Millennials are going to rule the next decade. But the
crucial topic is “Are they ready to lead?”
Several researches have taken
place in this area, Deloitte India conducted a research to look at the working
and leading styles of millennials in India.
The very first and the most striking finding was that
“Millennials want leadership, and they want it their way". Millennials have
seen an economy of constant change wherein big organizations have lost their
charm. Young leaders drive motivation when an area of exploration and creation
is provided to them than simply, following the existing traditions. Millennials
want leadership but they sense a vacuum of good leaders. Are you listening
L&D departments?
The second finding that came across the table was that
"Millennials know they are not ready for leadership, but they want it
anyway". These bunch of young leaders want leadership but have no
direction towards it. Thereby, Organizations should heavily invest in providing
them a platform of learning and development. A platform wherein, they are
exposed to the role of a leader and what it takes to become an efficient one. The
tricky part here is the young crowd are not looking for training sessions that
have been repetitive for the last twenty years which churn out the same copy
paste knowledge. They want to be coached but the right way.
The third finding is Millennials value an open, transparent,
inclusive leadership style. Millennials believe leadership should be run on
this motto. Transparency and openness breeds engaged employees in the
organization. It’s seen that highly included individuals shoot up performance
level to 80%.
The fourth finding said that “Millennials demand career
growth". Millennials want to move rapidly, they yearn for changes and
development, they are constantly looking for opportunities to grow and explore.
Millennials during interviews mentioned that once they do not sense growth in a
company they leave immediately. Older organizations have to develop a model
that keeps the young engaged.
The fifth finding said that "Millennials thrive on
fairness and performance-based appraisals, not tenure". Millennials highly
reject the idea of tenure; they strongly dive in the idea of fair performance.
They are not restrictive to their “roles” but thrive for a set up wherein, they
have the availability of exploring beyond. This change in organization dynamic
will enhance the growth of employees.
The sixth finding said that “Millennials are comfortable
with less role clarity and less manager led career." Young employees
definitely want a manager that’s transparent and open but also, they do not
want the need to go to the same person constantly. They would prefer to go to
several mentors, peers for help/guidance/support. They believe in forming a
supporting network than being strongly associated with one manager for all the
support.
The seventh finding said that “Millennials thrive on
Innovation and change." Millennials want to stay in an organization until
its dynamic and evolving. Once, they realize that the organization progress is
stagnant and there’s nothing new to evolve, they would prefer to give in their
papers. Millennials have seen an economy of start-ups ruling and big
organizations failing, they thrive by the idea of innovation and change.
Organizations should remain dynamic throughout.
The question remains “Who can make these changes?”, “Where
can these changes stir from?” It is the HR department. The HR department is the
one that brings about a change in the organization’s structure, management,
process. There is no denying that Millennials will rule and lead the show.
Organizations who survive the change, evolve with the innovations and grow out
novelty will be the ones who’ll make it.