Millennials have dominated headlines for decades, allegedly responsible for the death of entire industries including luxury goods, chain restaurants, home ownership and more. They’ve even spawned a satirical meme based on the sheer number of articles that began with the phrase “Millennials are killing…”. But now, 28-43-year-olds (yes, some Millennials are in their 40s now) are rising to leadership positions in the businesses they’ve apparently “wrecked.”
Skillsoft’s newest “C-Suite Perspectives” report had the largest response numbers from executives aged 35-44 for the second year in a row, while respondents aged 25-34 more than doubled. Further, participating C-suite leaders aged 45-54 dropped 13 percentage points.
Growing up during the transition from analog to digital and witnessing some of the most pivotal events in modern history, Millennials are often defined by their relation to technology and global developments, both of which have influenced their perspectives on leadership and business. These ideals have had, and continue to have, a significant impact on the workplace.
However, Skillsoft’s research also found that a fifth of these younger tech leaders have less than five years of career experience — raising questions about leadership preparedness and training. As this next generation comes into power, their leadership styles and skills, influenced by the events the generation was shaped by, are imbuing the workforce with a focus on human connection, analytics, and agile thinking, but also require development.
As millennials are more than likely to advocate for continuous learning, wanting to expand their own skill sets along the way and bridge these perceived gaps, what skills should they focus on?
Agility and Resilience
Millennials are the connectors of the world pre- and post-boom of personal tech devices. Well-versed in adapting to a changing environment, they can spotlight agile thinking as an integral pillar of successful business. With intrinsic curiosity, Millennials are leading the charge to redesign how business is conducted as they guide organizations through the aftereffects of the COVID-19 pandemic, the rise of artificial intelligence (AI) at work and the introduction of Gen Z into the workforce. They can drive their teams forward through an enhanced focus on learning and development (L&D), a benefit sought out by more than just their cohort.
Perhaps stemming from their early days coding MySpace profiles, Millennial executives have shown they’re not afraid to take on a challenge or learn a new skill to stay ahead — whether socially or economically.
Making Use of Data
With the rapid pace of change in tech and a focus on personalization across industries, analytical and creative thinking are another pair of skills emphasized by this generation of leaders. More data than ever flows through a company’s servers; data ranging from customer demographics to competitor sales to internal wellness measurements. An accurate analysis can successfully steer company direction, avoiding missteps and potential biases. Creative thinking further enables these analytics as non-traditional solutions can open to leaders strong in this skill. Creativity encourages innovation, business sustainability, and the potential for greater employee engagement as workers remain enthusiastic about company growth.
The Human Connection
An emphasis on empathy and communication is prevalent throughout leadership development today, transcending generational differences. Among the technical and business-minded competencies, power skills stand as the great differentiator between a good leader and a great one. The capacity to create solutions while keeping in mind a variety of perspectives can give executives credence and dependability in the eyes of their workers. Beyond the positives for their own reliability, leaders who stress these “human” attributes are setting their workforces up for the future as companies explore how technology fits into their day-to-day role.
Having entered the workforce when the smartphone was coming into power, Millennials who round out their skill sets with listening and communication skills will ensure they’re open to the best path forward. While not every leader checks all these boxes, it should be the ultimate goal. A holistic skill set can set businesses up for a long-term and sustainable future. Leaders able to form logical conclusions with the use of data, but keep in mind the human connection that sets them apart from machines, will make the best use of creative and agile solutions to address the problems of tomorrow.
