Millennials add a unique perspective to a multigenerational workplace, and it is imperative that managers help coach and mentor these young Gen Y workers to prepare them for future leadership roles.
Why is this so important to the workplace?
Millennials are expected to make up 75% of the workforce by 2025 — employers who tap into the unique strengths millennials offer will have an edge over their competitors.
- Passion.
According to a recent study conducted by Bentley University’s Center for Women & Business, 84 percent of millennials view making a positive difference in the world as more important than professional recognition. We need to tap into their desire to make an impact by ensuring they understand our organizations’ vision and values, and how the work they do supports our strategies. Enlisting their support for charitable and philanthropic activities is another way to put their passion to work. Note to managers: Tap into their passion, increase their engagement. - Leadership.
According to a recent study by Deloitte, almost one in four millennials are “asking for a chance” to show their leadership skills. And 75 percent believe their organizations could do more to develop future leaders. As managers or leaders, we should be finding ways to enable millennials to grow on the job and practice their leadership skills. By doing so, we’re not only retaining talent but also building stronger succession pipelines. This may require managers to think less traditionally about how to give these folks a chance to show their stuff, but the creativity will only enhance the experience. - Innovation.
Technology has shaped millennials to expect and embrace rapid change. In their vision of the workplace, constant innovation and strategic creativity are the norm. This eagerness to try new approaches can spur product development and fresh perspectives that all employers need to be successful. - Collaboration.
It’s practically impossible for Gen Yers to imagine a world that isn’t connected across cultures, communities, ideas and attitudes. Diversity isn’t a goal; it’s a way of life. According to recent research from Ernst & Young, Gen Yers rank ahead of Baby Boomers as the most inclusive leaders, opting to involve a diverse set of people in developing strategies and making decisions. Millennials look to more than one person or point of view for the answers they seek, and they appreciate the talents and skills others bring to the offering. For a global company, these skills are essential for both culture and better outcomes. Simply put, they are good for business.
Every generation wants to make its mark on the world, and Gen Yers are no different. Having grown up in an era where technological innovation and global inclusion are the norm, they come to the workplace with a different set of ideas and expectations. We can embrace these talents and stop spending time stereotyping them. We can also harness these qualities not only to build organizations where strategic innovation thrives, but also to begin preparing today the leaders of tomorrow.