Do you remember when Baby Boomers (1946-1964) were dubbed the “Me Decade?” Then Generation X (1961-1981) were considered “slackers?” Well, Millennials (1980-2000) are now labeled for being the lazy generation that lacks a strong work ethic. While this may be true for some, most millennials consider themselves more efficient and innovative than previous generations. The misconception of being lazy is actually just them creating an easier way of living. The amount of technology that is accessible for millennials allows them to work smarter, not harder. And isn’t that what a company wants from its employees?
With that being said, in order to keep a millennial at your company try implementing these tips:
Offer Student Loan Assistance
A recent strategy that millennials gravitate towards are the businesses that offer a student loan debt relief program. With over 1/3 of the workforce being millennials, this incentive speaks to so many graduates with debt. The average college graduate has accumulated more than $28,000 in loans and are in need of an opportunity where their education can be benefited. Since most millennials aren’t thinking of saving for a retirement plan, a student loan plan will get and keep them interested in your company.
Offer Training & Leadership Opportunities
Millennials have grown up being praised for everything they do since they received their trophy just for showing up to a soccer game. The mentality of being awarded for their work extends to the workplace too. The reason so many millennials are jumping from one job to the next is because their leadership skills are not being fully developed. A good way for businesses to keep millennials at their company is by offering them leadership opportunities or feedback. They want to know how good (or bad) they are performing. When millennials have a sense of importance within the organization they will tend to show up for work every day.
Offer Working From Home Opportunities
Millennials like flexibility. Allowing them to stay and work from home once a week or month will be an incentive that they will appreciate. Besides, emergencies happen and having a cultural fit for millennials is more important than the paycheck.
Offer 40 Hour Work Week
Millennials grew up knowing their parents would be home late or miss their soccer game or have to cancel their vacation because of their harsh work schedule. That is why they are committed to only working the 9-5pm work hours. Millennials want to enjoy their time away from work and aren’t ready to be a loyal employee just yet. Adapting to the standard work schedule will benefit the commitment of millennials in the workplace.
Millennials were the first generation to fully understand and use electronic devices to their full capabilities. Giving millennials tablets or laptops to work from allows them the flexibility to work at home or away from their desk. The mobile access to work and co-workers will keep millennials in touch at all times, which they already know how to do.
Offer Social Media Access
Snap chatting a photo, tweeting about what they had for lunch or posting a photo of their cool work space on Instagram are little things that businesses can allow millennials to do while at work. Since they’re already connected to social media anyways let them promote your business in the process.
Sooner rather than later, millennials are going to take over the workforce, 27% already have. The best thing businesses can do is offer millennials something they don’t want to miss out on (Fear Of Missing Out). Take Google and Quicken Loans for example, tons of millennials are jumping at the opportunity to work for a company with a cultural fit that matches their own.
Ultimately, millennials want the same thing that every other employee wants: flexible schedule, a cultural fit and relationship with peers and learning opportunities. Even though millennials have gotten a bad reputation over their twenty-some odd years, don’t worry, these tips will surely attract the younger generation and keep them coming to work every day.