Schawbel: To Retain Millennials Give Them Flexibility, Transparency
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The millennial generation, or Gen Y, has been called "the generation that's fun hate," but studies have shown they're optimistic, highly-educated, and career-oriented. Regardless of characteristics, millennials are the largest generation in US history and are the leaders of tomorrow. Organizations realize this, but traditional workplaces need to evolve to recruit and retain the digital native generation.
Often when people look for insight on Millennials in the workforce, they look to Dan Schawbel. The New York Times bestseller and founder of Millennial Branding recently shared his best tips on recruiting and retaining millennials while appearing on MSNBC's "Your Business."
What do millennials want? Here are the themes from his tips:
Schawbel: "Everyone from 16 years old to 65 years old wants more money, of course. [For millennials] it's more about therapy because we have so much information at our fingertips. They can pull out [their] phone and go to Payscale.com or Salary.com and figure out how much [they're] suppose to be making. They are also more likely to have transparent discussions with their peers about how much they're making."
Schawbel: "There's no 9 to 5 workplace anymore. Millennials want maternity leave, they want flexible hour [and] they want flexible job sharing."
Development and Training
Schawbel: "If you're not going to invest in their learning and development, they're not going to invest time spent working at your company. [Millennials] need to be challenged and they need to constantly learn. If not, they're going to be bored and start looking for other opportunities, which are right at their fingertips."
Purpose / Impact
Schawbel: "People think [millennials] want to change the world on the job and that's not true. It's about linking the work they're doing on a daily basis to something that is beneficial to their managers, team, and CEO to customers, partners, and then maybe even the world. If they can't see that linkage they're not as engaged and they're more likely to quit."
Watch Schawbel's full MSNBC appearance below.