Gap pattern: How leadership is changing in the Millennial Era?
The generation of millennials now accounts for more than half of all labor market participants. And recently, its representatives are trying on managerial roles. However, the leadership style of their predecessors does not suit them, and they gradually change it, forming their own.
It is based on four main principles. But it is likely that in the future, under the influence of new views, our usual idea of leadership will transform even more.
The evolution of the iconic image of CEO
The idea of a flawless CEO has appeal to young leaders. Recognizing their weaknesses, they say, is just as important as strengths. Therefore, they tirelessly ask questions, try to determine the paths of their development, regularly study, instead of believing that they already know everything. This allows them to be open and in a variety of ways, inspired by new ideas and methods for their implementation.
Of the skills that millennial leaders strive to develop, the so-called soft skills prevail: emotional intelligence, way of thinking, ability to collaborate. At the same time, technical skills - experience and knowledge in their industry - recede into the background.
Collaboration and flexibility instead of strict hierarchies
Next-generation leaders question "rules for the sake of rules." In their opinion, both managers and employees should constantly review and change those that no longer carry values.
A successful business, according to the millennials, should be flexible in an unstable working environment. Formal hierarchies and strict structures constrain. At the same time, a flat organization allows people to learn and develop continually, and in their career development to go not classical "vertical" paths (from starting positions to leading), but also "horizontal", taking on new roles.
Collaboration within a flat hierarchy also allows managers to learn more about the problems that employees. And if a team receives sufficient autonomy and does not rely on official permissions from the manager in making decisions, then each employee gains the ability to act more creatively.
Subordinate Leadership Development
Almost 50% of young managers believe that leadership is the empowerment of other people. And therefore, they provide conditions under which employees could understand for themselves what aspirations drive them and use them in the future. When people independently manage their actions, the work is done much more efficiently.
Leaders also create new opportunities, helping employees develop their talents, and maintain relationships with aspiring entrepreneurs, with whom they are moving towards joint achievements.
The union of work and life values
Young leaders build companies based on personal hobbies and views, while corporate values resonate with their own. Therefore, they take on a social mission, are engaged in the production of ethical and non-toxic products, or want to inspire other people by their example, motivating them to realize their projects.
Their personal goals are the engine of their business success. They focus on what brings happiness, not money because it brings them real wealth that cannot be bought. And they admit that they would go about their business, even if it did not deliver financial returns.