A topic of considerable debate in recent years among employers and HR theorists alike has been the growing influence of Millennials, who are rapidly becoming the dominant species of the workplace. Throughout this post we’ll be exploring: who Millennials are, how their characteristics are perceived to compare to other generations and ultimately, what makes them tick.
The terms ‘Millennial’ or ‘Generation Y’ refer to individuals born between the early 1980’s and the late 1990’s, thus reaching adulthood in the early 21st century. Although Millennials do share a number of characteristics with their Baby Boomer (born between 1946 and 1964) and Generation X (born between 1965 and 1980) colleagues such as the desire for a healthy work/life balance; the general consensus of opinion is that the differences far outweigh the similarities.
Arguably the most distinctive trait exhibited by Millennials is their tendency to job hop. Traditionally, Baby Boomers and Generation X employees value both job and financial security, due largely to the fact that many will have ‘settled down’ earlier in life. This unwillingness to ‘rock the boat’ has led to assumptions that earlier generations simply ‘get on with it’, they are prepared to work longer hours if required and more productive as a rule. Generation Y on the other hand, aren’t afraid to seek pastures new, particularly if they have been with a company for around two to three years. Some Millennials choose to move on if their careers aren’t heading in the desired direction while others may be at odds with the culture of the workplace.
When it comes to managing a multi-generational workforce, attempting to adopt a ‘one-size fits all’ strategy is likely to hinder employee productivity and increase staff turnover, two scenarios which all organisations could certainly do without! In order to ATTRACT, MOTIVATE and RETAIN Millennial employees, managers should first try to uncover what makes them tick.
Here are four much publicised Millennial motivators…
.jpg)
Work/ Life Balance
As touched upon earlier, Millennials place considerable emphasis on a healthy work/life balance, they also believe the traditional 9-5 working day to be somewhat old fashioned. When millennials are asked to name their most desired perks, flexible working opportunities usually take precedence. Unfortunately, some employers hear the term flexible working and immediately start picturing their staff working from home in their pyjamas, this is not the case. Many employees prefer to keep their home and work lives separate, they may just be looking to tweak their working hours. Luckily for businesses, time and attendance systems make the administering of flexitime and the monitoring of remote workers a doddle. For those who are looking to keep their staff at the workplace, some comfy office chairs also wouldn’t go a miss!
Image source: Calibre Office Furniture
Career Development
Millennials are ambitious, determined and often have their eyes set on those plush executive desks from the get-go. Generation Y are keen to progress up the hierarchy and have been known to get itchy feet if a promotion is not awarded within three years. I know what you’re thinking, a promotion EVERY three years is both unrealistic and quite simply unfeasible. An alternative incentive could be the provision of training and development opportunities. Millennials strongly embrace a learning culture and are more likely to remain with a company which offers them the chance to acquire new skills and qualifications. Human Resource Management software could prove invaluable with regard to identifying the ideal candidates for a new role and facilitating training activities.
Collaboration
Millennials like to collaborate with their colleagues and are generally much more team orientated than both Baby Boomers and Generation X. Consider your own office seating arrangements, do they evoke cooperation or isolation? If the answer is the latter, you may be unknowingly deterring Millennial candidates from joining your organisation!
Enjoyment at Work
Millennials are also big on the social aspect of work, they like to form friendships with their colleagues as opposed to professional working relationships. Organisations who provide break out areas where employees can relax and converse during break periods tend to enjoy higher staff retention rates than those who don’t. Employers, it may be time to start having a look at some office furniture stores!
.jpg)
ELF Productivity would like to thank Calibre Office Furniture for the opportunity to post on their outstanding blog.
Guest Post: Christopher Ainscough at ELF Productivity Limited