Millennials are going to rule...

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.