As highlighted in our previous post on ‘Why Are Millennials Leaving Their New Jobs?’, Millennials tend to jump from one job to another because they don’t feel like they are making an impact, they see no progress, and they place greater value on learning new skills.
One of the ways these issues can be addressed is by ensuring that Millennial talents [or those professionals who were born between 1981 and 1996] are kept engaged and challenged as they work. So, here are some of the ways you can boost employee engagement for Millennials:
For millennials who value the quality of work over the number of hours spent in the office, a flexible working schedule that allows them to work their own hours in a place that is conducive for them is very important.
In fact, a study cited by Small Biz Genius found that 76% of professionals nowadays admitted that they’d be more willing to stay with their current companies if a flexible working arrangement is available. Aside from increasing productivity, a flexible working arrangement can effectively improve profits and employee retention rates and create stronger engagement. If a flexible work arrangement is something new to you, try to start by introducing a once-a-week work-from-home option and ask your employees where they think they get the best work done – is it inside the office or outside?
Based on an article by Forbes on desirable job benefits, some of the aspects that Millennials prioritize include student loan repayment programs and financial assistance. Many individuals belonging to this generation tend to have limited access to financial knowledge, and the resulting stress can be a huge burden. Because of this, hosting free seminars to teach employees about various loan options is sure to be highly appreciated by Millennials.
As described in a Marcus guide to personal loans, only the most credit-worthy applicants become eligible for lower loan rates and better loan terms. Some lenders charge origination fees, processing fees, and other hidden charges. Being more knowledgeable about payment terms and interest rates can help Millennials experience greater peace of mind despite financial difficulties.
Millennials aspire to make a difference through their work, and if they don’t see the connection between their performance goals and the goals of the organization, it’s easy for them to leave their jobs and look for another one.
HR Magazine underscores that 90% of this generation is motivated by a mission, not an organization. This makes them more likely to support the ‘greater good’ and continue being part of initiatives that have social relevance.
As a leader, you should think about how you can effectively demonstrate this to your Millennial employees and the economic and social significance of their work to keep them involved in the issues concerning the company and its role in society.
Aside from comprehensive healthcare, millennials expect employers to have a holistic understanding of what wellness actually means. This pushes employers to think of ways the workplace can be changed to promote physical, social, and mental wellness. An article by the US Chamber of Commerce notes that even small efforts such as discounts on fitness classes, personal tracking devices, gym memberships, and access to nutritionists and other healthcare providers are rated highly by millennial employees.
If it’s well within your budget, you can also consider creating a designated nap room or wellness center where employees can take a quick break in the afternoon. The Guardian explains that even a nap as short as 20 minutes can result in improved attention, vigilance, mood, and alertness, which in turn, improve overall work performance.
Compared to their predecessors, Millennials are more likely to move to another job if they don’t feel listened to or if there is no definite career progression insight. The Entrepreneur highlights that 59% of Millennials agree that personal development is a deciding factor when choosing a job. Given this reality, it is imperative that leaders take the time to provide training programs and set up mentorship opportunities for the new generation of professionals. Employers must also clearly outline how an employee can attain career development through various promotions and new projects that will enable employees to harness important skills. These efforts will not only help your employees learn and grow but will also foster a stronger emotional attachment to their work and the company.