Millennials are the largest and most highly educated generation in the workforce and are the future of the business world. For your business to properly utilize young people’s knowledge, skills, and experience to stay competitive, modifications to your current business practices may be necessary.

  • Understand Millennials

Young executives want their work roles to match their values. Purpose, impact, development, opportunities, feedback, guidance, flexibility, and balance are all important to them. They want to gain transferable skills, work with speed and change, blend their personal and professional lives, work autonomously with minimal guidance, remain engaged in their work, and know how their output today will impact their success down the road. If these elements aren’t found in their jobs, millennials will move to positions with other companies where they are.

  • Revaluate Company Culture

Structural and environmental adaptations may be needed to create a results-based performance culture. Flexible hours, individual and group mentoring, transparency, purpose, results-based awards, cause work, and skills/professional development with appropriate rewards are desired. Since millennials crave blended hours for maximum work performance, make sure your company accommodates them.

  • Improve Communication

Millennials want monthly feedback in person and through technology to work at top performance levels. They want to know what their individual contribution to the company is and how it fits with the big picture. Individual and group mentoring face-to-face, over the phone, and online helps create connections to streamline work goals, build stronger relationships, and inspire others to reach their full potential. Creative communication helps your company prosper. 

  • Invest in People

Sponsoring development and training programs helps develop young executives. They crave specific action plans to improve their output and want to know the rewards and opportunities they’ll receive for improving. Caring enough to create a development plan and provide clear, constructive criticism along with resources for improvement encourage millennials to increase their output and reach company goals. Showing dedication to their career development will encourage millennials to remain loyal to your company longer.

Understanding what’s important to millennials and modifying management strategies to accommodate is key to growing your business. Let the professionals at Innovative Employee Solutions help with payroll and HR administration, so you can refocus on your management needs today!

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