If you are not prepared for the Millennials, your business is not prepared
August 23, 2017
Over the last 12 months, we have been asked by seven different clients in seven different industries to help solve the realities of blending Millennials into their existing teams, culture, and vision.
Why is it so important to understand how to integrate Millennials?
In 2015, Millennials comprised 35% of the Workforce
By 2020, one in three adults will be a Millennial
Moving into 2025, three of four workers will be from the Millennial generation
Only 33% of Millennials know if their performance is good enough
Only 23% of Millennials are comfortable discussing their compensation
59% of emerging Millennials would choose a job they love, with purpose and meaning - even if this means a lower pay level
Only 28% of Millennials are comfortable and confident with their communication skills
Over the next 10 years, all the millennials will come into the workforce, while virtually all the Baby Boomers will have left
Successful Business Leaders will be those who understand and appreciate what the right Millennials can bring to the workforce. They will learn to work with and apply differences in strengths, values, work life priorities and the expectations Millennials bring to the table.
Business owners and management have shared their issues with Millennials:
They expect to start at the top without gaining experience
Want a pay rise after 3 months when they have not yet grasped the basics
Not interested in putting in the effort, or work the hours required
Think they can do it differently when they have not learned the process
Lazy, presumptive and impatient
Pre-occupied with social media, poor communicators
Ironically, I am a classic Baby Boomer and have experienced the generational differences between Baby Boomers and Millennials firsthand, when communicating with my 34-year-old daughter, who is a highly successful executive with one of the world’s largest IT and Social marketing groups.
Through our studies and experience over the last 5 years, I have been able to understand where my daughter’s behaviors come from and adapt my behavior so that I do not go totally insane when we communicate.
The value from these studies allows businesses to find the right candidates to:
Fit into existing teams and culture
Allow business leaders to understand the importance of individual’s working to their strengths
Have management leaders be flexible enough to adapt their own behavior and communication to get the most out of everyone
Like it or not, your business future is going to depend on finding the right Millennials
Consider if you understand:
The challenges that Millennials are facing?
What Millennials look for in a role to be able to stay long term. (If they don’t get it, they will move on)
How forward thinking leaders within businesses are applying strategies for overcoming all the present, past and future challenges with Millennials
If your staff are working to their strengths for maximum engagement
Who are you considering as future leaders in your business and do they really have what it takes to lead?
Who should be replaced now, instead of continually “hoping” for improvement and waiting 6-12 months to review
“Ideal Millennial Benchmarks” of 21 sub-conscious strengths, (which drive up to 80% of behavior.) clearly shows the underlying character traits driving the Millennials you must employ.
We recently helped a Hardware and Timber group understand why certain Millennials employed outsold their peers by 300% and others did not cover their costs.
If you want help with Millennial challenges, or would like to explore a cost-effective in-house hiring tool, (recruiters use to hire their own staff) showing which Millennials should be hired; we would be happy to provide proof of concept.
Acknowledging with thanks the research from: “Managing the Millennials” by Chip Espinoza and Mick Ukleja; “Managing Millennials” by Hannah L.Ubi, Lisa X Walden and Debra Arbit; “The Apple Experience” by Carmine Gallo; and “Flourish” by Dr. Martin Seligman
Millennial Benchmark Resources: True Colours PEOPLE Solutions