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Busting Myths: Millennials have No Loyalty in the Workplace

If you hire a Millennial, you can’t expect them to stay around long. At least, that’s what most employers think when they hire people who are in the early years of their career.

But it turns out that Millennials do not “job hop” any more than young people of previous generations. To the extent that they do “hop”, it is more about the younger employees’ search for their professional strengths, interests, and career paths, according to a study by the Bureau of Labor Statistics.

If you want your best Millennial employees to stick around, you need to understand that for Millennials, loyalty is a two-way street. If an employer is not investing in Millennials’ professional development and satisfaction, there’s a good chance they’ll say, “Adios, amigos.”

According to a survey done by Deloitte earlier this year, 44 percent of Millennials say, if given the choice, they would like to leave their current employers in the next two years — particularly if “there is a perceived lack of leadership-skill development.” More than six in 10 Millennials (63 percent) say their “leadership skills are not being fully developed” at work.

Other reasons for lack of loyalty in the workplace for Millennials are “feelings of being overlooked, compounded by larger issues around work/life balance, the desire for flexibility, and a conflict of values.”

How to Ensure Millennial Employee Loyalty

Fortunately as an employer, you can do things to ensure Millennial loyalty.

Companies should capitalize on aligning company values to the personal values of their top Millennial employees. More than 80 percent of Millennials who plan to stay with their company for at least another 5 years believe their personal values are shared by the organizations they work for, according to Deloitte. This is a strong indication that Millennials choose to work for and stay with employers whose values reflect their own.

Millennials would prioritize the sense of purpose around people rather than growth or profit maximization. This is one of the reasons that the three top fields for Millennials are education, environment and healthcare, research shows.

In broad terms, Millennials’ personal goals are more traditional. They seek a good work/life balance, they want to own their own homes, and they strive for financial security that allows them to save enough money for a comfortable retirement. The ambition to make positive contributions to their organizations’ success and/or to the world in general also rate highly. As an employer, assisting Millennial employees in reaching some of these goals can help engender loyalty.

The companies that are successfully keeping turnover down and instilling a long-lasting sense of loyalty in their Millennial employees seem to have common themes:

  • Identifying, understanding, and aligning with Millennials’ values
  • Supporting Millennials’ ambitions and professional development
  • Having a mentor

The Deloitte survey shows that loyalty to an employer is driven by understanding and support of Millennials’ career and life ambitions, as well as providing opportunities to progress and become leaders. Having a mentor is incredibly powerful in this regard. Those intending to stay with their organization for more than five years are twice as likely to have a mentor (68 percent) than not (32 percent).

Like all generations, pay and financial benefits drive Millennials’ choice of organization more than anything else.

“But when salary or other financial benefits are removed from the equation, work/life balance and opportunities to progress or take on leadership roles stand out. Those factors are followed by flexible working arrangements, deriving a sense of meaning, and training programs that support professional development. An employer that can offer these is likely to be more successful than its rivals in securing the talents of the Millennial generation.”

Every incoming generation changes the shape of a workplace. Boomers brought long-hours and an almost devotional approach to work. GenXers brought work-life balance. Now Millennials are making their own footprint — a flexible, purpose-driven workplace that has lots of professional development opportunities.

 

4 More Millennial Traits

Last week, we wrote about how Millennials were raised by their parents to feel special, sheltered and confident. Those three Millennial traits mark that generation’s personality, shaped by their parents and the prevailing cultural influences of the times.

But there are four more traits of Millennials worth paying attention to: Team-oriented, Conventional, Achieving and Pressured.

Team-Oriented

There’s a reason why group fitness classes are more popular than ever before: Millennials are the most team sports-oriented generation in history, thanks to the rise of organized sports and parents who focused on group participation activities for their Millennial children. This started early for Millennials, in schools that emphasized group projects and team collaboration.

This team focused orientation set the stage for Millennials’ preference and expectation of working in teams in the workplace. It also sets the stage for managers to play more of a coaching role. The managers who want to attract and retain the best Millennial employees should consider taking on a “coach” role. This means:

  • Building relationships is important, as Millennial employees want to feel like they belong to a team working toward a larger goal or the “greater good” in their career.
  • Cross-generational mentorship is appreciated by Millennials, who want to feel connected to people in other departments, be coached by people with more experience and want to feel part of a community.
  • Embracing open communication and frequent feedback will make Millennials feel welcome and like an important part of the workplace team.

Conventional

It is counter-intuitive to think that “youth” and “conventional” go together. The Baby Boomers led the way in their youth to be unconventional, anti-establishment, and counter-cultural. GenXers followed the Boomers lead by being non-conforming, but in a different, more rule-avoidance way. Millennials, on the other hand, are a truly conventional generation in may respects.

Gallup research revealed, “In addition to finding steady, engaging jobs, millennials want to have high levels of well-being, which means more than being physically fit. Yes, millennials want to be healthy, but they also want a purposeful life, active community and social ties, and financial stability.”

Millennials are waiting longer than their parents and grandparents to get married, have children and buy homes, but not because they don’t want to follow the conventional path of owning a home and raising a family. Millennials are delaying those things due to economic circumstances, i.e.–student loans and tenuous employment situations.

For employers, this means providing Millennials with predictable, stable opportunities to grow their skill set, and a clear career path. Millennials don’t like to “wing it”. They would rather have a plan that extends well into their future and know what to expect for their long-term development. Make sure you provide plenty of opportunity to explain benefits like health insurance, 401ks, and other benefits. Research has shown that Millennials tend be the most conservative when it comes to investing their money. They save at a higher rate than other generations, and are less likely to have their money in the equity market.

Achieving

Millennials want to achieve. Contrary to the common media narrative, they are an ambitious generation that wants to make a difference in their lives and the lives of others. As previously noted, Millennials’ parents were more involved and more positive in many ways when it came to how they were raised. Parents had high expectations for their Millennial children, that they can achieve anything they put their minds to and the sky is the limit

This was reinforced as they became older with historical markers that would have been improbable in the past, such as the first black president, the first female Presidential nominee of a major party ticket, and a wildly successful Millennial entrepreneur Mark Zuckerberg who transformed the way all generations communicate.

Another indication for this ethic of high achievement is their education level. “Millennials are on track to be the most-educated generation in history,” according to the Pew Research Center. In 2015, about 27 percent of Millennial women had a bachelor’s degree or higher by age 33, and 21 percent of men did. Those are higher percentages than Generation X, the Baby Boomers or the Silent generation by age 33.

So, how does an employer manage an achieving generation? First, never dumb down your message for Millennials. It is condescending and they will see right through it. Set high standards in performance in the work that they do. Be clear about benchmarks and reward them at each step of the process, not just upon completion of a goal. Remember—Millennials grew up in a 24/7 news cycle, texting and IMing. Speed and frequency is important.

Pressured

A lot of that high-achieving attitude Millennials have comes from the pressure they feel to achieve. A survey conducted by Inc.com revealed 67 percent of millennials said they felt “extreme” pressure to succeed, compared to 40 percent of Gen-Xers and 23 percent of Boomers.

In addition to having highly-involved parents and frequent “measurement” of their progress in school, Millennials feel pressured to succeed at a younger and younger age. “In a strange way, the fact that most millennials’ parents raised them thinking ‘the sky is the limit’ and ‘you can do anything you believe you can,’ then when they don’t immediately find success, they feel bad about themselves, and pressure to ramp it up,” wrote Dr. Rose Kumar.

In the workplace, this means recognizing the stress that they are feeling. A stable salary and clear expectations of their role goes a long way to reducing this stress, and can really improve performance, but smart companies are taking it up a notch. Wellness workplaces, programs that encourage physical exercise, a balanced diet, meditation, and a healthy social network are all part of a growing trend in the workplace that all generations can benefit from.

One common theme that runs through all four of these traits is the need for employers to set clear expectations. Research performed by Gallup found that one of the strongest correlations to workplace performance was an employees ability to understand what is expected of them.

Employers shouldn’t “wing it” when it comes to attracting and managing Millennials. Have a plan. Be clear. Think long-term.

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How to Coach Goal-Oriented Millennial Employees

It’s counterintuitive, but Millennials in the workplace are far more goal-oriented than their Boomer and GenX counterparts.

You may be thinking that Millennials are starry-eyed dreamers, but that was the Boomer generation when they were young. Or maybe you are thinking that Millennials are slackers, just drifting to and fro, but that was GenXers when they were young. Of the three generations currently in the workforce, Millennials are decidedly the most focused “on the prize.”

Like all generational traits, their heavily goal-oriented ways started with how they were raised. Millennials were measured and monitored relentlessly growing up by their parents and teachers with a focus on opportunities for growth and meeting their goals. From grades to test scores, credentials and certifications, trophies and rewards, Millennials are familiar with measurements of success against objective benchmarks. Goal attainment is their sweet spot.

In the workplace, it’s no different. Millennial employees crave frequent feedback and progress assessments. An MTV Millennials in the Workplace survey revealed 80 percent of respondents said they preferred “real-time feedback” over more traditional (often annual or semi-annual) performance reviews. Executives at many companies are adjusting to this Millennials mindset by offering more frequent reviews, more forward-looking feedback, and guidance and support to help ensure Millennials meet their professional goals.

There are discussions in some of the most respected companies to banish performance feedback reviews entirely, and replace that onerous process with live, real time feedback. In addition to offering faster feedback and review cycles, managers should establish clear benchmarks, objectively-based performance measurement, incremental goals and rewards for achievement. Providing Millennial employees with short-term goals that can be measured will improve their performance and help them remain professionally satisfied at work.

As digital natives, Millennials also respond well to using technology as a measurement device. Think about the fit-bit device for the workplace. Project management software and systems that introducing a ‘gaming’ element to the workplace (such as those that offer badges or points for achievement) can move Millennials forward at work.

A just-released white paper from Coaching Millennials provides six effective strategies every manager can use to attract, coach, and keep top Millennial talent. Along with helping Millennials focus on and achieve their professional and workplace goals, the white paper discusses the work environment, communication and much more. Taken together, these strategies can get any employer on the path to better performance from their young professionals.


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Download the white paper (free) here.

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Millennials Leading the Way to a Gig Economy

More than one-third of Millennials don’t have a “traditional,” full-time, 9-to-5 job with benefits. Instead, this generation is leading the rise of the “gig economy”. In this new post-recession environment, Millennials are trying to make ends meet and build a career through a variety of freelance and part-time contract jobs.

The term “gig economy” was first coined in reference to the days of 1920s jazz music, where musicians hopped from gig to gig, backing up singers and bands whenever they could to afford to keep playing music and stay on the road traveling. Today, it’s not just musicians performing gigs.

Why Gig?

Three main factors have pushed Millennials toward the gig economy: The economic/political climate, technology, and lifestyle preferences.

On the economic side, it’s all about the continued lack of job growth for Millennials. In the fourth quarter of 2015, Baby Boomers and older Gen-Xers were the ones that added the most jobs (around 378,000), while Millennials and younger Gen-Xers’ jobs shrunk by at least 35,000. Millennials were simply at the wrong place at the wrong time. To add insult to injury, many Baby Boomers are delaying retirement, which contributes to fewer jobs available for Millennials.

The Great Recession in the early 2000s occurred just as many Millennials were attempting to enter the workforce, which meant dismal job prospects and the delayed launch of Millennials’ careers. “The result has been a sizable population with no choice but to turn to whatever ‘gig’ comes their way in order to make ends meet,” according to a 2015 Fischer Phillips/Pew Research Center report.

A tiny bright-spot for Millennials was the passage of the Affordable Care Act, passed in 2010. This allowed Millennials to stay on their parents’ health plans till age 26. Sure, this is nice, but most Millennials would rather have a full time job and their own insurance, thank you very much.

Technology has also played a role in elevating the gig economy. Mobile connections and wifi have untethered workers from their desks, while social media and project management systems like Slack and Asana, online time tracking and remote desktops have made it easier to stay connected from afar. Combined with the growth of relatively new job markets like Upwork and Contently, which cater to freelancers and contract workers, it’s easier than even for Millennials to find remote work and be productive from anywhere. Millennials are quick adopters of new technology and are used to working from non-traditional offices and working on their own schedule.

Finally, for some Millennials, the lifestyle that a gig provides fits a type of lifestyle preference. Millennials famously value flexibility in their schedule and work environment — two things that gig economy jobs can provide. According to Millennials, the perks of being a full-time freelancer or relying on a series of contract jobs include freedom and independence that they believe a more traditional job may not provide, gaining a wide diversity of experience, having more chances to learn new skills on the job.

Why Not Gig

Despite the short-term benefits that a gig-job provides, most Millennials, given a choice, would rather have a full-time job with a salary, benefits, and an employer that invests in their personal and professional development. In fact, Millennials are more likely to prefer one employer that provides these benefits than start over every time with a new employer or gig. But for now, out of necessity, many Millennials are embracing the gig.

 

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.


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

the ofice

How Many Generations are in the Workforce?

How many generations of people are in the workforce today? The answer may be fewer than you think.

It is often said there are four or even five generations of people in the full-time labor pool, but the answer hinges on the definition of generation and simple math.

A generation typically spans 18 to 22 years. Currently, 97 percent of the workforce in the United States is 18 to 73 years old, a 56-year spread, according to the U.S. Bureau of Labor Statistics.

That means it is unlikely you will have more than three generations in your place of business — at least legally — at any given time.

Right now, the generations in the workforce are Baby Boomers, the oldest of whom are in their early 70s, Generation X members, and Millennials, the youngest of whom are just entering their teen years. Generation Z members are barely old enough to stay home alone (see Busting Myths – Generation Z).

Although there are only three generations in the active, full-time workforce, the generational differences are significant. A survey of thousands of employees in the insurance industry, for example, revealed that three-quarters of respondents agreed that there are important generation differences, and those differences “sometimes” or “often” pose challenges in the workplace. (See more about this in “Why Generations Matter” from LifeCourse Associates.)

These differences include how members of each generation set goals for themselves and others, what members of each generation wants from their managers and coworkers, and even how they communicate. Learn more about how Millennials are changing the workplace here.

 

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.

6 Keys to Maximizing Millennial Performance

There are more than 100 million Millennials in United States today, and this growing group already makes up one-third of the workforce. With an increasing number of Millennials in the workplace, businesses are smart to ensure they are helping members of this generation perform at their highest levels.

A new white paper from Coaching Millennials tackles six ways to boost their productivity, engagement and leadership capabilities.

Millennials do their best work in environments and workplace cultures that are open and transparent, incorporate consistent feedback on short-term and long-term goals, and nurture teamwork.

Millennials gravitate toward positive environments, and research and experience have shown that a “tough love” approach to managing Millennials is not effective. This white paper, titled “Employer’s Guide to the Millennial Generation: Your Six Keys to Maximizing Millennial Performance,” provides insights and practical steps you can take to maximize your Millennial employee’s professional performance.


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Download the free white paper here from Coaching Millennials.

Download Guide

Top four reasons that Millennials are leaving their “dream jobs”

Millennials Dream Job

60% of Millennials leave their jobs within a 3-year period

Warren Wright is Executive Vice President of LifeCourse Associates, a publishing, speaking, and consulting company built on the generational discoveries of Neil Howe and William Strauss. Warren has spent over twenty-five years in leadership roles at companies that use behavioral sciences, statistics, organizational development, change management, and media to help their clients.

Last week I came across a study that said 60% of Millennials leave their jobs within a 3-year period. This was part of the much publicized Millennial Branding Report that was released in August. Among the findings, 51% of companies report that the cost of training and development is highest when hiring Millennials. This is obvious, as on-boarding costs for new talent requires far more resources and development. 56% of employers revealed that it takes 3 to 7 weeks to hire a fully productive Millennial into a new role. This statistic is a little concerning, as it seems the expectations of companies is too high in terms of getting new employees up to speed on a role. Well managed companies with typically invest several months, not weeks in on-boarding and development.

  • 60% of Millennials leave their jobs within a 3-year period
  • 51% of companies report that the cost of training and development is highest when hiring Millennials
  • 56% of employers revealed that it takes 3 to 7 weeks to hire a fully productive Millennial into a new role

The top four reasons that Millennials are leaving their “dream jobs” might be less about Millennials and more about their managers. When I worked at Gallup, our consulting mantra revolved around the notion that your manager is responsible for 85% of your experience with the company you work for– they can make you or break you. It turns out that the reason for high Millennial turnover is bad management. Listed below are four reasons Millennials say they are leaving their dream job, and each one of thee reasons has to do the difference between good management practices and bad management practices:

#1: “No one is asking for my feedback”

Clue: If your Millennial isn’t happy, find out why. This is management 101. Frequent check-ins are critical especially early on ones career, and especially for Millennials, who are known as the “Feedback generation”.

#2. “I wasn’t clear about opportunities for advancement”

Clue: Provide clear opportunities for advancement (in excruciating detail). Millennials like to see a clear path for advancement, and it does not have to be straight up the ladder… it can be different responsibilities at the same level. The important thing is that the path is clear and someone is guiding them along the way.

#3. “The job was advertised as one thing, but it turned out to be something else”

Clue: Never inflate or misrepresent a role. Be completely honest about job expectations. Recruiters in HR try to put their best foot forward, but sometimes, if the job seems to be too good to be true, it probably is. Always temper job expectations with reality about the job.

#4. “It seemed like no one cared about me”

Clue: Show that you care. This is a big one. Remember, Millennials grew up with an entire team that was looking out for their well-being: parents, teachers, coaches, doctors, etc. Transitioning into the workplace  can be an entirely different environment than their life experience up until their first job. Frequent check-ins, feedback sessions, praise for good work, and constructive criticism for missing the mark– these are all important elements to successfully managing Millennials.

In summary, many of the reasons Millennials are leaving their jobs is directly related to the quality of the manager to foster high levels of productivity of the employees he or she manages. Millennials seem to be forcing the bigger issue of demanding better management overall. As they say, a rising tide raises all ships– better management not only helps Millennial employees, but all employees.

-Warren Wright
@MillennialCoach

http://www.CoachingMillennials.com

Top four reasons that Millennials are leaving their "dream jobs"

Millennials Dream Job

60% of Millennials leave their jobs within a 3-year period

Warren Wright is Executive Vice President of LifeCourse Associates, a publishing, speaking, and consulting company built on the generational discoveries of Neil Howe and William Strauss. Warren has spent over twenty-five years in leadership roles at companies that use behavioral sciences, statistics, organizational development, change management, and media to help their clients.

Last week I came across a study that said 60% of Millennials leave their jobs within a 3-year period. This was part of the much publicized Millennial Branding Report that was released in August. Among the findings, 51% of companies report that the cost of training and development is highest when hiring Millennials. This is obvious, as on-boarding costs for new talent requires far more resources and development. 56% of employers revealed that it takes 3 to 7 weeks to hire a fully productive Millennial into a new role. This statistic is a little concerning, as it seems the expectations of companies is too high in terms of getting new employees up to speed on a role. Well managed companies with typically invest several months, not weeks in on-boarding and development.

  • 60% of Millennials leave their jobs within a 3-year period
  • 51% of companies report that the cost of training and development is highest when hiring Millennials
  • 56% of employers revealed that it takes 3 to 7 weeks to hire a fully productive Millennial into a new role

The top four reasons that Millennials are leaving their “dream jobs” might be less about Millennials and more about their managers. When I worked at Gallup, our consulting mantra revolved around the notion that your manager is responsible for 85% of your experience with the company you work for– they can make you or break you. It turns out that the reason for high Millennial turnover is bad management. Listed below are four reasons Millennials say they are leaving their dream job, and each one of thee reasons has to do the difference between good management practices and bad management practices:

#1: “No one is asking for my feedback”

Clue: If your Millennial isn’t happy, find out why. This is management 101. Frequent check-ins are critical especially early on ones career, and especially for Millennials, who are known as the “Feedback generation”.

#2. “I wasn’t clear about opportunities for advancement”

Clue: Provide clear opportunities for advancement (in excruciating detail). Millennials like to see a clear path for advancement, and it does not have to be straight up the ladder… it can be different responsibilities at the same level. The important thing is that the path is clear and someone is guiding them along the way.

#3. “The job was advertised as one thing, but it turned out to be something else”

Clue: Never inflate or misrepresent a role. Be completely honest about job expectations. Recruiters in HR try to put their best foot forward, but sometimes, if the job seems to be too good to be true, it probably is. Always temper job expectations with reality about the job.

#4. “It seemed like no one cared about me”

Clue: Show that you care. This is a big one. Remember, Millennials grew up with an entire team that was looking out for their well-being: parents, teachers, coaches, doctors, etc. Transitioning into the workplace  can be an entirely different environment than their life experience up until their first job. Frequent check-ins, feedback sessions, praise for good work, and constructive criticism for missing the mark– these are all important elements to successfully managing Millennials.

In summary, many of the reasons Millennials are leaving their jobs is directly related to the quality of the manager to foster high levels of productivity of the employees he or she manages. Millennials seem to be forcing the bigger issue of demanding better management overall. As they say, a rising tide raises all ships– better management not only helps Millennial employees, but all employees.

-Warren Wright
@MillennialCoach

http://www.CoachingMillennials.com