To clear up common misconceptions about Millennials, we worked with Ben Casnocha, Michael Parrish Dudell, Chris Yeh, and Chip Joyce to create a summary of myths and facts, and provide some tips that will be helpful to leaders and hiring managers hoping to better connect with Generation Y. 

Tips on Engaging With Millennials in the Workplace

Now that we have a better understanding of Millennials (who they are, where they came from, and what they want), here are tips on how to work with them.

Understand and embrace Millennials. The stereotype that they are lazy, entitled, and noncommittal is exactly that—a stereotype—and does not represent all Millennials. The foundational challenges of hiring and retaining Millennials are not really so different from those of the past two generations. 

Create a culture that appeals to them**,** one that both new and existing team members want to be a part of. Don’t feed them a canned line (“We have a great company culture here; we really value you”). Instead, connect with existing Millennials on the team and create an anonymous survey that determines what they like (and don’t like) about working at your company. Ask them if they would refer friends to work there, and offer a referral bonus if they do. Your talent brand is defined by your former and current employees, so make sure to keep them satisfied and to tap into their vast personal networks. 

Make the effort to understand and connect with them on an individual level. Honor their individualism—encourage it, embrace it, and celebrate it. Learn who they are, what they’re passionate about, and what value system they live by. Most Millennials want to be a part of something bigger—and by the same token, they want to feel like they are valued by their organization. 

Be transparent (this is a good thing). Millennials are characterized by a generation-wide skepticism, which may be due to a variety of factors: being told by parents from an early age not to trust others, coming into their own in the world during the information age, and the experience of being “let down by unfulfilled promises. They appreciate transparency, equating it with honesty and trustworthiness. 

Grant them more autonomy. Remember, this generation grew up under the watch of helicopter parents who hovered over them, meddled, and provided safety nets. Remove these safety nets (within reason). Allow Gen-Y team members to make small mistakes and learn from them. Don’t chastise them, but instead ask what they learned and how they would handle the situation differently in the future. 

Forget the old notion of lifetime employees. Create a fixed length contract of two to three years, detailing what the company expects along with the skills, experience, and connections that the company will provide to the team member. In my experience, most major projects in organizations have a lifespan of 18 to 24 months, making a two- to three-year commitment optimal. A few leaders have admitted that this “tour of duty” model sounds risky. However, it can be risky not to embrace this new paradigm in HR—companies that fail to adapt will be left behind.  

For Millennials, tour of duty employment isn**’t all about the money.** When properly thought out and executed, the tour of duty contract between a company and its employees can be win-win. For example, rather than simply offering $5,000 to $10,000 per year to new team members, employers and employees alike can benefit from a more comprehensive package, which might include additional education, or the opportunity to be connected with influential people who can advance their careers in the future. 

Finally, don**’t be afraid of Millennials.** You were part of a rebellious generation a few (or more) years ago, and look at how well you’re doing!