January 8, 2017
Our experts provide timely, essential insights and analysis for HCM leaders. We share fresh strategies and practical tips for businesses of all sizes, thoughts on hot topics and industry trends, and the latest legislative updates.
It wasn’t long ago that human capital management professionals viewed the “millennial” generation as nothing more than a tiny blip on their radar. Young people were trickling into the workplace, but there were just a few of them working low-level jobs, and their effect was negligible. No one worried about how to cater their management styles to millennials, since this was just one minuscule piece of the overall workplace picture.
Now, though? Times are changing. “Millennial” roughly includes anyone born between 1980 and 2000, so if you do the math, that means some members of the demographic are now entering their thirties. That means that increasingly, they’re climbing the corporate ranks and even assuming management positions.
How can organizations adapt to a new era in which millennials are rising to power? Will their lives change with a new generation in charge – and if so, what do they need to do differently? These are hot topics being debated by professionals everywhere.
According to Workforce magazine, this is a growing trend that might even be noticeable at your place of business. Rick Bell, the publication’s managing editor, pointed out that millennials are often ambitious – they’re not just settling for middle management positions but instead climbing higher.
“You’ve probably noticed millennials taking lead roles in business,” Bell noted. “Nearly half of millennials hold some type of leadership position in their organizations, trumping both Gen Xers and baby boomers in that generational arc. There are the Mark Zuckerbergs who are not only leading departments, but also founding and running global corporations that will shape our world for decades to come.”
Here are three changes that will shape the workforce as millennials rise to power.
Many millennials tend to believe they have all the technology and ingenuity they need to achieve at a high level, and quickly. Why wait? Zuckerberg was a billionaire business mogul before his 30th birthday. If your organization has a young leader in charge, chances are that he or she will show ambition, establishing goals and setting out to achieve them as quickly as possible. Business is about to get more competitive.
If you’ve had trouble in the past with adapting to new technology, such as a cloud server or a mobile app for your work, it may be time to face your fears and adjust to the new world before you. Millennials are often among the first adopters of new tech solutions, and they’re likely to put them to use in the workplace, as they’re eager to reach new levels of productivity.
Put it together – a need to achieve, and all the tech tools right at their fingertips – and you’ll find that millennials are eager to push the workforce to accomplish more collectively. Millennial business leaders are looking to help their team members collaborate better, work harder independently and get more done than ever before. The new generation is pushing organizations aggressively into the 21st century.