The Four Success Factors of Millennial Leaders
May 18, 2016 12:33:31 PM
Relay races are won or lost, based on how well the baton was passed. In 2016, some 3.6 million Baby Boomers will retire, and metaphorically pass the baton to 25% of working millennials who are slated to become managers this year. How well the baton is passed will determine if a company falls behind, stays the course, or wins the race. What are the top four strategies that will bolster the odds of a smooth transition? Below are the four things that millennial leaders want and need to run a successful race.
Engagement surveys by Blessing White and recent research by PwC confirms that training and development is a priority for the millennial worker. Talent development is a game changer that attracts talent and accelerates readiness to move up the career ladder.
And speaking of career ladders, millennials want to move up and they want to do it two rungs at a time. This is great news to organizations who desperately need to accelerate the growth of high-potentials. Coach to a development and career plan that aligns an individual’s values, passion, and purpose…and then get out to the way!
Coaching and feedback
Coaching and frequent feedback goes way beyond developing a career plan. Bersin & Associates points out that millennials want frequent and consistent feedback and coaching, and not just when something goes wrong. On-target feedback positively reinforces desired behaviors, and increases the likelihood that those behaviors will be repeated.
Life balance and flexibility also get high marks in terms of importance from the millennial generation. Look for ways to reevaluate old ways of doing things and creatively seek out opportunities to flex. Engage the millennial leaders in finding a solution that emphasizes the end and not the means.
If you are interested in taking full advantage of your millennial leaders, check out Xponents’ Leadership Lab a 90-day leadership intensive program and learn how the Leadership Lab can help you and your team.