If you’re having trouble keeping talent under the age of 40, your management style might be driving millennials away.
Millennials comprise 100 percent of all workers ages 20-38, so companies whose leadership and management styles repel this generation put themselves at risk of losing the incoming talent they need to survive.
Things you should know about managing Millennials:
Millennials like a challenge.
Workers under age 40 are the most educated generation in workforce history. Many have put in at least four years of college, and a large number have one or more graduate degrees as well. In addition, the entire generation grew up during a time of rapid technological change.
The result? Younger workers expect to be lifelong learners. They embrace challenges. And when managers don’t provide consistent opportunities for their growth and development, these workers infer that the manager does not care about their present or future performance.
Attract and retain top talent in this generation by putting learning and growth opportunities front and center in your employment brand and workplace culture.
Millennials want to make a difference.
The Millennial generation came of age during a time when education was encouraged, connectivity to world events was rising, and the Boomers who raised them promised they could change the world through their own efforts.
As a result, Millennials don’t prize loyalty for the sake of loyalty. Rather, they connect with an employer through participating in a culture that makes a difference and gives back to the community and the world.
To connect with younger employees, put the company’s mission, vision, and values first. Explain not only what needs to be done, but why and how it connects to a larger ethic.
Millennials demand to be valued.
The 2009 recession hit Millennials hard. Many saw their early savings wiped out or their first “foot in the door” of employment lost. While the stock market has recovered, wages have not.
Consequently, Millennials prefer that their value to a company be expressed in terms of a living wage scaled to the city in which they work, reliable benefits, and a “set it and forget it” retirement plan. This solid foundation can help to rebuild the generation’s trust in employers and willingness to go “all in” on their work.
How to hire top Millennial talent.
To find and hire top talent, it’s imperative to partner with your recruiter. Your recruiting firm has extensive networks that are comprised of the industry’s best talent, as well a niche market information that will position you for the best recruiting outcomes.
How TERRA Can Help
At TERRA Staffing Group, our recruiters can help you understand the changing demands of today’s top candidates and adjust your management and recruiting approach to resonate with their needs.