Millennials are defined as the generation that reached young adulthood around the year 2000. In an article dated September 2012, Upstart Business Journal suggests that this generation will make up approximately 75 percent of the workforce in the next 10 years. Hiring companies can benefit from an understanding of this new generation of workers. Such insight can ensure finding the best talent from this segment and provide ways to keep them engaged and motivated in their jobs.
Also referred to as Generation Y-ers, millennials possess distinct motivations, career goals, and work styles. According to a recent survey conducted by the University of North Carolina, 70 percent of millennials are planning to change jobs once the economy improves, and 45 percent are confident that they will find another job. Hiring companies may find formidable competition in attracting “master” millennials.
- To motivate the millennial, on the spot feedback and recognition is preferred by 80 percent, according to the University of North Carolina. Offer a performance system that provides ongoing feedback as opposed to the traditional annual or bi-annual appraisal process. Immediate feedback facilitates immediate learning and the application of that knowledge to current tasks. Ongoing feedback represents a constant opportunity for ongoing development.
- Meaningful work is preferred over higher compensation by 65 percent of millennials. Personal development is considered the most influential factor affecting their current job attitudes. Provide engaging tasks for the millennial and consider a rotating workforce that can learn a variety of business roles rather than the one role that an individual is hired for.
- Employ social media platforms as communication tools within your organization. Freedom in the use of social media is important to one in three millennials and it can be an effective, real time communication tool that promotes cross functional teamwork.
To encourage collaboration among generations in the workplace, take some advice from Google. According to Upstart Business Journal, Google found that millennials who aced interviews did not necessarily possess a corresponding ability to learn on the job. Google is encouraging older generation workers to team with Generation Yers so that the two groups can learn skills from the other.
Pride Staff takes time to understand the dynamics and culture of your organization. We ensure that the best talent is hired and that mutual goals can be achieved by the employee and the hiring company. Have additional questions? Pick up the phone and give us a call today. We look forward to speaking with you!