A global survey conducted by SuccessFactors found that the up-and-coming millennial generation wants more feedback from their managers. Additionally, the survey highlights that millennials rely more on formal training and mentoring to develop their skills. One quote from a millennial surveyed in the study sums up these expectations: “I would like to move ahead in my career. And to do that, it’s very important to be in touch with my manager, constantly getting coaching and feedback from him so that I can be more efficient and proficient.”
1,400 millennials were surveyed to explore how frequently they expected honest feedback on their job performance. According to the findings, millennials want feedback 50% more frequently from their immediate supervisors than other generations.
SuccessFactors’s study also unearths a dangerous leadership gap shaping up within organizations. According to survey results, this is due to a lack of adequate leadership in key roles, and it’s a reason why so many companies fail to retain millennials.
To close this leadership gap and increase millennial retention, many business leaders are re-approaching their management styles. According to SuccessFactors, these are three areas they’re focusing on:
- Providing inspiration (encouragement and support)
- Hiring talented team members
- Being authentic when providing feedback
For insight into these three coaching areas as well as more research on millennial retention, read the full article from SuccessFactors.