How To Keep Millennials Engaged at Work?
There are about 80 million American Millennials who are roughly between the ages 18 to 35. By 2020 they will make up 46% of the workforce and by 2025, 75%.
A Gallup poll from 2015 found that Millennials are the least engaged group of the workforce with only 28.9% of them engaged at work.
Research has also found that Millennials tend to jump from job to job, can’t stand bureaucracy, and distrust traditional hierarchies. So how can employers keep this growing workforce engaged, earn their trust, and get the most productivity out of them?
Millennials are on a constant search for meaning, and they’re demanding it more than ever at their jobs. Meanwhile, research has shown that 61% of North American employees don’t know their company’s mission. Companies need to take the time to educate Millennials on why a company exists and what it’s doing to help others. They also need to make sure employees know how their jobs are contributing to the overall mission and the impact they are making on the business.
Retaining Millennials hinges on being transparent. Transparency means sharing the truth about the company, providing feedback on performance, and encouraging communication. Transparency is valuable, and according to research amongst this group, transparency from leadership rates among the most important drivers of company loyalty.
Frequently give and get feedback
For Millennials to be engaged, they want open, authentic discussions. They want feedback, and they want to feel free to share their opinions and suggestions. They’re programmed to seek out answers and ruthless when it comes to demanding honesty and authenticity. However, according to only 19% of Millennials say that they receive routine feedback. Annual performance reviews and surveys giving or seeking feedback are no longer cutting it. Millennials are highly expressive and want to receive and provide feedback on how they or the organization is doing much more frequently.
Facilitate social connections
Millennials want to connect with their co-workers, both in and out of the office. Smart managers will devote a significant portion of their time to team-building and encourage socializing.
According to Margaret Heffernan’s TED Talk, “when Alex Pentland suggested to one company that they synchronize coffee breaks so that people would have time to talk to each other, profits went up $15 million, and employee satisfaction went up 10 percent.” Not a bad time spent on making sure social connections are formed.
Millennials will soon become the majority of our workforce and not understanding how to motivate them can put a company at a massive disadvantage. With turnover costing companies significantly and Millennials more than willing to job hop, companies have to make sure they are keeping them motivated and happy.