Millennials are set to clash with baby boomers in a big way and it’s something you should encourage. Here’s why:
- Millennials favour project work. They are willing to work long hours when necessary but won’t stay until 5pm if they don’t need to. The emphasis on output is driven by their passion to protect their work/life balance (which ranks higher than financial reward).
- Millennials are deft with technology, with an understanding of The Internet of Things and the ability to apply this to your workplace, streamlining Operations and reducing the need for manual workarounds where technology can provide the answer.
- Millennials really want to succeed, rating career progression as their top priority, even above financial incentives. This indicates that they understand the need to gain experiences and challenge themselves, having faith that salary will follow later thus employers are delivered great ambition and drive without the hefty price tag.
Millennials do expect certain commitments in return for the above. Millennials are so focused on their personal growth that this could manifest in a lack of loyalty or ‘sticking it’ for the long run. To ensure retention you need to continue to put opportunities for growth on the table. This doesn’t have to come in the form of formal positions, titles or promotions but continued forward movement is key. Consider extra responsibilities which still provide genuine development and experiences.
As well as a lack of loyalty, millennials often interpret being managed negatively. They need a coach or mentor to guide them along their path and satisfy their need to feel as though they are progressing. Many companies fail to understand this as it fits outside of their traditional hierarchical way of working, possibly explaining why millennials will change jobs on average every 2 years compared to an average 5 years for Baby Boomers.
Overall, prepare your company for a millennial as best as possible, unleash them and watch them fly.
Written by Chris Allen, Coriolis Ltd