Attracting and Retaining Millennials in the Workplace

According to the U.S. Bureau of Labor, millennials will dominate 75% of the workforce by 2030 as baby boomers (and even Gen X) continue to retire. According to Pew Research, there are approximately 72.1 million millennials currently in the workforce in the United States alone. Born between 1981 and 1995, millennials are coming of age for leadership and executive roles.

What Do Millennials Want in the Workplace?

Stereotyped as entitled, disloyal, lazy, and emotionally needy, millennials, unfortunately, get a bad rap. And while millennials have their quirks, studies show they're more ambitious than previous generations and actively seek personal growth. They want to make an impact and genuinely seek feedback along the way.

How Are Millennials Different from Other Generations?

• While not digital natives like Gen Z, millennials are entirely comfortable with technology. As toddlers, some millennials saw the 1983 advent of the internet. And they all remember the first iPhone hitting the market in 2007. Today, 85% of Millennials spend most of their screen time on a smartphone.

• They are more urbanized than any other generation, with over half of millennials living in metropolitan areas.

• Millennials care far more about aligned values in the workplace. They seek a sense of purpose in the workplace so they can make a lasting impact on the world.

• Millennials are workplace "consumers": they "shop around" for jobs more than the generations before them.

These are some other things millennials value:

• Personal development.
  
• Open communication.
  
• Trust.
  
• Autonomy.
• Diversity.
  
• Collaboration.
  
• Healthy work-life balance.
  
• Scheduling flexibility.
  
• Ethical leadership.

Attracting and Retaining Millennials

Since millennials are still a valuable part of the workforce, attracting and retaining employees from this generation is essential. Here are some areas to focus on in your quest:

• Growth and Personal Development – Millennials prioritize personal development and want a workplace with training and growth opportunities. Millennials value training in both soft skills and life skills. By providing opportunities for learning, growth, and career advancement, you create a culture that millennials will flock towards.

• Internal Communication – Millennials crave inclusion and strongly desire involved communication. In the workplace, they look for real-time engagement and updates from the top down. This means internal communication must be top-notch and accessible from smart devices.

• Relationships – Millennials value authentic connections and relationships. They want to be friends with the people they work with, so build a people-focused, relationship-orientated infrastructure from the outset. And since they love collaboration, create an environment that encourages teamwork. They love making a difference and feeling appreciated, so establish two-way trust. Give them a voice. If they seek feedback, empower your management team to mentor them.

• Purpose – Since millennials crave finding purpose in their work, it's essential to see the bigger picture. Talk about your company's impact on the community around you and what part your employees play in that. Millennials also want to work for an organization that aligns with their values. Make sure your company values are evident and practiced in your culture.

• Cutting-Edge Technology – Millennials won't tolerate inefficient technology processes. They're uniquely positioned to bridge the gap between generations and bring new waves of technology to the workplace. As an employer, provide millennials with the digital world they want while leading your company to the next level.

• Flexibility – In our post-COVID world, remote work has become common. Although millennials still enjoy the traditional workplace structure, they embrace remote work head-on. They desire scheduling flexibility and the ability to work from home. In part, this trend exists because millennials prioritize achieving a healthy work-life balance.

• Diversity –  Millennials are highly in tune with the importance of diversity in the workplace. Since diversity is one of a millennial's core values, creating a diverse, inclusive, and equitable workplace is crucial.  

At Career Concepts, our mission is to provide the highest quality employment and staffing services in our market area to our clients and candidates. For over 50 years, we've been helping people streamline their search for the right job. Contact us today, and let us help you, too!