Why millennials want feedback, flexibility, and development.
I don’t know what the hell it is that people think millennials are like. Everyone keeps telling me that they’re entitled, lazy, selfish, or whatever, but I’m not seeing it. Maybe some of them are, but if you assume that all millennials share those traits, you’re probably wrong. And even if some do have those traits, you shouldn’t be using labels to treat everyone the same way.
The assumption that millennials are different from other generations might be based on individual beliefs rather than true generational differences. For example, some people might believe that millennials are more self-centered than older generations, but this could simply reflect their own personal values rather than an actual trend among younger workers. In fact, there’s a whole body of evidence disputing the idea that millennials are different in any meaningful way from previous generations. The so-called “Me Me Me Generation” was just a myth created by Time magazine back in 2013. And the idea that millennials aren’t loyal to employers has been busted.
But despite these myths, millennials are still a big deal when it comes to employee engagement. They’re currently the largest working generation in America, and Gallup reports that only 31% of U.S. employees are engaged at work — an 11-year low. Engagement is a predictor of company performance, even during a recession. And disengaged workers are “waiting around to see what happens.”
So how can companies engage millennials? What makes them tick?
Flexibility
For many people, especially younger ones, flexibility is now the new normal. Remote and hybrid work environments are becoming more common across industries, and more and more companies are offering unlimited PTO. Flexibility also takes other forms: accommodations for personal needs, such as time off for mental health, or flexible hours for parents. These kinds of changes tend to have a positive impact on employee retention, especially for millennials.
Structured learning, mentoring, and career development opportunities
Millennials are known for wanting growth opportunities at work. But unlike other generations, they’re uncompromising about getting what they want. If your company doesn’t offer structured learning, mentoring, and career development opportunities, you’ll likely lose out on millennial talent. One survey found that 64% of millennials say they would leave their current job for one that offered better career development opportunities. Pair new employees with a buddy or mentor from day one, and help them set milestones (e.g., 30/60/90-day goals). Check in regularly during their first year, and provide regular workshops, continuing education, and mentorships with more experienced workers.
Regular feedback and recognition
Like their Gen Z counterparts, millennials expect to receive regular feedback and recognition. Unlike Gen Z, however, millennials tend to be hesitant to ask for feedback directly, so leaders should acknowledge and act on this expectation without being asked. Feedback and recognition go hand-in-hand with growth opportunities, so they should be part of any strategy designed to retain young employees.
Values alignment and leadership style
Engagement means more than enjoying your job. It means feeling aligned with your employer’s mission, values, and culture. Millennials seek out employers who share their values and support their professional goals. So if you want to engage millennials, you need to make sure your company shares their values and supports their aspirations. Millennials also prefer supportive, communicative leaders. Prioritizing growth and development builds a culture of trust and communication.
Competitive compensation
While the above strategies are important, they’re not sufficient on their own. Companies must also offer competitive compensation packages to attract and retain top talent. Competitive compensation includes salary, benefits, and bonuses. It also includes non-monetary rewards such as flexible schedules, remote work options, and career development opportunities. A good starting point is to list competitive compensation alongside mentoring and training programs.
Well-designed millennial engagement strategies benefit all generations. Baby boomers, millennials, and Gen Z all want respect, to feel valued, and to learn something meaningful while on the job. By addressing shared core needs, well-designed millennial engagement strategies can become a cross-workforce investment. Flexible and collaborative changes driven by younger workforce expectations can enhance the workplace for all generations.