Millennials catch a lot of unwarranted flak. (And let’s keep in mind the oldest millennials are in their mid to late 30s, likely married with children.) We’ve already debunked the myth that millennials need constant recognition. In fact, millennials – like all employees – need both positive and constructive feedback to deliver good work and grow their careers. Extensive research shows there is virtually no difference in the generations in who needs to know their efforts are noticed and valued in the workplace.
Another myth worthy of debunking is that millennials are disloyal and quick to move on. This myth depends greatly on perspective and how you view loyalty. This post on Forbes.com explains it well:
“More and more, employees define loyalty as it pertains to the job at hand. They are hired to perform specific tasks and will learn and do them the very best they can. Once they feel they have mastered this role, they will seek out a new opportunity in order to have more responsibility and/or higher wages. The mentality is, ‘You pay me to do X, I do X, and we are even.’ Whether the next step comes from within their current organization or they have to make a move, they have fulfilled their obligation and were loyal in doing so. Hence, whether one works for a company 10 years or 10 months, they consider that ‘loyal.’ The workplace has become transactional for the employee.”
With this perspective on loyalty in the workplace, it’s now incumbent on leaders to create a rewards mix that inspires valued employees to stay. What might that mix of rewards include?
- New and increasing challenges (and commensurate compensation) – Don’t give employees a chance to get bored. Make sure new and interesting projects are on the horizon, and be sure employees know exciting projects tagged to their talents and interests are coming.
- Frequent and timely praise of good work and feedback on developmental opportunities – People need and want to know when they do good work and how they can improve. As humans, we crave both, but we want it in real time when we feel like we can do something about it, to either repeat great work or improve in underperforming areas.
- Recognition of contributions and efforts that reinforce and remind employees of the deeper purpose of their work – A basic human need is knowing we are contributing to achieving a bigger picture. We need to know what we do is meaningful to others. Specific social recognition helps people understand both the deeper meaning of their own work as well as how their colleagues are contributing, too.
All three accomplish an important task – building and strengthening relationships between employees. Loyalty to an organization may now last only as long as a project or a role, but loyalty to others, to people, to friends, is a different matter entirely. When talented employees know their work is valued and appreciated by others, contributes to something important they believe in, and they get to do that work with people they respect and enjoy, loyalty – and tenure – skyrockets.
How are you helping employees choose to remain loyal in your organization?
As Globoforce’s Vice President of Client Strategy and Consulting, Derek Irvine is an internationally minded management professional with over 20 years of experience helping global companies set a higher ambition for global strategic employee recognition, leading workshops, strategy meetings and industry sessions around the world. He is a leader in the WorkHuman movement and the co-author of "The Power of Thanks" and his articles on fostering and managing a culture of appreciation through strategic recognition have been published in Businessweek, Workspan and HR Management. Derek splits his time between Dublin and Boston. Follow Derek on Twitter at @DerekIrvine.
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