Recognizing the skills and limitations of each person is key to moving forward in the business world and these young business people realize that hiring better, smarter and faster people than themselves is the way to go.

1. By
Jason Hanold
ARE C-SUITES QUICKLY
BEING REPLACED BY
MILLENNIALS?
Image courtesy of Elizabeth Hahn at Flickr.com

2. All those who are young adults ranging between 18 and 34
in the 2016 are making a reputation for themselves by
changing up the game as they grow up and get involved in
the different aspects of the world from fashion to how
business is done. Despite the fact that many of them will
not even consider themselves millennials, the impact that
they are having on the world is real and how we are ready
to receive them in the marketplace and companies will
make all the difference. When it comes down to it, many
say that being a millennial is more a state of mind than
anything else. Their mind frames come built differently
and this becomes evident when interacting with people
from other generations.
ARE C-SUITES QUICKLY BEING REPLACED
BY MILLENNIALS?

3. Millennials are transforming business as young professionals
and entrepreneurs that bring new lessons learned and
experiences to the table. Most millennials will prove to have a
short and fast learning curve, learning from their mistakes
rather quickly and moving on. Recognizing the skills and
limitations of each person is key to moving forward in the
business world and these young business people realize that
hiring better, smarter and faster people than themselves is the
way to go. The lifelong learning mentality is very much instilled
in this generation and is evident with the evolution of
education. By balancing their lives and at the same time
understanding that perfection does not and will never exist they
believe in constant growth and evolution, while not forgetting
about their personal development.
ARE C-SUITES QUICKLY BEING REPLACED
BY MILLENNIALS?

4. In recent studies by WorkPlaceTrends.com only 31% aspire to obtain a
c-suite position in a company, while their older counterparts are at 68%.
Even more interesting was the fact that of these percentages, only 31%
were women. Right now, only 20 women are CEOs in the Fortune 500
companies, which opens the door to a lot of questions as to what is
happening that less and less women want to be in that corner office, and
even more so that millennials are following suite. Some executive women
state that you can’t be something you can’t see, leaning on the fact that
the lack of women in c-level posts is one of the reasons behind why
women are not so interested in taking on a role like this. One big factor
behind the lack of the desire for a CEO post, for both women and
millennials, will come down to wanting to maintain a work-life balance
that these jobs will most likely not offer. Now, what has changed
drastically is where leadership is found. Many millennials may not be top
honcho, but they are leaders and recognized as such even by their
superiors. This shifts is leading to many millennials with leadership skills
to want to stay where they are and do what they love, while still having
great influence because of their skills. As a company who needs to start
looking towards the future and who will take the reigns of the company in
the future, it is important to realize what these young executives are
looking for such as development opportunities, clear communication and
a healthy lifestyle.
DO THEY WANT TO BE C-SUITES?

5. It is important to consider the consequences of a lack of young
business women and men not interested in taking leadership
roles within a company. Human resources should begin to
prepare to see how they are going to face the lack of people
willing to step up, or better yet to convince personnel that have
the skills and traits required, but are not interested.
Obviously this will not be the case for all millennials, since
there are some like Kate Unsworth who at the age of 17 is
already a successful entrepreneur as the Founder and CEO of
Vinaya. Vinaya is dedicated to exploring the relationship
between humans and high tech jewelry with exquisite wearable
tech combined with breathtaking jewelry.
DO THEY WANT TO BE C-SUITES?

6. Millennials will definitely come in with the purpose of reshaping,
not only companies, but the country. In the hands of millennials we
can expect companies to become more pragmatic, making sure to
make sound and reasonable financial and managerial decisions.
Most research and investigation will be geared towards purposeful
innovations. The millennial lifestyle will increase the need of bike
lanes and healthy food, which will be transferred over into
company’s infrastructure and initiatives like running health
campaigns and showing a general concern of their employee’s
health. Productivity will be measured by results not hours, and
millennials have this clear with their work-life balance mind frame.
Communication is something that with today’s technology will
continue becoming more real-time interaction than asynchronous.
This will in itself transform the way companies communicate
internally and externally, especially with clients. In the same line,
the way the company advertises itself, will take a second place to
how the company expresses itself via interesting and vanguard
content.
HOW WILL MILLENNIALS RESHAPE
COMPANIES?