Deloitte’s 2016 Millennial Survey brought to light some MAJOR insights on some of the challenges organizations are having with the next generation of leaders.
To say Millennials are disrupting the status quo of corporate culture is an understatement!
We are flipping the values upside down in an ever-changing work environment and global marketplace and it’s a wakeup call to any company looking to bring in new talent and maintain loyalty.
Most other generations might asks themselves:
“Why are organizations so invested in knowing what Millennials think?
With so many other discourses that need to happen, why is Millennial Leadership a top priority to a growing number of organizations today?”
Let’s look at this from a strategic standpoint:
Millennials are changing not only the face of organizations but also how companies do business in a today’s interdependent world.
Millennials are next in line to take over the ranks of global organizations at an executive level – some already have! – Think Mark Zuckerberg. We already make up over 50% of the workforce and that number is set to grow to over 75% over the next 10 years.
Organizations who haven’t developed a strategy for their Millennials may find themselves at a MAJOR disadvantage when it comes to recruiting and retaining the next generations of leaders.
Here are 4 findings from the Deloitte’s survey that show why Millennials aren’t playing when it comes to the workforce:
1.Employee Loyalty Is Not A Given – It Has To Be Earned
More than anything, I think what the finding on loyalty says to me is that gone are the days when the simple act of employment guaranteed loyalty. I can remember my mother saying that all you need to do in life is find a “good” government type job and stay there. Employers didn’t have to earn the loyalty of past generations in the same way they do today. The workplace was different. Our priorities have shifted. The defined lines between home and work are all but extinct and we’ve seen loyal employees lose their “good jobs”, families and relationships to unloyal organizations.
We know better, so we want better! #Pointblankperiod
2. Learning and Career Development Are Key Motivators For Millennials
The truth is many Millennials will not stay more than two-three years at an organization that doesn’t actually support, train or develop them.
I mean really, would you want to spend 10 years being employed by a company that is unwilling to help you grow? That has no interest in your developing beyond the confines of your job. You spend most of your life working, do you want to work for someone who isn’t invested in your growth?
The research is clear. Millennials want career development. We want personal development. And we also want to know that our employer are willing to invest in us too!
3. Social Impact Has To Be A Part Of Organizations Business Model
I think we’ve all seen enough of what corporate greed can do. From things happening on Wall Street to organizations around the world in the headlines for unethical business practices and approaches to treating their employees – think lower than living wages and pocketing or corporate revenues)
Millennials have realized that we can’t just take from the earth without giving something back. Social entrepreneurship, a community agenda – Social responsibility is everyone’s problem and Millennials want to know that organizations are doing something the right thing with their power, resources and influence
4. Conflict of Values Can Drive The Best Talent Away
More than anything, my loyalty lies with organizations that are willing to stand by their values and walk their talk. Milllennials want to know that their employers’ values align with their own.
And we also want to know that its not just rhetoric or marketing. We want to know that the values our organizations promote are felt at all levels of the company. From the front line support staff to the C-suite executives.
We want to know that “value” is not just a great buzz word, but real life actions that better the lives of employees, clients and stakeholders alike!
Have you read the results of Deloitte’s survey?
What are your thoughts on the results?
I’d love to hear your perspective below!