1. Progression and recognition
According to a Capital Group study, 67% of millennials reported that being loyal to their employer is important to them. For a generation that came of age during a global recession, job security and a long-term future with an employer that values them is essential.
Our research into Nissan backed this up. Progression was key – and this went hand-in-hand with ongoing recognition. And it was a similar story for Izzi, who turned down an opportunity with another agency because she didn’t think they were committed enough to her own progression within the company.
Provide your employees with clear progression opportunities and equip them with the tools they need to develop and continue their careers within the company. You’ll be rewarded with much better staff retention.
2. Work-life balance
The world has changed since Generation X ruled the roost and millennials don’t want to be confined to the traditional nine to five.
This is a generation that values work-life balance and is unlikely to take part in the old fashioned “last one to leave the office” contest – and a generation that knows the technology exists to let them work remotely.
A major driver behind Izzi leaving a previous role was the constant pressure to come in early, skip lunch and work late. Those that didn’t were frowned upon – while those that did were burnt out and resentful. Jaded employees who feel like their free time is being eaten into are unlikely to be doing their best work.
Conversely, they’ll thrive if you foster a healthy culture where your team feel motivated to be as productive as possible, but also know they aren’t going to be penalised for not checking their emails after they leave.
It’s not always possible but if you can offer flexible working, then do it. Give your staff the autonomy to work from home, choose their own hours and don’t make them use annual leave for anything that isn’t a holiday.
The benefit to you? Studies have shown working in this way creates happier, more engaged employees and boosts productivity, making it a win/win situation for both you and your staff.
3. A social environment
They may get a bad rap for staying in glued to their phones instead of going out but in reality, millennials are a social generation. Many entered the world of work fresh out of university, where socialising and living with their peers was the norm – and they want the same experience out of their career.
Millennials value the opportunity to bond with their colleagues and are more likely to want to come into the office if their environment is social and positive. At a previous agency Izzi worked for, everyone finished a little early every Friday and sat down together for a beer and a quiz in the office. It was very casual and there was no pressure to take part – but it meant the week always finished on a positive note and gave the team an important opportunity to decompress together.
Work can’t always be fun and games but offering your staff a variety of regular social activities, both in and out of office hours, is essential for keeping your team engaged with your business and with each other.
And yes, sometimes there might even a ping pong tournament – but it can’t be the only thing you rely on to keep your millennial employees engaged.