One of the most pressing talent issues, organizations are facing today is the retention of top talent. It has become increasingly challenging to hold on to your best performers in an evolving workplace. Given the increasing number of millennials in the workforce, it becomes critical to understand the Millennial Mindset.
As employees, millennials have been called spoiled and entitled. Most have been raised to never experience failure. Some are even described as selfish with absurdly high expectations and constantly living in the moment, in search of instant gratification.
Despite all this, they need more than money to stay motivated. They need to feel the impact of their contributions. I have my own personal experiences, training extremely talented employees who could not understand their own significance or purpose in a project. An organization will thrive when it builds a foundation around these passionate individuals.
The term “resource” has become so overused that it has lost its value. In fact, it is not uncommon to see project managers asking for “bodies” to be thrown into a project. A Millennial doesn’t just want to be another “resource” or a “body”. They want to be valuable contributors working towards a shared goal with the organization. So here are five ways to engage and motivate your millennial workforce:
- Mentors — Millennials prefer to be mentored rather than managed. They seek feedback and need advice. This also helps build trust and shows that they are valuable members of a team.
- Purpose — Knowing what they do is important, but know why they do it is even more imperative to millennials.
- Learning and Development — They respond positively to opportunities for both personal and professional development. They expect results and look to acquire a diverse skillset to accomplish this.
- Flexibility — Clocked working hours and stagnant locations are thing of the past. Telecommuting is slowly being more widely accepted in many companies and is a great option to provide flexibility.
- Responsibility — They love a sense of ownership. Taking on big challenges motivate them to be more productive. Fluffy titles are meaningless without substance.