Millennials are expected to make up two thirds of the global workforce by 2020. Several studies have shown this generation is deeply ambitious, craves meaning and purpose, and values autonomy and learning even more than a paycheck. While leaders are deploying several strategies including mentoring, the most urgent need is for them to become coaches, which will enable them to:
1. Give them meaning:
Millennials value purpose and meaning. When they see themselves as an instrument in achieving something bigger and see the ‘Why’ of their role, they are more likely to come up with creative ideas to business problems.
2. Give ownership:
This is a generation that is not satisfied with years of mundane tasks, just waiting to climb the corporate ladder. It wants to lead from the get go and will thrive upon being given ownership opportunities.
3. Have productive coaching conversations:
Regular feedback and constant communication is key to keep the motivation levels high for millennials. Many organisations are already shunning the outdated “annual performance review” in favour of continuous engagement and dialogue, which leads to increased resourcefulness and motivation for employees.
4. Be an inspiration:
Yes, this generation instinctively detests hierarchical organisational structures. But studies show they value leaders who can inspire them and would happily take on stretched targets if they are challenged effectively.
5. Instill a culture of self-directed employees:
Millennials crave autonomy and can sometimes do their best work when they are encouraged to work independently in challenging roles.