Why is it so hard to engage millennials? The employee turnover rate is worsening year by year and the job of a manager is getting more challenging. Not only are they responsible for scoping out and acquiring the best talent, they are also responsible for making sure workers are happy and that employee turnover rates are as low as possible.
There are more and more university graduates seeking employment, Millennials will form half of the workforce by 2020. Studies have proven that one of the characteristics of Millennials is that they are impatient, which means that they are job hoppers. They jump from one job to another for a pay raise or a job promotion.
Managers and CEOs want to find ways to engage millennials and keep them in the workplace but they don’t know how to do it.
Solutions to Engage Millennials
Share a compelling vision that creates alignment and really engages the team
Is sharing a vision really important? YES! It is the most important and the vision is what will guide the company for the years to come. In Simon Sinek’s ted talk, “Start with why – how great leaders inspire action” he discusses his theory which explains why Apple is so ahead of their competitors. Simon calls it, “The Golden Circle.” Unconsciously companies deliver a marketing message in the following sequence…
- Why (If applicable)
It’s a logical sequence and there seems to be nothing wrong with it. Alternatively, this is how Apple communicates…
People don’t buy what you do, they buy why you do it. Watch the Ted Talk video for the full explanation.
Same idea applies to employees in the work field. By sharing a compelling vision that creates alignment, it will boost engagement and allow workers to see that they are contributing to the company and making a difference. Millennials oftentimes seek positions that have purpose and that can “make an impact.” By sharing a compelling vision, it helps engage millennials and also ensures that everyone is working together to achieve the same goal.
Implement a recognition system
Many people feel undervalued at work because they feel the amount of effort they exert is far greater than the result that was achieved. When dedicating long hours and so much effort, receiving praise and recognition is a great feeling.
Many companies express gratitude indirectly by handing out gift cards, coupons, treating employees to dinner and more. The bottom line is they want to show that they value their employees but these forms of recognition may not always be the most effective. What is the best method? Applause and recognition.
In today’s society, recognition is one of the easiest and most powerful ways for a manager to engage millennials. Recognition expert Dr. Bob Nelson says, “Your people feel 5 times more valued when they get recognized for their work. Employees are 6 times more likely to recommend their workplace to others. They are 7 times more likely to stay at an organization and 11 times more likely to commit to their job.
Bucketlist offers a great solution that makes it easy for managers and employees to recognize each other for their accomplishments. If you’re interested in learning more, click here.
Reward employees by helping them achieve the life goals that matter to them
As mentioned in point #2, too often do entrepreneurs reward their employees with gift cards to coffee shops. The problem is that only 10% of employees value those gift cards. Meaning the other 90% don’t see the value in the gesture.
Brian Scudamore is the founder and CEO of O2E Brands. The company started out small and grew to over $100 million in 3 years. In his blog, he suggests,
“Help each other tick a few dreams off our bucket lists. It’s not rocket science, but it has transformed our company. People get to know each other outside of work, build powerful bonds, and develop themselves personally and professionally. When employees see their workplace as a springboard to achieving their wildest dreams (instead of an obstacle), they’re happier and more productive.”
Goal, Set, Review (GSR)
A “GSR” is a set of goals, tasks and questions that are reviewed between a manager and an employee on a weekly or bi-weekly basis. The format could look something like the following.
The purpose of the GSR is to check-in with the employee to see if they are hitting weekly goals and tasks. If not, they can figure out what can be done so that there is improvement for the following weeks. Questions are also formatted so that there is a chance for the manager to get to know the employee better and see how the manager can improve as a leader. It may be time consuming but it is effective. Building trust and relationships between employees and managers doesn’t happen overnight. It takes time but once that’s established, employee turnover will not be an issue. Managers shouldn’t talk to their employees with an attitude of superiority. Manager should talk to their employees like they would talk to a friend.
Ask what they really want
Sometimes the best solution is to directly ask what the employee is looking for. Not only does it provide feedback regarding current methods of recognition and rewards, it cuts straight to the chase to identify what they really value from an employer. A student who recently graduated from university in his 20s may want more responsibilities and opportunities to learn new skills. A father in his 40s may be looking for work hours that allow him to spend more quality time with his family. With this information, managers can organize and plan ways to satisfy people’s needs.
Contact us at Bucketlist to learn more on building a high performance recognition program.