18 May How Millennials Can Benefit from Mentoring
The term “millennials” tends to be thrown around quite a bit in the modern workplace. At Menttium, when we hear the word “millennials” we think of high potential, self-starters who are eager to contribute and make a difference through their organizations. The term itself is only meant to refer to a specific generation, just like Baby Boomers or Generation X. Today’s millennials are between the ages of 22-37, meaning that they’re most likely comprising the bulk of your new hires and quickly entering into managerial/leadership roles as well!
No matter where millennials currently sit in your company’s hierarchy, at the end of the day, the bottom line is that millennials make up a large percentage of the workforce at any place of business. But how can you fully tap into this valuable resources? At Menttium, our Cross Company Corporate Mentoring programs can offer organizations a practical and impactful leadership development intervention to engage and retain millennials. After all, with millennials to become nearly half the workforce by 2020, it’s critical to be intentional in focusing on their potential and capabilities.
The Modern Millennial in the Workplace
Millennials can get a bad rap, so one has to separate fact from fiction when thinking about the millennials in their business. At some point, every generation gets ridiculed for the changes they're bringing to the workplace; it’s just a natural part of evolution. So while you may see articles with headlines like “Millenials Ruining Paper Napkins!” or some such claims, always keep in mind that all the term “millennial” refers to is a generation of young learners. But that’s not to say that there aren’t some differences between the current workforce and the newly minted millennials. Not to mention, this is the first time we have four generations in the workplace. And as such, generational differences have become a hot topic in the Diversity & Inclusion space as organizations look to create inclusive cultures in which each generation can bring their talents and skills to the table.
Research has shown us that millennials can often be the driving force behind change in the workforce. Many millennials were born in a time when almost everything was computerized, meaning that they’ve become accustomed to functioning in a digital and virtual world. Millennials were also raised in a time of digital transparency, meaning that they’ll be seeking to emotionally engage with your company before signing on to a long-term commitment. This need just reinforces our understanding of the fact that employee engagement is critical to drive performance, innovation, and retention.
Hiding behind a wall of "upper management" won't fly with millennials. A recent poll by Gallup has shown us that only one-third of workers, including millennials, considered themselves engaged at work. A large driving force behind this unrest was that many workers were left feeling like they were waiting for their corporations to catch up with them.
In this case, “catching up” referred to millennial waiting for established businesses to reevaluate their age-old practices to better coincide with the needs of today’s workforce. Some concerns that workers felt were not being addressed included the outdated way business was being conducted in the workplace, and how productive staffers were able to be during the workday with current processes.
Where generations past held onto their positions for years at a time and enjoyed stability, millennials will not typically do the same. Two years is an average time for a millennial to stay in a role before seeking employment elsewhere. Millennials seek development opportunities and advancement quickly. So how can your business engage your millennial workforce and strive to better your workplace simultaneously?
How Cross-Company Mentoring Helps Businesses and Millennials
At Menttium, we’re dedicated to helping your key talent unlock their potential; millennials included. In another Gallup study, it was reported that 79% of millennials are looking for a coach or mentor in the workplace, ranking development opportunities more important than cash bonuses. Have you considered how to leverage mentoring to develop, engage, and retain your millennial top talent for the future?
The Benefits of Cross-Company Mentoring For Millennials and Your Business
Focusing on Millennials as participants in our Cross-Company Mentoring program can provide them with the experience to be matched up with a seasoned business professional outside their organization, and perhaps even their industry. The benefits of cross-company mentoring for millennials include:
- Bring the outside in: Provide your top millennial talent an opportunity to gain outside perspective and insights to challenge their thinking and accelerate their growth.
- Create emotional safety: Create an environment of emotional trust and safety for you millennials to talk about their real challenges and opportunities with someone outside the walls of their own organization.
- Pay it Forward: Mentoring always ends up being a reciprocal partnership so mentees also share valuable insights and perspectives with their mentors; millennial mentees can help their seasoned mentors be more effective in managing and leading a millennial workforce.
Our mentors will help the high potential millennials on your team grown, increase engagement, drive retention, and leadership readiness. In fact, according to data from 1,200 recent Menttium mentees through our Return on Mentoring Report, 95% of mentees reported a positive impact on retention and 96% reported readiness for career progression.
Mentoring Millennials in the Workplace
Selecting or developing a mentoring program doesn’t need to be an overwhelming prospect. With the help of our team of experts, we can assist your corporation in better connecting with your key talent through mentoring. With one-on-one mentoring to augment leadership development, we can find the right Cross-Company program to fit your needs.