Millennials Now Compose the Majority of Workforce and They Value Coaching
Millennials want more feedback from their employers. And they want it monthly, not quarterly or annually. Here are eight tips for coaching millennials in the workplace.
As you’ve been occupied with sales targets, recruiting new staff, and managing turnover, another significant shift has been unfolding. This year, millennials are set to constitute over a third (the majority) of employees in the workforce. In just five years, they will represent 50% of the workforce in New Zealand and Australia.
This generational transition presents a widespread challenge for sales managers across various industries—how to effectively lead, motivate, and coach millennial employees.
Millennial attitudes towards work and life have been moulded by numerous cultural influences. They were the first generation to grow up as digital natives. Their parents often focused on providing personal attention and consistent validation, and their lives were filled with group-oriented activities.
It’s hardly surprising, then, that millennials desire more feedback from their employers. According to a global survey conducted in 2014 by SuccessFactors in collaboration with Oxford Economics, millennials typically seek feedback 50% more frequently than other employees. They expect regular feedback from their managers, preferably monthly, rather than quarterly or annually. Only 46% felt that their managers met their expectations for feedback.
Key Factors to Consider in Coaching Millennials:
- Personal Development Support: The survey indicates that millennials seek feedback to enhance skills that will aid their career progression. They expect managers to assist in developing a personalised career path.
- Real-Time Feedback: With high expectations for both their managers and themselves, millennials need constant feedback; without it, they might assume they are underperforming. Feedback should be both positive and negative and delivered consistently. It can be as simple as a quick compliment, a text, or an email.
- Inspiration: Millennials are significantly more socially conscious than previous generations. They are driven by making societal contributions and seek inspiration, believing in their employer’s commitment to meaningful change. Coaches should motivate through stories that embody vision and mission, rather than just ‘corporate goals’.
- On-the-job Training: As continuous learners who favour action over passive learning, millennials thrive on interactive exercises and role-playing rather than traditional lectures.
- Collaboration: Having spent their youth in team sports, music lessons, and various group activities, millennials are natural collaborators. They believe in the power of teamwork over individual effort. Encourage this by creating opportunities for peer mentoring, group brainstorming, and cross-training.
- Authenticity and Respect: This generation values leaders who are honest and who treat them with respect, reflecting the diverse world in which they have grown up. They expect equality across genders and races within the workplace.
- Measurement: Accustomed to being evaluated against high standards, millennials want clear understanding and communication of how their performance will be assessed and rewarded.
- Fun in the Workplace: For millennials, work should be enjoyable. They thrive in a flexible and relaxed environment that promotes sharing, innovation, and open communication. Organising small celebrations and fostering shared experiences can strengthen teams and keep millennial employees engaged.