Attracting, Retaining and Advancing Millennials in the Workplace
Creating a millennial friendly workplace is essential to the success of any company in the 21st century. Millennials in sales and marketing or the data sciences and analytics are the largest generation in the workforce within many industries – including Consumer Packaged Goods (CPG). That’s why a growing number of organizations are already focusing their efforts upon not only attracting these talented individuals into their workplaces, but also finding effective ways to retain and advance them throughout their respective careers.
Attracting & Retaining Strategies
Since they’re such a unique demographic, it can prove challenging to land such candidates without the right approach. In order to attract this group, you need to know some of the requirements that they are looking for in a career.
- Enticing Work Environments
The primary motivation for many previous generations was their paychecks. In addition to good pay, 88% of millennials also prefer a collaborative work culture rather than a competitive one.
74% of millennials want flexible work schedules. The up-and-coming generations also want the chance to work remotely, rather than drive to a traditional office.
- Opportunities to do Meaningful Work
Your business will need a mission that matches the ideals of millennials, so they feel a sense of purpose. In fact, 64% of millennials say it’s a priority for them to make the world a better place.
- Competitive Compensation Packages
Although compensation is one of their top motivators, millennials also find loan repayment and tuition assistance, healthcare incentives and global work/travel opportunities all very appealing.
Leading & Advancing Them into Leadership Roles
Once an organization bolsters its millennial recruiting strategies, it should turn its focus toward implementing useful ways to lead them. Here are some recommended strategies.
- Provide Empowerment
One of the most powerful techniques of developing leadership skills is delegating the authority to make decisions. Give them the training and tools necessary to complete their tasks successfully, then step aside to let them do their best work.
- A Willingness to Change
If you show millennials that you are willing to make adjustments as a leader, then it will improve employee engagement and retention.
- Employee Acknowledgment
Provide them with regular, consistent feedback to help them to feel like they’re making a difference in the workplace and the world.
- Be Understanding
Millennials don’t want condescending leadership, but rather leaders who are willing to serve alongside of them on a team.
A majority of millennials prefer to work for companies that have priorities aligned with theirs – such as open communication, respected values, authenticity, and opportunities to challenge the status quo.
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