Is your organization ready for the cultural shift in companies that the Millennial generation will cause over the next decade?
It is estimated that by 2020 Millennials will make up 50% of the workforce in the U.S., and by 2030 they will make up 75% of the Global workforce. The sheer size of this generation will make a huge impact on the beliefs, attitudes and behaviors that will dominate American life and work for the next several generations. Companies will have to re-think many areas of their businesses in order to be more effective with the Millennial workforce.
Who are Millennials?
- People who were born approximately between 1980 and 2000
- It is estimated that there are over 80 million people in this generation
- Over 40% of them are non-Caucasian (African American, Latin, Asian and Mixed) – this diversity is a stark contrast to 25% of Gen-X and only 10% in the Baby Boom generation
- They are accustomed to “just-in-time-learning” – what they feel they need to know as they want to know it
- Deeply desire places and spaces where they can collaborate together, contribute to making their peers, their companies, and their world a better place – adding their muscle to the collective workforce of the future
The Millennial generation has 38 million more people than Gen-X, and 17 million more than the Baby Boom generation. This creates an interesting Barbell distribution of the population:
Traditional Pathways No Longer Work
Corporations are feeling the impact this generation is already having on the workplace, both in retention and development of their organizations. The traditional pathways to advancement aren’t working, retention incentives that have been used successfully in the past are now failing, and the training and development models that were the staple of organizational success are falling short. Companies are rethinking and retooling their approach because of this.
Millennial Muscle – Peer Technology® Applied
The key to our future workforce will be “Developing Millennial Muscle”. Christy Uffelman introduced this conversation at Seton Hill University, the host of a 2014 TEDx event. On the cusp of the Millennial Generation herself, Christy fully identifies with Millennials and, through her experience and her own development, created a process that engages this generation effectively. A process we call PEER Technology®.
Through Align Leadership, she and her colleagues are implementing this process in companies across the country – from Fortune 500′s to family-owned businesses down the street – and continue to receive rave reviews both from Millennials and also from Gen-Xer’s and Boomers who are looking for meaningful (yet manageable) ways to transfer internal knowledge.
Christy speaks on this topic regularly and is currently in the process of writing a book called #MillennialMuscle@work: Engaging the Workforce of Today. Take a listen to her TED Talk where she outlines this Cohort process we call PEER Technology®.
Read Our PEER Technology™ Reviews »