The opinions expressed by Entrepreneur authors are their very own.
My parents were born in 1947. For 35 years they went to the same buildings and worked in exactly the same positions. My mother was a highschool math teacher and my father was an investment advisor. They didn’t require much, and their story is nothing unusual. They were a part of an entire generation that valued job stability and loyalty, but these values are now a thing of the past. Today’s workforce is made up primarily of millennials (ages 28 to 43). As the last of the boomers retire and Generation X ages, it is imperative that millennials are prepared to take on leadership responsibilities in organizations.
This requires us to think otherwise. Millennials want completely various things than their predecessors, and what’s more, they are willing to change jobs to find one. A recent Gallup study shows the following statistics: Millennials are a generation probably he’ll change his job; 60% of millennials are now open to latest job opportunities; and Millennials are the least engaged generation in the workplace. The US Bureau of Labor Statistics indicates that average millennial aged 18 to 34 held 8.6 job positions. Moreover, research shows that younger generations are not interested in taking on leadership roles. Over the next decade or two, there could also be a shortage of emerging leaders willing to take on leadership responsibilities for a minimal paycheck.
If successful organizations want to maintain their success, they have to strive to understand what Millennials really need and create compelling leadership opportunities that match those demands – otherwise there could also be a leadership shortage in the years to come. Here are some ways they will do this.
The remainder of this article is locked.
Join the Entrepreneur+ today to gain access.