Talent acquisition, knowledge transfer, generational diversity, and retention will continue to be serious concerns. I think the golden thread is equipping management to work with Millennials. Let's face it. We are going to see organizations needing to replace 40% to 60% of their workforce. Management has never been more important!
Chip EspinozaFriedman suggests self-differentiation is about knowing where you end and others begin.
Chip EspinozaIn general, workers under 35 highly value Millennials' ability to relate, be helpful, be open-minded, and be understanding. Employees over 35 appreciated their energy, enthusiasm, open-mindedness, fresh perspective, and understanding of new technologies. It is interesting, in my early research, Millennials entering the workforce reported advantages they claimed to have in the workplace. The advantages turn out to be strengths that are recognized in them as managers.
Chip EspinozaThe people who care about us the most are the ones who are most likely to hold us back.
Chip EspinozaI think the best value to leaders is understanding the generations for the purpose of integrating a younger workforce and transferring knowledge from an experienced workforce. I also think smaller companies may not have the resources for management training or recruiting and therefore there is not a lot of margin for error.
Chip EspinozaPeople change, mature, and develop their values, attitudes, and preferences as a function of age. It is actually a strategy deployed by many organizations. The idea is that once Millennials grow up -get a mortgage, family- they will start acting like us and sharing our values. Personally, I would not make that bet. Even if it were to happen, Millennials are putting off seven or more years what other generations have done. Waiting for Millennials to "grow up" is risky when it comes to knowledge transfer, talent development, and competitive advantage.
Chip Espinoza