(A 3 minute read…)
Millennials are a unique demographic.
The people born between 1981 and 2000 number 83.1 million Americans, eclipsing the 75.4 million Baby Boomers who have dominated consumerism since they became adults.
According to Pew Research, America’s workforce is now comprised of:
- 53.5 million Millennials
- 52.7 GenXers
- and 44.6 million Baby Boomers
With more than one-third our workforce falling into the “Millennial” generation, their distinct characteristics have impacted the workplace dynamic.
Why is this demographic labeled with more negatives than positives? Why not embrace this generation of up and comers, disruptors, these children of baby boomers who were and still are disruptors in their own right.
I often hear “these workers also don’t always share the hardcore work ethic of their parents”. If that means better managing their work-life balance, KUDOS to that!
“They don’t often have the concern for finding a job before relocating. Millennials just pick up and go.” OK so that’s a free spirited risk taker and you are only young once. We are lucky to have a very diverse age group within our Company and it works beautifully. Our up and coming “Millennials” bring a lot to the table. They are confident, knowledgeable and tech-savvy. They care deeply about causes that are important to them. They can multi-task and creatively think like no other. They don’t want to just lean in, they will step up and make a difference right away. Micro-manage, don’t even think about it, instead teach and set them free. They are not afraid to try new things and offer up innovative ideas that are making a difference. Our company is better because we are a diverse mix of talented experience and youth. The Millennial generation are a true asset to the workplace and employers should embrace the many skills they have to offer.
With this delicate balance of Millennial skills and tendencies, how can an employer retain talent?
Teach them. Engage them. Inspire them.
Cultivating growth is critical to millennial retention.
“Millennials are concerned with investing their energy and their time in organizations that will reciprocate,“ explains Jason Weingarten, CEO of talent acquisition and recruiting software platform, Yello, which surveyed 7,000 recent college graduates.
“They want to make sure they’re growing inside their organizations and that they have a path to continue to do so. They’re more concerned with working well with teams of their friends, making a positive impact on the world, and having a promising path to growth is really important.”
A survey of 1,000 working professionals was conducted by Bridge by Instructure, a cloud-based employee learning platform.
The results indicated that job satisfaction is linked to the availability of continued growth.
“In our survey, the majority of employees say continuous learning was important or very important to their job satisfaction. They cared about their growth and wanted these training opportunities,” says Bridge’s senior vice president Jeff Weber. “And 53% of respondents say they’re very likely or likely to leave their job because there are insufficient learning and professional growth opportunities. This is a major message to companies that if you’re not sufficiently providing ways for workers to learn and grow, they have no qualms about leaving for another place that will give them those opportunities.”
Some businesses might be turned off by the generation’s demand for a different workplace culture. Adapt your culture, welcome and embrace the changes as a result of this unique workforce.
Accept this shift as a challenge, and gain a team of talented people who have greater dedication to the employer who empowers them and shouldn’t this approach apply to everyone?
Offer your employees opportunities to grow and you will gain valued prospects and end up with a highly engaged workforce while simultaneously growing your business.
We strategically look for and grow top talent, so we can achieve our best as a company.
Stay tuned for more blogs on how to best work with this generation of valuable talent in your business.