Millennials are Here to Stay

In 2015, Millennials will be the largest generation in the workforce according to a new report from the Bureau of Labor Statistics. Millennials already make up 28% of management and 2/3 see themselves in management within the next 10 years. Millennials are turning the page to a new chapter for the workforce and will take over as the majority leaders and will have the ability to make large decisions and have great impact.

So what do we know about Millennials? Let’s break this down into what non-Millennial hiring managers believe about Millennials vs. what Millennials actually believe about themselves.1471951_586401470518_4259087240555250497_n

In a recent survey…

Technology

What non-Millennial managers believe:

  • 82% believe that Millennials are more technically adept than prior generations

What Millennials believe:

  • 74% believe they can learn new things more quickly

Loyalty

What non-Millennial managers believe:

  • The majority (53%) report difficulty finding and retaining Millennial talent

What Millennials believe:

  • 79% say that would consider quitting their job and work for themselves in the future
  • A majority (52%) say corporate loyalty is outdated and a majority (58%) expect to stay in their job fewer than 3 years

The majority (80%) of hiring managers surveyed believe that Millennials are narcissistic, 65% believe Millennials are money-driven, and only 27% believe Millennials are team players. However, those same managers also feel that Millennials are more open to change (72%), creative (66%), and adaptable (60%).

The question isn’t whether there is a discrepancy on perspectives, but more so how we handle these differences and positively influence or channel the Millennials’ energy.

Gus is a Learning and Performance Professional at the Ken Blanchard Companies and is currently finishing his PhD in I/O Psychology. He can be reached at gus.jaramillo@kenblanchard.com

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