The millennial generation, born between 1980 and 2000, will shape the world of work and attracting the best talent from this generation is critical for the future of businesses. Their knowledge, skills, work attitude, career aspirations and ultimately their knowledge of new technologies will define the next generation of CEO’s in the workplace.
In today’s business world, it is evident that Generation X, employees aged between 32 to 49 are currently overshadowed by Baby Boomers, who are usually their bosses and are increasingly becoming outnumbered by Millennials. Generation X are at an age where their experience qualifies them for senior management jobs, and they are in demand as Boomers continue to retire. However, with the trend of Generation Xers who are unable to define their next steps in progression and their (suggested) laziness to absorb ever changing technology, it is the Millennials that CEO’s are seeking as the next generation of leaders.
I see a lot of Generation X types whose careers have been dragged along by circumstance, rather than driven by a plan and sadly they get stuck in a rut that starts to flavour the kind of potential employee they are. Hours and application become their currency as opposed to formal development, training and conscious self-development.
With an ever increasing shortage of suitably skilled workers, CEO’s are becoming increasingly concerned that they will be unable to source talent to enable their organisations to succeed. Globalism, technology, socio-political and demographic change will all play their roles in how businesses operate in the future. CEO’s are actively looking at millennials at work and the perspectives of a new generation and seeking to understand the characteristics of the future leaders.
In the coming few years, business leaders will be seeking the best available talent to replace the retiring Baby Boomer generation. This talent is being recruited from the ranks of millennials. As millennials embark on the midpoint of their careers, what are the hopes and expectations of leaders from this generation?
We have already witnessed the age of leading Technology businesses being headed by younger leaders. With an alternative style of management that has moved away from the rigid corporate structures of the past. Millennials will produce a management style and corporate culture that is distinct from that engendered by their predecessors.