Millennials may seem like spoiled brats to some, but they are starting to run corporate America. There will be changes in the business world because the career principles for success for millennial CEOs are different. Expert recruiting executives such as Jason Hanold Chicago know exactly what to expect from the next generation of businessmen and women. Some things that are expected to change are:
• CEOs will be willing to take huge financial risks. This generation entered adulthood with huge student debt and few jobs available.
• Investment and research will focus on innovation for useful products.
• Cities may add thousands of miles of bike lanes because this generation avoids cars and favors environmental sustainability.
• The food industry will have to change to keep up with a generation of people who want the back story of their food. Products will be well-labeled and respond to consumer demand more than ever.
• Health will also be an important focus in the millennial workplace. Employees that maintain a healthy BMI, don’t smoke and regularly exercise will get rewards. The rising costs of medical care will be offset by keeping the workforce healthy.
• This generation is aware of the negative impact of mental illness and job stress. Good mental health will have just as high a priority as good physical health.
• The productive measurement will shift from hours spent in the office. Working from home, or anywhere else saves commuting time, reduces pollution and gives employees more time with their families. Millennials will insist on a living wage.
• Consumers will be treated as partners. There will still be advertising, but it will be content driven and relevant.
• Corporations will focus on social responsibility. A CSR office will be part of every company because millennials expect companies to give back to communities, employees and consumers.
Gone are the days that an employee will work 60 hours a week to get the approval of a superior. Millennials care about purpose and personal fulfillment. They want jobs with meaning and work that they love with the aim of improving on the status quo. They want change, they are hyper-connected, and they are driven to make a difference.
Some characteristics to look forward to are:
• Open collaboration
• No more nine to five workplace
• The company wants employees as much as those employees want the job
• Business strategy and decisions include employee quality of life
• The latest technology is used to increase innovation
• Precedent is no longer accepted
Another important quality of the millennial CEO will be to speak to everyone in the same way no matter what their position. It’s important to consider the feelings of others, look for opportunities to congratulate them on their successes and give them perks.
The millennial generation may be misunderstood today, but it’s worth taking a look at their values because they have faced serious social and economic challenges. Their perspective on running a company and what that means to employees and consumers may soon be the norm.