Millennials are becoming a large group of workers. They are growing larger than the number of baby boomers (now becoming seniors!).
According to U.S. Census Bureau, millennials are expected to overtake Baby Boomers in population population numbers in 2019 (forecast number: 73 million).
Despite what some say about millennials, I have found them to be hard working passionate employees.
They are just different than the baby boomer generation.
Their employment concerns are not just limited to money.
There are many different factors that contribute to a millennials work success and I will discuss it in a future blog post.
However, one of the most critical issues for millennials is the performance review.
Performance Reviews
Remember that millennials have been raised with constant feedback on their performance.
Yes, this resulted in plastic participation trophies even though they may have been spent entire games on the bench.
Millennials have no interest in waiting a year to find out how they did on their job.
They need periodic feedback on their work.
Periodic does not mean a year between reviews!
Millennials want to have regular feedback so they can make sure they are progressing in the right direction.
Ideally, they should be getting informal reviews on a constant basis, at the very least it should be every month.
Formal reviews should be once a quarter.
This means a major overhaul of HR policies and much, much more work for the manager.
Failure to make this change and you will have employees who are hopping to other jobs.
Making these changes will be hard but you will be rewarded with longer-term employees who will do great work!