“Millennial,” as most people are already aware, is the commonly used term to describe the growing generation who is expected to push the world into a new era.” They are also defined as “Generation Y,” “Gen-Y,” “Generation Why,” “Echo Boomers,” and “Generation Next”. By positioning the Millennials in a multigenerational perspective they are Global Citizens Born in the late 70s and early 80s.
The statement “my career is my choice, and it is not chosen out of desperation. It should align who I am with what I do” resonates with many millennials. Moreover, they are not willing to devalue their accomplishments, quite the reverse they will be expecting not only “creative rewards” by today’s standards, but also latitude to influence the way they work and where and how they operate in the workplace. This attitude represents one of the biggest challenges that many organisations have started to face.
Millennials want companies to nurture their career development. They are “clamoring” for more training, mentoring programs as well as more frequent and detailed performance assessments.” This is a challenge which companies are currently facing considering the fact that there are currently four generations in the workforce. The situation exacerbates also due to the fact that many managers and human resources professionals may still be using post-industrial human resource management systems and lack insight into how to effectively identify, understand, and motivate the Millennials. Needless to mention about recognizing their achievements and timely addressing challenging that the youngest cohort of their knowledge workers encounter in their companies.
Another specific characteristics of millennials is their ambition to have a fulfilling life and aptitude to acquire and apply knowledge in real-time. They expect to move quickly upwards through an organisation, likewise they move on quickly if their expectations are not met. Their “lack of experience” which is the current mantra among managers does not undermine their self-worth as they know that they add value through their ideas, their analyses, their judgment, their syntheses, and designs. This should be duly appreciated since information and technology have become the new drivers of wealth creation and who if not the millennials are best equipped to fully grasp and utilize these resources.
The “new global economy” is being shaped by a millennial knowledge worker’s ambitions and vigour.
And is it not high time for companies to accept that millennials are a powerful generation, and those who have the right skills are aware of personal worth?
Addressing the needs and desires of this particular segment of workforce as well as understanding motivational needs of each individual employee has become urgent, and it requires that managers prioritize this “challenge” thus adopt flexible management style, develop the requisite strategies and open-minded outlook.