Working With Millennials Podcast Series | Episode 2
December 9, 2016
The New Definition of Diversity
January 10, 2014
The 2010s in review: How IROs became ‘corporate athletes’
December 5, 2019
Do Millennials Want to Work for You?
February 13, 2015
As a leader or an executive of a company, we’re constantly looking for ways to stay on top of business trends and ahead of the curve. One way of doing this is by hiring Millennials. Not only do they bring a new business-savvy to the table, but they can also help us predict the future of business. In a way, Millennials are already dictating the direction of business through the use of constantly changing technology and digital platforms, which seem strange to us, but are second nature to them.
We’re starting to realize that Millennials don’t really think like us, so how do we attract them to work for us and make them stick around? Surprisingly, the answer isn’t money. In order to understand them, we must first understand that the generations ahead of theirs think differently; here are some examples of how Millennials approach their lives:
-They value experience over being able to pay the bills.
-They’re unwilling to sacrifice their personal lives for their professional lives.
-They’re social beings (but not social in the normal sense) that like to emphasize digital.
So let’s address what many perceive to be “unwarranted thinking” on the part of this generation: they’re not willing to work a job they don’t want, they don’t want to put in extra work if it means they can’t go out on Saturday night and they want the freedom to reach the digital world in whatever work they do and meet deadlines on their terms?! Sheesh… what does management do with all that?
What Millennials want isn’t some secret formula or obscure business practice; they want similar success to ours, however, they frame the operating philosophy of their lives a bit differently. So here’s what you need to do in order to attract Millennials and keep them around – after all, they are the future of the world and business:
Be approachable. No magic trick here. If you’re friendly, open, social and approachable, your employees (of all generations) will want to work for you.
Work/Life Balance. There’s been a noticeable shift in work/life balance towards the life side. Sometimes work requires extra hours outside the designated 9-5. Giving employees ample personal time makes that extra Saturday time commitment a pretty reasonable request. They don’t need to be in the office? Let them go early. It’ll pay off when you need something timely done over the weekend and they jump right on it.
Social Beings. Millennials grew up with constant exposure to social life through digital channels. They crave social interaction that’s bigger than group/team projects. Make your workplace a social atmosphere. Having a friend at work makes all the difference in the world, let alone an entire office of buddies.
Life Stage. While compensation and benefits are important to a Millennial, these aren’t the key drivers or motivators of that entire generation. They value a job with good experience, a strong mentor and room for growth over a dead end job that pays what they perceive to be a paltry annual salary. They take directions well from management and look to you as a coach/mentor, so play the part! But be careful not to overstep your bounds!
If your company has strong values, ethical business practices and a positive work atmosphere, Millennials will simply be attracted to your company; but insightful management is what will keep them there and that starts with you!