‘Who are young millennials and what do they want’ talks about a young, intelligent and evolving generation. It describes a generation that is enthusiastic and eager to learn and grow.
The major workforce of any organisation consists of millennials . It is very important for all of us to understand the mindset of young millennials to provide effective HR solutions.
In this blog post, we discuss how the requirements of young millennials are different from those of previous generations.
To which generation do millennials belong
Millennials, also known as Generation Y, Generation RX or the Net Generation, are the demographic cohort that directly follows Generation X. They are the last generation of the 20th century. The term millennials is usually considered to apply to individuals who reached adulthood around the turn of the 21st century. However, there are Other proposed dates for millennials:
- Newsweek magazine reported that the millennial generation was born between 1977 and 1994.
- According to Iconoclast, a consumer research firm, the first millennials were born in 1978.
- New York Times pegged the millennials at 1976-1990 and 1978-1998 in separate articles.
- A Time magazine placed the millennials at 1980-2000.
Following is a demographic break down of the 4 generations of the 20th century.
The generations of the 20th century.
The 1st generation born between 1925-1945, was the silent generation because of the world war.
The 2nd generation born between 1946-1964 are called Baby Boomers, because during the period, there was a statistically significant increase in the number of births that occurred.
The 3rd generation born between 1965-1980, are the Gen X.
The 4th Generation born between 1981-1997 is Gen Y .
The Gen Y make up about 23% of the entire population.
What young millennials say about themselves.
We are cool, confident, optimistic, sophisticated, tech driven and great when it comes to multitasking. Our way of work-life balance is more important for us. We believe in diversity and socializing, meeting new people and building relationships.Most of the time, we are not shy or discreet about our personal and social lives. Sexting, similar sex partner, etc are not uncommon to us.
Insight: After listening to a young participant describe, what it means to be a millennial. It occurred to me that millennials are a big change from the prior generation.
This is what I discovered, when I researched further.
What do young millennials want?
Young millennials prefer a coach to a leader. They prefer someone who will coach and guide them in all their endeavors and a coach who is more of a friend than a boss.
They would like to work for a ‘meritocratic’ form of governance in organisations. This also means that not only experience, but other aspect such as merit should also be the consideration for promotion.
They prefer a multicultural workforce and like working in teams, they collaborate well with one another.
They want to work for organisations, where integrity is prominent and where organisations provide a variety of trainings that help enhance and develop soft, technical, marketing and behavioral skills.
Dressing in casuals for work: Jeans, t-shirt, etc, is a common preference.
They want things fast' (Instant gratification). For example, if a download takes too long, it may not appeal to them anymore or let’s say when it comes to feedback, they require instant feedback and all the time.
Social Media, chatting with their pals and complete strangers are the other exciting, desires or wants of millennials. Facebook, Instagram, are some prominent sites that millennials access constantly.
Conclusions:
Young millennials are in a variety different from the previous generations. They are vibrant and enthusiastic. Organisations may have to do more for, in order to thrive.
A major shift will be required in the policies of organisations, in matters related to recruiting, engaging and working with young millennials.
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