The “generation gap” is alive and well, with senior managers and top-level executives facing the need to effectively manage an ever-younger workforce. Millennials, the generation that began in the early 1980s, bring a fresh new outlook and youthful energy to the work world.
While many Millennials are hard workers who are driven to succeed, their approach to work and to professional problems differs in some key ways from those of previous generations. Here are three tips for better understanding and managing Millennial workers in the financial workplace.
- 1. Provide regular feedback.
Millennials are used to getting near-constant feedback from their teachers, coaches, and others tasked with guiding their learning and development. As a result, they do better when managers check in with them regularly, instead of waiting for annual performance reviews. Regular contact helps them build a relationship with their managers, which in turn inspires their loyalty, dedication, and perseverance.
Hold regular meetings at which you allow your younger workers to ask their most pressing questions. Involve them in projects and give them meaningful tasks that make them feel like part of the team.
- 2. Think of mentoring as a two-way relationship.
Many financial organizations set up formal or informal “mentoring” programs. Millennials generally understand the value of these programs and work hard to learn what they can from more experienced managers, who know what it takes to succeed in the financial industry. However, managers can benefit from accepting “mentoring” from their younger charges as well. Because they grew up with the technology that continues to saturate financial work, Millennials often have an intuitive understanding of the programs and systems used to analyze data and forecast financial projections – an understanding from which managers can easily benefit in a two-way mentoring relationship.
- 3. Provide a work/life balance.
While older generations are accustomed to the idea that a total dedication to work is what it takes to get ahead, Millennials have largely refused to accept this complete sacrifice. They are willing to work hard, but part of the consideration they expect in return is a work/life balance that allows them to spend time with their friends, check personal text messages or Facebook during work, or to make it to their children’s softball games on weekends. When Millennials get these small breaks, they tend to focus harder at work.
The experienced recruiters at Daley and Associates can help you find the top talent you need to succeed in the 21st century financial field. If you are looking for financial staffing agencies in Boston, contact us today.