This presentation quickly details some of the potential large-scale implications of Millennial mentality in the workforce today. Will a significant skills gap develop? How do we best groom the upcoming generation for positions of leadership?

1. The Millennial Paradox

2. The times are a-changing. Bob
Dylan may have uttered this
sentiment in regards to social
revolution, but the same can be
said of our rapidly transitioning
workplace. As baby boomers
exit the job market and
millennials enter the workforce,
companies are finding
themselves facing questions of
leadership, questions of
training, and questions as
seemingly fundamental as even
how to approach
aforementioned questions. In
the face of uncertainty, one
thing can be said as
incontrovertible truth.
Millennials are not their
parents.

3. Placing emphasis on things like
corporate social responsibility, an
employer brand, and rapid leadership
ascension while neglecting things like
loyalty, training, and traditional
corporate structure, millennials pose
an interesting case study for the
future. What is the best way to
harness the potential of this emerging
workforce? How do we capitalize on
the best talent of the upcoming
generation? How do we best groom this
generation for leadership roles?

4. The truth is, of course, there is no “right”
answer; but there is certainly a variety of
answers nonetheless. Seb O’Connell, the
executive vice president and managing director
for Europe at Cielo, believes that an impactful
gap of skills could develop in the relatively near
future. In response to this potentially
detrimental, although currently hypothetical,
situation, O’Connell claims businesses should
make an effort to identify Millennials with a
high capacity for corporate success. On
identification, then said business can begin to
implement the proper training and metrics to
put the respective millennial employee on the
track to efficient leadership.

5. However, this theory of identification and subsequent devotion of training
resources hits a snag in regards to loyalty. In fact, a 2016 Deloitte survey
concluded that two of every three Millennials plan to leave their current
position by 2020. So within four years, well over half of the current millennial
workforce plan to be employed elsewhere. Naturally the question arises: “Why
devote these resources in the first place?” But there is no universal answer.
Each company’s situation is unique and so there is a different reply for every
set of circumstances. Regardless, this question remains as pertinent as ever in
selecting Millennials to hire.

6. Lisa Mullen of Halogen Software
thinks the answer to attaining and
retaining top millennial talent is
to integrate “ongoing performance
management” as part of the daily
routine. In this way, employees
regarded as prospective leaders
would have access to senior
management wisdom, thus
effectively grooming them for
more prominent positions in the
future. That said, a measly 7% of
companies “offer millennial
coaching, mentoring, and
dedicated time with their chief
executive and other senior
leaders.” So while certainly a
great idea in theory, it does not
seem many companies are
implementing this approach.
Maybe senior executives’ time can
be better spent elsewhere not
tutoring entry-level positions.
Regardless, something should be
done to ensure the skills gap
mentioned previously does not
come to fruition.

7. Millennials pose unique obstacles in the workforce today as well as tomorrow. They
crave rapid promotional ascension, yet simultaneously aren’t receiving the
leadership training required for such promotions. They look for a respectable
corporate brand that resonates with their own perspective of the world, yet largely
plan to leave their current employer within four years. Perhaps such contradictions
are indicative of a pervasive naïveté that envelops the younger generation. But
perhaps not. Perhaps it is indicative of something better, of not settling for less, of
making the world a better place. Perhaps, capitalism is evolving.