The Millennials Are Coming: A User’s Manual
Much like the global population, companies are going through demographic changes. The next big challenge will be the integration of “millennials” into the workforce. This generation has new demands on its employers and on their corporate culture. Those who manage to understand and cater to the needs of this cohort will be among the winners of this shift.
Most importantly, it is essential to comprehend that the military-like leadership model of “regime” is passé — “coaching” is the new buzzword in the companies of the future. With this realization, employers cannot only steer millennials into becoming highly engaged and productive employees, but also passionate advocates for the company. For that, feedback in an adequate regularity and form is key.
This much has to be said: Millennials are no extraterrestrials. They don’t live in a world that is incomprehensible to older generations. Many values that have been ascribed to millennials are valid throughout all age groups.
Nevertheless, their growing rate within companies poses an existential challenge. Millennials share a range of values and attitudes that are not (as) important to older generations within the workplace — and thus, often not as important to the executive department. If one doesn’t succeed in providing a suitable work environment by meeting the millennials’ needs, productivity and performance are at risk.
What distinguishes millennials?
Their reputation as an apathetic and egocentric “generation me” does not do them justice. Millennials are individualists with high self-esteem, but nonetheless with a high need for orientation. They want to be able to identify with their work — not just as a temporary occupation, but as a profession. This contains a deep interest for the meaning of their work, as well as a request for transparency, participation opportunity and individual support. This requires approachable and authentic superiors with a sixth sense for strengths and potentials.
What do millennials want?
While millennials’ demands on their work are representative, they do illustrate conditions that are universally essential for a satisfying work environment. In contrast to older generations, millennials need something that was not wanted by their predecessors: frequent and detailed feedback. In order to increase efficiency and professionalism, the young generation wants to benefit from performance reviews and evaluations — ideally, those would occur at least once a month. In contrast, according to a study published by the Harvard Business Review, two evaluations per year usually met previous generations’ expectations.
What does that mean for superiors and companies?
The successful integration of millennials requires a balance between the institutionalized requests of older generations and advancement towards the ideals of a younger group. The involvement of millennials strongly depends on the communication between them and their superiors. A military seeming leadership regime will not lead to success.
Changes on company level are just as needed: Employees who feel supported by their company (“perceived organizational support”) build a more sustainable relationship with their employers.
Millennials are a generation of well educated, purpose-driven, collaborative and technologically versed workers with great networking skills. They circulate in potent networks and play a key role in driving the innovation of companies.
In order to optimally utilize this driving power, companies and leaders must establish a communication culture in which workers are supported as individuals who can improve their skills through immediate access to expertise and close relationships.
QuercusApp wants to improve in-company feedback culture, in order for your company to achieve its full potential. Thanks to our cloud-based application, your employees can learn from each other and optimize their skills faster.
