Key relationships can become threatened when you start exploring your own path. This is true when it comes to relationships with parents, mentors, and bosses. It's not always true, but many times these important people in our lives feel threatened in some way by our independence from them. There is an inner conflict that comes with exploring your own voice.
Chip EspinozaI have worked with countless organizations that exhaust energy adapting to the weaknesses of the leader. I had a leader announce to his/her team the other day that he/she was the smartest person in the room. It perhaps was true, but that is where self-regulation should come in. The days of one genius surrounded by a bunch of worker bees are hopefully done. I know Millennials won't buy into such a scenario.
Chip EspinozaTalent 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 EspinozaI am concerned that Millennials are stressed out. They have a higher suicide rate than other generations at their same age. They have the highest diagnosis of depression at their age than other generations. I think we have raised a generation that does not know how to be sad. They are programmed for success and the threat of failure is devastating.
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 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 Espinoza