Series on Generations

Generations Across the Workplace: Millennials

If the trend toward work-life balance first emerged with Generation X, Millennials are the generation taking it to a new level. Born between 1981 and 1996, Millennials have experienced both a major recession and a global pandemic—two events that significantly shaped their careers and perspectives on work. Add parenting and raising children into the mix, and this generation has demonstrated remarkable resilience and adaptability.

Lost your job because of the recession? Okay, I’ll move back home.
Faced with choosing between attending your child’s ball game or staying late at work? Okay, I’ll call out and update my LinkedIn profile.

Millennials place a high value on well-being. Most were raised by Baby Boomers—the generation with the greatest accumulated wealth—who worked hard to give their children more opportunities. As a result, Millennials are motivated by flexibility, purpose, and consistent feedback. Unlike Boomers, who averaged over eight years in one role, or Gen Xers, who averaged around five, Millennials stay less than three years in a position on average. Longevity isn’t their measure of loyalty; growth and alignment are.

Two additional hallmarks of this generation are their expectation of feedback and demand for leadership transparency. So, what can employers and managers do to effectively motivate and retain talented Millennials?

• Offer flexible or hybrid work arrangements. Start by setting clear expectations, then collaborate on a plan that balances both organizational and employee needs.
• Build accountability and provide effective feedback. Learn to distinguish between the three types of feedback—Acknowledgement, Coaching, and Evaluation—and deliver each appropriately and with sensitivity.
• Adjust your communication style. If you’re a Gen Xer, aim for clarity without excessive directness. Before making decisions, consider who has been engaged in the process, and practice transparency.
• Understand individual motivation. Take time to learn what drives your Millennial employees—don’t assume it’s the same as what motivates you.
  
  

Finally, organizations with clear values and purpose that align with those of their employees create a shared sense of meaning—a reason to show up each day and do our best work.

Reference for more insight: IACC