Posts Tagged ‘Unlocking Generational Codes’

A Guide to Expectations of Millennials

Thursday, May 15th, 2014
Anna Liotta

Anna Liotta

According to an article by an expert on generational challenges in the workplace, Millennials (those born between 1980 and 1999) have such different expectations from their managers, that many managers are at a loss as to how to handle the younger generation. My colleague and friend Anna Liotta, author of Unlocking Generational CODES, says the Millennial generation is “the first generation to have no expectation of retiring from the company they are working for today. In fact, 91% of Millennials expect to stay at a job or position for fewer than three years.” What’s even more surprising to many managers is that a Millennial considers less than three years to be a long time!

With turnover costs equaling more than six months of a person’s salary, as estimated by The Society of Human Resources (SHRM), shorter-than-expected stays can be very costly for employers. Why are Millennials so eager to move on? Their motivations are based on a different set of expectations than previous generations have had. Chief among Millennials’ expectations are these:

* high pay (74%)
* flexible work hours (61%)
* a promotion within a year (56%)
* more vacation or personal time (50%)

Liotta’s research has found that Millennials “typically decide in their first 30 days if they will remain with a company for 6, 12, or 18 months. It’s up to their leaders to discover how to communicate effectively to keep them engaged in the work and committed to the organization. That, int urn, will enable the employer to realize a more satisfying return on its talent investment. Liotta offers guidance on how to do that through books and articles available on her website as well as through speaking engagements and trainings. Access those resources and learn how to contact her by visiting her website.