What makes Gen Y tick has been well analysed, such as the study[1] conducted by us in 2015 revealed a wide perception gap between what millennials actually want from their employers and what those employers think they want. So being a millennial leader, I’m adding my voice to the throng.
A career path is often referred to as a career ladder; however more recently, the term ‘career spiral stair case’ has come about. This concept focuses on employees passing through various teams and roles on their way up in the company, rather than climbing vertically in the role they start out in. This allows employees to build a much more varied skill set. Millennials avoid committing themselves to anything, which is evident from the recent rise of no-contract subscription-based services such as Netflix, Giffgaff and Relish. We are also aware of the turbulent business environment which has brought down or radically changed countless businesses in the last decade. Therefore we are reluctant to tie ourselves down to one role and prefer to be prepared for organisational change by having a dynamic set of skills. It is vital for companies to cater to this need by offering employees the chance to work for different team, sister/parent companies or international branches. This is also an excellent way to promote communication and learnings from various corners of the business. I can vouch for the value of expat assignments myself, having spent a period of my recent career working in the U.S. In a new environment with different challenges and greater responsibilities, my leadership skills really developed.
Millennials have grown up with visionary leaders, such as Steve Jobs and Mark Zuckerberg, and we expect and aspire to work with leaders with similar characteristics. These collaborative and visionary leaders can be excellent mentors compared to some of the straightforward, results-driven corporate managers of the past. This doesn’t necessarily mean that visionary leaders do not demand hard work, but they tend to have bigger personalities with a transparent and inclusive vision for the team and company. This inclusive vision can often result in numerous benefits for employees, including the transfer of leadership and communication skills and an overall inspiration to do better in their careers. A major part of this transparent leadership is the fact that they are able to engage in purposeful one-to-one conversations with their employees. These career conversations can have positive benefits for both the organisation and the employee and is something millennials will expect as a part of their continued career development.
However, our recent research has shown nearly a third (31 percent) of managers today are ill-equipped to have career conversations with their direct reports. The consequences of this can be significant if left unaddressed, with employees dissatisfied with the level of career development support they receive from their employer and sometimes leading them to vote with their feet. Career conversations are not the only thing the next generation workforce will expect when it comes to personal development. We millennials have grown up with education available at our fingertips and this is something we expect to continue at work. Businesses must strive to quench the thirst for knowledge by offering self-development courses such as new languages, software training and even courses in non-work related activities such as stress management and yoga classes. A multi skilled workforce can only be good for the company, so this is an investment that will benefit more than just the employees.
We often talk about diversity in terms of the importance of achieving equality for societal reasons; however it also makes good business sense. Achieving a diverse workforce in a company of any size means there will be diversity of thought and in turn innovation. We millennials are digital natives and have grown up in a culture of immediacy and we expect a working environment that is dynamic as a result. I think it is fair to say my generation has a much more holistic view of a career, therefore we are likely to scrutinise aspects that generations before us have long been complacent with. Refreshing the employee benefits on offer is an excellent opportunity for companies who are looking to attract and retain the shining talent of the future, to effectively differentiate themselves from the competition without bearing major financial costs. We need to move away from thinking of employee benefits merely in terms of tangible perks and towards recognising each and every aspect of a job as an important part of getting employee engagement right for millennials.
[1] Research conducted by OnePoll with 1,000 employees aged 18-34 years (November 2014)
