Depending on your work position during the recession of 2007 to 2009 as a manager, executive, accountant or otherwise, you got through that difficult economic period in your own way. In response to mounting pressure from stockholders and lagging sales, people in higher level managerial jobs have attempted to cut costs wherever possible. The result of this has been large numbers of employees with feelings of anxiety about their job security. However, now that the economy is on a relative upswing, the time has come for these same high level workers to adapt their management styles for a recovering economy rather than a nosediving one. The focus needs to move away from slicing costs left and right and more toward fostering a sense of loyalty and satisfaction to increase overall productivity. Read on for a few of the most effective ways to accomplish this with employees who are Millennials.
Recognize Their Importance
If you are a manager and a member of the Generation X or Baby Boomer eras, it is time to come to grips with the fact that, even if some Millennial employees have attitudes toward work that differ from your own, they are the generation that is going to eventually take your place. One key pillar to the best management styles for the recovering economy is to show these younger workers the best ways to be productive rather than being dismissive right from the start. Their success is a part of your legacy in the workforce. Make it happen.
Keep Your Ears Open
Few things are more damaging to the success of a business and its employee than a manager that is incapable of basic listening. With the number of job openings on the rise, management styles for the recovering economy cannot work if you have a mindset to ignore your employees’ statements, as they will simply find a job elsewhere. Start by having one-on-one talks with the people under you, and then focus on bringing them together as a team to show you value what they have to say.
Start a Mentoring Program
One problem that many companies face is a rift that forms between the veterans and the new hires, often due to the aforementioned mindsets of both parties. Left unrectified, this rift will only continue to grow, as the veterans who are familiar with aspects of the company’s culture will feel bitter toward their younger coworkers who simply don’t know any better. If you can get your seasoned employees to adopt a more welcoming attitude, this can only do good things for company loyalty.
Don’t Turn a Blind Eye to Strengths
Even though you may find that some of your Millennial employees’ soft skills can use a bit of work, it pays to be receptive to the new perspectives they bring to the company. Those managers who neglect to do this are losing out on an important competitive economic advantage. This is why good listening skills are so crucial. You may pick up on something like a suggestion for a new office layout that ends up dramatically increasing productivity.
Abrasive Personalities Are Disruptive
Regardless of a person’s position in the company, it is a universally acknowledged adage that negativity breeds negativity. If you were the type of manager during the recession that was a bit relentless with your employees, you need to change your management styles for the recovering economy. A more positive attitude tends to work wonders for the attitudes of your workers who would otherwise be going through the motions, again leading to increased productivity.
Millennials Can Be More Likely to Walk Away
Perhaps more so than the people of any generation before them, it is of paramount importance to Millennials that they like what they do for a living. While the economy is moving in a generally positive direction, young people who are just entering the workforce are highly likely to work several part time jobs at once. This means that they are accustomed to the idea of quick career changes. The management styles for the recovering economy that you adopt need to turn the workplace into a place that people want to be, or else risk training a new set of employees much sooner than you’d like.
Have an Open Mind
Ultimately, all of these tips boil down to common themes of tolerance and acceptance. The best management styles for the recovering economy create working atmospheres that feel inclusive and team-oriented rather than cliquey and overly-competitive. If you can make these philosophies a part of your daily managing attitude, the potential for growth is without limit. Who knows? You might even catch yourself with a renewed love for your job in the process.