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Connecting with the new generation of leaders-The Millennials

As statistics go, they’re not always absolute.  That being said, census data and best scientific calculations show that as of December, 2014 there is a current population in the United States of 319,448,985 people.  About 1/3 of those fall into the category popularly dubbed “Millennials”.

According to Wikipedia.org, Millennials (also known as the Millennial Generation or Generation Y) are the demographic cohort following Generation X.  There are no precise dates when the generation starts and ends. Researchers and commentators use birth years ranging from the early 1980s to the early 2000s.

There is perhaps, no other generation in time that has captured the attention and study of so many, from marketeers to psychologists and sociologists.  No matter who you are, where you live or what you do, you will have interaction with this ever-influential group of people.  Hey, you may in fact be a millennial!

This post brings to the forefront, some matters of consideration for how we may, as concerned citizens and patriotic Americans, be more mindful of and communicate better with, our future leaders.

Ryan Jenkins, well known professional speaker and next generation specialist records:

27 STUNNING MILLENNIAL STATS ABOUT OUR FUTURE EMPLOYEES, LEADERS, CONSUMERS, AND PARENTS

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The Millennial Employee

  • 74% of Millennials surveyed said confidence in their leadership was a key driver of engagement. (Culture Amp)
  • 73% of Millennials expect to be able to modify and customize their work computer; 63% will go around IT to find the solutions they need. (Mobile Enterprise)
  • 70% of Millennials admit to bringing their own apps—even against corporate policy—in order to work. (TrackVia)
  • 87% of Millennials say they would choose to work for a video-enabled organization over a company that has not invested in video. (Cisco)
  • 31% of Millennials say working with creatively-minded colleagues was important to them.
  • 33% of Millennials would choose social media freedom & device flexibility over a higher salary. (Cisco)
  • On average Millennials are connected to 16 coworkers on Facebook. (Millennial Branding)
  • 84% of Millennials say making a difference in the world is more important than professional recognition. (Bentley University’s Center For Women And Business)
  • 69% of Millennials believe office attendance is unnecessary on a regular basis. (Cisco)
  • 71% of Millennials don’t always obey social media policy at work. [Cisco]
  • 77% of Millennials said it was important for them to attend frequent face-to-face meetings, 10% more than Gen X candidates. (MarketWatch)

The Millennial Leader

  • 15% of Millennials are already in management positions. (PayScale)
  • 60% of Millennials recognize their current position as a mere stepping-stone. (Time)
  • Nearly 40% of Millennials surveyed believed that they should be promoted every 2 years. (Time)
  • 92% of Millennials believe businesses should be measured by more than their profits. (Deloitte)

 The Millennial Entrepreneur

  • 50% of bloggers are Millennials. (Nielsen)
  • 35% of employed Millennials have started their own business on the side to supplement their income. (Iconoculture)

 The Millennial Consumer

  • 78% of Millennials would rather spend money on a desirable experience than buy coveted goods. (Harris/Eventbrite)
  • 95% of Millennials say that friends are the most credible source of product information. (Social Chorus)
  • 54% of Millennials said they would prefer to pay for purchases using their smartphone as a mobile wallet instead of credit cards. (Ypulse)
  • 88% of Millennials have or would deposit a check by snapping a picture of it and 45% would want to pay bills the same way. (USA Today)

 The Millennial Parent

  • 40% of Millennials are already parents & in the next 10-15 years, 80% of them will be parents. (Advertising Age)
  • 83% of new moms are Millennials and three-quarters of these digital natives report searching for parenting advice on their mobile devices. (Baby Center)
  • 86% of Millennials are trying to or will try to avoid being a “helicopter parent.” (Ypulse)
  • 61% of Millennial moms are in the workforce. (Millennial Marketing)
  • 50% of Millennial parents say they try to buy products that support causes or charities. (Millennial Marketing)
  • 52% of Millennials say being a good parent is one of the most important things to them. (Pew Research Center)

According to Deloitte, Millennials have big demands and high expectations.

Deloitte’s third annual Millennial Survey explored what Generation Y wants from Business, Government, and the future workplace. The results revealed that Generation Y wants to work for organizations that foster innovative thinking, develop their skills, and make a positive contribution to society. Join the conversation at #DeloitteDavosLive and #MillennialSurvey.

Deloitte surveyed nearly 7,800 Millennials from 28 countries across Western Europe, North America, Latin America, BRICS (Brazil, Russia, India, China, South Africa) and Asia-Pacific about business, government and innovation. The questionnaire focused on the role business plays in society; its objectives, impact and outcomes; the responsibility of business and government and how well each is addressing the challenges faced by society; the potential impact of new technologies and innovation; and how businesses help people to bring out new ideas and develop their leadership skills.

Across the globe 70 percent of tomorrow’s future leaders might ‘reject’ what business as traditionally organized has to offer, preferring to work independently through digital means in the future.  This and other findings in Deloitte’s annual study of Generation Y point to significant challenges facing business leaders if they are to meet the expectations of the Millennial generation.  Other key findings from the survey include:

  • Business could achieve more. While most Millennials (74 percent) believe business is having a positive impact on society by generating jobs (48 percent) and increasing prosperity (71 percent), they think business can do much more to address society’s challenges in the areas of most concern: resource scarcity (68 percent), climate change (65 percent) and income equality (64 percent). Additionally, 50 percent of Millennials surveyed want to work for a business with ethical practices.
  • Government is not doing enough. Millennials say government has the greatest potential to address society’s biggest issues but are overwhelmingly failing to do so. Almost half feel governments are having a negative impact on areas identified as among the top challenges: unemployment (47 percent), resource scarcity (43 percent), and income inequality (56 percent). 
  • Organizations must foster innovative thinking. Millennials want to work for organizations that support innovation. In fact, 78 percent of Millennials are influenced by how innovative a company is when deciding if they want to work there, but most say their current employer does not greatly encourage them to think creatively.  They believe the biggest barriers to innovation are management attitude (63 percent), operational structures and procedures (61 percent), and employee skills, attitudes, and (lack of) diversity (39 percent).
  • Organizations must nurture emerging leaders. Over one in four Millennials are ‘asking for a chance’ to show their leadership skills. Additionally, 75 percent believe their organizations could do more to develop future leaders. 
  • Millennials are eager to make a difference.  Millennials believe the success of a business should be measured in terms of more than just its financial performance, with a focus on improving society among the most important things it should seek to achieve. Millennials are also charitable and keen to participate in ‘public life’: 63 percent of Millennials donate to charities, 43 percent actively volunteer or are a member of a community organization, and 52 percent have signed petitions.

WATCH THE DELOITTE VIDEO

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As patriotic Bold Americans, it behooves us all to be more mindful of this influential group of our society and to engage with them in a meaningful dialogue about the challenges and opportunities before us as individuals, families, businesses and a nation of people who love freedom and its blessings.  After all, the Millennials are the upcoming leaders of our great country!

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