Millennials are lazy narcissists known as the “me, me, me” generation, at least this is what the media has conveyed to us over the years. Whether fact or fiction, we see more and more companies designing perk-friendly and collaborative cultures to keep them happy. The truth is, many older Millennials have been in the workforce for 10+ years, which means that they not only have a good amount of work experience, but every year, more and more Millennials will be ascending into leadership roles.
A primarily Millennial workforce is comprised of individuals born between 1981 and 1996, and this generation is undergoing a dramatic shift: they’re no longer the youngest generation on the scene, and they are starting to mature into older, higher ranking professionals. The desire for meaningful projects, the opportunity to flex their mental muscle, and the feeling that something important is coming from their efforts, drives their work in a way that requires maintenance.
Every generation seeks a healthy work-life balance, but it’s Millennials who most demand it from their employers. This begs the question: how do managers effectively engage and retain this major group in the workforce?
- Implement Collaboration – Millennials enjoy working in teams and are very tolerant; this is no surprise, as they have been raised on sports teams, standardized testing, and group learning.
- Work/Life Balance – This generation grew up with an emphasis on family, which has created a shift in the workplace for a better work/life balance.
- Strong Relationships – Millennials prefer a more interpersonal relationship with their management and to know that they care.
It is important to understand how newer generations compare and work with previous generations. Due to the natural influx of the upcoming generation, it will be crucial for managers to adapt their leadership style to the motivation needs of not only Millennials, but all current and future generations:
- Give Recognition – Did you know that receiving recognition is the most important performance motivator? Focus on listening, which will reinforce respect among employees.
- Make feedback shorter, more frequent, and constructive!
- Have plenty of educational opportunities – Present many opportunities to learn from the company’s key players.
- Reinforce a strong company vision and defined mission statement.
Ultimately, as more of the Millennial generation takes control, it is crucial to understand what can motivate and lead this group.
Sara Nash, Recruiter, About Sara
The RETS Team brings a deep, strategic understanding of the real estate industry to your recruitment needs. Click here for more insights & tips.
