Millennials will be the dominant generation in 2019 and are already promoting significant change in business, economy and society. If on the one hand they influence through the way they buy or sell - which forces companies to redefine their strategy - on the other they use technology in all aspects of their lives, requiring greater speed and flexibility in order to meet their requirements .
"If there is no capacity and level of commitment in companies to understand the specificity of millennials, [...] their ability to respond to different needs will be compromised, translating into a skill gap."
Marinela Cunha Roll | Business Development Director
With a large proportion of the millennials entering the labor market, or already active in this market, we found that most companies were not able to anticipate the new challenges, and are not currently prepared to captivate, integrate, develop and ensure that keeps engaged. And the first millennials, now over 30 years old, are already reaching the top and taking leadership positions, driving significant changes in the corporate ecosystem.
What are the biggest challenges facing us?
This generation is the one with the most training, the one that tries to be more involved in the decisions, the one that wants to take on leadership functions quickly, wants more flexibility and more freedom to learn and to develop, a generation that wants to make its own choices. And above all, a generation that is not willing to wait. Being very confident and open to change, it wants to contribute positively to the results and ensure the benefits associated with its development, looking for agility in the reaction to change. For these reasons, companies have to find another way of dealing with the millennials, more appropriate and targeted to this "target" and therefore also more effective in meeting the way this generation intends to be in Life and get involved in the Society.
Being millennials a generation with various types of interests, sometimes even contradictory or temporary, present themselves today as a true Marketing Enigma. More than any other generation, it wants to be authentic in the form of affirming itself from the personal and / or professional point of view ... in line with what Oscar Wilde said: "We have to be authentic because being others is a place that already are you busy"!
Among the major challenges, the first one begins in recruiting, through the way companies manage to captivate and ensure the creation of positive experiences at work. This challenge remains in the pre-integration and future management phases of their careers, assuming that we must be able to help millennials take ownership of their future, ensuring high levels of satisfaction and loyalty.
Millennials have gone from collaborators to entrepreneurs and leaders, forcing companies to rethink their talent management and retention models. After all, the emotional benefits are greatly valued by this generation. As complementary challenges, companies are developing solid and diversified training programs, betting on coaching and mentoring, and implementing a culture of pragmatism with the flexibility to incorporate the individual goals of each employee.
The adaptation also involves the creation of "Engaging Experiences" that work and represent "... a two way Challenge", taking into account the current multi-generational structures. We are facing a clear cultural transformation, in which each has a catalyzing role in this process, according to his vision, skills, experience and life expectancy, recognizing that the multiple generations are guided by different goals and aspirations. It's not about changing the millennials, it's about working on the development of the current leaders so that they themselves are creative in building a relationship that works both ways. And it is in these generational differences that the answers are found, since we can not think of solving current issues using the same form of thinking that was the basis of their creation.
If there is no capacity and level of commitment in companies to understand the specificity of the millennials, as well as that of each of the five different generations that today collaborate in the same labor market, their ability to respond to different needs will be compromised in a skill gap.
This aspect will make it difficult to align with the millennials' mindset, so that we are not able to realize its full potential ... and this is still partly unveiled.
And, knowing that millennials, or work with ... or work for others and that they achieve everything on the hour, less professional satisfaction ... we ask:
Have you hugged a millennial today? They're waiting.
Marinela Cunha Rolo | Business Development Director