Over recent years, the focus on generational change in the workforce has received a lot of airtime. Millennials are now the most populous generation in the workplace with the oldest members of their cohort now aged in their mid – even late thirties. Indeed, many are now managers themselves. It’s now millennials who are tasked with the age-old challenge of meeting business goals while juggling a workplace full of different generations.
By 2025, millennials will comprise 75% of the workforce
65% of millennial leaders feel unprepared for their leadership role
87% of companies say they don’t do an excellent job developing leaders at all levels
Most are willing to take on a leadership role, but many are not prepared
The youngest millennials are still only in the earliest days of their careers and research shows many of them are struggling. As a result, many organisations are finding that millennials at both ends of the spectrum are under pressure. Older millennials must find a way to step up their leadership to meet one of their biggest challenges: developing their generational successors.
The millennial management challenge
Millennials certainly want to lead. The question is whether they’re accessing the right training, or developing the right skills or emotional intelligence, to lead effectively. In one survey, the top two things millennials said their education did not prepare them for was managing others, and working with older people.
Organisations must act quickly to develop these young managers now so they grow into their next great c-suite executives. They need to identify high-potential millennials and start developing them for leadership as early as possible. Improving soft skills is a critical part of this, and will be particularly valuable as these new leaders seek to engage and develop younger millennials and graduates.
Date: March 2020