What more can be done for millennials?
Why do we still focus on the generation born between 1980 and 2000? Although many of them are approaching their 40s and may be managers or soon to be, they remain a significant group in the job market. According to forecasts, by 2025, Generation Y will occupy three-quarters of all jobs. Therefore, it is crucial to adapt management and motivation strategies to their needs and expectations.
Motivation and challenges: what matters to Millennials?
How do you motivate employees for whom salary is not the most important factor? What should you do when millennials openly communicate that they expect a friendly work environment? The average tenure at one job for this generation is about two years. Companies must face this challenge to retain younger employees for a longer period.
Motivational strategies: how to attract Millennials?
Dialogue and engagement
Companies that actively engage in dialogue with younger employees, involve them in important projects, and recognize their efforts with quick rewards are more likely to succeed. Carla Harris, Vice Chairman of Wealth Management at Morgan Stanley, emphasizes that millennials reach leadership positions faster, which compels companies to adapt to new realities.
Meeting basic needs
Research by Harvard Business Review and The Energy Project indicates that employee engagement increases when their four basic needs are met:
- Value: Employees feel appreciated when supervisors show support.
- Purpose: They understand the significance of their work and its impact on the company.
- Focus: They can concentrate on one task at a time.
- Rest: They have the opportunity to take frequent breaks.
Leveraging Millennials' potential in the team
To effectively motivate Generation Y employees, it is beneficial to:
- Involve Them in Decision-Making: Include their opinions in decisions and give them a voice.
- Provide Support and Relevant Tasks: Assign tasks that match their interests and skills.
- Integrate with Experienced Employees: Millennials can bring new technologies and social media skills that can benefit the entire team.
Summary
Motivating millennials requires understanding their unique needs and expectations. Companies that adapt their management approach and create a development-friendly environment are more likely to retain valuable Generation Y employees for the long term.
