Motivated, ambitious driven by high aspirations, the advent of the Millennial is nigh. Millennials are no longer the leaders of tomorrow, they are in fact the leaders of today. A young adult workforce that within the next five years will comprise over 50% of the global workforce, the millennial is now the key to the success and future growth of businesses worldwide.
The millennial generation is gathering force. Demographers William Straus and Neil Howe define Millennials as individuals born 1982–2004. With one foot perched firmly out of the door, the millennial has become an integral focus for both employers and sociologists as their ability to influence future leadership style and reshape the culture of the workplace becomes evident.
Qualities of the Millennial Generation
- Ambitiously driven to convert their hopes into reality
- Millennials according to Deloitte* “often put personal values ahead of organisational goals”
- Are versatile, flexible and willing to relocate, travel and work extended hours to achieve
- View work not as a place of employment, but as an event that includes producing quality substantive and significant outcomes
- Express limited loyalty and feel under-utilised
- Feel they are not being developed as future leaders
- Cite a high alignment of values
- A recent analysis from Deloitte University Press* states that during the next year, if given the choice, one in four Millennial will quit his or her current employer to join a new organisation or to do something different
- Millennials believe every business should put their employees first
- While striving for recognition of the needs of the individual they also demonstrate an appreciation of business fundamentals
Millennial Expectations of Corporate Leadership?
- Millennials seek constant and quality feedback on performance
- Demand structured inspired leadership with the opportunity for advancement
- Management should foster a solid foundation of trust and integrity and a customer first strategy
- Follow sustainable environmental practices
- The opportunity to maintain an optimal work/life balance
- Millennials want to partner with senior management on initiatives that support long term success
- Millennials actively seek and encourage mentorship
- Offer loyalty when the employer recognises and understands the Millennials career and life goals
Millennials and the Success of your Business?
Workplace structures are changing, operating policies are becoming less rigid as new technology and talent are welcomed into the workplace. Companies who employ Millennials are bearing the fruits of their decision, by fostering a culture of effective, creative leadership and acknowledgment. As this new generation of employees aspires to achieve, fuelled by personal and professional goals, competing businesses are rising to the challenge. In order to attract this exceptional workforce, companies are innovative changing their rigid management style of old and implementing policies that rise to the expectations of their changing workforce. Businesses who develop their employees; employers who develop processes that recognise staff and help nurture and mentor employees into leadership roles will create a business that succeeds. A well-educated, innovative workforce is at your fingertips – if adaptability, communication, and cooperation form part of your company’s mission statement going forward.
Contact Headspace Training to revisit Leadership for Millennials, the key issues to motivate and keep top talent.” Call Tony Farugia of Headspace Behavioural Science on 0458 888 756 or email: info@headspacebehaviouralscience.com.au for consultation.