Every year, the millennial generation makes up an increasingly larger portion of the global workforce. Born between the early 1980s and 1990s, these individuals are expected to comprise up to 75 percent of workers by 2025. Millennials are characterized by having a unique set of employer expectations that differs greatly from the baby boomer and Gen X generations. Understanding the value of this current and future segment of your staff - and how to keep them happy and engaged - is vitally important. Labor management software (LMS) has a proven toolset that helps facility managers create a workplace environment in which millennials thrive.
A recent Forbes article explored four things you should know about millennials to create an attractive workplace in their eyes:
- They want to grow, even if that means growing out of your company.
- They want a coach, not a boss.
- They don't want to waste time on the little things.
- They want balance and democracy.
Let's look at each attribute and how LMS can address it.
1. Provide growth opportunities.
The average tenure of millennial employees is two years, compared with five years for Gen X and seven for baby boomers. Millennials have demonstrated that they will change jobs quickly if they feel they are not receiving any personal benefit or growth. How can employers keep up? By not slowing them down. By providing the recognition and advancement opportunities that you can validate through labor metrics. LMS provides a way to fairly rank and track top performers to provide advancement opportunities to those employees who have earned it.
2. More coaching, less bossing.
Millennials need an environment where they feel supported and valued. Through the ongoing performance and coaching interactions that LMS automates, millennials will receive the continuous feedback they desire through a less formal process than an annual or quarterly review. The more frequent feedback drives their confidence and engagement without alienating them to the process.
3. Help them understand their contribution.
LMS allows employers to directly link the role of an individual's performance to the overall business goals of the company. This helps millennials connect their contributions to the larger success of the company, ensuring that they understand the importance and priorities of the work they perform. LMS also automates several items such as: report generation, time tracking and the performance feedback process.
4. Give credit where credit is due.
LMS ensures that work credit is assessed accurately, commensurate with the quality of the work performed. By fairly rating the work against a standard - and not other workers - an LMS greatly reduces the potential for nepotism and other unfair practices that can arise. As a result, low-performing workers can be identified quickly for training or re-assignment while top performers get the recognition and advancement opportunities they deserve.
To learn more about how an LMS can help you create a workplace that's conducive to millennial values, please visit the GoalPost® LMS section of our website.