Millenials born in the later 1980’s want their organizations to focus on the improvements; they are more interested in job creations, innovations and profit generation. Almost 70% millenials choose their employers based on the purpose of the company. Business that are identified by the millenials as having a sense of purpose are closely associated to having a slightly greater reporting of higher financial success, employee recruitment and employee satisfaction.
According popular survey it was also found that there was a pressing need for renewed leadership. Millenials wanted leaders to focus on the long-term future growth and development of the organization, the well-being of the employees, their growth and development as well as the company’s contribution to the local communities and the broader society in which it functions. They also give less importance to personal income and rewards as well as short- term financial goals. According to them treatment of the employees is the bellwether and is the most significant consideration when deciding if a company is a leader.
Leadership according to millenials focuses on a certain set of characteristics. Some of the top five characteristics are enlisted here on the basis of their significance from the highest to the lowest order:
- These are strategic thoughts and actions,
- Being inspirational and inspiring others to perform,
- Comprising of strong interpersonal and personal skills necessary to drive the organization towards success,
- Having a focused Vision, Mission and Value, without which aching the objective is impossible for any organization.
- Executing work with passion and enthusiasm, which reflects in the quality of the employee performance.
- Lastly exercising rational decision making or practical decisiveness. This decisiveness however should not be autocratic in nature or else it would be despised and lose favor and the positive impact on the profit generation would turn sour if the company is viewed as operating solely for financial gains.