Millennials Will Inherit the Industry
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Transcript of Millennials Will Inherit the Industry
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Millennials Will Inherit the IndustrySMPS TME 2015
Panel Discussion Recap
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“ How are we going to deal with these Millennials!?”
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CONTENTS
1 The working world according to Millennials
2 What do Millennials need to thrive?
3 What can I do to mentor my younger team?
4 Final thought
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PART ONE
The working world according to Millennials
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The period of time
in which we are born
influences how we see
the world, approach
work, and understand
success.
Enter generation gaps.
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Two overarching differences in
expectations about the workplace
distinguish Millennials from the
generations that came before.
Examined closely, they can actually
bring the generations together.
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Distinction OneTime vs.Contribution
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Traditionalists, Boomers, and GenXers were taught:
Advancement comes from putting in your TIME
Advancement should come from making valuableCONTRIBUTIONS
Millennials believe:
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Do something valuable.
Be recognized for it.
Is this entitlement?
A better way to engage employeesof every generation?
OR
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Distinction Two Hierarchy vs.Network
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Traditionalists, Boomers, and GenXers were taught that businesses are:
HIERARCHIESof power built for incremental change and reliable results …perfect for the well-ordered econo-my of the past.
NETWORKS of resources built for quick reaction and versatiledevelopment… critical for the unpredictable economy of now.
Millennials believe businesses should be:
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HIERARCHY
limited access, top down control, title matters
NETWORK
open access, contextual accountability, contribution matters
Is status and structure as important as we’ve
made it out to be?
Is there another way to accelerate
the pace of getting things done?
OR
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PART TWO
What do Millennials need to thrive?
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Why should you pay attention?
Millennials will make up over
50% of the workforce by 2020.
50%
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Millennials on the panel and in the audience shared some things for their managers to consider.
“Challenge me”
“Give me room”
“Guide me”
“Listen to me”
SMPS TME 2015 Panel Discussion Recap
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Challenge me“
Provide an objective with little
structure and a crazy deadline
that I can run with.
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Give me roomLet me attempt to reach that
objective my own way.
“
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Guide me“
Check in regularly, but be open to
the new ways I have approached the
problem. Ask me questions, share
your wisdom, but don’t prescribe.
Let me fail and try again.
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Listen to meI want the opportunity to share my
ideas because I want the same thing
you want—our organization to be
successful.
“
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PART THREE
What can I do to mentor my younger team?
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We were lucky to have two pairs of
colleagues who worked together as employee
and manager. They shared what has allowed
their multi-generational team to not only
succeed, but to exceed expectations.
“Invite ideas”
“Push idea development”
“Share what you need”
“Be flexible”
SMPS TME 2015 Panel Discussion Recap
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Invite ideasAsk your Millennial colleagues how
they would tackle a challenge.
Or, let them evaluate how you’ve
done things in the past to see if they
have any suggestions.
“
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Push idea developmentIf they want to change “how things
get done around here,” push them
to develop the idea so that it
is justifiable, implementable, and
measurable.
“
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Share what you needDon’t be afraid to share with them
what you need in order to be successful
as well as what they need to do to be
successful. Millennials need to learn from
your experience.
“
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Be flexibleBe willing to entertain new and
unconventional ways of working,
such as flexible hours or freelance instead
of full-time. Be clear about expectations
then evaluate based on the results.
“
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FINAL THOUGHT
Let’s get past generational labels, their
associated assumptions, and the resulting
arguments about old ways vs new ways.
Let’s put our energy toward conversations
that productively engage our teams and
inspire them to deliver their best.