Is This What Your Millennial Employees Want?

Is This What Your Millennial Employees Want?

Millennials may seem like a relatively new addition to the workforce to some, but as early as 2015, they made up a full one-third of the American workforce, when they overtook baby boomers to claim the largest share by cohort, according to Pew Research Center. What’s surprising about that figure is the fact that many employers are challenged to fully understand this group. They’re often seen as job-hoppers, disengaged and lacking the work ethic of earlier generations.

The issue: lack of understanding leads to disengagement.
 

According to some, what millennials really crave are opportunities to thrive in the workplace and better themselves professionally. Ryan Pendell recently wrote an article for Gallup titled, “Why Your Best Millennials Will Leave, and How to Keep Them.” A millennial himself, Pendell argues that a big part of the frustration this cohort feels is due to the fact that they feel they are capable of high-quality work but are often offered or treated like they are in entry-level jobs. “We aren't looking for entry-level work anymore,” he writes, “though we often feel like we are playing catch-up in our career due to a slow start after the Great Recession. Many of us have had one (or even two) major career shifts since college.”

It's a point many companies miss, says, Pendell who cites Gallup research which indicates that millennials value opportunities to learn and grow more than anything else. Yet, many millennials have not had this opportunity.

Related: Blendoor: the App for Avoiding Gender Bias in Recruitment

For employers hoping to attract and keep top millennial talent – and consequently, due to their numbers, top talent in general – professional development should be a big selling point for recruitment and retention efforts. There are many ways to do this: mentorship programs, regular (i.e., not just annual) performance appraisals, career development planning, employee training, etc. While these activities do take time, effort and money, they are worth it when considering the largest cohort in the workplace is looking for exactly that.

What are you doing to fully understand, and consequently engage, your millennial employees?

Shirley Engelmeier
Inclusion
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Shirley Engelmeier is the CEO & Founder of InclusionINC and Author of Inclusion: The New Competitive Business Advantage & Becoming an Inclusive Leader: ... Click for full bio

Most Read IRIS Articles of the Week: Feb 19-23

Most Read IRIS Articles of the Week: Feb 19-23

Here’s a look at the Top 11 Most Viewed Articles of the Week on IRIS.xyz, Feb 19-23, 2018


Click the headline to read the full article.  Enjoy!


1. Don’t Get Pinged by the Social Security Earnings Limit


I’d like to introduce you to Peggy. Born in 1956, Peggy will be 62 in 2018. She has worked in retail her whole life, the past twenty-five years spent in management. Peggy divorced from her husband 14 years ago, is still single and has no children. — Dana Anspach

2. We're Back to “Bad News is Good News” and “Good News is Great News”


This week the markets shrugged off last week’s fears and went back to the slow and steady melt up, despite economic news that looked likely to once again rock the boat. — Lenore Elle Hawkins

3. Q1 2018 Factor Views


Themes established in 2017 across a wide range of markets and factors continued to resonate through the fourth quarter. Economic growth was strong and supportive of equity markets across the globe, a range of volatility measures reached all-time lows, and business and consumer sentiment remained elevated. — Yazann Romahi and Garrett Norman

4. A Beneficial Basket of Commodities


Advisors and investors that feel they are hearing more and more about commodities and the corresponding exchange traded products in recent months are right. That is a natural result of dollar weakness and yes, the greenback is floundering again in 2018. — Tom Lydon

5. 3 Trends Shaping the Future of Asset Management


As the industry works to cope with new regulation, wades through an outpouring of new products, learns to satisfy investors’ shifting priorities and manages the active-passive debate, the viability of business units will be questioned, and at times radical measures will be taken. Peter Hopkins

6. 5 Ways Advisors Leave Money on the Table, and What to Do About It


My hope is that this article points out some opportunities for you to make more money and serve your clients at a higher level and that you decide to do something about it. — Bill Bachrach

7. The Market Has Gone Wild! Is It Time to Change Your Investment Strategy?


Whether the market is flying high or taunting your emotions with new lows and some bumpy volatility, here are four things every investor should keep in mind ... — Lauren Klein

8. How to Deepen Client Relations and Capture New Business Using Engaging Content


Why financial advisors NEED to understand much more clearly the power of good digital market. With tools like AdvisorStream, it’s easier than ever to get the content you need to drive leads and referrals today! — Kirk Lowe and Matt Halloran

9. Three Ways The Most Successful Gain Big Attention


How do some firms and ideas go from nowhere to everywhere in a few short months? All of a sudden a restaurant becomes popular, a gas station gains a cult following, or a Broadway show becomes too popular to get a ticket for years. — Maribeth Kuzmeski

10. Who Are the Hottest FinTech Firms and Influencers Around the World?


"Worldwide, $27.4 billion poured into fintech startups in 2017, Accenture reports, up 18% from 2016. With so much in play, it’s not surprising that 22 companies are new on this, the third edition of our list."  — Chris Skinner

11. The New Stock Market Normal Is Not What You Think!


Many sensational headlines have been written the past few weeks about market declines, but two things have increased for sure: the viewership and the ad revenues of financial media organizations — Preston McSwain​​​​​​​

Douglas Heikkinen
Perspective
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IRIS Co-Founder and Producer of Perspective—a personal look at the industry, and notables who share what they’ve learned, regretted, won, lost and what continues ... Click for full bio