Millennials are widely known for choosing meaning over traditional, respectable pursuits such as money or career. They turn away from higher institutes of education and join skills like programming, as they are easier and faster to pick up while being compensated by strong labor market demand. They drop out of Harvard for starting something of their own.
Harvard Business Review says more than 75% millennials look for ‘People and Culture Fit’ while looking for a job. More than 70% look for career potential and work-life balance. Once joining the workforce, millennials opt for employers who combine purpose with socio-professional developments and economic opportunities. They are quick to upset seniors and guardians, yet they put forward a grand promise, as a digital populace and as entrepreneurial and multi-ethnic world citizens.
The idea of leadership relevant to today’s renewed business and market reality is one of cross-sector experience and collaboration. Named as tri-sector athletes by Harvard professor Joseph Nye, these individuals and organizations adroitly cross traditional spheres to translate and integrate institutional logics into private-public, government-civil and civil-private partnerships and solutions. The millennials with their inherent aptitude have the ideal attitudes to develop as tri-sector athletes.
Here is why-
Millennials Hold Absolute Majority in the Talent Pool
According to research conducted by JP Morgan in December 2015, younger consumers helped fuel a 2.35% increase in year-over-year spending in 15 U.S. metro areas. The millennial aspire for a purpose, shared principles, and collaborative teamwork. These characteristics will drive business productivity and quality performance. Accepting the absolute majority of millennials in the talent pool, companies and business leaders are looking for improved methods to make the most of what this generation has the potential to offer.
Millennials Look for Purpose in their Careers
Statistics say millennials are now the largest and most diverse generation in the world population. Community, family, ethics, and originality in work are of utmost importance to them.
Hence, they will reject leaders and politicians and policy makers, who are unable to value the consumer markets, which they grew up adoring. They will not support the markets that undermine the welfare they promised. They will oppose the employers, who do not live and lead by the ethics they attract talent with.
They Seek Authenticity from Leadership
They put to question whatever they are dished with and revere no established truth. They choose leadership that identifies an organization's challenges, limitations, and failures, a leadership that incorporates them to work together in seeking solutions to difficult problems thus impacting the triple bottom line or 3BL.
They do not Respect or Trust Authority or Institutions
Millennials will accept your organization’s employment offer, but you will never possess them. They will not remain in one space for a long period of time; they will journey across conventional borders to pursue the problems and ideas that connect them, shifting their identities from professionals to entrepreneurial to leaders as they grow.
Millennials are Ambassadors of a Company
They intuitively build up perceptions and create and promote their choices and decisions through an exchange of ideas and interactions with others.
The companies that become skilled at attracting, inspiring and influencing millennial flair and gift will have a fierce competitive advantage in the long run. They will see the limits of their firms challenged by the constant surge and interactions between politics, business and engaging purpose that already endows with the sanction to operate in most segments of the social order. Putting emphasis and compensating cross-sector practice and skills-building in millennial talent will see immense success in business. By doing this, business leaders will prepare influential ambassadors across the fabric of the society. Whether these ambassadors stay for a summer or for years, they will leave behind tangible results.