Doesn’t that manager look a little young?
If you’ve asked yourself or someone else that question recently, you may have good reason.
In many organizations, people are moving into management and leadership roles earlier than ever in their careers.
There’s a good reason why this is happening. Demographically, Millennials became the largest generational cohort in the U.S. workplace in March 2015.
At the same time, changes among previous generations in the workplace are opening up new opportunities for Millennials.
For example, baby Boomers are retiring at the rate of 10,000 per day, and Generation X — the group currently in their forties and fifties — are too small a generation to fill all the leadership slots opening up as Boomers retire.
What is a “Millennial”?
Demographers don’t always agree on the exact definition of the generational cohort called “Millennials. But in general, they are people born between 1981-2000.
Other generations are also defined as being born during a roughly 20-year period:
- “Silents” 1928-1945
- “Boomers” 1946-1964
- “Generation X” 1965-1980
So, although the oldest Millennials are just in their mid-thirties, they are and will continue to be, moving into leadership positions earlier in their careers than their predecessors.
In fact, a study by Deloitte in 2013 indicated that 50% of Millennials already hold leadership roles.
In addition, a survey done by Deloitte in 2015 suggest businesses, particularly in developed markets, will need to make significant changes to attract and retain their future workforce.
What all this means is that organizations urgently need their Millennial employees to be ready to step up into leadership — now.
How can you make sure they’re ready?
Here are a few suggestions to consider and help your organization build and retain its Millennial leaders:
Read More 7 Ways To Develop Your Company’s Millennials For Leadership