Are you one of the business owners that seem to hate millennials? They have such a reputation for being lazy, unmotivated and job hoppers. There isn’t much to love about a generation that feels entitled, that was raised to win a prize just for participating and they seem to have low work ethic. With a young group of professionals bringing down the business world, what is there to embrace about them, especially for a small business that wants to thrive?
It turns out that millennials are actually a misunderstood generation with much more to often than you may have realized. While some companies have actually started to fear millennials because they were born into technology that took you a while to learn, but there is really no need as they had to learn the basics of communication and handshakes from older generations. Here is a look at why millennials matter and you should learn to embrace them.
Why millennials should matter to you
Many people forget that millennials need to be given more credit since they are the ones that will be leading the shared economy being full of young adults and young families. They will be the ones to push the boundaries of digital communications and you may have to work for them someday as they continue to embrace their entrepreneurial spirits.
They are different from generations that have gone before us and they are more numerous than the retiring Baby Boomer generation. They are 25% of the workforce in the nation and make up more than half of the population in India. Keep in mind too that they will be 50% of the workforce around the globe by 2020!
What they truly want
Millennials are not like generations of the past that just wanted a job and a fair wage to provide for their families. Millennials want more money and they want an employer that is going to provide a way for them to make more and more. The other difference with millennials is that they actually want more than money; they want great working conditions.
While competitive wages make an employer more attractive to them, they actually want progression more than anything. While you may have thought they had low ambition and work ethic, it turns out that they want a company they can grow with or they will move on to somewhere else.
They want the job that offers progression, more money, and a great status that they can feel good about in their downtime. They want the title to brag about to people they meet, money in their pockets for their personal life and a family life that’s comfortable.
Believe it or not, millennials are actually the generation that craves feedback the most. They want regular check-ups with their employer to know where they stand, how they can grow and what they are doing right. They want praise for a job well done and if feedback isn’t given frequently, they won’t feel comfortable. If a company wants to embrace a millennial properly, they will provide clear targets and provide structured feedback.
Don’t be afraid to embrace millennials and watch how they push your company’s boundaries regarding technology, work-life balance and through regular communication.