Nonprofit financial management positions are starting to be filled by Millennials, and whether you love or hate them, they are the largest demographic to enter the workforce. They even surpass the notorious ‘Baby Boomers’ for the sheer volume of people in the workforce. Chances are good you’ll either meet or manage a Millennial – or be managed by one – very soon.
Defined as the demographic born between 1977 and 1995, these are the young people who came of age at the turn of the last century. They can’t remember a time before cable television, the internet, or cell phones. And although a lot of myths surround them in the workforce, painting them as alternatively lazy and creative, they are neither. Like all demographic groups, these are generalizations.
The specifics for nonprofit financial management is that Millennials offer a lot to your workforce. If you can learn to manage them wisely and in ways they respect, you’ll add terrific talent to your nonprofit organization.
Millennials Need Coaching – But They Might Not Ask for It
Like other young people entering the nonprofit financial management work, Millennials may need coaching on the job. But unlike other demographics, the independent-minded Millennial is unlikely to ask for it.
Many of these young people never worked while going to school. They went straight from high school to college and then they end up at your nonprofit organization. This changes their attitude and behavior in the workforce. They may have an accounting or marketing degree and have the book learning to do their jobs, but they lack the professional mindset, attitude and behaviors that many young people in generations past acquired through part-time jobs flipping burgers, ringing a cash register at the mall, or waiting tables.
Even such simple things as showing up on time and how to answer a telephone professionally may need to be taught to this group. That may sound like a stretch but think about it. Those minimum wage jobs many of us held while going to high school taught us simple things like how to show up for work on time, wear professional attire or a uniform, answer the phones, and greet customers. Without that work experience, there’s a gap in simple knowledge that many among the older generations take for granted.
Here’s how to deal with it, simply and kindly: set expectations, never assume that Millennials are making mistakes out of ill will, and teach, coach and mentor. Be prepared to offer basic workforce training, if needed, and have the young worker shadow an experienced person to pick up on the attitude and behaviors that you want to see at your nonprofit organization.
Millennials are used to group projects and gladly accept group-related coaching, so pairing up a mentor with Millennials can work well. Don’t take anything for granted with your Millennial staff members. Spell out clear expectations and gently guide them toward success.
Loyal Employees
You’ve probably heard that Millennials job hop frequently and worry that this means they won’t stay with nonprofit financial management work for a long time. The truth is that Millennials aren’t disloyal; their loyalty is average or above average. What they loathe is boredom.
Boredom drives many Millennials to switch jobs frequently. To prevent this, make sure you provide your younger employees with challenging tasks. Switch up their work and let them come up with projects that benefit your nonprofit.
Technology, Anyone?
Millennials are often rumored to be tech-dependent, but they aren’t necessarily dependent. It’s more accurate to say they are aware of technology and comfortable with its use. They may turn to instant messenger apps or their cell phones before they think of sending an email or a fax (which can seem archaic to them!).
If your nonprofit handles sensitive materials, be sure to review procedures with Millennials to ensure HIPAA compliance, for example or other necessary legal compliance. They may not know they can’t share information on social media or that instant messengers are a poor replacement for phone communications.
Millennials aren’t an exotic species. Rather, they reflect the times in which they grew up, just as you do and the generations before you did. Respect their point of view and working style and you’ll find them an asset to nonprofit financial management.
Beck & Company
Beck & Company is an independent certified accounting firm specializing in nonprofit organizations. Since 1987, we have helped many nonprofits in the Washington D.C. area and along the Eastern seaboard with their accounting and financial management needs. We provide audit, tax, accounting, and consulting service that addresses all aspects of a small to mid-sized nonprofit organization’s business. Contact us or call 703-834-0776 x8001.