Are we prepared to welcome Millenials to the workforce ?
Posted on July 04, 2016
More than one-in-three American workers today are Millennials (adults ages 18 to 34 in 2015), according to new Pew Research Center analysis of U.S. Census Bureau data. By the year 2020, almost half of the workforce will be made of the Millenials.
Whether they are called GenY or Millenials, we are referring to those born in the ‘80s and ‘90s and who have for the most part grown up in a digital age. With the social era picking up in the late 2000s with Facebook and Twitter, they have consumed most of their information through online networks or publishers. They think and collaborate differently. These young adults may not be looking at jobs to merely feed mouths at home. They will look beyond pay. More likely they will be looking at learning new skills and technologies every few years and will feel less obliged to stay on in a company unless their needs are met. They will be looking at companies that provide more professional development to grow their long term career.
They are most likely to be less risk averse unlike their predecessors. This new breed of workers will also be more entrepreneurial in nature and perhaps idolize other young leaders who have taken greater risks in their attempt to change the world. As entrepreneurs and leaders who rise to the top quickly, they will themselves be less likely to hire people with just college credentials to boot, making resumes a thing of the past. They are more likely to hire people with passion, curiosity, those that can collaborate and network faster along with the ability to quickly pick up in-demand skills which will drive and speed up innovation in these new generation of companies.
Companies will also have to quickly become more dependent on data to thrive. Today, data driven technologies allow for better business decision making. In my mind, we are going to see a change in the trends and the culture of the workforce. GenXers will also have to update to this new era where social, mobile and cloud will continue to see rapid innovation. I think HR and Learning Teams will need to rewrite the culture of the company and strive very hard to create one where both GenY and GenX can become equals. Both generations will need to learn from each other and just like we have started to pay attention to diversity in workplaces, we also have to encourage building teams between members within different age-groups.
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