Millennials are changing the demographics of business. It is estimated that, by 2020, millennials will make up more than half of the global workforce. As these workers enter your workplace, they are bringing with them some pretty radical and innovative ideas. More than previous generations, millennials crave continuous feedback. They demand and expect a responsive managerial style and ongoing relationships with their supervisors
If you’re looking to motivate your millennial staff, drive down costly turnover, and cultivate a more productive and profitable workforce, you need to invest in continuous feedback. The good news is that giving feedback can only take one minute. Literally.
Let’s look at 3 reasons why continuous feedback is a key aspect of engaging millennial employees:
Continuous feedback mirrors their daily realities
Millennials have grown up in the digital age. Since day one, their lives have been informed by the culture of speed and immediacy made possible by the internet. Communication has never been so immediate, with instantaneous feedback on social media posts and endless returns to — if not a borderline reliance on — Google.
The internet has created a culture of ongoing communication and intense connectedness, so it’s no surprise that millennials expect the same standards in the rest of their lives — including at work.
In fact, many companies are doing away with the process of the “annual review” because it is no longer helpful to a generation who doesn’t want all that guidance saved up for a once-a-year meeting. In fact, almost half of millennials would prefer weekly conversations with their managers.
Continuous feedback addresses uncertainty
When a millennial employee asks for feedback, it comes from a desire to excel in their job.
Millennials aren’t saying, “Tell me how good I am.” They are asking, “What can I do better?
Continuous feedback is a much-needed security blanket for uncertain staff. Real-time, ongoing feedback keeps your employees in the loop. When they know where they stand and how they’re performing, they’re better equipped to progress and develop.
Continuous feedback helps to track personal development
What do millennial employees want from their workplace? Casual Friday? Free lunch?
You may be surprised to hear that the benefits most valued by millennial employees are training and development. Millennials are ambitious. They are looking for learning experiences. They want to be pushed and challenged by their employers.
Alongside more formal training programs, continuous feedback is a form of training in itself. Regular check-ins and one-on-ones help employees establish pragmatic next steps and set clear objectives, which keep them feeling challenged and inspired
PWC said it best:
“The companies that are most successful at managing Millennial employees are those that understand the importance of setting clear targets and providing regular and structured feedback.”
Will you be one of them?