Generation Y often has a reputation for being self-entitled, but millennial workers have a number of key traits and tendencies that provide a large return on investment for hiring companies. Millennials are anticipated to make up around 50 percent of the workforce by 2020, according to Sales & Marketing Management. Learn the benefits of hiring millennials and how to get the best ROI from young, proactive workers.
Money is a smaller motivator for millennial workers than it is for other generations, making them cost-effective hires. According to a 2009 survey by Monster.com, only 17 percent of employer respondents listed money as millennials' primary driving factor. Generation Y workers are more likely to look for flexibility and life balance. A large portion of recent graduates still live with parents, so their financial needs are considerably lower than the financially independent adults of older generations.
As the majority of millennial workers grew up using computers, they are tech savvy and have functional knowledge of basic computer programs and social media. They tend to stay up to date on the latest technologies, and they quickly pick up on new tools and programs. This helps millennials stay current and keep their respective companies updated on Internet and market trends for a stronger impact on potential customers.
Although millennial workers have a strong sense of self, they are also effective team players with an ongoing need for peer-to-peer relationships and a sense of community. This characteristic leads to enhanced cooperation in the workplace for greater productivity, and it extends to members of other generations within the department.
For maximum ROI, give millennial workers a chance to express their most productive attributes by creating an ideal work environment. Members of this generation value flexibility, so allow them to take creative approaches when getting tasks done and solving problems. At the same time, give workers access to sales metrics and other back-end processes while keeping them engaged by encouraging collaborative relationships between the work team and upper management.
Millennial workers seek purpose and fulfillment in their work. Approximately 78 percent of these workers consider how innovative a company is when making a job decision, according to Deloitte’s third annual Millennial Survey. Try to create a work environment that regularly encourages and implements new ideas. Provide recognition to help workers feel fulfilled on a day-to-day basis. Workers of this generation want a work environment that becomes part of their lifestyle, so consider offering office perks, such as ping-pong tables or free snacks.
After hiring millennials, make a solid effort to recognize great sales performance. Similar to previous generations, members of Generation Y appreciate feedback and want to know that their work is valued. If you create an environment that makes millennial workers want to stay, you're sure to be repaid in top-quality work and creative new ideas.
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