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Next Generation Diversity: Grooming Millennial Leaders

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Next Generation Diversity: Grooming Millennial Leaders

  1. 1. theoriginalmillennial.com
  2. 2. The term ‘millennial’ applies to individuals who reached adulthood around or after the turn of the 21st century born between 1980 and 1995. Known as Generation Y, millennials directly follow Generation X as the last generation born in the 20th century. Today, there are 1.7 billion millennials making up one-third of the global population. They are defined as an “ethnically diverse generation who are team players, optimistic, confident, trusting of authority, rule-followers, achievers in school, and generally achievement-oriented in everything they undertake.” (Howe and Strauss, 1992)
  3. 3. According to U.S. Census Bureau statistics, there are more than 80 million millennials in America. Millennials are the largest generation in history. Millennials will make up an estimated 75% of the workforce by 2025, ultimately changing the face of organizational leadership. theoriginalmillennial.com
  4. 4. Organizational leaders are becoming increasingly concerned that they soon will be unable to find the talent they need to succeed, with a shortage of suitably skilled workers as the single biggest worry.   Businesses are competing fiercely for the best available talent to replace the retiring boomers in the upcoming years. Every year, more and more of that talent will be recruited from the ranks of millennials.
  5. 5. Building leaders from the millennial generation can no longer be a delayed strategy for decision-makers in the workplace.   Reason 1: Millennials are critical to organizational success and sustainability Reason 2: Millennials can quickly learn the ropes then come for the boss’s job Reason 3: Millennials have options. We can decide we don’t want to work for someone Reason 4: Without millennials, organizations will start to wane. Why millennials matter theoriginalmillennial.com
  6. 6. ibm.biz/MillennialMyths
  7. 7. ibm.biz/MillennialMyths
  8. 8. ibm.biz/MillennialMyths
  9. 9. A culture shift in the population shows that 60% classifying as non-Hispanic white in comparison to 70% of the previous generation. Of millennials in the US, 59% are white and 27% have immigrant backgrounds. The ethnic profile of the millennial is far more blended that than of previous generations. There are millennials who come from an increased percentage of single-parent homes, blended families, and families with same-sex parents than ever before. Millennials Are Leading a Cultural Shift theoriginalmillennial.com
  10. 10. Millennials Need Expression and Acceptance Millennials are much more concerned about diversity of thoughts, ideas and philosophies with an unending curiosity to understand differences and explore opportunities for collaboration.   There is a growing segment of millennials who are refusing to check our identities at the door while many organizations are remaining unchanged in their response to our need for expression and acceptance.   This means organizations are forced to rethink and redefine their approach. The millennial generation has compelled organizations to consider a combination of unique traits to overcome challenges and achieve business goals as the diversity of experience and the inclusion of thought become increasingly more crucial to future innovation. theoriginalmillennial.com
  11. 11. As millennials move into leadership, a transformation in traditional diversity and inclusion models will challenge past approaches and break barriers that have hindered the progress. Connectedness is part of the millennial’s DNA and breeds the kinds of transformation organizations of the future will command. The generation is a likely catalyst to show how advocacy, learning, and leadership can collectively leverage opportunities to see greater inclusion and innovation..   If making a commitment to diversity and inclusion truly means allowing an individual to bring his/her true and whole self to work, organizations must ensure millennials can work in a collaborative environment that shows how they can have positive impact on business outcomes. Millennials Command Inclusion and Innovation theoriginalmillennial.com
  12. 12. Generation Z / Digital Natives (born after 1994)   Born during minor fertility boom around US Global Financial Crisis The children of Generation X Who’s Next? AT WORK •Very collaborative and creative •Will have to solve the worst environmental, social and economic problems in history •Will not be team players •Will be more self-directed •Will process information at lightning speed •Will be smarter CHARACTERISTICS •Highly connected to communication • Instant gratification/thrive on acceleration •Independent, lacking a community- oriented nature due to social media • Very open with little concern to privacy and personal information. •Thrive on small bits of information. •Under a lot of pressure to succeed theoriginalmillennial.com
  13. 13. Mentoring, Coaching & Sponsoring A mentor helps navigate your career, providing guidance for career choices and decisions. The millennial drives the relationship. The mentor is reactive and responsive to needs and helps determine possible career paths to meet specific career goals. A sponsor is a senior leader who uses strong influence to help obtain high- visibility assignments, promotions, or jobs. The sponsor drives the relationship, advocating for the millennial in many settings, including behind closed doors. A sponsor advocates for advancement and champion a milennial’s work and potential with other senior leaders. A coach provides guidance for a millennial’s growth development, often focused on soft skills (e.g., active listening) rather than technical skills (e.g., financial acumen). The millennial and the coach are responsible for driving the relationship—both can reach out to to one another. A coach provides feedback for leadership development and career improvement, even in other areas. (Catalyst, 2014)
  14. 14. •  Active attention •  Transparency •  Relevancy for others •  Relevancy for oneself Best Approach to Leadership Development for Millennials •  Passion •  Accountable leadership •  Autonomy through flexibility •  Self-care as a reflection of organizational health theoriginalmillennial.com

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