Millennials now make up a large percentage of today’s workforce, making this group key to achieving business success and growth.
They are driving a workplace revolution as we are witnessing the emergence of a new working culture and ethic. Apart from constantly associating them with avocado and selfies, conventional wisdom has it that millennials are the “Me Me Me generation”, entitled, and unlikely to stay in any job for long.
However, they are simply misunderstood because their values are different to those of older generations; instead of simply focusing on the typical “work/life” balance, millennials want to create a life they love to live – all the time.
As they are starting to take over the workplace it is time to embrace this next generation and value the innovations that they contribute to the business world.
What are some key lessons we can learn from millennials?
Embrace change, innovation and the unfamiliar
This applies particularly to entrepreneurs. Disruption is the new innovation.
Be conscious of the changes that are happening or forthcoming in the industry and adapt to shifts in the market. Be commercially aware, read publications and news to stay up-to-date. Being too slow in embracing change can ruin your business; in fact being the innovator is the ideal.
Know your company’s direction and strategy
Having a clear mission statement can make your company’s direction transparent and will help build a common purpose amongst employees.
Quest for meaningful work that feeds your spirit
From the start of their working years, millennials have placed a high value on having a job that is important and meaningful. This type of mindset can inspire you to find purpose in your job.
Always look for positives in a negative situation
In order to succeed in business, your company’s culture should revolve around looking for a positive in negative situations, and focusing on what can be learned. See failure as an opportunity to learn.
Give back to the world
What you do should make the world a better place. Apart from building a career, millennials consider giving back to their community extremely important. For them, contributing to a good cause can lead to a sense of empowerment.
Incorporating elements of social entrepreneurship in business models can add purpose to the work. Investing in corporate social responsibility by partnering with charities is a way to improve our world.
Disrupt the status quo
76% of millennials believe their boss can learn from them about how to get the job done. Perhaps this is why 46% of them want to start their own business instead of having a boss. Challenging the establishment is essential for entrepreneurs that want to make an impact.
Millennials are driven by passion and a need for purpose. They question the conventional way of doing things and are redefining work.
Baby Boomers like to think of themselves as mentors for the millennials, however, it turns out that there is a lot they can learn from them. Organisations have already leveraged millennials’ knowledge through reverse mentoring sessions, where they teach upper managers trends of social media, the internet, innovative management practices, and organisational culture.
Despite the above, millennials still have plenty to learn from earlier generations. An ideal organisational culture would enable employees of all levels to collaborate and learn from each other’s experiences.