The Millennial generation, born between 1980 and 1995, comprises 100 percent of all working adults between ages 25 and 40. Companies that haven’t responded to the rise of this generation now find themselves floundering to maintain a competitive advantage as their older staff members begin to eye retirement.
Here’s what employers need to understand their Millennial workers.
They need to see loyalty before they reciprocate.
Millennials came of age during the 2009 recession. The oldest members of this generation, already in the workforce, saw their jobs and opportunities evaporate; the younger members graduated from high school or college into an economy that had no place for their talents.
As a result, Millennials are more hesitant to commit their loyalty to an employer than previous generations have been. Strong support in the form of competitive salaries, compensation packages and concrete paths for advancement can do much to rebuild that loyalty and trust.
They will work to burnout.
Contrary to last decade’s think pieces about the “laziness” and “entitlement” of Millennials, this generation is actually more prone to overwork than previous generations or than Gen Z, whose oldest members are just now entering the workforce.
Companies that employ Millennials cannot merely talk about work-life balance; they need to build this balance into their scheduling and structures in order to prevent their 25-to-40-year-old staff members from overworking themselves. Requiring the use of vacation time or sick leave, for instance, can help companies retain Millennial workers, reducing the costs of medical coverage and turnover.
They prioritize meaningful work.
Working simply for a paycheck is quite low on the list of priorities for most Millennials. Instead, this generation seeks meaning in its work. Having come of age in the 2000s, a decade that included 9/11, two wars and a major recession, Millennials understand that the world today is smaller than it ever was – and that leaving it better than they found it is a must.
To keep this generation engaged, build connections between their daily work and concrete results that make the world a better place. Ask them for feedback in solving problems related to their work.
Hire the Right Candidate Today!
At THE RIGHT STAFF, LLC, our recruiters build connections with employers and candidates throughout Minnesota, so we’re ready to make the right introduction when you need an outstanding new hire. Contact us today to learn more.