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Millennial leadership v 1
The document discusses generational differences and characteristics of millennials in the workforce. It provides an overview of different generations based on their age ranges and how major world events shaped each cohort. Millennials, born between 1977-1993, make up a large portion of today's workforce but desire flexibility and how companies contribute to society in addition to profits. Engaging with millennial talent is important for businesses to avoid being left behind by this demographic.
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Millennial leadership v 1
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- 2. RedMan47 in.linkedin.com/in/rajdeeplalvani rajdeep.lalvani@gmail.com +91 9811156990 The VIEWs expressed in this PresentaJon are in no way the official views of The Times of India and should not be interpreted as such. Rajdeep Lalvani Associate Vice President The Times of India Group
- 3. PRE 1936 1937 -‐ 1945 1946 -‐ 1964 1965 -‐ 1976 1977 -‐ 1993 1994 + Please select the appropriate period in which you made your Parents really happy by being born to them!!!!
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- 5. The GeneraJons Age +79 70 -‐ 78 51 -‐ 69 39 -‐ 50 22 -‐ 38 < 21 Major Events WW I WW II Great Depression Mahatma Gandhi – 1920s WW II Great Depression Food Ra:oning Indo-‐China Aggression ‘62 Civil Rights Independence Women’s Libera:on Cold War Colour Television Famine Vietnam Indo – Pak War ‘65 & ‘71 Water Gate MTV Gen Greenpeace Drought AIDs Technology Personal Computer – 1981 Hotmail Environment 9/11 26/11 Gulf War Afghanistan War Kargil War Google Glass Nano Compu:ng Major Traits Formal Uniform Coopera:ve Public Interest Personal Connects Respect for Authority Loyal Hard Work Personal Connects & Telephone Explore Op:mis:c Work Centric & Loyalty Career Defined by Employer Individualis:c Flexible Rebel against Authority Tech Explorers SMS & E-‐Mail Tech Comfortable Family Centric Op:mis:c Issue Ac:vist Ac:vist Connected 24 X 7 Mul: Taskers Solu:ons crowd-‐ sourced The GeneraJons Source of InformaJon -‐ The Indian Millennial, JWT Study, TISS Survey PRE 1936 1937 -‐ 1945 1946 -‐ 1964 1965 -‐ 1976 1977 -‐ 1993 1994 +
- 6. The GeneraJons Age +79 70 -‐ 78 51 -‐ 69 39 -‐ 50 22 -‐ 38 < 21 AspiraJons Home Ownership Hero Job Security Independence Social Standing Job Security Re:rement Financial Security Work Life Balance Financial Security Freedom & Flexibility Security Stability Signature Product Automobile Automobile Television Automobile Home Owner Television Telephone Personal Computer Internet Mobile Phone Smart Phone Laptop Tablet Google Glass Mac Android Career A^tude Jobs are for Life Jobs are for Financial Stability & Social Standing Employer is “Annadata” Loyal to Profession not necessarily to Organiza:on Digital Entrepreneurs – Work with Organiza:ons not for Career Mul:-‐ Taskers – Jobs & Businesses Percentage in the Workforce NIL NIL 15% 30% 50% Part-‐Time or Internships / College The GeneraJons Source of InformaJon -‐ The Indian Millennial, JWT Study, TISS Survey PRE 1936 1937 -‐ 1945 1946 -‐ 1964 1965 -‐ 1976 1977 -‐ 1993 1994 +
- 7. This is how it LOOKS TODAY • Every GeneraJon sees itself as the “BEST” • And no doubt a lot of us have heard endless……… “Hamare Zaamane Main STATEMENTs” • Every genera5on sees itself as being different and special, however, the truth is that the basic DNA remains the same, it is the way we think and the belief system that are crea5ng the differences. And these differences are all hard wired into our brain due to the Major Events that have happened during the forma5ve years of each of the Genera5ons • In the World we live in, human nature remains more or less the same. PRE 1936 Have gone out of the WORKforce 1937 -‐ 1945 Have also gone out of the WORKforce Emeritus Roles 1946 -‐ 1964 The Baby Boomers are sJll acJve in the WORKforce 1965 -‐ 1976 Gen X’rs are very acJve part of the WORKforce and most are in Leadership roles 1977 -‐ 1993 Millennials -‐ The Primary WORKforce and they are in a hurry, impa5ent and more. 1994 + StarJng to come of Age, but not really in the WORKforce as yet
- 8. 2015 Deloiie Millennial Survey Source of InformaJon -‐ The Indian Millennial, JWT Study, TISS Survey, H Barry Salzbery – CEO of Delloite Global When looking at Career Goals, today’s Millennials are just as interested in how a business develops its people and its contribution to society as they are in its products and profits. To deal with this way of thinking, the Business community needs to change the way they engage with Millennial talent or risk being left behind.
- 9. The Indian Millennial • With a populaJon of 1252 million (2013 World Bank est.) we are the second most populous Country in the World marginally behind China. • And at last count we had close to 600 million people who would fall into the category of “Millennial”. This is double the populaJon of the US. • In spite of the a^tudes and lifestyles that describes the Global Millennial, the Indian Millennial brings to the table a combinaJons of tradiJonal values & cultural perspecJves. • A study by JWT supports this and have coined a new term for the Indian Millennial – “Tech Savvy TradiJonalist”. Source of InformaJon -‐ The Indian Millennial, JWT Study, TISS Survey
- 10. The Indian Millennial • As against in the West, you are quite likely to find the Indian Millennial staying as a part of a large extended family. A^tude towards ge^ng a “good bargain” remain deeply ingrained in the mind-‐set. • According to some studies, over 70% of the Indian Millennial support tradiJon and preserve family values. • A new generaJon of Indians is joining the Workforce even as we speak and trust me, they are not bound by any “dictates” that were bestowed upon us like – developing naJon, under-‐developed, poor or like – This is a generaJon of “hungry for success, the rich and upwardly mobile.” Source of InformaJon -‐ The Indian Millennial, JWT Study, TISS Survey
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- 12. PRE 1936 Have gone out of the WORKforce 1937 -‐ 1945 Have also gone out of the WORKforce Emirateus Roles 1994 + StarJng to come of Age, but not really in the WORKforce as yet 1946 -‐ 1964 The Baby Boomers are sJll acJve in the WORKforce 1965 -‐ 1976 Gen X’rs are very acJve part of the WORKforce and most are in Leadership roles 1977 -‐ 1993 Millennials -‐ The Primary WORKforce and they are in a hurry, impa5ent and more. • Close to 95% of the WORKforce are a MIX of Baby Boomers, Gen X’rs and Millennials. • And the biggest segment is the Millennials who are being in most cases being managed by Gen X’rs. • To be able to effecJvely lead this group, we need to win the hearts and the minds of this group – and to do that we need to understand them a bit Coming of Age!
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- 15. Millennial DifferenJaJon Within the Millennial GeneraJon also there are two disJnct groups – The Younger & the Slightly more Younger!!! 21 years – 27 years 28 years – 37 years
- 16. DIGITAL SURROUND The Traits of every GeneraJon are defined by the events that shaped their growing up years. In this case Digital has shaped their World View – They are always on and connected, Technology is their SKIN
- 17. DIGITAL SURROUND 99% own Smartphones & connected 24 X 7 Text, Whatsapp, Re-‐Tweet & Likes are their Life Social Media & EmoJcon Life Crowd-‐Sourced decision-‐ making Obsessed with PercepJon Have their OWN website and or Blogs
- 19. HBR • Jeanne C Meister & Karie Willyerd published an ar:cle 5 years ago in HBR that the makeup of the global workforce was undergoing a shif and in four years, Millennials would account for over 50% of the workforce. • The ar:cle also highlighted the TOP 5 requirements Millennials had and these are a reality in todays world Source of InformaJon -‐ The Indian Millennial, JWT Study, TISS Survey, ….from their Boss ….from their Company ….to Learn Help me Navigate my Career Path Will develop my skills for the Future Technical Skills in my area of exper:se Will give me straight feedback Has strong Values Self Management & personal produc:vity Mentor & Coach me Customized benefits & rewards Leadership Sponsored formal development programs Work – Life balance Industry & Func:onal Knowledge Is comfortable with flexible schedules Clear Career Path Crea:vity & Innova:on Strategies
- 20. • Millennials view WORK as a key part of Life • They also want to find WORK that is personally fulfilling • Want to WORK to make new friends, learn new skills and connect to a larger purpose • In a Sense, they are looking at TOTAL FULFILLMENT • They want Leadership Roles • They want to be Mentored – not lectured too • They Want to be Coached through their Mental minefield • The are looking for conJnuous learning and consequent growth • They want to be Socially Responsible • They want to try and belong as a community
- 21. • They Want to Be: – Approachable, Open & Transparent – Ethical, Fair, Honest & Trustworthy – AnalyJcal • They Want to Do – Develop Skills – Inspire, Encourage & MoJvate – Treat others with respect & dignity – Foster an Inclusive Environment • They Want to Communicate – Clearly arJculate thoughts, opinions and Ideas – Have truthful & transparent conversaJons – Solicit, accept and take acJon based on subordinate feedback In Summary