The Millennials, the generation with years of birth ranging from 1980 to 1996, is a large and diverse group – so vague generalizations would hardly be correct. However, at the workplace and the labor market, they are not like other generations.
What’s so special about them?
The controversy of the Millennials: they want to work hard and make the world a better place, but show low engagement at work. They want to be emotionally and behaviorally engaged in what they do, but are job hopping.
Remarkable fact: that’s not the case for those who work for innovative businesses. It’s not necessarily about giants like Google or Tesla – even small startups are part of this trend.
In pioneering fields, the Millennials tend to stay committed, be engaged and broadcast their companies’ achievements in social media like their own ones. They are a great asset – but often hard to motivate and retain.
This invites the thought: what if your business doesn’t involve anything revolutionary, but you as a business owner still want to have the Millennial workforce?
1. Use your strong points
Even if you stay away from revolutionary trends, such as artificial intelligence and environment-friendly vehicles, you still have a lot to offer.
First of all, it is stability and well-being.
Since the Millennials are burdened by student loan debt more than any other generation, they prefer full-time employment and appreciate stability of their income.
Inform your employees about your company’s success and growth. Let them know that they can rely on your company in terms of job security and fixed income.
2. Implement flexibility.
Make sure your employees can have a comfortable schedule and a healthy work-life balance. Check out some of the time-tracking tools. They help to control and improve productivity in the environment with the flexible work arrangements.
Research shows that the Millennials are more loyal to the companies with flexible working practices. That means, the ability to work remotely, have more autonomy in defining their work scope, and adapt schedules to the non-working activities.
What’s important here is communication and feedback. Stay informed about what’s essential for your employees, and try to respond to their needs.
3. Stay healthy.
The Millennials tend to take more care of their health than any of the previous generations, so they appreciate sports, healthy food, and ability to include physical activities in their routine.
Promoting healthy lifestyle doesn’t necessarily involve high costs. There are many options that any startup can make use of – for example, creating a soccer team or organizing a jogging group. Participate in these activities: it will strengthen your leadership and create less formal environment.
4. Automate and optimize.
Avoid manual work as much as possible, increase flexibility and create transparency of your work process.
To make this process even more efficient, involve some of your employees in implementation and adaptation of new approaches. Be open-minded, and don’t avoid experimenting with optimization techniques.
5. Create a perspective.
Millennials tend to consider professional growth and new skills as essential factors in their work activities. Give them an opportunity to increase their competence. Participating in webinars and online conferences, having a professional library in the office or extra time off for studies might be your solution.
6. Be mindful about the world around you.
Even if your business is not related to social problems, consider participating in environmental events and charity. If you have Millennials as your employees, this will definitely resonate with their intention to make the world a better place.
Of course, there’s no one-size-fits-all approach. Your actions may vary, depending on the interests of your employees and your financial capacities.
In any case, it’s crucial to communicate with people who are working for you, understand their attitudes and respond to their requests and opinions.
To sum up, provide financial stability, make sure your company’s values match the employees’ mindset and create work environment that makes your team members feel important. Offer opportunities to your employees and fuel their sense of purpose.