How to Develop Millennials into Our Future Leaders

two young women in a library

Dedicated to promoting the unique talent and mindset of our millennials, this series has covered transforming the “challenges” of millennials into opportunities and embracing the exceptional character this generation offers. By capitalizing on transformation and adaptability, our contemporary organizations can continue to thrive and stimulate our national economy.

Status Quo vs. Proactive Strategic Endeavors

A proactive approach to business means staying one step ahead of your competition, and today’s industry is more competitive and more disruptive than ever. A cultural and technological shift is happening right in front of us, and it is time to listen to our millennials’ needs and desires, as they are our future organizational leaders. It’s time to invite more flexibility.

This shift doesn’t mean we need to change our entire operations to meet their needs, but it is critical we offer our millennials ample room for growth if we are to stay competitive in our respective spaces. If we are going to ensure we don’t get stuck in the status quo, we need to ensure our millennials are a core part of our strategy.

We have our finger on the pulse; we know our Key Performance Indicators (KPIs), and we are confident our staff is well aware of our organization’s best practices. We also know that if we opt for the comfort of the status quo, our company’s success will eventually take a hit. In today’s business landscape, a strategic stance must involve millennials.

It’s not uncommon for organizational leaders to stick to time-honored operations, workforce policies, and knowledge management practices. Yet, sometimes we need to ask ourselves if conventional practices are in our company’s best interest, strategically speaking. Reflect on the reality of your organization’s future and consider from a strategic viewpoint: can your company’s corporate culture and strategic position in the marketplace benefit from more flexibility and innovation?

Facing the Threat & Leading into the Future

The excuse that millennials present new challenges to doing business does not suffice when every generation comes with its own set of challenges. It would be wiser to focus on the issue that poses a greater threat: no organization in America is exempt from the reality that when baby boomers fully retire, there won’t be enough Generation X employees to fill the gap. Millennials are an untapped resource and the solution to our workforce threat.

6 Benefits of Investing in Millennial Employees

Millennials are our future. It is in our best interest to mold them into upcoming leaders which means that it’s high time we revise, if necessary, our company’s culture. Grooming our millennials into leaders now should be part of our organizational strategy. Consider the future of your company and reflect on the following benefits of empowering millennials:

  1. They are socially responsible leaders; leaders who value conscious capitalism
  2. They possess an innate interest in improving our world, our communities, and our day-to-day experiences
  3. They truly know the benefit of advanced technology and are committed to using and continuously updating technological advancements for the betterment of the company
  4. They’re interested in consistent feedback and value workplace relationships (i.e. when trust is strong, customers feel it and the bottom line proves it)
  5. They value optimizing efficiency and know how to implement it
  6. They understand the value of effective practices and assume nothing less

As leaders, it’s time we learn the language of our millennials and embrace this shift in our contemporary business landscape. It’s time to invite solutions that improve our future by capitalizing on the gift our millennials bring to the workforce.

 

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Written by Dr. Jennifer Beaman, faculty member in the Forbes School of Business & Technology™

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