We now have 5 generations in the workplace which has never happened before! Typically, in the past there has been 1 or 2 generations, but people are now remaining in the workplace for longer and Gen Z has entered the workforce as well.
As you may have realised, these are very different generations. In some ways they are exactly the same, but there are some distinct differences. As out teams get more and more diverse we won’t always see eye-to-eye and agree on everything. That’s OK, in fact that’s great. It leads to more innovation and ideas. For many teams this diversity is also a competitive advantage.
Generations represent one aspect of diversity. The Millennial generation, in particular, is now the largest cohort in the workplace, they are tech savvy, ambitious and restless, so what’s the secret to retaining them?
Like previous generations the Millennials (also known as Gen Y) want to feel valued at work, enjoy time with family and friends, and engage in a variety of hobbies and sports. But they have specific qualities that set them apart from other generations.
Formative experiences have shaped this cohort into a very different workforce, and employers must recognise and respond to this change or risk losing talented staff again and again. But how? Here are some useful approaches:
1. Understand what drives them.
The Millennial generation came of age during the global financial crisis and experienced first-hand the impact of redundancies and retrenchment on their families. They watched on as cost-cutting took precedence over loyalty. So, it’s no surprise that they now place personal needs above corporate interests. They need meaning and purpose at work and require line-of-sight to the business goals. They want to understand explicitly how they contribute to the greater team effort, so show them.
2. Provide constant communication opportunities.
These digital natives are always ‘on’. They are technologically connected in ways previous generations never were, and they want, and expect, to listen and be heard — whenever, wherever. Anonymous, micro-feedback platforms provide immediate real-time opportunities for staff to innovate, provide feedback, contribute or complain. These platforms are also a lot easier to utilise, and far less expensive and cumbersome than staff engagement surveys.
3. Stretch them, challenge them and harness their inner Zuckerberg.
The Millennials have grown up watching entrepreneurs hit lofty heights and amass immense wealth and status — all before they turn 30. The barriers to entrepreneurial success have never been lower and the ‘why not?’ attitude has never been stronger.
Acknowledge this and shower your Millennials with professional development opportunities, particularly in-house mentoring. This cohort is incredibly diverse and enjoys teamwork, so create temporary project teams to innovate and solve difficult problems. Many tech companies set aside a day each month for digital solutions forums where staff are encouraged to be creative and think audaciously to create the next big thing.
You can read my full list of useful approaches on Millennials in the workplace in my new book “Respect Trumps Harmony”, which is available at all good bookstores, or you can order a copy by clicking the banner below!
