Millennials & Reshaping The Workforce
Introduction
Experts predict that millennials makeup to 35% of the global Workforce and overtake the Workforce as the generation boomers and generation X are retiring (Lulla n.p.). The millennials have been reported to be the largest generation in the Workforce since 2016. Notably, generations can be determined by the birth year, maturity, location, and actual occurrences that impact their identity (Twenge et al. 1117). The Workforce in the US is anticipated to change dramatically in the subsequent five years, with the millennials accounting for most employees (Lulla n.p.). This paper will evaluate the reasons and the processes through which the millennial generation is reshaping the Workforce.
The millennium generation has been influenced by higher technology and greater acceptance of nontraditional values and families (Bannon, Ford & Meltzer 62). Millennials adapt quickly to new working conditions, such as technological innovation and electronic interactions, thanks to advancements in remote working (Twenge et al. 1126). On average, millennials approach management in a very different way than previous generations. As managers, these value-driven internet users rewrite the organizational rules around engagement, feedback, and team building (Bannon, Ford & Meltzer 64). In terms of performance reviews, millennial administrators shift away from the traditional annual performance evaluation in favor of periodic check-ins and project-based assessments.
Millennials & Reshaping The Workforce
Providing specific, actionable input to workers is a persistent challenge for managers of all ages. This is particularly true for millennials who manage Generation X. Weekly, or biweekly one-on-one meetings are preferred by millennials because they facilitate course corrections before workers fall short of performance goals (Jerome et al. 1). On the other hand, Generation X often expects authority leaders to gain their respect and have little patience for generic platitudes or idle chatter (Twenge et al. 1130). Therefore, there a probability of getting overwhelmed by the constant barrage of emails, slack alerts, instant messages, and automatic status updates. Millennial managers, like their workers, must strike a balance between continuous touch and uninterrupted focus time on big-picture tasks.
Millennial employees are characterized by extreme confidence, achievement-focused, team players, technology utilizers, and generally active workers (Bannon, Ford & Meltzer 65). They tend to gain experience over obtaining a degree. According to Millennials, to be assigned to higher positions in the business, one must demonstrate their expertise and experience and the length of time he/she has had them (DeVaney, 11). Millennials agree that the more experience an organization has, the more profitable it will be (Levenson 257). The situation has made it difficult for fresh graduates to acquire jobs as they are viewed to have no experience other than just the academic skills they gain from college.
Millennials & Reshaping The Workforce
Millennials have contributed to flexibility in the workplace. In an age where we can operate from any location at any time, the ability to create and manage virtual teams is crucial. Millennials, as digital natives, are accustomed to instant communication through a range of channels (DeVaney 11). They are comfortable using these interactive platforms for feedback, coaching, and project management and are adept at assembling teams across disparate geographies and time zones (DeVaney 13). Millennials embrace flexibility in the Workforce in that they can work from home and still make companies profitable.
In comparison to previous generations of managers, millennial managers are more likely to recruit remote workers and allow current employees to work from home (Bannon, Ford & Meltzer 62). This has mainly been demonstrated during the coronavirus pandemic. Various communication channels such as Zoom, Microsoft Teams, and Skype have been adopted using smartphones and laptops have allowed several companies to work remotely through virtual management.
Millennials & Reshaping The Workforce
Millennials have also altered the leadership style in the workplace. They are aware of the skeptical power dimensions and embrace leaders who embody the company’s mission (Andert 71). When they step in as leaders, Millennials portray respect, charisma, and kind listening. Notably, millennials prefer a collaborative and competitive work environment, unlike generation X and the baby boomers (Twenge et al. 1126). Growing up in a world of infinite knowledge, millennials understand that no single individual has all the answers, and they accept diversity within teams, including gender, ethnicity, and age. That is excellent news for companies. According to (Jerome et al. (1), diverse teams consistently outperform homogeneous groups on all dimensions of success, from creativity and efficiency to decision-making quality and organizational performance.
To millennials, legitimate authority must be gained, not presumed or bestowed upon them due to their age (Levenson 261). Millennials thrive and perform best under the leadership of outstanding executives who understand and contribute to the company’s mission and vision (Bannon, Ford & Meltzer 61). They define a successful leader as one who is receptive to criticism and considers their perspectives while making decisions (Andert 68). The impact of millennials has resulted in a rise in organizational empathy and transformational leadership in empowering employees to improve efficiency and ensure the organization’s sustainability. Apathetic management causes unnecessary tension that harms morale and increases attrition among Generation X, who are usually more concerned with completing their assigned project than whether the project sparks joy. When Millennials assume leadership roles, they behave like leaders who are admired, charismatic, and receptive (Andert 69). Additionally, millennials employ open communication in the workplace to avoid employees being blindfolded from change.
Millennials & Reshaping The Workforce
More than any previous generation, millennials desire to work for organizations representing their ideals (Levenson 261). The days of instantaneous response to a corporate strongman’s word in the workplace are over. The millennial generation no longer operates under policies dictated by the leader’s place of authority and title (Jerome et al. 1). This generation is highly suspicious of and conscious of power dynamics. As the lines between work and life begin to blur, millennials want meaning in their work. This necessitates a reconnection of duties or routine activities to more significant priorities and mission-driven work. According to Levenson (259), when a millennial’s ideals align with their job, it can result in an energizing, passionate engagement that motivates the entire team to new heights of success.
Millennials have been a dominant force behind embracing transparency in workplaces (Jerome et al. 1). They greatly value openness in the workplace. Millennials serve as a substantial segment of the Workforce, and their heightened calls for transparency from the executive have produced effective results (Travis & Price, 7). They want correspondence throughout the organizations they work for so that all individuals are kept knowledgeable. Millennials ensure that every employee is aware of the organization’s change and participates in the organization’s decision-making.
Millennials & Reshaping The Workforce
Conclusion
Millennials are reshaping the Workforce by leveraging their technology skills and the retiring age of the Baby Boomers, their desire to work in organizations that represent their values. Additionally, millennials’ value for experience over academic qualification is a significant reason why the generation is reshaping the Workforce. Millennials have embraced flexibility in their workstations by adopting interactive platforms for feedback, coaching, and project management to achieve the desired change. They have also increased demand for organizational transparency in decision-making and adopted a collaborative perspective over a competitive one within administrative teams. Millennial managers are reshaping the workplace in various ways, from the proliferation of remote units to instant performance feedback.
Works Cited
Andert, Darlene. “Alternating leadership as a proactive organizational intervention: Addressing the needs of the Baby Boomers, Generation Xers and Millennials.” Journal of Leadership, Accountability, and Ethics 8.4 (2011): 67-83.
Bannon, Shele, Kelly Ford, and Linda Meltzer. “Understanding millennials in the workplace.” The CPA Journal 81.11 (2011): 61-65
DeVaney, Sharon A. “Understanding the millennial generation.” Journal of financial service professionals 69.6 (2015): 11- 14.
Jerome, Alicia, et al. “Millennials in the workforce: Gen Y workplace strategies for the next century.” E-Journal of Social & Behavioral Research in Business 5.1 (2014): 1.
Levenson, Alec R. “Millennials and the world of work: An economist’s perspective.” Journal of Business and Psychology 25.2 (2010): 257-264.
Lulla, Aram. “The Millennial Managers Are Here: Four Ways Millennials Are Reshaping The Workplace (Again).” Forbes, 2019, https://www.forbes.com/sites/forbeshumanresourcescouncil/2019/12/03/the-millennial-managers-are-here-four-ways-millennials-are-reshaping-the-workplace-again/?sh=31649743e044.
Twenge, Jean M., et al. “Generational differences in work values: Leisure and extrinsic values increasing, social and intrinsic values decreasing.” Journal of management 36.5 (2010): 1117-1142.