By next year, Millennials (young professionals from age 20-39) will form 50% of our global workforce.
What does that mean? Well, for starters, we would say it is about time to cut this generation some slack. For roughly a decade they have been called lazy, entitled narcissist while the latest research proves quite the opposite.
So, what are Millennials bringing to the table and how will that shape the way we do business?
1. Adopting the Growth Mindset.
According to the research from PWC, over 65% of Millennials will accept a job if the organization can convince them of the opportunity for personal development through coaching, training and on-the-job learning. What they certainly don’t believe is that not having a certain skill set today should prevent them in getting that promotion tomorrow. Why? Because they can always acquire it. They believe in the power of constant learning and improving and in their ability to do so. The frustration often happens when companies fail to notice and choose to hire someone from the outside rather than investing time, energy and resources to develop their existing talent. In other words, employees have adopted the growth mindset but the organizations are still falling behind.
2. Demanding Corporate Responsibility.
It is precisely thanks to this generations that brands are expected to have a higher purpose then simply providing good services and products. Millennials are the driving force behind Social Responsibility as over 50% feel responsible to make a positive contribution to society and 44% of them are actually doing so trough some form of formal/informal volunteering as shown by the recent research from Ipsos Mori. Not bad for egotistical, self-absorbed narcissists.
3. Embracing Flexibility.
Rather than being passive and waiting around for that promised promotion, Millennials have the courage to step outside the “golden cage” and to embrace the uncertainty of juggling “gig jobs”. While this behavior has labeled them as inpatient, entitled and lazy what the research shows today is that Millennials are often working several different jobs with the same or even higher weekly hour average then their generational predecessors Baby Boomers. Millennials’ love for work-life balance and flexibility has been the foundation of the ever-growing “gig-economy”. Still, the research shows that should the organization itself offer flexibility, work-life balance and opportunity for development their loyalty and trust would remain unquestionable.
4. Creating a more tolerant and diverse company culture.
While most of generational myths have been debunked by the Ipsos Mori research it remains a fact that Millennials are far more tolerant then any of the previous generations with 80% of them firmly stating people should be free to live their lives as they wish. When it comes to the hot topic in every organization- Diversity & Inclusion, the research from Deloitte shows that 47% of Millennials are actively looking for diversity when sizing up potential employers. What’s even more interesting when talking about diversity is that Millennials demand from companies to go beyond the traditional way to define diversity through racial, gender or ethnic demographics and to provide a culture where there is a real mix of experiences, ideas and opinions because this is what drives and enables constant innovation, another area Millennials are at the forefront.
If you are an organization that wants to embrace the changes that over 50% of your employees are urging for, let’s talk and see how we can help you.
Adamant shifter of status quo, Nada believes that clarity comes from action.
With Masters in Communication Science, she has spent over a decade challenging corporate environments and their rigidity to open up to creativity, innovation and transparent communication. After successfully developing global beauty brands she understood that it is more fruitful and sustainable to develop the people behind them.
Certified Professional Co-Active Coach (CPCC) trained by the Coaches Training Institute and Associate Certified Coach (ACC) by International Coach Federation with a gift of connecting people to their most courageous self.
Firm believer in the power of mindset, work-hard, play-hard mentality and a little bit of magic.