Millennials will drive the future of businesses as leaders. The importance of developing millennial leaders lies in the fact that they will be soon filling every leadership role at every U.S business. Millennials will make up 75 percent of the workforce by 2025.Despite these facts, in most organizations, the leadership development of millennials still isn’t considered a priority.
Are millennials themselves aware of the need to be mentored by professional millennial leadership development coaches? Are organizations aware of the need to invest in developing this group of leaders? The White House Study on the Millennial Generation states that investments in human capital are likely to have a substantial payoff.
With human capital as the primary differentiator for growth, performance management and professional development for the most promising employees can have a huge impact on the bottom line of an organization.
The be successful, organizations must be prepared to have the highest performing individuals from the millennial generation leading their team into the future.
Millennials possess natural leadership qualities but they need mentors and professional millennial leadership development programs in order to learn how to utilize them to the maximum potential. The challenges faced by millennials in the workplace are huge. They will be soon filling every leadership role and yet, according to the 2016 Deloitte Millennial Survey of nearly 7,700 millennials in 29 countries, 63% say that their leadership skills are not being fully developed. Learning and development opportunities are one of the top things Millennials are looking for in the workplace. In fact one the biggest issues for millennials is finding a workplace that provides enough development opportunities that will allow them to grow and improve their professional performance.
Millennials offer unique leadership skills but in order to be EFFECTIVE leaders there are several areas in which they need to receive guidance from professional mentors and coaches. The important leadership skills to develop in Millennials are:
- PATIENCE and ACCOUNTABILITY
- FACE-TO-FACE COMMUNICATION
- INTERPERSONAL ABILITIES
- TEAM BUILDING SKILLS
- STRATEGIC THINKING
- HIRING THE RIGHT PEOPLE
Millennial leaders need coaching to help them reach their goals and provide long-term value to their organization.
Providing adequate leadership development for Millennials gives them the tools they need to improve their satisfaction at work and provide significant value to their organization.Investing in your self is always a good move. Click To Tweet
A mentor can help Millennials align their unique skills and interests with their professional goals, and the goals of their organization, which improves long-term engagement.
Companies that offer their Millennial employees the ability to grow within their organization are more likely to increase employee retention and prevent job-hopping. 2016 Deloitte Millennial Survey found that those Millennials intending to stay with their organization for more than five years are twice as likely to have a mentor (68%), than not (32%).
Millennials possess truly unique skills and an abundance of innovative ideas. They are nimble, collaborative, goals-driven, highly educated, tech-savvy doers, focused on developing themselves while always striving to achieve more. Their skills and attitude are crucial for businesses trying to stay competitive in today’s rapidly changing, technology-driven world.
Millennials are our next generation of revenue-generators so it’s critical that every business owner and manager works towards attracting and retaining the right millennial talent.
Given the fact that the Millennial population in the workforce is increasing rapidly, leadership development and training for millennials is a critical practice needed to be implemented in order to improve employee engagement which will in turn ensure an organization’s long-term survival and competitiveness.
Developing millennial leaders will be not effective unless organizations create an environment that will improve employee engagement and retention rates. Millennials are facing a range of challenges at work and before developing millennials into GREAT leaders there are several problems that need to be addressed by the organizations.
So, what are the problems Millennials are facing in the workplace?
Among the problems Millennials face are disengagement at work which leads to low retention rates, work dissatisfaction, on-the-job depression, and personal lack of motivation or sense of fulfillment. The oldest of our Millennial friends (late 20’s-early 30’s) have now reached management age and they’re leaving (or plan to leave) their present employers at astonishing rates.
Millennial leadership development programs and Millennial Leadership Development mentors will empower the next generation of business leaders to grow and excel both as employees and as leaders. Learning and development opportunities will play a key role in retaining Millennials and developing successful Millennial leaders that will generate significant business results for any organization.