Times are changing. In fact, it seems like times are changing faster than ever, aren’t they?
Lately, we’ve talked a lot about millennials and their expectations. They don’t want the same things their parents and grandparents wanted. They aren’t happy with the same lifestyles, the 9-5 grinds, the commutes, the pushy bosses, and soulless jobs.
When they aren’t happy, millennials move. According to Gallup, millennials are the “job-hopping generation.” 21% have changed jobs in the last year, which is three times higher than non-millennials. 60% are open to a new position at any given time.
But why do they abandon ship so quickly? Are they poorly focused or hard to please? No, not at all.
Millennials have options. They are formally educated, which makes it easier to find new employment. They specialize in technical fields that are in demand. Their access to tools and ability to communicate means they can work anywhere – they aren’t limited to jobs in their area.
Most importantly, they’ve been told all their lives to “do what you love” and “follow your passion.” Well, they took that advice!
They want to work in places that align with their values. They want to feel like they are adding something to the world. Their work needs to have value to the lives of real people. They have to be part of a larger agenda that’s more than just “make as much money as possible.”
Young people have no tolerance for toxic work environments. They do not accept hostile, combative or inexperienced leadership. They won’t stick around to improve the situation. They won’t make formal complaints or drop notes in the suggestion box. They’ll just leave.
Times have changed. People want to fall in love with their jobs.
To compensate, there has been a shift in the way companies invest in their teams. Smart businesses are focusing on retention of good talent. They don’t want their employees to eye greener pastures right away.
Now, you aren’t going to keep your millennials forever. The days of working for the same organization for 30 or 40 years are over. As a leader, your job is to keep them as long as you can by giving them a work environment that maximizes their value and gives them reason to stay.
That reason is rarely money. That would be too easy. While people are motivated by compensation to some degree, their personal life satisfaction is more important.
Notice that word: life satisfaction. Work satisfaction isn’t enough. Young people want jobs that fit into their lives. They want their work and personal time to be balanced. They don’t mind working hard, but they insist that work and non-work complement one another.
There’s no doubt that as a leader, this makes your job harder. 30 years ago, all you would have had to worry about was whether the work was being done and at what efficiency. Now you have to make sure your team feels satisfied with their jobs, that their lives are complete and healthy, and that they feel challenged and purposeful.
You have to provide leadership that gives direction, but permits autonomy. You have to help them become engaged without forcing engagement.
We told them to love what they do, and they are certainly holding us to it. If you want to keep your people, you have to create an environment they love.
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