Sunday, 22 October 2017

Myths about millenials in the workplace

Millenials are expected to dominate the global labour market in three years, so it is important to understand what makes this demographic tick. 

The Human Capital Institute (HCI) and the International Coach Federation (ICF) have uncovered many myths about millenials, born between 1983 and 1996.

“Myths that millennials require greater workplace recognition and guidance, and that they show less loyalty to the organizations to which they belong, have been largely debunked,” the HCI and ICF say in a recent report.

“Instead, evidence shows that millennials as a whole crave opportunities to explore career growth and develop their leadership skills — a desire that is best understood by career stage and age rather than being from a particular generation.

“While 54% of millennials desire additional technical training, 60% want training from their employer in leadership skills. Most likely because they are figuring out their career paths and refining their skill sets, they also have a preference for more frequent feedback from their manager compared to other age groups.”

Millenials don't want bosses – they want mentors, the researchers found. 

“The preferred management style is moving from command and control to a new style based on inclusion, involvement, and participation,” they reported.

The HCI/ICF findings regarding loyalty are in line with other studies.

Earlier this year Deloitte released a survey that showed a great number of millenials are looking for long-term employment. Fears around security and political turmoil had also made millenials more eager to seek professional stability.

Terror attacks in Europe, Brexit, and a divisive US presidential election seem to have shaken millennials' confidence, Deloitte said.

Globally, 54 percent said they felt empowered to contribute to charities and good
causes through workplace-backed initiatives.

“The survey’s findings suggest those given such opportunities show a greater level of loyalty to their employers. But, we are also seeing that purpose has benefits beyond retention. Those who have a chance to contribute are less pessimistic about their countries' general social/political situations, and have a more positive opinion of business behaviour,” said Tumelo Seaketso, talent strategies leader in Deloitte SA’s human capital practice.

Most millenials were not turned off by automation, though 40 percent feared that it may cost their jobs. A further 44 percent believed there would be less demand for their skills; a majority believed they would have to retrain; and 53 percent thought the workplace had become more impersonal and less human.

On the other hand, many respondents saw the upside of automation. They believed it created opportunities for value-added or creative activities and learning new skills.

The survey was conducted among nearly 8,000 millennials from 30 countries. 

-Content by TMTV

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