There has been an abundant amount of buzz surrounding millennials the past several years. The media keeps releasing articles and reports, telling us all about this young and ever growing piece of the workforce. Granted, this is essential information if you’re hiring millennials. But what about after you make the hire? What do managers need to know about retaining their fledgling talent?
Before I dive into some tips of managing millennial workers, lets take a look at what most of us might already know about Generation Y:
- Culture is key. Millennials prefer a workplace that’s open, laid-back and operates with a flexible schedule.
- They’re looking for purpose. They want their work to mean something. Therefore, things like money and perks aren’t as important.
- Millennials prefer a 40-hour workweek. Life outside the office takes priority over ‘climbing up the ladder.’
- Gen Y favors a salary over commission. Having some form of stability is significant for them. Plus, it encourages comradery.
- They see themselves as individuals, but prefer to work in a team environment.
- Recognition is big with this generation. Encouragement is key, rather than giving orders or managing directly upfront.
- And of course, millennials prefer a casual dress code, but who doesn’t?
These are just several insights into the millennial workforce, but as I previously mentioned: how do we manage millennials after we hire them? To ensure that you can get the best work from your young employees and avoid turnover, I’ll share some advice I recently read from an article in Franchise Times, by Kimberly Savilonis. As Senior VP of Franchise Research for GE Capital, Savilonis mentions these 10 great tips for managing the “mighty millennials:”
- Clearly communicate expectations—the earlier the better.
- Be real. Provide accurate and ongoing feedback on their performance and their potential.
- Demonstrate realistic career paths so they understand what’s possible.
- Provide transparent information on pay practices. Share data to prove your points.
- Explain why an individual role is important. If possible, tie the job or skill to an employee’s long-term career goals.
- Offer flexible hours, if possible.
- Focus on results rather than face time.
- Treat millennials like adults despite generational differences.
- Ask their opinions and respect their contributions. They can bring new ideas to the business so be open to learning from them as well.
- Remember what it’s like to be young.
Take these tips into consideration while onboarding your next millennial hires. Having someone to look to as a mentor or for leadership will go a long way for your younger employees. Like any other young professional in time, they want to succeed!
Be prepared for your next group of youthful hires! Download the complimentary eBook below and learn how to coach your millennials towards a successful career.