Millennials are optimistic and connected. According to Erica Dhawan, an MBA student at MIT and MPA at Harvard, specializing in Gen Y, and a featured speaker at the recent World Economic Forum at Davos, Switzerland: “Technology has convinced Millennials that a single person’s voice can make a difference.” She goes on to argue that Millennials want to be coached, not supervised and mentored formally by older generations.
Josh Bersin, writing in Forbes about Millennials cites a study by Deloitte and a similar study in India which shows nearly 50 percent of the Millennials in the studies are already in leadership positions, and “most companies are discovering that supporting and retaining this talent requires a new way of doing business.”
Some key findings Deloitte’s third annual Millennial Survey of nearly 7,800 Millennials from 28 countries across Western Europe, North America, Latin America, BRICS, and Asia-Pacific about business, government, and innovation are:
While most Millennials believe business is having a positive impact on society and increasing prosperity, they think business can do much more to address society’s challenges in the areas of most concern: resource scarcity, climate change, and income inequality;
50 percent of Millennials surveyed want to work for a business with ethical practices;
Millennials say government has the greatest potential to address society’s biggest issues but are overwhelmingly failing to do so;
Millennials believe the biggest barrier to innovation is management’s attitude;
Millennials believe the success of a business should be measured in terms of more than just its financial performance, with a focus on improving society among the most important things it should seek to achieve;
Millennials are also charitable and keen to participate in “public life”: donate to charities, actively volunteer, and be a member of a community organization.