Busting Myths about Millennials: Job Hopping

The ongoing narrative is that Millennials are serial job-hoppers—ungrateful and unloyal. “Why bother hiring them,” managers say, “if they only stay 6 months?”

But new data from the Bureau of Labor Statistics suggests this narrative is just not true. It turns out that Millennials are no more likely to “hop” than previous generations when they were young.

The BLS study shows that the average job tenure for 20-somethings (many current Millennials) is the same today as it was in the 1980s, when the oldest members of Generation X were in their 20s, and that how long a young employee stays in a job is more a factor of youth than of generation.

An older study by BLS also revealed job-hopping is largely due to younger employees’ search for their professional strengths, interests and best career path. “Of course, there is significant job movement among young workers, both in terms of employers and types of work. Still, once they settle into a career path, employees become considerably more stable in terms of their work than is generally thought,” according to the study.

The same is true today. Overall, job-hopping tends to stabilize more after age 28 for the majority of workers—and job-hopping seems to happen less for those with higher levels of education, according to BLS data from 2016.

But consider this: For young professionals, job-hopping may have benefits. Trying different jobs at various companies can help them grow professionally, learn about themselves and attain new skills quickly. Further, studies show they may make more money moving from company to company than staying with one company long term: A job change can yield a 10 percent or more increase in salary, whereas the average annual raise is just 3 – 4.5 percent.

What Managers Can Do to Keep the Best Millennial Employees

Staying with one company for an entire professional career is not a “thing” now like it was for previous generations. It just doesn’t happen.

As a manager, it’s important to recognize that Millennials have no qualms about staying with a company long-term — they would just rather do so for a company that values their growth and development the way their parents did as these Millennials grew up.

To do this, managers should show a genuine interest in their younger employees’ career development and long-term goals.

In addition, cross-generational mentoring programs can keep Millennial’s engaged and provide a unique chance to learn more about career development at your company and envision themselves at that company well into the future.

Millennials are most interested in working for companies that help them see the “greater good” in what they do on a day-to-day basis. Managers who make it clear that the work the company does make a difference in people’s lives and makes the world a better place are more likely to have happy employees and lower turnover. Offering volunteer opportunities and community-oriented professional development is also key to keeping these valuable employees around.

Lastly, be transparent and be authentic. Millennials crave honesty and follow-through from their professional leadership on the health and well-being of the company, and the company’s mission, vision and goals. Fostering a culture of openness can help prevent Millennials from getting nervous and looking for new jobs based on false or incomplete information, as they fear layoffs just like their parents did.

Seven years after the great recession, the economy is still in recovery and morphing to a new economic paradigm called the “gig economy”, where Uber driver jobs might be plentiful, but meaningful work with benefits is scarce. If you are an employer that has meaningful work, can provide a growth and development plan, and an openness to skills that young professionals can bring, you have a good shot at stopping the hopping.

workaholics

5 Ways to Get Millennials to Want to Work for You

Ping pong tables, latte machines, free kale smoothies, a nap room — sounds like a paradise workplace for Millennials, right? Maybe — but maybe not.

It turns out that “perks” like this do not make young professionals feel fulfilled at work for the long term.

The first Millennials were graduating college and entering the workforce just a few years after the dot-com bubble burst. Even after that economic collapse, however, many companies were trying to attract young, tech-savvy employees with Silicon Valley-style perks from free food to activities designed to make work “fun”. But these things aren’t what Millennial employees really want at work.

1. Millennials want to work for organizations that offer ways for them to feel engaged and emotionally connected to their jobs, according to research from Gallup. They want to feel good about the impact their role has on their workplace and on the community.

Managers can do this by talking more about why the company’s mission is meaningful to the community and the world at large, and by communicating how the employee fits into that mission. Volunteer opportunities can also make employees feel more connected and engaged at work. (See “3 Ways Millennials are Changing the Workplace” for more on this.)

2. Millennials want to work for companies that have an open and honest communication culture, including frequent check-ins, constructive feedback, defined responsibilities and goals that are achievable with proper support.

Managers can do this by focusing on being authentic, approachable coaches, being a role model and setting up Millennials with a structured and productive mentoring program.

3. Millennials want to work for companies that offer them professional challenges, opportunities for growth and show an interest in their short- and long-term success.

Managers can do this by talking about long-term goals, career path and development and future opportunities. “They want to get on the perfect career track right away, despite their job-hopping reputation, data show that most would prefer to stay with one company that will help them achieve their professional goals,” according to Neil Howe.

4. Millennials will be attracted to companies that integrate their work and their life. This does not mean they want to work 80 hours per week. They don’t want work to become their life, but they do like working hard and taking on professional challenges.

The way they do this is different than previous generations. For Millennials, being chained to a desk can be frustrating, and many Millennials want the flexibility to work outside the standard 9-to-5 schedule. “When Millennials say they want ‘balance,’ they don’t mean work less. They mean work differently and more flexibly. There’s a big difference,” mentioned Cali Williams Yost in a piece for Fast Company.

Managers can do this by allowing some telecommuting and alternative work schedules, while keeping expectations high and communication frequent.

5. Millennials will want to work for companies that offer stability and job security. The oldest members of the Millennial generation were just starting to look for their first full-time jobs when the Great Recession happened and they witnessed (and experienced) high unemployment rates.

Managers should emphasize the long-term prospects of the company’s success and the sustainability of their business model. Millennials have long-term horizons when thinking about their career goals. They would rather have a meaningful career with a sold, stable company, rather than hop from job to job. In fact, the idea that Millennial employees “job hop” more than previous generations is a myth. To the extent that they do job hop, it’s because they are working to gain skills to advance themselves in their career. You don’t want to be that company where they are gaining skills so they can move on to the next company. Managers should be clear that their company provides opportunities for professional growth and development.

Overall, Millennials are looking for good coaches in the workplace who are honest, say one thing and do that thing (not do another); they want CEOs who admit mistakes and are open about the company’s health; they want to understand their role with a company that is making a positive difference in the community and in the world.

The way to attract and keep the best Millennial employees is not with free food.

 

Millennials in the Workplace: Meeting Them Where They Are

Understanding any generation — and working with them effectively and productively — means knowing how they were raised. It is important to “put yourself in someone else’s shoes,” and consider Millennials’ upbringing, how they have been raised and what they value.

In leadership, you cannot fully utilize an individual team member’s strengths unless you really know them and know where they’re coming from. To develop Millennials professionally, it helps as a manager to communicate the way that they understand, taking into account their perspective.

There are certain hot buttons that can spur a Millennial to higher levels of engagement and activity.

  • Members of the Millennial generation were raised to feel special by parents who engaged with them, made them feel wanted and important, and were actively involved in their lives. For employers, that means a more hands-on, self-affirming approach to management that visibly and positively rewards them for accomplishing their goals. Here is where a coaching model to managing really works. (And no, you don’t need to buy a box of trophies. A simple gift card to Starbucks for a job well done works just as well.)
  • Millennials were raised with teamwork, collaboration and community-mindedness. They played team sports, worked on group projects in school and volunteer work was a routine part of their education.
  • They grew up with rapidly developing technology and are comfortable communicating in new ways, across management levels and in an open and honest manner.

Employers should meet Millennials where they are. Here are three ways employers can to do that to encourage professional growth and commitment:

  1. First impressions are everything. For example, you’ll never get their attention if your website is cluttered, difficult to navigate and uses outdated technology. The message that sends to Millennials is that your company isn’t forward-thinking and technologically savvy. Ensure your website is mobile-friendly, clean and has up-to-date content, in addition to addressing why the company’s mission matters and what the company does for its community and to better the world.By doing that, you’ll actually attract other generations, too! A great example is wsandco.com, the website of Woodruff Sawyer & Company, an independent insurance company whose website is both well-designed and speaks to the company’s role in the community and world.
  2. Personalize outreach with high-tech and high-touch elements. Give Millennial candidates the chance to speak to both top executives and newly-hired employees.Millennials are keen on transparency and on open and honest communication across professional levels. Millennials are used to being able to reach colleagues and higher-ups through multiple, convenient channels and want to work for CEOs who follow through on promises.
  3. During the recruitment process, give Millennials a chance to speak with not just with human resources staff and their direct potential manager, but with recently hired employees and top executives, too. Recruiters should maintain frequent communication with Millennial applicants, too, without sacrificing formal niceties.

In the onboarding process, schedule immersive orientations in order to build a network of trust among their new peers and foster a sense of community. Welcome Millennials like it’s a privilege to work with them.

A just-released white paper from Coaching Millennials goes over six simple strategies every employer can use to attract, manage, and retain the best Millennial talent. Along with meeting them where they are, the white paper discusses coaching millennials with feedback, creating a positive environment and more. Download the white paper (free) here.


white-paper-frontt

Download the free white paper here from Coaching Millennials.
Download Guide

erin

3 Ways Millennials are Changing Your Workplace

 

Every generation that comes into the workplace brings cultural, environmental and other changes. But Millennials are changing modern workplaces in new and different ways that can be challenging to the people trying to manage members of this generation.

From teamwork to goals and feedback, here are the three C’s of how Millennials are changing your workplace.

Community. Millennials want this sense of community in their workplace. For managers, making Millennials feel like part of a larger team, developing a collaborative environment and culture, and emphasizing the “greater good” of a company’s mission the employees’ place in it, and providing volunteer opportunities related to their skills are all key to ensuring Millennials’ professional success and happiness.

Millennials have been raised with this sense of community. Members of the Millennial generation grew up completing group projects in school, playing organized team sports and participating in (often required) volunteer activities in school.

“From early childhood, Millennials have been encouraged by parents to work together and build important peer connections. As young adults, they are constantly connected to their friends and expect their leaders to take a stake in the well-being of the communities they hold dear,” according to a 2015 report from the Congressional Institute and LifeCourse Associates.

Seventy-one percent of respondents to an LBG Associates survey about corporate volunteerism “indicated that they felt more positive about their company as a result of these programs.”

A number of companies are taking big steps to incorporate volunteerism into their culture, including Deloitte, which offers unlimited paid time for volunteer projects. Novo Nordisk also provides significant paid time off to employees who volunteer, but also includes a community service component in most off-site meetings. The company also has an internal website to help employees find volunteer opportunities.

community

Confidence. Many Millennials crave an upbeat work environment that includes positive reinforcement from their peers and managers. This is because they were raised with a sense of optimism by parents who taught them to believe they can do anything if they put their mind to it.

Managers of Millennials can help them go far, do great work and achieve professional fulfillment by tapping into Millennials’ sense of optimism and confidence. Providing them with a organized support system is important as these Millennials look to take on new and interesting challenges in the workplace.

They crave frequent achievement that is measurable and attainable. In fact, one of the leading causes of low motivation among Millennials in the workforce is a lack of praise, according to Leadership IQ.

Because of this preference, many companies are moving away from the annual review in favor of project-based, monthly or even weekly review periods, frequent one-on-one meetings with managers and more collaboration on critical tasks. Cargill Inc. replaced its annual reviews with an “Everyday Performance Management” system that gives employees routine feedback. “Cargill says it’s seen measurable improvements after managers began giving constructive feedback that was forward-looking, instead of reviewing what had happened in the past,” FastCompany reported. Other companies building systems for routine and frequent feedback include Adobe, Accenture and Google.

In fact, 80 percent of Millennial employees who responded to an MTV Millennials in the workplace survey said they “would prefer real-time feedback over traditional performance reviews.”

Communication. While each generation has its own language, Millennials are communicating through different platforms than employees in prior decades.

In addition to the ways they communicate, managers should acknowledge that their language and tone are paramount to connecting with members of the Millennial generation. Millennials appreciate honesty and transparency from their managers and they crave feedback, but they also want to be heard. This will require a communication style that is conversational; managers of Millennials should keep their doors open and be approachable.

Millennials may tend to text and chat more and email less, but the real difference is in the now asynchronous nature of the way they communicate, which has changed the way they interact and work, according to Gallup. “With technology dominating every aspect of millennials lives, it’s perhaps not surprising that 41 percent say they prefer to communicate electronically at work than face to face or even over the telephone,” a PwC report revealed.

These three C’s — community, confidence and communication — will continue to mold the workplace of the future as Millennials gain footholds in senior management in the coming years.

what is a generation?

What is A Generation Anyways?

Hi Everyone.

This is a youtube I did over a year ago and it received lots of hits. It is a one-minute primer on generations. I hear people talking about “Generation Z” as if they are starting in the workplace. The reality is that “Generation Z” , the generation after the Millennials, was born around 2004-2005, making the oldest about 11 years old. Marketers frequently try to split a generation in two so they can sell more consulting on a “new and different” generation. Remember– a generation spans about 20-years, which is about the length of a phase of life.

Its all written in the book called Generations by Neil Howe and William Strauss. BTW– They coined the term “Millennials” way back in 1990.

If you really want to geek out on generation theory, check out this: Strauss-Howe Generational Theory in Wiki.

Bye bye for now.

Warren

 

i want you

3 Ways to Effectively Onboard Millennials

On my website, CoachingMillennnials, you can find an overview video Neil Howe and I produced called Recruiting and On-boarding Millennials. This video will get you oriented about best practices for recruiting and on-boarding Millennials, but I also wanted to point out a really comprehensive article on the same topic published just recently by Saeculum Research.  Its called “Welcoming Millennials Onboard“. It is a great article because it provides actual, actionable ideas you can use to attract Millennials. Here’s a summary:

  1. Invest in Swag. Show Millennials you care about them. This is easy, and it doesn’t cost a lot. LinkedIn welcomes employees with a swag bag of goodies that are customized to the person being hired. It’s simple swag– like include a personalized greeting card, copy of LinkedIn founder’s book, “The Start Up of You“, and a water bottle. It doesn’t need to be fancy, but ideally, should be personalized. Online care medical scheduling service provider ZocDoc invites new employees to dine out with the executive team for lunch.
  2. Offer Professional DevelopmentGeneral Electric and Caterpillar have pro­fes­sional development programs that emphasize mentorship by top executives and senior management. NYU assigns each new hire a mentor-buddy for the first two months on the job. Millennials like to gain new skills, and are much more likely to stick around if you invest in their professional development.
  3. Build Relationships Quickly. The faster a new hire bonds with his or her immediate co-workers, the more likely me or she is to stay and be a productive member of the team. As the article states, “Deloitte divides new hires into groups to play a board game that not only teaches newbies corporate policy, but also allows them to bond with their co-workers. Internet marketing company Bazaarvoice even sends new employees on a weeklong scavenger hunt to learn the ins and outs of the company. Although these practices are rather unconventional, they take advantage of Millennials’ team-oriented nature and facilitate stronger ties to the organization.”

One other key point the article makes to keep in mind when you are recruiting millennials… keep the parents involved! Boomer and Xer parents are with their Millennial kids at all the big milestone events, and their first job is no exception. And don’t think less of your Millennials because they want to involve their parents. Chances are, you have a very different relationship with your Millennial child than you did with your parents. The Army slogan is highly instructional as you think about including parents as part of your recruiting strategy: “You make them strong, we make them Army strong.”

i want you

3 Ways to Effectively Onboard Millennials

On my website, CoachingMillennnials, you can find an overview video Neil Howe and I produced called Recruiting and On-boarding Millennials. This video will get you oriented about best practices for recruiting and on-boarding Millennials, but I also wanted to point out a really comprehensive article on the same topic published just recently by Saeculum Research.  Its called “Welcoming Millennials Onboard“. It is a great article because it provides actual, actionable ideas you can use to attract Millennials. Here’s a summary:

  1. Invest in Swag. Show Millennials you care about them. This is easy, and it doesn’t cost a lot. LinkedIn welcomes employees with a swag bag of goodies that are customized to the person being hired. It’s simple swag– like include a personalized greeting card, copy of LinkedIn founder’s book, “The Start Up of You“, and a water bottle. It doesn’t need to be fancy, but ideally, should be personalized. Online care medical scheduling service provider ZocDoc invites new employees to dine out with the executive team for lunch.
  2. Offer Professional DevelopmentGeneral Electric and Caterpillar have pro­fes­sional development programs that emphasize mentorship by top executives and senior management. NYU assigns each new hire a mentor-buddy for the first two months on the job. Millennials like to gain new skills, and are much more likely to stick around if you invest in their professional development.
  3. Build Relationships Quickly. The faster a new hire bonds with his or her immediate co-workers, the more likely me or she is to stay and be a productive member of the team. As the article states, “Deloitte divides new hires into groups to play a board game that not only teaches newbies corporate policy, but also allows them to bond with their co-workers. Internet marketing company Bazaarvoice even sends new employees on a weeklong scavenger hunt to learn the ins and outs of the company. Although these practices are rather unconventional, they take advantage of Millennials’ team-oriented nature and facilitate stronger ties to the organization.”

One other key point the article makes to keep in mind when you are recruiting millennials… keep the parents involved! Boomer and Xer parents are with their Millennial kids at all the big milestone events, and their first job is no exception. And don’t think less of your Millennials because they want to involve their parents. Chances are, you have a very different relationship with your Millennial child than you did with your parents. The Army slogan is highly instructional as you think about including parents as part of your recruiting strategy: “You make them strong, we make them Army strong.”

millennial

An Embarrassing Millennial Moment for Kronos

Millennial mishap alert! I was really looking forward to reading a new research report by Kronos, a US-based multi-national workforce management software company, called, “Motivating Millennials, Managing Tomorrow’s Workforce Today”. Researching Millennials is my work, and I collect research reports like I used to collect baseball cards as a kid.

So, I’m settling in with my cup of coffee, sun streaming in through the window, my dog Wulfie sprawled on the “dog sofa”, excited to digest this research report. The very first “take-away” from the research is that “Millennials will make up 75% of the Australian workforce in 2025.” REALLY? Guys– do the math. A generation, by definition, lasts 18 to 22 years. Let’s just say 20-years. The workforce is made up of people roughly 20 to 60-years old, right? That’s a 40-year span, meaning that at a MAXIMUM, Millennials could only represent is 50%, but that’s only assuming we are counting 2 generations.

I know many of you don’t care about this, but I’m a stickler for data accuracy. I would hope Kronos would be too. I’m giving then a “D” on this report for demographic accuracy.

Oh– if you want to know how many Millennials will be in the workforce by any given year, I am including a Link to a spreadsheet we put together by looking at census estimates. Max percentage is 51% in 2034. This is for the US, but population pyramids run roughly parallel between Australia and the US.

Bravo, Kronos, for recognizing that Mentorship programs should be a core part on Millennial’s development– (see our take on Mentorship), but its better if you stick with your core competency– software development.

Percent of Millennials in the workforce.xlsx

millennial

An Embarrassing Millennial Moment for Kronos

Millennial mishap alert! I was really looking forward to reading a new research report by Kronos, a US-based multi-national workforce management software company, called, “Motivating Millennials, Managing Tomorrow’s Workforce Today”. Researching Millennials is my work, and I collect research reports like I used to collect baseball cards as a kid.

So, I’m settling in with my cup of coffee, sun streaming in through the window, my dog Wulfie sprawled on the “dog sofa”, excited to digest this research report. The very first “take-away” from the research is that “Millennials will make up 75% of the Australian workforce in 2025.” REALLY? Guys– do the math. A generation, by definition, lasts 18 to 22 years. Let’s just say 20-years. The workforce is made up of people roughly 20 to 60-years old, right? That’s a 40-year span, meaning that at a MAXIMUM, Millennials could only represent is 50%, but that’s only assuming we are counting 2 generations.

I know many of you don’t care about this, but I’m a stickler for data accuracy. I would hope Kronos would be too. I’m giving then a “D” on this report for demographic accuracy.

Oh– if you want to know how many Millennials will be in the workforce by any given year, I am including a Link to a spreadsheet we put together by looking at census estimates. Max percentage is 51% in 2034. This is for the US, but population pyramids run roughly parallel between Australia and the US.

Bravo, Kronos, for recognizing that Mentorship programs should be a core part on Millennial’s development– (see our take on Mentorship), but its better if you stick with your core competency– software development.

Percent of Millennials in the workforce.xlsx