The Truth About Millennials

Way back in 2016, Millennials became the largest group in the workforce, and by 2025, they will account for 75 percent of the global workforce! With 2025 getting closer (can you believe we only have a little over a year?!?), I thought it was time to discuss the truth about Millennials.

Did you know that Millennials are likely the most studied generation to date? That’s probably why you see article after article describing them and how they are different from the generations that came before them.

The data on Millennials is often contradictory, but there is one point that every study seems to agree on: this generation is the first to be technically savvy. And that’s really no surprise! After all, Millennials don’t know what it’s like to live in a world that isn’t wired.

But are all of the other stereotypes you read true? Let’s take a look!

What Makes Millennials Different

Here are six key areas that set Millennials apart from previous generations:

Technological Savvy/Impact – Again, Millennials grew up with technology, and therefore, are influenced by it and depend on it more than older generations. They also are more likely to use social networks to communicate with and stay connected to others.

Cultural Acceptance – The Millennial generation is more diverse than the ones that came before it, and therefore, Millennials tend to be more accepting of different races, religions and cultures. They also are less likely to have a sense of cultural superiority compared to those who came before them.

Flexibility and Multitasking – Due to their experience with technology and different cultures, Millennials are more flexible and accommodating when it comes to working with new people and in new places or situations. They also use technology to develop their multitasking skills.

Independence – Millennials are confident in taking on tasks with the help of technology. So, in other words, they are independent from relying on other people. But they are not independent in the sense that they rely only on themselves to get things done.

Teamwork – Millennials tend to be happy in groups and enjoy teamwork and collaboration over working alone.

Entitlement – Millennials are considered the entitlement generation because they expect to climb the career ladder at a rate considered unreasonable by the standard of older generations. When Millennials do not move up quickly enough, they will search for new opportunities to climb their career ladder faster.

It seems that the true differences between millennials and previous generations in the workforce are related to larger cultural shifts.

Young employees are better educated, just as each generation has been better educated than the last going back to World War II. On the same trajectory, more women are remaining in the workforce rather than staying home with children. Millennial workers are much more diverse than just a few generations ago. And they are more likely to live in urban areas.

But beyond those cultural shifts, millennial employees aren’t actually all that different from Gen X or Baby Boomer employees, according to research from Work Effects.

“Overall, differences between Millennials and other generations are much smaller than popular culture and isolated surveys lead audiences to believe,” wrote Amanda Kreun, author of the Work Effects report.

What Millennials (And All Other) Employees Want

Often, the characteristics and behaviors attributed to the younger generation in the American workforce are actually changes that older generations are exhibiting as well.

For example, it is often said that millennials want meaning and impact in their work. That’s true, but it’s also true for Gen X and Baby Boomer employees. According to research from IBM’s Institute for Business Value, roughly the same percentage of each generation reports wanting to make a positive impact through their profession. We all want to gain a sense of meaning from our work these days.

The same goes for millennials’ need for performance feedback. It turns out every generation wants feedback on how they’re doing at work, and previous generations requested the same level of evaluation when they joined the workforce.

Employees, regardless of age, want to feel supported and motivated by their employers and managers. Amanda Kreun went on to write in the Work Effects report, “Be a good leader, manager, and coach, and you can attract and retain talent across generations. Align your culture and your strategy, and keep your organization successful so that it can thrive for generations to come.”

The stereotype that millennials feel entitled to promotions every other month is just that, a stereotype. All employees want opportunities for advancement, and smart companies are answering those requests. A new trend of “shadow boards” for younger employees is starting to take hold. Shadow boards work alongside senior leaders, but members are not executives. They provide input on projects and ways to innovate, and they give a platform for anyone in the company who wants to advance to sit at the table.

How to Engage All Employees, Regardless of Generation

• Create a shadow board and open it up to anyone in the company to apply. Then give the shadow board members work of real substance to contribute to the company.
• Enhance your organization’s performance feedback system, and get all employees involved in the process of giving and receiving feedback.
• Be a leader who values, supports, and motivates the entire team, paying close attention to diversity.
• Ensure the work your company does is rooted in meaning and impact. Connect it to a mission. And provide opportunities for service to all employees.

Leadership is about more than revenue. It’s about serving people over profits. This includes your customers AND your employees, regardless of which generation they were born into!

If you’re a business leader who wants to feel supported and guided as you navigate the waters of running a business with high levels of integrity and profits, I want to hear from you.

Celeste Giordano’s mission is to help business owners develop the skills, knowledge and attitude necessary to “DoublePlus™” their income and become effective and inspirational leaders in their fields. Whether it’s taking your successful business to the next level or starting a new venture, she will teach you the exact skills and strategies you need to enroll more quality prospects, build a rock-solid team, and break through obstacles to achieve real profit and lasting success. Celeste is a professional business growth specialist, a master sales strategist, and dynamic speaker with more than 40 years experience in direct sales and managing high-performing teams.

To learn more about Celeste, click here.

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