The Power of Millennials: Busting the Myths
More than half of the world’s population is under the age of 25.
Born between 1978 and 2000, the Millennial Generation currently includes 95 million young people and by 2016, it will be 100 million strong.
By 2025, millennials will account for 75% of the global workforce.
They are sending shock waves throughout the world, and they aren’t going anywhere anytime soon.
But they are also labelled as narcissistic, addicted to technology, irresponsible, and unmotivated. They are the Peter Pan generation who can’t seem to grow up.
Stop right there.
The millennial generation is extremely diverse, technologically brilliant, has a strong sense of global connection, and it has the most progressive political orientation till date. They are the future of the workforce, so here are 5 reasons why you should hire millennials.
- They are progressive. While older generations often try to adhere to traditional structures, millennials discard this idea and instead advocate equality and cooperation. They are about networks, not hierarchy. They won’t stomach the ‘command and control’ environment, favouring managers who support their training and development. Millennials also push digital boundaries, and are more open to new process rather than being resistant to change. In today’s interconnected world, there’s no excuse to be left behind in the digital age, and millennials are definitely more tech savvy than their older counterparts.
- They enforce transparency in companies. Transparency is one of the top four qualities that millennials look for in leaders, and they have no patience for dishonesty. They want to work in an open culture without the barriers of hierarchy, where everyone knows what’s going on in the company. This attitude will push forward changes for the better in companies.
- They are conscious of social issues and community. They 30% of millennials say that meaningful work is important to them, compared to only 12% of managers. They want to know that their work has an impact, and won’t stay in a company if all they do is busy work. Contrary to the stereotype of narcissism, millennials are very interested in supporting their communities. They force corporations to ask ‘why’ instead of just focussing on the end results. In fact, 92% believe that business should be measured by more than just profit and should think about social considerations. They are also the most environmentally conscious generation, open to changes to ensure a better future.
- They are collaborative. Millennials like to work in teams, and are big on teamwork to accomplish goals. They use the newest technological tools to brainstorm and innovate, making collaboration more efficient. It’s definitely not that millennials are afraid to make choices for themselves, but that they are more likely to seek group consensus when making decisions. As we tackle increasingly complex issues, this attitude proves to be invaluable.
- They are open-minded and diverse. Not only are millennials more open-minded when it comes to differences, the workforce itself will become increasingly multi-cultured as globalisation stretches its arms to all corners of the globe. If you live in London, you witness first-hand the cultural melting pot that the city is. Moreover, studies show that diversity actually makes you smarter! It nudges you out of your comfort zone, provoking discussions that lower prejudices and broaden horizons. Diversity is a tough thing to achieve, but is extremely valuable, and millennials can help deliver it.
These are just 5 reasons why we need to hire millennials, and in any case, the statistics show that soon we’ll have no choice due to their sheer numbers! Rise To advocates this cause and works hard to ensure that young people can find the opportunities that they need. However, as Generation Y is growing up, a new era is dawning: Generation Z. They were born in 1995 and later, and are just starting to enter the workforce. They are not to be lumped with the previous generation, and have qualities and stereotypes of their own… so stay tuned!