Millennials – Are we loyal?
Another widely-accepted notion is that Millennials are job hoppers who lack loyalty toward their employers. According to CareerBuilder, nearly half of employers who hire new graduates don’t expect them to stay at their company for more than two years. I do not disagree that Millennials will hold several jobs before we figure out our career paths just like any other generation but that does not make us disloyal employees. We are loyal to employers who understand and embrace our new attitudes toward flexibility and a work/life balance as mentioned in the previous blog.
As everyone knows, we are armed with technology and the internet. We research the tiny details about a company, including reviews from former and current employers, before committing to a job. As mentioned before, we no longer look for a job with just a desk, fixed-working hours and a nice paycheck. We need to feel that we can identify with the company. It’s not that money is not important to us but we are more attracted to intangible benefits like a friendly work culture, a lack of micromanagement, a lack of bureaucracy, a cool office space, permission to bring pets to work, or a wellness program. There are numerous low-cost perks a company can offer employees to keep us content, loyal, and motivated.
Millennials are often on the lookout for new opportunities not only because of the economic conditions. We want to continue to move up the ladder, even if that means up and out of our current position. One of the primary reasons Millennials are more likely to change jobs is because they are not willing to stick around if they do not believe they are receiving any personal benefit or growth. If you notice Millennial employees looking for more advanced opportunities then give them more challenging work or encourage them to keep moving. If we feel our bosses are invested in our personal growth then we will be more likely to develop a stronger relationship not just with the company but with the people in it.
Millennial employees expect greater accessibility to the leadership and look for more mentorship rather than just direction. Creating an environment where Millennial employees feel supported and valued by the leadership will also lead to increased productivity and valuable relationships. So, employee and employer relationship must extend beyond just the formal annual work review. According to a recent survey conducted by TriNet, a company dedicated to providing Human Resource solutions, 69% of Millennials see their company’s review process as flawed. A major reason for this is because of the lack of feedback throughout the year. The survey also found that three out four Millennials feel in dark about their performance and nearly 90% would feel more confident if they had ongoing check-ins with their bosses.
Just like everyone else, not all Millennials behavior is in self-interest. Sometimes people stay at a job with lower pay when they could move on and potentially earn more money because they care a lot about relationships and the welfare of others. When we have a relationship with our firm or colleagues, there is a social cost to leaving. So, an employer can play a crucial role in all the reasons why people stay or leave an organization. Loyalty is a considerable component of employee engagement where the employer looks out for employees’ best interests, pays attention to their career path, gives them opportunities to improve their well-being and so forth. As a reminder, no one likes to be labeled or be classified into one category because it suggests that individuals are worth no more than their age and their environment. No one generation is perfect.