Millennials are the savviest generation in the history. They account for 50% of the Indian workforce and set to make up nearly 75% by 2022, but are organisations really prepared for this tsunami of talent?
As the workplace demographics continue to shift, millennial influx continues to dominate the current workforce and therefore, the policies and practices of the workplace need to change as well. It is not news that Millennials are now the largest generation in the workforce. Already accounting for 50% of the workforce and set to make up nearly 75% by 2022, India is expected to become the youngest country by 2022, with an average age of 29, proof that this generation is certainly not going anywhere.
“Assigning multiple projects and deadlines can possibly confuse Gen-Xers and Boomers, but it fuels the Millennial mindset. Therefore, the best way to keep them engaged is to continuously empower them to build upon their skills.”
Millennials are tech savvy, flexible, and creative. However, they also have certain expectations and demands. And so far, not many organisations are able to meet them.
For decades the organisations have been practicing engagement policies that typically address engagement for the whole organisation under one policy, without any differentiation between the generations (baby boomers, GenXers and the Millennials). Since Millennials are the largest generation in history, organisations need to prepare themselves to address their needs. Companies have to understand that this generation is the juggernaut that can help them function more efficiently. Therefore, understanding their expectations becomes extremely important.
“It is not news that Millennials are now the largest generation in the workforce. Already accounting for 50% of the workforce and set to make up nearly 75% by 2022, India is expected to become the youngest country by 2022, with an average age of 29, proof that this generation is certainly not going anywhere.”
Even though Millennials differ in significant ways from the other generations yet they share basic employee needs with baby boomers (older workers). Therefore, when we talk about framing policies in order to engage Millennials it doesn’t just benefit millennial employees; it benefits everyone in the organisation. Millennials are forcing organisations and managers to re-evaluate workplace practices that have been in place for years simply because that was the way things were done.
When tailoring your organisation to a millennial group, understanding Millennials is the first step towards engaging them.
So, how to engage Millennials? Let’s explore some of the ways which can make workplaces more compatible for millennial workforce.
Understanding Millennial Psychology: To other generations, Millennials can sometimes come off as both arrogant and insecure.To ease this situation, management should attempt to find out what the millennial hires believe in, and align their work with those beliefs. This can make work palatable and engaging for the Millennials.
Deconstruct the Myth: It’s Not About the Perks: It’s not flexible timing, work from home, or happy hours that keep Millennials loyal to a company. These perks look lucrative in the beginning and might draw them in, but most certainly don’t make them stay. Having a good company culture that shows through in the workplace is your best bet.
Aligning Organisational Goals with Millennial’s Career Potential: Millennials aren’t interested in just working their way up the ladder.They glory in multi-tasking. They want constant feedback and stimulation. They find fulfillment in work that’s fast, challenging, and re- warding. And that can happen only when the organisations are ready to invest in them and align company goals with Millennials’ growth path
Empowering Millennials to Be Data Storytellers: Millennials are impeccable with technology. They are digitally engaged on an individual level. Empowered by the Internet, Millennials are technology wizards who can uncover data in a matter of seconds. They can train older employees to navigate through today’s complex social networks. This can keep both Millennials and the older employees engaged.
Mentoring Millennials: Millennials prefer to work with people with a constant state of collaboration and seek member- ship. They’re not like Gen-Xers and Boomers, who often prefer the “lone wolf” approach. Millennial tribes are better defined by popular culture and peculiar interests, and not by religion, political party, or demography.
Promoting Teamwork: Millennials prefer to work with people with a constant state of collaboration and seek membership in a tribe. While GenXers and Boomers, which often prefer the “lone wolf” approach, Millennial tribes are defined more by popular culture and peculiar interests, rather than by religion, political party or demography.
Keep the Projects Coming: Millennials can’t be pigeon-holed. They love multitasking and are good at it. They will often accept challenges that enable them to acquire new and valuable experiences. Assigning multiple projects and deadlines can possibly confuse Gen-Xers and Boomers, but it fuels the Millennial mindset. Therefore, the best way to keep them engaged is to continuously empower them to build upon their skills. Assigning multiple projects and deadlines can possibly confuse Gen-Xers and Boomers, but it fuels the Millennial mindset. Therefore, the best way to keep them engaged is to continuously empower them to build upon their skills.
Creating an Exceptional Workplace: Perhaps the best way to retain Millennials is to create a great workplace. What exactly does that look like? Well, it’s a place where employees feel empowered, have a sense of purpose, and know why they show up every day.
“Even though Millennials differ in significant ways from the other generations yet they share basic employee needs with baby boomers (older workers). Therefore, when we talk about framing policies in order to engage Millennials it doesn’t just benefit millennial employees; it benefits everyone in the organisation. Millennials are forcing organisations and managers to re-evaluate workplace practices that have been in place for years simply because that was the way things were done.”
Re-evaluating traditional methods of engagement doesn’t just benefit Millennial employees, it benefits everyone in the organisation. Millennials are like a breath of fresh air that has so much to offer. Ignoring or trivializing the contributions of Millennials will simply result in a disengaged workforce and will put the entity in jeopardy. The companies need to take the first step by implementing at least a few of these changes and reap the benefits eventually.
