Given that the millennial generation will make up 75% of the working population by 2025, the key to motivating your workforce will be motivating the millennials effectively. While money was the key motivator for workforces of the past, today’s employees may find a shorter working day or an experience more rewarding.
Training matters more than a promotion
Promotions will always be important to recognise commitment to your company, but millennials are less driven by the prospect of promotion. They’re conscientious and focused on developing their own career path, so it is the training and mentoring that means the most to the millennial generation.
Taking the time to sit down with your employees to determine exactly what area they want to specialise in or where they feel they could enhance their skills should be top priority. By figuring out how to tailor their training, you’ll keep your millennial workforce engaged in their own personal development which will result in a much stronger sales team.
Make their voice count
They may be younger than your more established employees but millennials run on responsibility. They have the technical insight from growing up surrounded by the latest gadgets, which means when you’re focusing on social selling or advertising, they’re the people to ask.
When a sales quota hasn’t been met or you’re looking to branch into a different market, these employees appreciate being asked for their advice and will work harder to support you with this new venture when they’re also a part of it. Millennials are keen to work in an environment that aligns with their own values, so make sure you show how their sales contribute to your business’ overall success.
Rewarding their success
People are motivated by money. While this statement is true to some extent, millennials are less likely to spend their commission on mortgages or cars and instead pay for a luxury holiday or go travelling. With this in mind, financial incentives may not be the most effective at motivating the younger generation of your sales team. In the place of financial bonuses, your sales team may be more responsive to a trip away.
Millennials can often feel more motivated by instant rewards such as restaurant vouchers and drinks after work where recognition is immediate. A point system or quick target based sales competition can be a great way to motivate these employees.
While all these factors can be effective at motivating your millennial team, asking for feedback and suggestions on what most motivates your employees is the only guaranteed way to secure a productive, incentivised workforce.
To find out more about motivating your workforce take a look at our study on incentives.