Also called Generation Y, millennials are a demographic cohort that was born between 1980 and 1996.
Experts predict that by 2025, 75 per cent of the world’s workforce will be dominated by this generation.
So, how can a company attract, manage and take advantage of their youth and productivity?
Take advantage of their tech-savviness
Innovative, millennials are the driving force behind some of the world’s tech giants such as Snapchat, Facebook, Pinterest, Theranos, Instagram, Dropbox, Airbnb, Tumblr, and Quora.
Instead of prohibiting them from using smartphones, integrate personal devices and social networking sites or forums into the workday.
Take advantage of their constant use of technology and embrace their efficiency through tools such as AI, machine learning, automation, chatbots, and other technological innovations that they are keen on.
Recognize their work
Millennials value compensation, validation, recognition, and reinforcement of their talents, skills, and hard work. A simple “thank you” or “great job today” goes a long way.
Creating a strong company culture
Millennials aspire to work where they find meaning and purpose; beyond the monetary compensation for their skills and talent.
They are passionate about social change, demand accountability and appreciate work cultures that make a difference.
Therefore, build values in their organization that are aligned with their own motivations.
Offer work-life balance
Millennials prefer a workplace that equally prioritizes the demands of their careers and personal life. Create an enabling environment where they need time for both work and other aspects of life.
Provide leadership and guidance
Millennials are results-oriented and seek to maintain control over how and when they work. They, generally, detest micromanagement and ‘toxic work cultures’.
Rather than giving them a list of daily tasks and asserting your position over theirs, guide them to a goal they need to meet and provide leadership.
Allow them to lead
Millennials have a positive, can-do attitude and are self-assured.
Demonstrate that you trust their abilities.
Craft a future that gets them excited
Millennials want an assurance that their input adds value to the organization; that their jobs are fulfilling and regard the potential for career progression as a top priority.
Schedule regular career meetings and commit to giving feedback.
Show them what they can potentially achieve in your company and get them excited about a future within your organization. Be transparent with promises.
Despite being regarded as one of the most demanding workforce and the quickest to switch careers, these self-assured workers do not, generally, hesitate to seek guidance or help from their peers to get better results.
Hold team meetings or brainstorming sessions and cultivate mentorship programs to encourage collaboration.