I’ve shared before that I think it’s time to stop shaming millennials. One of the reasons: They’re no longer all young 20-somethings just starting their careers. More millennials are stepping into management and leadership roles every day. In fact, The Hartford’s 2015 Millennial Leadership Survey found that 80 percent of millennials currently define themselves as leaders.
And, in my opinion, their ascent is going to be highly beneficial to the workplace — today and in the future. They bring different experiences, skills and mindsets to the workplace that are well suited to current business challenges and opportunities. Here are four ways that millennials differ as leaders, and my take on how millennial leadership will shape workplace dynamics for the better.
Buh-bye, annual review…and good riddance. Millennials are embracing the need to provide ongoing, constant feedback to employees of all generations. As leaders they provide more feedback because it’s what they’ve said they want as employees — one survey found that almost half of millennials crave weekly feedback.
Expect to see more on-the-spot coaching, especially in the form of apps that provide instant feedback. By moving the focus from backward-looking reviews to up-to-the-minute improvements, millennial managers will help their teams make micro-adjustments to enhance performance and results.
Much has been made of the Deloitte survey that revealed two-thirds of millennials expect to leave their current job by 2020, but it is has significant implications for millennials as leaders. Accustomed to change, they are likely to be more adaptable to shifting team members, and will find it easier to manage employees who work remotely or those who join the team to perform one specific strategic task on a contract basis and then move on.
Millennial leaders are likely to move too, contributing to the concept of a professional trajectory as a lattice rather than a ladder. As they move from one company or department to another, they will bring with them their best practices and fresh ideas, shaking up the status quo that can occasionally plague companies with long-tenured employees.
MORE WORK/LIFE INTEGRATION
In a 2015 EY study, 35 percent of millennial leaders said that managing work-life balance is more challenging in their current role. But that doesn’t mean that they’re shrugging their shoulders and giving in — they’re doing something about it, and that is contributing to the rise of better work/life blend for all.
Since technology infuses nearly everything millennials do, tech is a driving force in their hunt for better work/life integration. They book reservations online at work and answer work email from the comfort of their couch at night. I expect that millennial managers will increasingly jettison the concept of “face time” to focus exclusively on output. This will benefit all generations of workers.
MORE FOCUS ON MISSION
People and profits will continue as a critical theme in how millennials manage. A whopping 90 percent of millennials say they want to use their skills for good, and 77 percent say culture is as important as salary or benefits, according to a survey by Virgin Pulse.
Fortunately, a culture of purpose and one of profits are not mutually exclusive. A Deloitte survey found that 91 percent of respondents who said their company had a strong sense of purpose had a history of strong financial performance as well.
Millennials will be focused not only on doing good work, but doing good, period, and that will impact the company’s overall culture and goals, while still driving performance.
The best news about these shifts? In my opinion, millennials are taking action on outdated workplace issues that have begged to be addressed for decades. They are starting the ball rolling — and all generations will score.