While employers recognize the value that Millennials (born between 1980 and 2000) bring to the workplace, not all have been able to master the art of attracting and retaining this generation of employees.
So, what do Millennials really want from their employers? Here are four qualities that Millennials are looking for in a job:
1. A healthy work/life balance.
Research shows that Millennials place more value on happiness than money. They want a career that offers a healthy work/life balance. Employers that move away from the traditional “clocking in” mentality and instead focus on the final product that is produced will appeal to this generation.
Millennials want the freedom to be able to complete projects in the style and location in which they feel most productive in. They want the flexibility to work from home on occasion. And, when in the office, they prefer a workspace that is open and social to inspire creativity.
2. A workplace culture that thrives on personal and professional development.
While Millennials want a healthy work/life balance, a recent PwC report revealed that the most important thing that this generation is looking for from an employer is the opportunity for personal and professional development.
This generation places a lot of emphasis on training and development as they want to receive more challenging work and advance quickly. When this need is not met, Millennials are not likely to stick around. According to the BLS, the average tenure of a Millennial employee is two years, which is considerably lower than older generations.
3. Managers that serve as coaches and mentors.
Although Millennials don’t want to be micromanaged, they also don’t want to be left to fend for themselves. They want a manager that also serves as a coach and mentor. Millennials crave feedback and want to be acknowledged for a job well done. Companies that focus on building a corporate culture that provides employees with regular feedback and acknowledgement of individual contributions will do well with attracting and retaining Millennials.
4. Offers rapid advancement.
When Millennial employees accomplish a challenge, they want to be promoted (or at least receive recognition). If their hard work is not translating to new opportunities within the company, they will look to move elsewhere.
If your goal is to attract and retain Millennial talent, be sure to take these four pieces of criteria into account to appeal to this generation.
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