According to a Pew Research Study conducted in 2015, “More than one-in-three American workers today are Millennials (adults ages 18 to 34 in 2015), and this year they surpassed Generation X to become the largest share of the American workforce."
If your company is looking to grow, there is no question that millennials will be the driving force for your long-term goals. Millennials possess a different kind of skillset than those of Generation Xers and Baby Boomers. Some of those characteristics include:
- Ability to adapt to changing work environments with little or no training
- Tech savviness with any kind of standard technology
- Resourcefulness to find the answer to a question; research-driven
- Aware and active on social media and online networking trends
Although these may all sound like great assets to your company, it is not easy to keep millennials long-term. As reported by Deloitte in a 2016 study, “During the next year, if given the choice, one in four Millennials would quit his or her current employer to join a new organization or to do something different.”
If you are the decision maker or the person in charge, this sounds like a risk; and in fact, it is. Why should you be willing to take this risk?
Based on the findings of research from EY, “…over the last five years, 87 percent of millennial workers took on management roles, versus 38 percent of Gen X workers and just 19 percent of baby boomers.”
This group is willing to do what it takes to become part of the upper coalition. There are an increasing number of those who choose to become entrepreneurs, freelancers and work flexible schedules. This is a generation that is unquestionably motivated to succeed.
Below are three ways your company can prove that you are invested in their long term career.
- Be Less Demanding and Offer More Creativity
Millennials will be quick to leave if they are given repetitive tasks. Be sure to utilize their creativity by meeting with them at least once a month to discuss opportunities to do things differently. You will be surprised to learn how their skillset can add value in other parts of your company. Giving them the freedom to think outside the box will show that you value their opinion and can also benefit how you do business.
Also, do not be too demanding. As I read in a Forbes article, act more like a coach and less like a boss. They are looking for somebody to mentor them and help them grow.
- Revamp Your Office Environment
What does your office space look like today? Think to yourself: If I was fresh out of college in my 20s, would you feel excited to come into my office every day? Now, I am not saying every office has to look like Google. Even if you are a professional business, it is okay to show some personality. Examples of this include letting employees play their music on a wireless speaker, decorating the walls, customizing cubicles, offering snacks and beverages, having “fun days” in the office, etc. When making a decision between one company or another, sometimes things like these are the deciding factor.
- Show Your Transparency Online
Millennials will do research on you like you do on them. This is why it is so important to show more than what you do on the business side. Include galleries of office events, holidays, birthdays and any other social setting you can think of. If all your social sites have to offer are information about your business procedures, you are just like everyone else. Find a way to stand out by showing off your company culture.