How to attract and retain Gen Yers, according to a millennial workplace expert
The average person spends 90,000 hours at work over their lifetime, so it’s fair to want one’s efforts over that time to feel worthwhile. Gens Yers are concerned with the societal and personal benefits of a job and are looking beyond pay cheques — 52% of millennials globally say that a positive workplace culture is very important when choosing whether to work for an organization.
It also means that they’re more willing to move around — the average length of time a person stays in a job is 4.2 years, but for Gen Y, 91% of them say they’ll be in a job for less than three years. There is an opportunity for businesses to rethink how their HR policies engage employees, through company culture, perks and recognition.
Workplace and Canvas8 sat down with Adam Smiley Poswolsky, a millennial workplace expert, keynote speaker, and author of The Quarter-Life Breakthrough to find out what Gen Yers want from work, and how businesses can evolve to attract and retain this cohort.
1. What do millennials want from the workplace?
Millennials want meaning from their work. They’re not just looking for a job anymore, a pay cheque or a title — they want their work to contribute to society in some way. And while other generations focus on professional development to become better employees, millennials wants to become a better people overall. They want to develop life skills that you obtain in the workplace, such as confidence, critical thinking, innovation, creativity and integrity.
“They’re not just looking for a job anymore, a pay cheque or a title — they want their work to contribute to society in some way.”
2. What workplace cultures make people love their place of work?
The biggest thing is giving young employees a voice. It used to be that you paid your dues and waited your turn before you got leadership. But millennials want to be able to contribute and offer their suggestions immediately, even if they only have two months of work experience. The metaphor of the seat at the table is the biggest piece of creating a culture where young people feel heard and seen. They obviously don’t expect to have the final say, but they feel like their voice matters and that their presence matters.
3. How can companies evolve to attract Gen Y talent?
Millennials have a lily-pad mindset when it comes to their career, where they’re jumping into new opportunities, evolving and growing and trying new things. So, they are going to have to learn many different skills, even have multiple mini-careers within their whole career. The workplaces that are set up to prepare them for this are going to succeed — it’s about creating a culture of learning. I like to say that work has become the new grad school — people want to have training or education through their work.
“Millennials have a lily-pad mindset when it comes to their career, where they’re jumping into new opportunities, evolving and growing and trying new things.”
4. How can companies evolve to retain Gen Y talent?
Autonomy, mastery and purpose — these are the three main things that lead to human motivation (Daniel Pink, Drive). People want autonomy in terms of their role, so the ability to take control, reinvent the job role and take ownership of their development. They want to be given the tools they need to succeed at mastering these skills, and not feel like there are limits to their potential. And they want to feel that they have the power to make a difference and work towards a greater purpose.
“Autonomy, mastery and purpose — these are the three main things that lead to human motivation.”
5. Keeping in mind Gen Yers’ attitudes towards the workplace, what does the future look like?
Traditionally, company culture has not been a number one priority. It’s usually thought of as this sidebar, a nice-to-have if you’ve got extra budget. I think, increasingly, it is becoming the essential investment. I like to say HR is the new life coach. There will be a greater focus on people skills, companies will realize that we’re shifting away from work being only about the business metrics, to being about people and people’s safety, and their hopes, dreams and aspirations.
Never miss an update. Subscribe to the Workplace blog here.
Canvas8 is the leading consumer behavioral insight specialist. Masterfully combining research, trends and strategy, Canvas8 deliver the inside scoop to businesses about what consumers really want.
Sources
[1] The Deloitte Millennial Survey, Deloitte (2018)
[2] Employee Tenure Summary, Bureau of Labor Statistics (2018)
[3] 6 Reasons Why You Should Hire Job Hoppers, Boyden (2017)
