Millennials at the Helm – And What They Need To Succeed
Category : leadership
A new research report issued by WorkplaceTrends.com, a research and advisory group, and Virtuali, a leadership training firm, identifies why Millennials want to lead and what they need to be equipped to lead effectively.
#1. Millennials want to lead.
An overwhelming majority of Millennials see themselves as future leaders. Of the 412 Millennials surveyed, 91% aspire to hold leadership positions sometime in their career. More than half (52%) of those who plan to lead are women. This is good news for the leadership pipeline in most organizations, at a time when research shows that only 14.2% of the top five positions in S&P 500 companies are women.
#2. Millennials aspire to be transformational leaders.
63% said they wanted to be transformation leaders, defined in the study as seeking to inspire and challenge followers with purpose and a sense of excitement. This is consistent with their desire to empower others, with a full 43% reporting that empowerment is their biggest motivator for leading others. By contrast, only 5% reported money as their top motivator and a mere 1% reported power as their top driving force.
#3. They need leadership training.
And they aren’t getting it. More than half (55%) reported dissatisfaction with the leadership development opportunities offered by their company. With the first Millennials hitting their mid-thirties and a glut of baby boomer retirements on the horizon, companies would be wise to heed Millennials warning and get them the leadership training they need.
#4. They want to learn online and with mentors.
Millennials reported wanting to learn online, when asked what type of training would be most effective. A full two-thirds (68%) reported that online training would best suit their needs. More than half (53%) said they would like to learn from mentors.
#5. Communication is the most important leadership skill.
58% of the Millennials surveyed reported communication as the single most critical skill for leaders. Other research has shown that Millennials want to make the world a better place and value that over extrinsic factors like money. Being able to clearly communicate the values and mission of your organization can make all the difference in attracting the top talent the Millennial generation has to offer. And then provide them with the communication training to lead the organization to carry on.
What leadership training is your company offering for Millennials?
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