It's the topic every human resources manager has heard over and over again: millennials and future of the workforce. Research from Gallup found that millennials are the most likely generation to switch jobs — 60% of one survey's respondents are open to new job opportunities — and they’re the least engaged generation in the workplace. Though many may think this is because millennials are bored and constantly looking for a new thrill, we know it’s all about culture. This goes beyond the unlimited PTO and best-in-class snack bars. Millennials are willing to put the work in to feel they are valued, against what others think. They want to be surrounded with committed and talented people who live and breathe the mission and culture of the company.
Below are five realistic and not-so-obnoxious ways to retain millennial employees:
1. Put an individualized growth plan in place for personal, financial and professional desires.
Millennials seek conscious training, feedback and a road map of what their future looks like during their time at the company, both inside and outside of the office’s walls. This is where mentorship programs are necessary and successful. Begin by pairing each staff member with a seasoned employee with like-minded goals. Success is in creating a meaningful partnership for both parties. The senior leader should get to know the millennial staff member and learn their goals in work and in life.
From here, put a plan into place with monthly goals, yearly goals and a five-year plan. Ensure mentor and mentee are meeting quarterly to keep the drive alive, and push for open communication between both employees. Mentors should ask questions such as, "How can the company help you get to where you want to go?" and "How can you help the company get to where it wants to go?" This requires company goal transparency to all employees.
2. Understand your communication approach, and stick to it.
Gone are the days of phone calls and long, in-person meetings — though it is still important to keep this communication tool a norm in the workplace for other generations. Offices and teams need to start exploring other communication tools. Millennials are constantly overcommunicated with due to the ever-increasing popularity of technology and social media. It’s important to start adapting other forms of communication to ensure millennials feel comfortable and have the freedom to get creative. Though email is what is used regularly at the companies I work for, I suggest looking into communication tools such as Slack or Basecamp. Most importantly, pick one form of communication, and stick to it.
3. Craft a flat organization.
Flat organizations decentralize authority while still maintaining leadership and vision. Millennials express a desire to lead and to adapt. Companies need to ensure their structure models a flat organization or inverted triangle. In other words, hierarchy becomes less visible, and leadership is more accessible.
Millennials dislike the idea of having to navigate through multiple management leaders to get answers, especially if the “why” is “protocol.” They like to go straight to the source and feel empowered and comfortable when doing so.
Consider a radical structure reorganization, or put more than one person as a leader per department.
4. Check your pride at the door.
Many assume that it’s an age thing — millennials are lazy, and other generations are prideful. Companies need to break free of these incorrect assumptions and create equal opportunity for all employees. All generations need to work together in order to get things done and sail the company off to future success. This means checking pride at the door. Understand that all can bring beneficial ideas to the table, and all viewpoints should be considered.
5. Educate, and give 360 feedback.
A recent article in Harvard Business Review explains the importance of giving critical feedback in real time. Educating your employees and constantly providing opportunities for 360 feedback is important for company success. You can collect feedback from colleagues, clients and supervisors and allow the employee to participate in a self-evaluation. Once the feedback is given, it’s important to narrow down items the employee needs to work on and establish the next feedback date.
Millennials are the future of the workforce, and companies have to adapt if they want a future. No need to grant unlimited PTO or all-inclusive vacations to attract these employees. Start by implementing these steps and empowering your employees.
