International Contemporary Analysis

Millennials in the Workplace

2017

Report Summary



Presented by:
Daniela Roca Chahin


Presented to:
Guillermo Forero


Date : 09/10/2017

Millennials in the Workplace: Issues and recommendations

People often ask, Are millennials that different?, the answer is yes. As Gallup
Chairman often say Millennials will change the world decisively more than any other
generation.
The generation Y is changing the very will of the world and they will soon radically
change the workplace.
Why does any of this matter? Because the strength of the marketplace andworkplace
depend on what the millennial generation can accomplish. As Organizations must
change their organizational cultures, here we provide some recommendations based
on three scenarios that involve the participation of Millennials in the workplace.

Employers: As an employer and entrepreneur you should considerthatthisgeneration

don't just work for a paycheck, millennials want a purposeandiftheydon'tfinditthey
will seemtobelessloyaltoyou-Asanemployer-andlessengagedintheworkplace.
Some leaders try to engage millennials by giving out entitlements to create job
satisfaction, but this is a leadership mistake.
We recommend that you -As an entrepreneur and main leader of your organization-
improve engagement by creating a reliable and meaningful communication, holding
daily or regular meetings is important for setting clear goals and expectations within
the team -which is also vital to high performance-. Constant feedback and
communication will definitely help you addressing the engagement issue by giving
millennial workers the purpose and development that they are constantly pursuing.

Employees: As an employee -that belongs to the largest and least understood
generation-, you are currently looking foraflexibleworkenvironmentthatemphasizes
teamwork and autonomy with opportunities for promotion and a competitive salary.
But truth must be told, only 31% of employers are focusing on transforming the
workplace and enhancing their human capital strategies. Does your organization give
you the chance to do what you do besteveryday?"Becauseforyou,ajobisnolonger
just a job it's you life as well.
Our main recommendation for you, is to communicate with your managers and let
them know what they canimprove,thiswillgiveyour organizationbetterinsightsinto
developing new team strategies and raising the overall level of performance of the
business. But you should also start to play a main role inthechangeyouareaskingfor
- by suggesting new ideas related to business, new training programs for
inexperienced employees, daily team meetings or proposing a new matrixed and
flexible team -. For successfully creating a brand-new corporate culture, employers
and managers need your help and creativity. New ideas might result in vital business
outcomes such as profitability and productivity.

Managers/leaders: The role of an old-style boss is command and control. Millennials

care about having managerswhocancoachthem,whovaluethemasbothpeopleand
employees, and who help them understand and build their strengths.
The principal issue while being the leader of an organization and having millennials in
your team is balancing the company's conditions and theemployeesexpectationsand
needs in a competitive and constantly changing international business environment.
We strongly recommend you to face this issue by setting a clear andsolidleadership
strategy. Creating excellence and sustainable high performance starts with employee
engagement, which we believe can be promoted by helping employees develop their
Millennials in the Workplace: Issues and recommendations

strengths, implementing technology in different processes and flexible hours, and also
creating a sense of community and friendship within the team. If the numbers of
engaged employees in your company can be doubled, the overall profitability can be
doubled too. It also could boom productivity and shape the future oftheorganization
in the global market.

Going beyond: The winning equation

Change is a constant matter ineverycompany,buttodayleadershavetogobeyond,it
is imperative to ensure that workers are fully engaged and by focusing on holistic
employee well-being, leaders can meettheneedsoftheiremployees,encouragethem
to stay and improve organizational performance.