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It is coming; research suggest that by 2020 about 50% of the workforce will be Generation Y, or what you probably know as Millennials (born roughly between 1981-2000). So what does this mean for employers and business leaders? How can you prepare yourself to attract and retain such a high percentage of the workforce? Here are three simple things to consider:
- Keep them stimulated and engaged. You think a snap on Snap Chat ends quickly? That is nothing compared to how long a Millennial will be with you if they are bored. Give them something to do that stimulates them mentally. Millennials are perceived as being better at “multitasking” than others, and while they may look busier, this may hurt their productivity. Help to channel the energy in a focused direction, but keep them engaged.
- Talk to them frequently and consistently. It can be argued that Millennials struggle with being patient as they seek instant gratification; depending on the research you conduct you may find this to be mostly true or only somewhat true. The fact remains that Millennials want to know where they stand and that there is some kind of recognition and movement. Have one-on-one’s to discuss their performance, give them specific goals and objectives that they can tangibly measure and achieve, and give them positive and constructive feedback.
- Appeal to their core characteristics. Millennials want to have a great experience and find meaning in what they do beyond the daily tasks. In the interview process, get to know the Millennial candidate and seek to understand what appeals to them; do not just talk about the job tasks. Organizations that have a well thought out mission statement and core values, that they actually live out, will find more success in retention. (At our company, Trevero, we offer an assessment, the CORE Assessment, that will help you uncover these truths about an individual in under 10-minutes.)
Implement these behavioral changes intentionally and with effort in your organization, and you will likely see a boost in your organization’s retention of Millennial talent.