Millennials represent roughly one third of the American workforce, and that statistic will only continue increase. Millennials’ career needs and goals should be part of the employers’ responsibilities.
According to recent studies, Millennials crave employer-provided training and development opportunities. It’s not certain that this is a new condition. But given today’s technology, it is more important than ever before. At one time, employees in this age bracket were motivated almost exclusively by some type of reward (usually money and titles) that they received in order to remain with their present employer. That no longer is exclusively true.
Providing Talent Development
Millennials may want learning opportunities at work, but most employers are not providing enough. When asked, a minor percentage of Millennials strongly agreed that they learned new information in the past 30 days that they could utilize to perform their jobs better.
If employers are going to attract and retain top talent with present day goals and objects, management must focus on and deliver sufficient amounts of employee training and development.
The following are some tips which will help you and your millennial workers meet a more sufficient level of talent development goals:
Studies have shown that one of the top three fears for millennial workers is not having enough development opportunities. Additionally, studies revealed that 58 percent of Millennials expect their management to provide them with learning opportunities that are relevant to their positions.
A performance management system allows employees to participate in company wide development programs and keep track of the skills they are learning on the job. Using the performance management system, they can see what skills they still need to achieve their objectives.
Another top millennial fear is not realizing their career goals. About one third of Millennials will leave a job if their goals are not in line with their employers.
A performance management system allows employees to set goals and figure out what they need to do to achieve them using benchmarks. It lets them discuss team and individual goals with their managers and work together on making sure they are met.
Mentorship and Feedback
Millennials need and want guidance in the workplace. One study claimed that 67 percent more Millennials than Baby Boomers say that having a great mentor at work is crucial. This gives employees the opportunity to be in constant communication with their managers. Having this available to them, they are able to ask their managers questions and learn from them. They can gain feedback instantly and determent whether they are on track or not to achieve personal and company wide objectives.
Feedback, mentorship, goal setting and development opportunities all contribute to employee engagement. At a time when 44 percent of Millennials are going to leave their jobs in the next two years, it is critical that engagement is given significant attention. It will increase productivity, appeal to the top millennial talent on the market and help retain all other top performing employees, who are always costly to replace.