By 2014, 36 percent of the U.S. workforce will be comprised of this generation and by 2020, nearly half (46 percent) of all U.S. workers will be Millennials (Lynch, 2008). By comparison, the generation before them, Generation X (or Gen Xers), represent only 16 percent of today’s workforce. The sheer volume of Millennials, combined with the relative lack of Gen Xers and the increasing retirement of Baby Boomers means that employers will be facing leadership gaps. And they will be looking to Millennials to fill those gaps.
Mark Nemec: How Disruptive Innovation is Reshaping the Higher Education Value Chain
Historically, the teaching work of a college or university has involved the combination of three fundamental elements: faculty, curriculum, and credentials. For centuries, universities have thrived in large measure because of their ability to join these distinct elements into a compelling, place-bound educational experience where students sit with faculty to study a curriculum and earn a degree. Together, these elements have comprised a value chain — a set of interlocking services that have been transacted in such a way as to provide more value in combination than they might have independently.
Recent and potentially disruptive innovations within higher education, however, suggest that new forms of value are emerging that could undo the traditional higher education value chain. Organisations like ‘University of the People’, ‘Across World’, and ‘University Now’ among others, are already reimagining what the higher education value chain might look like and are employing radically different business models to accomplish their work.
According to a survey of more than 2,800 college students and young professionals in 14 countries, by Cisco, one in three college students and young employees under the age of 30 would prioritise social media freedom, device flexibility and mobility over salary in accepting a job offer.
One interesting characteristic of Millenials noted in the report is that they tend to rely on their own resources and network of friends or colleagues to try and solve problems before going down the official support path. This is an important point to note for IT departments that need to support Millemials: they are prime candidates both for self- help solutions and for collaborative problem-solving and training. As Card explains, “Forward-thinking IT managers will gear solutions and policies around those concepts, and engineer FAQs or self-help portals that behave like search, social networks or forums.”
Colleges educate. Corporations train. Never the twain shall meet. This is how we manage our corporate investments in training and development. It’s a simple formula, but one fraught with pitfalls in the 21st century global economy.
Millennials Totally Not Into Meaning, or Any of That Other Hippie Junk - Megan McArdle - Business - The Atlantic
Millennials and GenX’ers rated being very well off financially, being a leader in the community, living close to parents and relatives, and having administrative responsibility for the work of others as more important than Boomers did at the same age. They rated developing a meaningful philosophy of life, finding purpose and meaning, keeping up to date with political affairs, and becoming involved in programs to clean up the environment as less important.
… many corporate leaders and human resources departments twist themselves in knots trying to accommodate what media and marketers have told them are the preferences of this new generation of employees. They spend enormous sums on strategies to engage millennials — strategies such as corporate social responsibility initiatives, iPad giveaways, and workshops to help older managers better communicate with younger staff. Yet many organizations find that such efforts don’t improve retention.
Mobile devices, observed in the wild, seem to encourage feelings of entitlement in their owners. They connect us to distant people, but remove us from the people who are standing there next to us. In that, they may be creating a new paradox: the social introvert — the person who craves connection, but who craves it mostly as mediated through the constraints of the phone or the Twitter feed, or the Facebook page.