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Understanding the millennial employee A change in company culture is imperative to get the best out of a new wave of young employees. Abhijit Nimgaonkar, ZS Associates 36 INDIAN MANAGEMENT NOVEMBER 2015
Cover story Over the past few years, workplaces have seen a new generation of workforce. Each time this happens, the workplace has to reshape itself and adjust its practices to ensure a sync between both the sides. As more of them enter the industry—at ages younger than ever and at positions usually given only to stalwarts, many experienced employees look at them with scepticism. Why millennials matter Millennials probably have the most complicated tale to tell as compared to their predecessors. The global economy is fragile and often teetering on the edge of recession. The job market has become extremely competitive, resulting in even highly qualified individuals working in under-qualified roles. However, this new wave of employees has a lot more to offer. And by 2030, they will account for 75% of the workforce. Because of the role of technology in this fastpaced era, the younger generation has taken on the part of advisor to the older generation. This is a reason for the shift in perspective with regard to authority, hierarchy, and respect. Millennials do not perceive hierarchy or ‘authority’ in the same manner as other generations. This generation does not require the benefits hierarchy has to offer, and comes with clear priorities and timelines. As per a study on millennial preparedness for the workplace, published by Bentley University early this year, 70% of those who fall in the older generation group think millennials are reluctant to ‘pay their dues’. Interestingly, 9 out of 10 millennials think they come with a strong work ethic, which conflicts with the older school of thought. The new school of thought propagated by millennials commands respect for knowledge and righteousness, irrespective of the hierarchical ‘level’. Millennials also possess much positive energy, intelligence, and immense capacity to learn. Also, they are typically more tech-savvy than their older counterparts. Thus, they can be a valuable addition to almost any work environment. Millennials focus more on building relationships at the workplace, which enables them to thrive within team-driven work environments. They are constantly striving to make work activities simpler, more social, and interactive by using technology. They are also open to constructive feedback and I NDIAN MANAGEMENT NOVEMBER 2015 37
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Book extract “Everyone agreed tha
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