New Delhi: The largest and fastest-growing group of workers in the workforce today are millennials. India is one of the youngest nations in the world, with a millennial population of over 400 million. Indian millennials, who number over 440 million and were born between 1981 and 1996, are without a doubt the largest millennial group in the world. India’s median age is predicted by the CIA World Factbook to be 28 in 2021. This indicates that, compared to thirty-eight, thirty-seven, and forty-seven years in the United States, China, and Japan, half of its population is under the age of twenty-eight.
They are also among the newest managers we have. Millennials are creating a new workplace culture as they go up the corporate ladder. The majority of managers today are millennials, according to new LinkedIn research. The ramifications are obvious: Millennial managers are changing the workplace and the organisation, which will have an effect for years to come.
As older generations start taking permanent retirements from the workforce, millennials are increasingly taking up mid-level managerial positions, and some are rising into positions of decision-making. This change may be seen clearly in the way millennial managers guide their teams. Here are several ways that millennial executives, as they move through the management ranks, are improving corporate culture, from open communication to collaborative work settings.
Millennials work for a purpose
Millennials require purpose in their employment. According to a study by the Society for Human Resource Management, 63 per cent of millennials, the majority of whom are under 35 years, prefer to make a profit over improve society. As many as 57 per cent of millennials want more company-wide service days, and 94 per cent want to use their abilities to help a cause. The report shows that millennials are the first generation to expect that their employment be more than just places to work, despite the fact that they are frequently characterised as entitled, lazy, distracted and worse. They anticipate that the organisation’s mission and purpose will be in line with their own. For this generation, the focus has shifted from a wage to a purpose, and the culture must follow suit.
Millennials managers pursue development
The majority of millennial managers are aware that sophisticated coffee makers and ping pong tables do not motivate employees or produce job happiness. This generation is driven by progress and purpose. Millennials make up the majority of the workforce. The unique traits and attitudes of this generation regarding work and careers are reflected in changes at the workplace. They anticipate that policies, principles, and development programmes will support their vision, principles and the professional future they envision.
Millennials don’t want to be bosses
They aspire to be trainers. They don’t seem to care about the conventional methods of command and control. Millennials enjoy coaching because it helps them recognise and develop their skills as people and as employees. Instead of being bosses, they prefer to be leaders. They value cooperation and desire to establish connections with the C-Suite as well as their reporting manager’s leadership teams. They want to set an example by being accessible to everyone, regardless of position or authority.
They don’t want to fix weaknesses
Millennial managers place more emphasis on enhancing employees’ strengths than addressing their flaws. Weaknesses shouldn’t be overlooked by organisations. Instead, they should focus on enhancing strengths while minimising weaknesses in order to build healthy work cultures. They would like that the company give its workers more chances to develop and advance their skills so they can overcome and counteract any limitations they may have.
Will to change
Millennials have the ability to affect significant change in businesses with millennials in leadership roles as well as in the teams they lead. Many millennials are moving into leadership roles. Millennials, a generation often known for looking for a sense of meaning in their work, are now assuming leadership positions. According to Gallup, an American analytics and advice firm, millennials are pursuing development rather than just working for a wage in their most recent survey. Does this organisation recognise my strengths and my contribution? is the inquiry they ask before joining a company. Perform I have the opportunity to do what I do best every day at this company?
To learn and grow
More learning and growth opportunities are stressed by millennial managers, which is something that Generation Z employees value in a mentor. Managers and leaders must promote an inclusive culture that values Millennial employees and what they bring to the table in order to win their loyalty. As a significant portion of an organisation, millennials demand a diverse, inclusive workplace with an energising atmosphere.
While we have previously talked about how important corporate culture is to millennials, it’s crucial to keep in mind that their beliefs are just as significant. Millennials are the first generation that have incorporated that thinking into their workplace because they are the generation who acquired them. In the workplace, millennials are consumers, and they are prepared to investigate and apply for jobs at other businesses. As millennials begin to hold senior positions, they bring a distinct perspective to how firms run and handle their personnel.
As the 21st century progresses, Millennials are fundamentally altering the way we work. Millennial managers will set the standard for future generations on what they may expect in the workplace, in their careers, and from their firms management.