Business owners are always looking for opportunities to expand resources and increase revenue. One of the ways to do this is to hire Millennials as entry-level employees, give them experience, and train them to maximize your bottom line.
But as promising as this young talent may be, there are generational nuances, including high turnover and work-life balance, that business owners struggle with compared to their Baby Boomer and Gen X colleagues. According to Pew Research, Millennials make up the largest share of the workforce – surpassing Baby Boomers and Gen Xers.
When working with Millennials in the technology, construction, and professional service industry sectors, try to follow these four tips:
Tip #1: Change Your Interview Process
If you want the exceptional Millennial, create a unique recruitment process that includes more than a review of resumes. As an MBE you want to know if they are a team player, how they think, and what immediate contributions they can make. The traditional interview process is outdated. Conduct group interviews to better assess personalities and team dynamics. Consider having candidates break into groups to create a new idea, develop a rollout plan, and pitch the idea to your internal team. Be sure to pay attention to the way candidates approach the task and work together—it is telling!
Tip #2: Curtail Turnover
When working with Millennials, separate Millennials into two groups: Junior Millennials (18-27) and Senior Millennials (28-32). As you can imagine, each group brings various skills, apprehensions, and interests. Typically, Junior Millennials are helpful with researching new technologies. Look for ways to include them in a technology update like transitioning old operations tools to something more efficient, or give them an opportunity to train the team. Senior Millennials, on the other hand, have the experience and expertise that enable them to serve as a strong number two for a senior manager.
Tip #3: Outline a Growth Path
Millennials are goal-oriented. Create a growth path for Millennials that identifies opportunities within your organization and explains the soft and hard skills that must be acquired in order to receive promotions. Goals should be three-dimensional and include: 1) revenue goals for the organization; 2) revenue goals for the manager; and 3) tasks that support revenue goals for your Millennial employees. Also, consider creating an industry path with milestones on how to be successful in their field. This helps to put goals into perspective and showcases the professional development your company can provide.
Tip #4: Host Lunch-and-Learns
When hiring Junior Millennials, you become their mentor, boss, and trainer. This can be overwhelming as an MBE owner. The goal is to not let the weight of ownership burn you out. Be proactive and manage your time by hosting reoccurring Lunch-and-Learn sessions as a way to train, inspire, and connect with your Millennial staff.
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Posted at 4:19 AM
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