Are you ready? More than 80 million Millennials will be entering the workplace, and it is happening soon. Next year, 36% of the workplace will consist of Millennials.
The question is really: Is your organizational culture ready?
Embracing a Millennial Personality
Organizational cultures will need to adapt. It isn’t about changing principles. It is about changing the way things are done. Highlighted below is an infographic produced by MBA@UNC in partnership with the Young Entrepreneurs Council and their #FixYoungAmerica campaign.
Here are some interesting Millennial statistics and findings from the infographic:
- 52% said opportunities for career progression made an employer attractive
- 65% said the opportunity for personal development was the most influential factor in their current job
- 22% saw training and development as the most valued benefit from an employer
- 71% of Millennials would like to work abroad
- 80% of Millennials said they would rather receive feedback in real time
- Millennials want a work environment that is comfortable and inspires them to contribute
- Millennials are natural collaborators when purpose and goals are understood
Adopting a Millennial Culture
The more statistics, the more it all just blends together. Maybe it is just me. When looking at the numbers above, they just don’t matter. Remove the the statistics, and the narrative is vital to a vibrant organizational culture.
- Career progression
- Personal development and training
- Work abroad
- Receive feedback in real time
- A comfortable and inspiring environment
- Collaboration with clarity of purpose and goals
What these elements mean for an organizational culture include:
- Clear career plans and rotations to develop the next generation of leaders (including a global perspective, if possible)
- Solid training and development offerings to include a professional and personal focus and betterment
- Timely feedback where frequency and meaning are essential; annual reviews become just a milestone
- New workspaces to enable interaction and familiarity, meaning ease to work together (around a “kitchen” table or an individual space, for example)
- Clarity in purpose and goals to empower collaboration and inspire the work to be done
The reality: this is a culture most generations want. The difference is it can no longer just be words on a wall. This is the culture the next generation of leaders will demand and put in place as leaders. It is a culture of words-in-action. It is a culture we need to be building now.
What other elements would you add to build the right organizational culture for the next generation?
Via MBA@UNC:Online Business Degree & The YEC
I’m totally with you. I believe “this is a culture most generations want.” I remember being labelled as “generation x”… in HR discussions years ago. I kept thinking, yeah I want these things… but who doesn’t?
Agree! We all need to get together – across generations – and work to make the culture we want to happen…. once and for all. Thanks, Karin.
The other element I would add is equal voice (whether or not we deserve it is another question). This kind of ties in with collaboration. I think millennials want a seat at the table and the ability to share their ideas. They don’t want a task to complete but the ability be a part of something that is vibrant and creates change.
Great point, Luke. I agree. We do need to invite Millennials to the table to gain their insights and approaches to solving problems. It is in the exchange of ideas between generations in which the most can be accomplished. This is the right type of collaboration! Thanks for you insights! Jon
Hi Jon,
I really enjoyed absorbing the infographic and thank you for sharing it.
I thoroughly enjoyed your post as well. I was delighted to see career progression, personal development and working abroad to be so popular. From my own experiences, I definitely appreciate feedback from employer’s real time, rather than performance reviews, which happen after some months. Instant feedback can be such a powerful motivator and enables us to change our course of action quicker, if our current approach isn’t as effective as it could be.
Thank you.
Timely feedback is something we need to do across generations! I agree with you, Hiten. Performance reviews many be outdated and should be just treated more as a milestone. Snapshot reviews should be done all along the way.
Thanks for your comments! Jon
The one statistic that stands out to me is desire for work abroad.
“71% of Millennials would like to work abroad.”
Wow, that’s a startling statistic. I’m not sure if many companies are taking advantage of this opportunity just yet! I’ve not worked in an international market, but I would imagine that desire is a large factor that influences the success of a team in an international market. International travel is demanding.
On the other hand, I wonder if this is a reflection of where these individuals are at in their life. They are less likely to be married with families, so perhaps international travel is more attractive to them right now.
Great article, Jon! Thanks!
Thanks, Erica. It may have to do with the point in Millennial lives. Less responsibilities enable going overseas more doable. However, it also may be due to the fact that the global social connections are encouraging Millennials to connect locally in a new culture. In other words, if you are interacting with people already all over the globe through social media, then it may reduce any perceived barriers of actually living and working in another country.
Either way, you are right; it is a very high statistic. My guess is it hasn’t been that high in previous generations.
Thanks for your comment and insights! Jon
You’re right, Jon. Those are things ALL generations want and finally the generation is here that will accept nothing less. Also – big wow from me that next year 36% of the workplace will consist of Millennials. The shift is upon us and will benefit not only the Millennial Generation – but all generations.
Agree, Alli. It really isn’t a matter of what change will happen; it is just how soon it will happen. Excited about what is ahead! Thank you. Jon