Sooner or later, you probably will end up with a boss who’s a member of the Millennial generation. Here are some stats to help you understand them.
More and more members of the millennial generation are entering into leadership positions or starting their own businesses. They’re not always easy to understand, especially when you’re not a millennial yourself. As a group, Millennials have their own perspectives and values that are distinct from previous generations.
So what do Millennials actually care about? How do they lead, and what are their plans for the future? Surveys and studies offer a fascinating look as to the beliefs and priorities of millennial bosses. Here are some enlightening stats to help you draw a more accurate image of your millennial boss:
They Realize the Delicacy of Leading Older Subordinates
Many millennial bosses feel that a significant number of older subordinates feel that these “young’uns” do not really deserve their leadership position.
- Understandably, 63% of millennial bosses prefer to manage fellow millennials.
- However, 61% of them aren’t afraid of managing older subordinates. They feel the key is to show respect to everybody.
- Only 35% say that they relate to these older subordinates as equals.
- Only 38% admit that they want to learn from their older co-workers.
Millennials Actually Believe in Personal Communications
Despite the prevalent notions of millennials constantly focused on their smartphones, these leaders actually prefer to communicate the old-fashioned way.
- An astonishing 55% of them prefer to communicate through conversations with small groups.
- About 22% use company-wide meetings.
- Only 10% prefer to communicate through emails.
- Most surprising for their elders, only 5% prefer to use their phones to communicate.
- About 51% of them even want to talk about company financials, even if it’s mainly bad news. Apparently, these young guns like transparency.
They’re Not Impressed with Their Elders
These young leaders believe that the older business leaders made a lot of mistakes, which they’re determined to fix.
- Racial diversity efforts by older generations are especially panned, as 82% millennials believe that earlier generations simply didn’t do enough to include minorities into their business.
- Gender diversity is also a big issue, with 80% of millennials feeling that the older generations focused too much on hiring men.
- Even the work-life balance of older business leaders has been questioned, with 57% of millennials judging that their elders were too focused on business. Most millennials believe that there should be enough time for other aspects of life, (i.e., spiritual, health, social and romantic lives).
- However, 60% of millennials do think their elders did alright with effective financial management.
Millennials Understand that Business and Politics Do Mix
Young business leaders aren’t worried about having politics enter the workplace. Some (mainly conservatives) may say that the current business may be too liberal, but millennials think that it’s not liberal enough.
- About 67% of millennial business leaders feel that it’s alright that there are polite political discussions at work, and even 16% say they encourage such conversations.
- In contrast, only 17% of them think that the workplace should be politics-free.
- An astonishing 42% think the entire business landscape today is conservative, and only 26% think to regard it as liberal.
- As for political affiliations, it’s unsurprising that 41% of millennials are Democrats with 27% as Independents. Only 8% of them are Republicans.
They’re Gonna Change the World
- “Making a difference” is why 53% of millennial company founders started their business.
- Providing a service or product that improves life is the best method to make a difference, according to 46% of these young business leaders.
Take note of these stats as you work with your millennial boss. They’re entitled to your respect, regardless of how much they differ with your own beliefs.