToo movement has shown that young people won’t be silent anymore.
Transparency
Millennials crave organizational transparency. They dislike politicking and smell BS a mile away. While this seems as though they’re challenging authority, all they really want is to understand why decisions are made. An example of this is their willingness to discuss pay with coworkers. While this is uncommon for older generations, many millennials are ardent about it.
Emotional intelligence is also important in management. Understanding where employees are coming from is essential to an open work environment. A great way to encourage transparency is an ask me anything (AMA) forum. These feedback sessions happen in person or online, with employees inquiring about anything related to their job or company. Open communication helps locate pain points and uses dialogue to ease them.
Millennials see things differently, but that doesn’t mean they’re incorrect. Imagine two people staring at the number six from opposite sides. You see either 6 or 9, depending on the vantage point.
A conversation without understanding perspectives creates a divide and doesn’t allow leaders to see employee potential.
Google studied why high-performing teams perform so well. Their conclusion was psychological safety. Workers need to feel comfortable, safe and valued in their roles. This is all that millennials, like any generation, are seeking.
According to Deloitte’s 2018 survey on millennials, 43 percent envision leaving their job in two years. This speaks to high dissatisfaction and disengagement, which are devastating for company culture. By focusing on growth, good people and transparency, companies create psychological safety for employees and are more likely to motivate, engage and retain millennials.
