21 - Give Millennials More than Annual Performance Reviews
Tease: Millennials want to know how they’re doing at work—more often than an annual review. Today on The Perna Syndicate, let’s look at what they want and how to deliver it.
Ep 21 show:
Hello, and welcome to The Perna Syndicate – I’m Mark Perna! Did you know that by 2025, Millennials will make up 75% of the American workforce? Having grown up in the digital age, they’re used to instant access to information on any subject. But Google can’t tell them how they’re doing at work, and 74% of Millennials feel “in the dark” about their performance, according to a recent survey by TriNet.
Millennial workers want more than a single, intensive annual review. More frequent feedback can go a long way to engage younger workers and retain them in a competitive labor market.
It can also enhance their performance. The CEO of Clear Review, Stuart Hearn, says, “Millennials aren’t saying, ‘Tell me how good I am.’ They are asking, ‘What can I do better?’”
Frequent feedback should be casual, ongoing conversations. Nearly one-third of the Millennials surveyed said they dislike when reviews are one-sided, without the chance to comment on their own performance – so ask relevant questions, and then sit back and really listen to the answers.
Additionally, 57% of Millennials walk out of their reviews feeling “like they can’t do anything right.” So, put negative feedback into perspective and be as positive as possible.
Annual reviews have their time and place. But especially with Millennials, more frequent check-ins can nip potential problems in the bud, and keep them engaged and productive in their everyday work.
There’s more to the Syndicate at MarkCPerna.com. Check in for fresh content posted weekly.