Millennials—those born between 1980 and 2000—are the largest generational group in United States history. Growing up in a time of rapid change has given millennials a different set of expectations and priorities than previous generations. To keep millennial staffers, employers must understand what motivates this group and why.
In a report released in 2015 by the Pew Research Center, more than one in three American workers belonged to the millennial generation—also known as generation Y. With 54 million members, the millennials have officially taken over as the largest working group in the country today.
Unlike previous generations that valued stability and lifelong careers, millennials change jobs often. A recent Gallup report states that 21 percent of millennials have changed jobs in the last year—three times more often than people from other generations. Gallup also found that only about three in ten millennials say they are emotionally and behaviorally connected to their job and employer.
Companies that want to keep millennial staffers need to understand how young workers today view the world and effective ways to motivate them. Policies and tactics that have worked well with previous generations may not work with millennials—and could lead to the loss of great employees. Below are five things not to do if you want to keep millennials happily employed at your company.
Here are five tips to keep millennial staffers:
1. Don’t minimize the importance of volunteer activities.
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Millennials are a giving group and many view volunteering as a win-win opportunity. Volunteer activities allow young professionals to further their career goals while giving back to their communities. Providing volunteer opportunities within an organization is a win-win for companies, too. According to a report by the Carroll School of Management Center for Corporate Citizenship at Boston College, offering volunteer activities improves an organization’s reputation and helps to attract and retain employees—especially millennials.
2. Don’t overlook the importance of coaching and mentoring.
According to a 2016 Deloitte Millennial Survey, more than 60 percent of millennial workers do not believe their leadership skills are being fully developed. Of the young workers surveyed, those planning on staying with an organization for more than five years were twice as likely to have a mentor working with them. If your company wants to keep millennial staffers, it would make sense to provide mentoring opportunities. Not only would this entice employees to stay, but it would also develop their skills and talents.
3. Don’t foster a competitive work environment.
Generation Y is more comfortable with collaboration than competition. Millennials aren’t interested in cutthroat employment styles in which people do whatever they can to get ahead. Young workers today value workplace friendships and would rather work with their colleagues than against them.
4. Don’t neglect feedback.
Don’t ignore your millennials. A recent report by PeopleFluent shows that engaging with young employees and investing in their professional development are critical factors if you want to keep millennial staffers. Ninety percent of millennials surveyed want to know how they are doing on an ongoing basis. This group thrives on feedback, and annual performance reviews are not enough.
5. Don’t be rigid.
Perhaps the worst thing an employer can do if they want to keep millennial staffers is to underestimate the importance of work flexibility. Millennials want flexibility in terms of how, when, and where work gets done. Bentley University recently released a study that shows that 77 percent of millennials say work flexibility would increase productivity in the workplace among people their age.
One of the top reasons millennials consider leaving a job is the lack of work flexibility and work-life balance. According to Gallup, 57 percent of millennials report that work-life balance and well-being in a job are “very important.”
As millennials graduate from college and move into their peak employment years, they will continue to bring with them a new perception of what work should look like. Catering to millennials may be frustrating to employers, but may be necessary if companies want to attract and retain the best of the millennial group. Most of the things millennials are seeking from their jobs—feedback, collaboration, healthy work-life balance—are all things that could actually benefit companies in the long run.
Interested in hiring millennials staffers? Browse resumes and professional candidates in 55 categories.
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