The Impending Tsunami of the Millennials

by | Feb 11, 2014 | Leadership

What role will you play in this next decade as we begin the changing of the guard, as Millennials take over the workplace? Analyses and statistical reports are pouring out of everywhere to draw our attention to the fact that the era of the Baby Boomers will be shortly drawing to a close and the Millennials, the group of individuals born between 1983 -2001, are soon to dominate businesses world-wide.

Unanimously it is agreed that this is the most educated, confident, and socially engaged group to ever grace the planet. It’s a generation that heavily relies on technology and digital information as a powerful and effective voice of truth and authority. Access to information is quick and appears limitless. So now, the playing field is leveled between knowledge and experience. It is going to be like a re-writing of the annals. Out the window will go the old adage of “this is how we’ve always done things.” Millennials are so used to fast pace, easy access, multi-tasking and change, advancements are going to be happening at lightning speed. Either companies will start gearing themselves up for the ride, or they will be quickly out of business, for lack of employees and customers.

No matter on which side of the generational gap you find yourself, here’s a short tip list of items to keep in mind:

1) Job competition is not limited to the mainland—Occupational globalization will hit the Millennial generation harder than any time previously. Already millions of entry-level jobs have evaporated from sight here in the United States. More and more, companies big and small are using online services like oDesk and eLance to contract out virtually any task. Millennials must be savvy and forward thinking, just to maintain their competitive edge in the world. U.S. Business management cannot ignore the fact that shortsightedness in not preparing well will inadvertently cause crippling economic crises at home.

2) Innovation means change—The mission, vision, and values of every business should be evaluated through a new lens. There ought to be hiring policies, skills testing, and training that reflects the new era. If a company is viewed as antiquated, it will not maintain the fidelity or interest of the Millennial generation. Millennials are looking to be innovative, respected, and valuable members of an organization. Statistics state that half of all Millennials would rather have no job than work at a job they hate. The common goal should be managing change so that clear vision and direction are constant and employees and employers are working together well.

3) Mentoring work—The older half gets an upfront and first hand encounter of a changing value system, and Millennials are afforded the necessary and practical transfer of knowledge. Per research, almost one in four Millennials is asking for a chance to demonstrate leadership skills. Normally, the best leaders also know what it means to follow. It will take dedicated, deliberate, and intentional investment in the lives of our future leaders for effective transfer of industry knowledge to happen.

In sum, we are a business culture that is being catapulted forward. The millennial generation worldwide is on the move to do things differently. Everybody plays a part in this and we all need to manage this huge paradigm shift accordingly. Are you ready?