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5 Things Millennials Want from Performance Management
5 Things Millennials Want from Performance Management
1. Regular and Effective Communication
Millennials have grown up in an age of real-time feedback. Advice and opinions are solicited and readily given in their private lives, and this is equally expected regarding their professional lives.. Providing open channels for communication both horizontally and vertically results in a more engaged and motivated workforce. Modern performance management software incorporates this need for constant communication by providing a social media-like platform that permits instant feedback between coworkers.
2. Quality Feedback – Not Ratings
Millennials seek regular feedback from their managers. Annual reviews are no longer sufficient. They prefer qualitative feedback, rather than quantitative feedback. Numerical ratings are not appealing to this new dynamic generation. It allows for the exchange of ideas and information, and provides opportunity for reward and recognition. It also gives managers a chance to immediately address behavioral issues.
3. A Boss Who Guides – Not Instructs
Millennials are generally independent in spirit. Studies reflect that 72 percent of Millennials want to work for themselves, indicating that they prioritize autonomy, creativity, and flexibility. They prefer that their boss act as more of a “coach” than a traditional manager. Rather than tracking employee movements every step of the way, employees could be given a certain degree of leeway to accomplish their goals by their own means.
4. Recognition for Efforts / Achievements
Over the years, it has been shown that employees are more motivated by recognition than money. It is human nature to want acknowledgement for our efforts and accomplishments. Millennials are no exception. In fact, they want to be recognized and rewarded at least once per month. Regular catch-ups with employees will also provide more opportunity to discuss recent successes.
5. Opportunities for Advancement
Millennials are determined. They want to know their company will provide them with opportunity. To prevent your employees from growing disillusioned with their job and disengaged with your company, set time aside to discuss their potential within your organization, how they might advance, and likely time frames. Performance management tools can be utilized to create these plans and track employee progress.
