1. Not to generalize, but a large number of Millennials don’t care all that much about making money. Whether they are straight out of college or still trying to figure out what adult-life is all about, they are much more focused on finding a job that gives them a sense of purpose and belonging. They want to feel like they’re a part of something bigger. They’re use to eating ramen noodles and crashing on their friends couches- and a lot of them still have their parents they can call if funds run low. As a CEO, I want people in my business who will be profitable- and millennials simply are not the safest bet. However, the value they add in energy and in their student mentality may prove to be more profitable in the long run if a sense of loyalty is established.
2. They’re used to participation trophies. A lot of millennials will actually get offended when they read that, but it’s the truth. In business, there are no participation trophies. You either show up and get the job done and get paid for it, or you don’t and you get fired. Millennials often struggle at first when they feel like they are putting forth their best effort in one area (ex. They’re the first to the office in the morning) but slacking in another (ex. They underperform) and don’t receive credit or praise for the part they did right.
3. Millennials are needy. They are used to constant recognition on social media and, thanks to the way the education is set up, performing at a mediocre level in school, and are a lot less used to constructive criticism. They require a “build, break, build” format for feedback. Positively reinforce. Suggest desired change. Offer secondary positive reinforcement to rebuild confidence.
4. They are use to a life of instant-gratification. This term is TERMINAL for a business. Millennials want instant results. It’s why so many rely on drugs like Adderall and Vyvanse instead of getting more sleep and eating healthier. However, patience and discipline are certainly virtues that can be taught.
5. They need constant stimulation. Blame it on the fact that they’re used to having 4-5 different social media platforms to entertain them at all times, the majority of which contain a large amount of extremely condensed content- but there is no denying that the attention span of Millennials is significantly less than the generations before. There’s a ton of studies that prove this. It’s not their fault, but it is their reality.
Reasons Why It’s Still Worth It:
1. Millennials keep you in touch with what’s current. What’s trending, what new technology is out, what social media platforms are in- they will give your company a progressive edge.
2. They are investments. Show them growth- personal and professional- and show them that you care, and they’ll respond with loyalty and a “whatever it takes” attitude.
3. They know how to have fun. They add energy and competition to a workplace and will force current employees to step up to their level.
4. They can influence a company to be more democratic (in a good way). Whether it’s from lecture halls to sports teams, they are used to being able exercise their voice and opinions and will likely encourage others to do the same. If a CEO can learn to view these voiced opinions as feedback, they can use them to make their company better, and overall employee satisfaction will rise- with the results naturally following the trend.
5. They force the CEO to step up their game. Coaching millennials is far different than any generation before. They won’t respond nearly as well to black and white instructions or umbrella incentives and consequences. They want a career that will invest in developing them as an individual- based on their learning style, on their values, on their goals, and on their strengths. While this may be an adjustment for the CEO, I don’t know of any company that has gotten worse from upper management being more in touch with the needs and desires on their company.
We Came To Catalyze 