If the relationship between an employer and Millennial employee is strained, it could be more than just a difference between generations. It likely has something to do with trust. And, it’s the Millennials who mistrust their elders.
New research from Badenoch & Clark, a recruiting company in the United Kingdom revealed that nearly one-third (32 percent) of Millennial employees do not trust senior management. This number is nearly double what it was last year, when 18 percent of 16-to 24-year-olds said they didn’t trust their employer to deliver accurate information on business performance.
The 1,000 study participants may reside in the United Kingdom, but I imagine the number would be somewhat similar in the United States. There are a number of likely causes for a general feeling of business mistrust among Millennials--such as high-profile and heavily press-covered scandals surrounding the likes of Enron and Bernie Madoff--but watching their parents get laid off and lose retirement funds probably has a lot to do with it. In simple terms, in Millennial eyes, their parent’s employers didn’t hold up their end of the bargain.
It’s widely known that Millennials are drawn to entrepreneurship. It’s not a stretch to conclude that tendency stems from a more basic sense of trust in that kind of business.
Yet, this doesn’t mean hope is lost for big businesses to gain Millennial trust. Giants like Google and Apple manage to do just that, but interestingly enough, that coincides rather neatly with brand trust (Millennials love Google and Apple brands).
For businesses big or small, fostering trust in Millennial employees is critical. A lack of trust gives a Millennial employee, one who frequently is considered a flight risk to begin with, one more reason to not stay with a company--after the company made an investment to hire and train them.
Open up the lines of communication. A typical Millennial mantra reminds employers, “we want to work with you, not for you.” Listen to it. Millennials don’t like to be “sold,” by a brand or an employer. Give it to them straight and they just might surprise you with their loyalty instead.
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