What is the Millennial Challenge?
Posted on 8th July, 2016 by Emily Blake
You’ve probably heard of the term Millennial. A buzzword in L&D today (for good reason), Millennials make up the largest cohort since the baby boomers and approach their lives, and their professional development, in a vastly different way than any other generation before them. But what is the Millennial Challenge?
The Millennial Challenge is something that most businesses will recognise: the ongoing struggle of attracting, engaging and retaining a generation that typically only stay in a job for less than three years. By 2025 they will make up 75 percent of the global workforce, so it’s never been more vital for businesses to learn more about the challenge and more importantly, how to address it.
Millennials no longer expect or want a ‘job for life’, preferring instead to continually learn and grow. As a tech savvy generation steeped in potential, employers must take steps to ensure that they don’t lose out on the many opportunities that this generation can offer.
- are used to change being the only constant in this fast moving world.
- have built powerful peer networks before they even reach an employer’s door.
- are used to accessing information everywhere, constantly.
- prefer access over ownership (green way of doing things).
- are used to having their attention drawn in many different directions at once.
- are always thinking about their next exit and their dream job.
Millennials are experts in self promotion. They have grown up with online social profiles and the knowledge that anything is within their reach. They therefore enter the workplace with a level of expectation, and it’s up to businesses to meet and exceed these.
- are used to building their own CVs.
- trust their own networks.
- know they have value.
- want a work/life balance.
- are more interested in what a business stands for over their history or future strategy.
Evidence shows that when Millennials are engaged by learning and development in the workplace, they stay for longer. At LEO, we truly believe that Millennials could be the key to not only learning transformation but business transformation.
Creating engaging L&D designed to appeal to the Millennial mindset is the solution. From ensuring the learning is multi-device and instantly accessible, to creating content that is adaptive and needs-driven. There are many lessons to be learnt.
On Thursday 14th July at 3pm BST, LEO’s Kath Fleet (Learning Consultant) and Andy Costello (Solutions Director) will be digging deeper into the Millennial Challenge, exploring the solutions that L&D has to offer so that businesses can attract, engage and retain Millennials, and move learning to the heart of business strategy.