The millennial generation is one that has a completely different mindset. Organisations must respond to their dreams and aspirations. Embracing change and transforming policies to suit the millennials is the way forward
India, as a nation, is set to experience a dynamic transition. At a time when leading economies like Europe, the US, South Korea and Japan are ageing, India, with an average age of 29 years per person, will become the world’s youngest country by 2020. This in turn presents a massive opportunity for economic growth as more and more young people enter the work force.
According to a recent report by EY, India’s working age population will rise to 869 million by 2020 which is humungous when compared to the entire US labour force at 160 million, representing 28 per cent of the world’s work force. These young workers, also known as millennials, come with their own peculiarities and pose a challenge for organisations worldwide.
For generation as a whole that would make about 50 per cent of the work force in the world in the next decade, the employers often have negative assertions like laziness, high expectations, not sticking to the rules, indifferent behaviour and so on, showing their complicated relationship with work.
The question arises is: Can their behaviour, that is often mistaken as laziness or indifference, well be due to dissatisfaction with their workplace since they have distinct ideas about what to expect from their jobsIJ If yes, then what steps should companies take to hire, engage and retain this newest adult generation and manage their expectations to create high performing organisationsIJ
According to Carolyn Martin, co-author of Managing the Generation Mix, “Millennial employees feel entitled to a raise and promotion in a week, that corner office in six.” Expecting too much and too fast has become the norm for younger employees. They expect to move up the ladder quickly and are not shy of wanting someone else’s job, which is a difficult attitude to accept for older employees who grew up valuing seniority.
The reason for unrealistic expectations about career progression is that they are looking for challenges in their job profile and an able management should help them understand what challenges can be handled by them at their level.
From the management point-of-view, a promotion too soon may also be dangerous for organisations as this ‘leapfrogging’ phenomenon can create a situation where young employees may rise up to a management position without having sufficient experience. Since millennials have high expectations of their jobs and advancement, it is imperative of the management to set realistic goals and make it clear, on the one hand that a tough apprenticeship and training is to be expected. On the other hand, they should demonstrate that employees accepting and completing it successfully will be rewarded and promoted. Organisations need to provide coaching sessions to discuss career paths and share with the millennials the skills and experience required to be considered for promotion, showing them ways to acquire them through experience and suitable training. Feedback loop has to be considerably shortened with atleast quarterly reviews.
Technology plays a very important part in the lives of millennials which is also reflected in the workplace and this is the major difference between them and the older generation. More than 85 per cent of the millennials own smartphones and use them up to 45 times a day. Technology has increased mobility of this generation and reduced their intent to sit at one place and learn.
They want access to training materials as well as regular work on their mobile devices so they can access things on the go. Therefore, change is inevitable in the way organisations need to communicate and train their employees. Face-to-face communication has given way to text messages, tweets, instant messaging and other social media platforms as the newest ways of internal communication.
Constant connectivity due to technology has also changed the perception of younger employees towards a regular ‘9 to 5’ work timings. Seventy seven per cent of the millennials feel they can be more productive with flexible schedules and 84 per cent are ‘always connected’ and continue to check their work email after leaving for the day.
They want to work at their own pace and want a blended work/life balance, and often use technology to get it. This may conflict with traditional employers who measure job performance by how many hours are spent in the office.
For attracting and keeping the best millennial workers, organisations need to re-think their policies and should be willing to try new approaches to get the results needed. Flexibility, on their part, increases commitment and dedication from the millennials as they feel that the organisation supports and understands their requirements.
Defining reasonable challenges with an open, clear and specific feedback system would keep most of the millennials excited and engaged in their jobs. Organisations should acknowledge that negative connotations about millennials expecting instant gratification has emerged from their need to know answers.
This can be dealt by creating a career path moving on which they can learn new skills and eventually move up the ladder. As change is inevitable, the organisations need to understand and embrace change and transform their policies to suit the millennials, more so for Indian companies. After all, the millennials are here to stay and will only become more pronounced work force in years to come.
(The writer is the Group Vice Chancellor of Amity Universities)