Show Millennials You CARE
Employee development is becoming a significant part of the employee value proposition at many companies; Fortune 1000 companies are investing in their talent more than ever. Gone are the days when managers selected development opportunities for their employees who were happy just to be ‘nominated!’ During data gathering conducted by the Ermi Group, some high potential Millennials have shared the following insights regarding what they expect from their companies, managers and themselves regarding employee development.
“I think this generation lacks the patience of previous generations in that we are looking to learn as much as possible, move up as quickly as possible and earn as much pay as possible in the shortest amount of time possible. We are not afraid to move on if we feel our needs are not adequately being met. We require readily available, company-paid training and educational opportunities to keep our skills sharp and a well-defined career trajectory is key so that whether we choose a management track or a technical track, the next steps are clear. We require managers who show a vested interest in our development and who are willing to give us credit for a job well done. This generation offers great education/skills and holds the company accountable for providing quality recognition of these efforts, a competitive salary and opportunities to grow.“
These may sound like reasonable expectations, though not all companies are financially able to invest in a development strategy. This particularly pertains to smaller, entrepreneurial professional service firms who must maintain billable hours and may not have built development time into the budget. However, there are excellent low cost professional development alternatives, including providing challenging work, knowledge sharing, and mentor programs.
Concentrating on the following CARE framework is a helpful start in creating a learning environment in any size of organization, especially with Millennial employees:
C – Connection and Commitment – Ensure that employees know how they fit into the organization’s mission and how they can contribute. “I wish my manager would just talk to me about what is possible. That connection is really important to me, I want more than coming in and doing my job description and I am not sure this company can give it to me.”
A – Aspiration and Accountability - Clarify employee development interests and career goals. Include both employees and managers in the developmental equation. “I think a manager’s role is to create the opportunities for growth and learning, break down barriers when necessary, and provide honest feedback on progress.”
R – Resources – Create awareness of opportunities both within and outside the organization. Employees can “own” their development plan, but need to know what is available. “…ensure I'm aware of resources and opportunities available.”
E – Experience – Ensure that on-the-job learning opportunities are available and utilize in-house mentors. The Center for Creative Leadership research shows that most skills and competency development occurs through on-the-job activities versus traditional classroom training (70% on the job, 20% from working with other people for support, and 10% from readings and coursework).
Why do high potential employees stay at their small companies? One of the Millennials interviewed explained it this way, “I create my own course of growth here and leverage my manager and the resources of the company to achieve that. It is very personal and ever changing based on where I am at that particular time. It's more than promotions, but gaining a variety of skills, having stretch assignments, rotating through a number of roles and positions, etc.”
The bottom line: Millennials do not conform to some of the old philosophies and expect a partnership with employers and experiential development. Some companies may not be able to afford certain development initiatives, but the CARE framework provides a good start in creating an interactive, meaningful learning environment. If you want to remain competitive in attracting and retaining your future workforce, be prepared to develop your employees’ full potential.
Author: Lori E. Ermi, SPHR, ACC Founder and Managing Director of The Ermi Group
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Conforming to the status quo, relying on seniority and staying under the radar will not work to promote a productive workforce in the new millennium. Nearly ten million Baby Boomers will reach normal retirement age by 2014 and the new Millennials (Generation Y: born after 1980) that will dominate the workforce do not prescribe to that philosophy.| Issue 8 | August 2008 |
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