Millennials may not be the most loyal group of workers, but they are an invaluable asset to businesses of all sizes. They bring a fresh perspective, passion and a drive to succeed. But you must tread carefully with this group. A dissatisfied millennial could quickly lead to an open position if you aren’t careful.
Trust and transparency
Trust and transparency are the key ingredients of a successful working relationship. Without trust on both sides, resentment will quickly fester.
“It’s not going to work if the employer doesn’t trust them,” Meadows told Business News Daily. “It creates resentment and employees who are more outspoken.”
The same goes for a lack of transparency. Millennials are an ambitious group who will meet and exceed the goals if they know the endgame and the rules. They want to know what challenges they’re facing instead of being kept in the dark.
Meadows said pairing a millennial with a more tenured employee from an older generation can be a boon for your business. “They are coming in with fresh ideas.”
Inspiration and interest
Beyond an open and transparent environment, Meadows said it’s important for business owners to keep their millennial employees interested. Millennials bore easily and won’t wait years for a promotion. They want the next big thing yesterday and will go to great lengths to get it.
“There’s a lot more fatigue over doing repetitive jobs,” Meadows said. “They want to be inspired at work, not necessarily invested in work.”
Engagement and connection
Millennials want to feel like part of the team. Collaboration is important to this group of workers. The pandemic has made that more difficult, which means business owners must make sure employee engagement is still high. Left unchecked, disengagement could hurt productivity.
“One of the things we observed through all our research is people are feeling isolated,” Janzer said. “Their sense of belonging has taken a hit. It’s not surprising. We’re used to being in the office with colleagues, catching up at your desk or at the water cooler. That has been taken away. Companies have to figure out how to build a sense of community.”
Key takeaway: Retaining millennials takes work on the part of business owners. The millennial generation works best when there is trust and transparency, when they are inspired and engaged, and when they feel like part of a team.
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