Apparently, this year saw the proportion of Millennials in the workplace hit a lofty 40%. We often hear about how the wants and needs of Millennials are quite different from the generations that came before them, so what are these needs, and are we, as employers, meeting them?
If we’re not, we are quite simply closing our doors to what is arguably the most important demographic of working-aged people.
Here’s a little look at what the Millennials are after.
It’s well publicised that Millennials expect a healthier work-life balance than many of their parents got (or, indeed, get!) and that flexible working practices are far more important to them than performance-related bonuses or a carriage clock after 35 years’ continuous service. This generation is focused more on getting a job done than clocking in and out at, and they greatly value trust and transparency from their employers, as well as workplaces which allow remote working and flexible working hours. Work hard, play hard, right?
A company on a mission
Or at least with a mission! Millennials want to work for an organisation with a clear mission, or even a social role. They want to feel a higher sense of purpose towards the work they’re doing and are driven by opportunities to contribute towards a bigger cause.
Beyond simply having interesting projects to work on, this extends to the goals, visions and purpose of the business they’re working for, too. Millennials actively seek out employers whose values match theirs, and they won’t stick around if yours are unclear, unshared, or unrealised. Communicating your business vision and strategy is more important than ever if you want to attract and keep the finest Millennials.
A culture of development, collaboration and open communication
Millennials will choose company culture over cash when it comes to development, collaboration, innovation and communication. If your organisation truly values these things, then shout about it.
Sadly, some of the companies who are can boast these qualities aren’t… well… boasting about them. Communication is king. Sort out your Comms Strategy if you want to keep all of your best people in the know, feeling the love and staying loyal.
A commitment to employee success
Millennials don’t expect you to do the job for them, but they do expect to be set up for success. That means sufficient training, the tools to do the job, clear goals and achievable targets, and regular, meaningful feedback.
Millennials also value recognition and appreciation more than any other generation. And, in the new world of more flexible working, don’t rely only on top-down recognition or formal feedback at appraisals, as this will hinder the frequency and quality of the recognition taking place. Recognition platforms can be invaluable with this.
What is fundamental to all of these is effective internal communication. You probably go all-out to attract the best talent to your business when you’re recruiting (“it pays to advertise”!), but are you maintaining that same level of communication and employee engagement once they are on board? Because you really should be!