By the year 20-25 … it’s estimated at least 44% of the workforce will be Millenials, according to Cortex Leadership Consulting.
In this week’s Virginia at Work segment, we take a look at this latest generation to enter the workforce and advice on how to make them an effective part of your team.
The first piece of advice on Millenials from Lynda McNutt Foster, the CEO of Cortex Leadership Consulting is simple.
“Start by not calling a millenial, a millenial. They’re young professionals. They are emerging leaders. These are people that are coming to the workplace with more debt than any other generation has ever had at their ages. They know they need to work hard. Part of the reason why they want promotions and to make a lot of money, they have five and six and $700 a month debt from college they have to pay off. So they’re not dumb. They can do the math. And they go, I need to make a certain amount of money, in order to be successful and pay my bills.
Fosters advices there are five ways to motivate Millenials:
- Take an interest in their professional development
- Nothing “goes without saying”
- Understand their need for information and feedback
- Be transparent in your culture and expectations
- Understand the new financial burdens they face.
She adds, “Tell them when they’re on course, and when they’re off course. They want to have that interpersonal relationship whenever they possibly can. They’re highly motivated by work environments that are connected to a community and a cause greater than themselves.”
When you feel a divide between the newer workforce and the generations that have come before them, Foster has a reminder.
“The thing that is most hilarious to me, in corporate America right now, you have Gen-Xers like me, complaining about Millenials, when they’re our children. We raised them.”
Lynda will join our Good Day Virgnia team tomorrow morning at 7:30 a.m. She will discuss the research on Millenials and also talk about ways to reduce s tress at work this week.