With millennials already accounting for 46% of India’s workforce, it is important that companies start thinking about making some changes to attract—and retain—this generation of workers. Of course, millennials are unique in their demands, thinking and attitudes, but then companies need to sit and take note of the following findings:
- 75% of the global workforce by 2025 will be millennials
- 70% of total household income in India is from millennials, according to a new report from Morgan Stanley research
- 28.9% of millennials find their work life engaging, according to a Gallup Poll
The talent landscape is changing significantly with millennials occupying a larger proportion of the workforce. However, what confounds many organisations is millennials’ willingness to switch jobs and companies at short notice. In effect, millennials are now known as “consumers of the workplace”—they shop around for jobs nonstop. Considering this state of affairs, employers need to know the factors that can make their company appealing to these candidates and act on them.
Here are five ways to keep your millennial employees fully engaged at work so that your organisation continues to thrive:
- Realise that millennials strive to bond together.
Millennials are often worldly, interconnected and impressionable. Of course, this area of vulnerability may appear blatant at first, but then astute managers use this weakness to involve and coach them. According to a Dale Carnegie research, millennials quickly open up to an immediate supervisor who cares about their personal lives and the effect that it has on their work.
- Communicate with them regularly; they crave for feedback.
When managers do not communicate to them about any task, millennials have a habit of falling into the assumption that their work is not valued. A study reported that failing to communicate with millennials regularly is one of the most crucial mistakes that managers often make. Millennials crave regular feedback on anything they do or say! In fact, they expect an immediate response for even an email! They seek out feedback because they believe that it is a kind of recognition inherent for their growth, and that their work is valuable to the company. Therefore, communicate regularly with millennials rather than follow traditional processes; a yearly performance review does not work if that is your idea of providing feedback.
- Come to terms with the fact that they do work that is varied and interesting.
Millennials tend to disengage quickly if they feel stuck in a dead-end job. They may be connected with people and the world around them. But, if you want them to feel connected with their work as well, then you must give them a wide berth. In other words, millennials never stop seeking out tasks that they are uniquely qualified for, where they feel that their skills will help the company. By providing training and stressing opportunities, managers can keep millennials engaged.
- Join and engage with them in their social groups.
Millennials desire to connect with their co-workers, both in and out of the office. Embrace social media and other online platforms, which—according to millennials—is the first step towards team building. Some may view it as a distraction, but then it can turn your workforce into a tightly knit community and facilitate strong communication.
- Give way when millennials want to try out something new.
Although you may have a good rapport with millennials, they do not love the idea of spending eight hours cooped up in an office every day—even if they are highly dedicated to their work. Flexibility is important to them, both in work and in hours of work. Of course, companies are embracing flexi hours and remote working to help millennials form meaningful connections with their work and their co-workers. Managers should also realise that they will get the most out of their millennial workforce by giving them the freedom they crave for, responsibility, opportunity and training.