Millennials have long been classified as lazy, entitled, disloyal, self-centered, and a whole slew of other things. What if we told you that isn’t actually the case, and harnessing their positive traits and learning how to lead and nurture millennials could reap big rewards for your restoration company?
According to a 2015 study by FMI, a construction industry consulting company, millennials are indeed loyal to their companies; the kicker is that unlike prior generations, they want more than just a paycheck. So what do millennials want? They want to know they are making an impact and a difference; they want to feel valued in their company and career. So while you may have once been able to lure in good candidates with a solid salary and bonus plan, that is not necessarily the case in 2020, and we are hearing from more and more candidates that they will take less income for a better working environment. That 2015 study found that when a company’s vision is inspiring and clearly communicated, millennials are 25% more likely to stay longer with the company compared to one without a clear vision and direction.
This brings us to our top five tips for attracting the next generation of restoration industry leaders into your company, and #1 shouldn’t be a surprise!
Again, that 2015 survey found a majority of millennials do want to stay at their job long term, as opposed to job-hopping (another negative classification we often hear). Want them to stay put? Here is what they are looking for: advancement opportunity and follow-through when earned, support for education, collaborative culture (they want to be heard – and their opinion to matter, even if not the deciding factor), and good pay and benefits. Sometimes, we find candidates more concerned about health care coverage than the salary.
Yep, this industry is a bit known for being behind the eight ball with technology. The good news is that if you do want to get up to speed, a millennial would love to help. Technology comes naturally to them, so they will be great with mastering platforms like Xactimate, DASH, Encircle, MICA, and others. Be ready for some frustration if you’re still doing things the old school, print-and-file-it way.
It’s time to get out of the “because we’ve always done it that way” rut. Construction and restoration are always changing with new products and equipment, as well as new technology. Millennials welcome the chance to give their input and hopefully have one of their ideas help the company grow.
Millennials welcome feedback, usually good or bad! They want to hear from you. If there is something they are excelling at, let them know and watch them reach the next level! If there is an area where they can improve, offer some constructive advice and a path to help them get better. Because millennials are so big on communication, you can rest assured they’ll be staying in touch with customers and their team members as well.
This goes back to the idea that a paycheck isn’t everything. With a healthy company culture comes a work-life balance. They do understand that restoration is a 24/7 business, but there are ways owners and leaders can find innovative ways to help their team unwind and have some fun. For example, host company outings or allow vacation time to accrue based on an on-call rotation.
The more innovative you are and the more you show them you appreciate their work, the harder your millennial employees will work for you!