How are Millennials Changing the Business World

How are Millennials Changing the Business World

A shout-out to all the amazingly capable, courageous individuals out there who are, despite the current state of the economy, fighting for the ongoing success of their currently thriving businesses and investing into the future of an improved world. Not many can do it, but apparently – you can!

With the ongoing change in the business dynamics, the question on every entrepreneur’s mind is who seem to be the most capable people to hire? Not that anyone’s being presumptuous, but there’s a feeling that the Gen X generation can’t really keep up with the vertiginous changes and upgrades we’re facing on daily basis. To rock the current business world, people in leading positions need to be advocates of change, upgrade and progress. They should be a one-hundred-percent capable individuals who aren’t distressed by the potential problems but rather motivated by them.

These people are the Millennials

Popularly referred to as Millennials, but also known as Gen Next, Gen Y, Echo Boomers, the Baby-On-Board Generation, Screenagers — these kids are taking over the world. In the next five years, Millennials are expected to make up one-half of the workforce and a whopping 75 percent in the next decade. As Millennials become more engaged in the world around us, they are bringing about a change that’s collectively pushing us forward.

What makes Millennials the workforce to hire?

Unique in their own right, Millennials are unapologetic about their lifestyle. They are prophets of change who know what they want and will do virtually anything to get it. Driven and passionate, optimistic and dedicated, hard-working but opinionated – Millennials seem like a generation born into a privileged circumstance of always being on point and always being successful. They are definitely a tough crowd to be around, but every bit worthwhile.

Having such passionate individuals on your team is very rare but with Millennials –  you’ll not only get dedicated workers but fervent youngsters who’ll go above and beyond to fight for the end triumph. Are you ready for them? Well, you personally may not be, given they read as heavy competition, but your business is thirsty for the workforce like that.

Why are Millennials different to everyone else in the bizz?

Baby boomers have drastically changed the face of business world, turning it into an arena of opportunity, healthy competition and loyalty grounded on heavy individual engagement, selfless commitment and willingness to work long hours. Unlike the Gen X, who were oriented to flat management 9-to-5 structures, Millennials care not for work hours but the end results. These kids grew up in organizations with large corporate hierarchies and this business structure is what they are comfortable with. They work amazingly well individually and in teams, and they (often) have no problems with authority.

Opposite to their successors, the Gen Z generation who are entrepreneurship and mobile work-hours oriented, Millennials are respectful of the hierarchy, rules, and they think collaboration instead of control.

They are currently the largest generation of active workers.

Are there any weaknesses to hiring Millennials?

Now, that one is a Catch 22.

Millennials are generally very self-confident, well educated, able to multi-task, skilled in technology and have plenty of energy. They have high expectations for themselves and they constantly seek challenges but still appreciate a healthy work-life balance. However, with the long working hours and a desire for the immediate results in the work they do, their social interactions often suffer which may take a toll on their lives and (business/personal) choices when they get older.

They are often impatient in their need to achieve a lot in very little time, which is why they may be branded “weak” by older colleagues.

What makes Millennials stand out?

Millennials are the first generation to:

  • Challenge old assumptions about careers and jobs

With Millennials stepping onto the business scene, the good old getting-employment-and-loyally-working-for-a-company-until-we-retire has been thrown into question. Staying with one company till the rest of your days with no desire to advance or challenge your own business capabilities became the ultimate feature Millennials’ criticize and disregard. They have a strong expectation for their projects, businesses and goals, leading them to expansion and success through hard and committed work. When you’ve got at least one committed Millennial on your team, you are good to go.

  • Aren’t comfortable with plain office structures

Millennials have a strong appreciation for beauty and are firm believers into the law of attraction. With the hard work they are doing, the way to blow off some steam and gain their life-work balance back is by exercising yoga, surrounding themselves with beautiful stimulating things and spending time outdoors. For Millennials to be happy in their workspace, they won’t settle for gray spaces, cubicles and all-white-interiors. They need offices that speak to them. Colors, art, comfortable office furniture, some beautifully designed boardroom tables, a lot of natural light, wide windows, high-quality equipment, undisrupted access to the internet, a stocked fridge in the office kitchen and a lounge to go to and take a breather are the least they are expecting. In all truth, this is the least they can get with all the work they are doing.

  • They challenge “one size fits all”

Since Millennials grew up with smartphones in their hand, they’ve learned how to successfully communicate with wide masses, but they don’t necessarily need to know 3D. This puts them in the front seat both as young adults and the workforce because they’ve got yet another tool working to their benefit – the ability to do business even when outside the office and build relationships that will bring money to the firm.