Retaining Millennial Talent in the Workplace

Over the years, Millennials have obtained a “job hopping” reputation, but it’s not for the reason you might think. Millennials can largely be categorized feel fulfilled when their purpose in the workplace revolves around giving back to the world, bettering their life and the lives of those around them. Only 5% actually crave money, and just 1% crave power. As a result, Millennials are notorious for leaving companies that do not give opportunity for upward mobility or career and personal development.

Clear Instruction/Expectations

In terms of shaping Millennials into leaders, Millennials need detailed feedback that properly establishes expectations. Thoroughly guide them. Give new employees the proper training and tools to set up a productive process. Millennials can adapt to on-the-go, real life learning as long as they are given the tools to do so. And once they get a hang of it, trust them. The last thing a Millennial wants is to be micromanaged. Empower them to function autonomously and don’t smother them.

In contrast, there’s a difference between being hands-off and allowing a Millennial to utilize their best abilities. When goals are unclear, Millennials feel lost and lose motivation to work, ultimately leading to their departure. Be a mentor, not a boss. Lead by example.

Growth

Here’s the ugly truth: you’re not the “happily ever after” company. Your Millennial will probably leave in 3-5 years, if not earlier. Make the most of what they can offer now and give them rapid career progression paths with multiple options. Adapt your business to their speed. The more avenues to explore, the more likely they stay longer to explore them. Millennials are synonymous with technology - always growing and progressing. They won’t be satisfied strolling along easy street for long. If things feels stagnant, they will leave for more opportunities or bigger challenges.They are “self-centered” in that way, but they’re trying to do what’s best to allow them to grow. Just as you want your business to grow, they want their career to grow.

Flexibility and Understanding Values

Millennials are more than capable of obtaining accolades, certifications, and awards. But they want something more. Every person is unique and has a personalized career path they need to be supported.

There is a strong need to maintain a healthy work-life balance amongst this generation. They are juggling standard business hours and their full-time job of being a member of the family. They’re in the process of buying houses, starting families, taking care of elderly parents, etc. They are in a transition period of their lives and need the flexibility and empathy of their employer to understand where their concerns lie. On top of that, they’re the most diverse work group to date. Be able to accommodate for family emergencies, vacations, and working remotely and respect their boundaries and values.

Salary may not matter, but benefits do. Many Millennials are financially cautious. They grew up during the Great Recession and saw how it affected their parents. They know the importance of conserving money, so give them savings and retirement programs. Adoption assistance and maternity/paternity leave are also extremely important to new families. PTO is more than just decompression time, it’s a way to make ends meet. Providing healthcare and childcare is a must.

But what differentiates the good from the great?

Take Andculture, for example. This experience design and engineering agency goes above and beyond to encourage employees to build an exceptional experience for its clients and themselves. Their self-formed fitness group meets daily to run and also hosts yoga and meditation classes that meet twice a week. This not only encourages physical health but a sense of understanding and encouragement amongst coworkers. Andculture hosts a monthly lunch that is completely employee-driven. Coworkers prepare one dish for the entire company, much like they would when collaborating on a client project. In addition to the fitness and healthy lifestyle choices, Andculture also works to encourage mental growth by allocating time for biweekly lab sessions for employees to team up and explore other creative avenues or interests - without having to worry about meeting deadlines or rapidly generating profit.

As a result of these personalized growth opportunities, Andculture is rewarded with engaged, dedicated, and more creatively-innovative employees who have a better grasp of themselves and can navigate each others’ work habits. At the end of the day, it boils down to this - make the most of what time you have and treat employees like a people, just like you would any generation. It’s a mutually beneficial relationship. Learn their values, support their goals, guide them to grow, and never abandon them for a paycheck because they wouldn’t do that to you.

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