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LEADERSHIP
Successful
leaders
will be
those who
evaluate task
completion
rather than
the individual.
Employee surveys by both Harvard Business Review and
PricewaterhouseCoopers have found that Millennial employees
want a constant stream of review and recognition.
“I was brought up in an environment of
‘no news is good news,’” Erickson points out
about the generational difference. “Feedback
meant I was going to be judged in some
way, usually negatively.” But for Millennials,
“feedback is getting a tip. It’s coaching, and
they want it multiple times a day.”
That’s right—annual reviews, long a
staple of corporate culture, don’t cut it anymore.
Gen Yers want to know how they’re
doing much more often—and the best
leaders are finding ways to give it to them,
through social media updates, peer evaluations
or extensive mentorship programs.
“The biggest complaint from Millennials
about managers that I hear is, ‘My
boss cancels my one-on-ones all the time,’”
Orrell says. “They conclude, ‘Oh well,
he doesn’t value my time.’ And the No. 1
reason Millennials leave companies is that they don’t feel
valued or respected.”
Retention of Millennial employees has indeed proved
problematic for companies whose older managers have
failed to evolve beyond traditional corporate leadership
strategies. Orrell and her firm spend most of their time
counseling executives on how to help such managers
work with their Millennial charges. “They tell me,
‘There tends to be dissension and frustration on the
part of our managers. How can we reduce the amount
of friction in the workplace? How can we get everyone
on the same page?’”
Orrell is blunt. “People don’t leave companies; they
leave managers,” she says. “They’re not mad at the
building. They’re mad at who they work with on a dayto-day
basis. We may have tolerated it for five to 10
years. [Millennials] will tolerate it for five to 10 months.
“Most people think the problem would be a 52-yearold
who can’t relate to a 24-year-old employee, but
that’s not typical,” she adds. “The biggest friction is with
the 35-year-old Gen X middle manager who resents the
whiney Millennial who needs hand-holding.”
This is leading to significant changes at many
companies, where savvy leaders are shaking up the
long-stagnant management level. “Smart companies
are getting really serious about this, stepping up their
game with management, finally willing to go through
the hassle of firing mediocre managers,” Orrell says.
“Because if someone doesn’t like their boss, they’re
gonna leave. The other stuff doesn’t matter.”
ROB REUTEMAN IS A DENVER-BASED JOURNALIST
WHO TEACHES BUSINESS REPORTING AT
COLORADO STATE UNIVERSITY. @ROBREUTEMAN
PHOTO © GETTY IMAGES/THOMAS BARWICK
48 ENTREPRENEUR MARCH 2015