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Managing Millennials through a Recession

No matter what the White House does or does not say about the country’s current economic status, most business leaders seem pretty certain that we are in the midst of a major recession. This downturn will be a significant event for young members of the workforce—the Millennials—who represent a generation that has grown up in a world of nearly constant economic growth.

Many Millennials do require specific coaching in regards to the behaviors they should exhibit at work. One client recently reported that, in early October, the firm’s management committee decided to gather their newest associates, sit them down, and explain the firm’s financials. Management assured the associates that no one needed to worry about the possibility of being laid off. According to my contact, the reaction of the associates was to look at each other, shrug their shoulders, and collectively say, “Great! We’re glad to hear it.” And then they added, “Since there’s not much work to go around, we’re heading out to yoga class.”

If you are managing junior member of the workforce, it may be a good time to provide them with some tips to help “recession proof” their careers. Here are a few ideas:

Arrive at work on time, if not early, and stay late. Explain to your Millennial employees that, more than ever, now is the time for them to show that they are eager and excited to be at work. Recommend that they focus on finishing assignments quickly and superlatively. No one can now use the terms “need for speed” or “intense workload” as excuses for mistakes. Suggest that Millennials actively seek out the opportunity to assist other practice groups or departments. Tell them that they should use the upcoming weeks to demonstrate that they are the one employee every manager in the organization would hate to lose.

Dress more conservatively than usual. Just 18 months ago, I consistently heard complaints from managers about Millennial males who showed up for work dressed “like a bicycle messenger.” Simultaneously, female Millennials “dressed for a night at the club rather than a day at work,” as described by one recruiting director. In economic downturns, internal and external clients look for people who clearly are serious about their careers. Remind your Millennial employees that now is the time to dress in a manner that suggests they are focused on succeeding in the business world. They should dress in more conservative business attire.

Take advantage of training opportunities. Last year, in lots of organizations, the intensity of their workloads kept many Millennial employees from attending training programs. However, in the training programs that I have most recently facilitated, attendance has been two- and three-times at expected levels. If you are responsible for your organization’s training budget, you will get the most “bang for your buck” by offering training programs right now. Not only are more employees likely to attend, but, when they do, they’ll acquire new knowledge and skills that will really payoff once the economy begins to rebound.

Begin building a professional network. Your newest employees should be made aware that they have a stake in the long-term growth of your organization. While no one expects junior employees to land huge, new clients, they should be expected to start building their networks. Encourage them to begin incorporating the contacts that they made while they were in school as well as those within their industries. This is a great time for Millennials to learn that building a network does not need to be an expensive practice. Urge them to reach out to their contacts over coffee or lunch.

Be grateful. Your Millennial employees should be reminded that economic downturns are hard on everyone, including organizational leaders. I’ve never met a member of management who acquired some perverse pleasure by laying people off. It might not hurt to remind Millennial employees to express their genuine appreciation for the fact that they continue to have a job.

Don’t worry. Your Millennial employees have grown up in a world of nearly non-stop economic growth. The economic messages they have consistently received have been rosy. Remember, during the 2001 downturn, rather than worry, we were all instructed to go shopping and travel. Your Millennial employees should be reminded that our nation has encountered recessions in the past, just as we will surely experience them again in the future. The most important activities any employee can engage in to help recession-proof his or her career is to get competent quickly, and then service internal and external clients like crazy.

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If you currently work in the career services department of any major university, you are now faced with some special challenges. For the first time in recent memory, many of your students are worried about landing a job. If you are still encountering students who are dreaming of a huge salary and a signing bonus, you may very well need to adopt the role of Scrooge and tell them, “Forget it. Those days are over.” Don’t hesitate to explain to these same students, however, that they have the opportunity to position themselves well for today’s market.

This year’s class of graduating students will bring the following attributes to the workplace:

They are cheap. In most cases, it’s a lot less expensive to employ a new grad than a middle-aged manager. Most new graduates’ salaries are significantly lower, and as a group, they require fewer benefits. The big difference, however, is knowledge and competence. So that’s the message career services departments should emphasize with graduating students: Once you receive a job offer, get competent FAST!

They are comfortable with technology and diversity. Today’s successful employers know they need employees who are comfortable with all types of technology. Simultaneously, new employees must also be comfortable working with the many different cultures involved in today’s global economy. Make sure your upcoming grads are comfortable addressing these attributes with every prospective employer.

They are multitaskers. As organizations begin to bring on new hires, they will look for individuals who can quickly manage a variety of very different assignments. From the time they were children, Millennials have juggled family, school work, and a variety of extra-curricular activities. Their ability to multitask will resonate with employers.

Make sure you communicate to your students that, in order to succeed in today’s marketplace, the most important activity they can engage in is dynamic, face-to-face networking. In fact, some studies suggest that 80% of jobs are landed directly as a result of one member of a professional network telling another about some new opportunity. While the social networking sites can be extremely helpful in terms of building communities, they do not give students the opportunity to come face-to-face with prospective employers. Attending career fairs and meetings with alumni enhance the likelihood of students receiving those all-important job offers.

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