Written by Grant Luipasco It is difficult these days to pick up a trade magazine or review an on-line article without seeing a story about “Millennials”. To us Baby Boomers and Gen Xers, Millennials are a strange and mysterious tribe, and yet, are they really much different than previous cohorts? Do they really approach life differently than their predecessors? What do they want from their careers? So many questions, so few answers but wait…here is what we do know: Fact: Millennials are now the largest, most diverse generation in North America. Millennials, the cohort born between 1980 and the mid-2000s, are the largest generation in North America, representing almost one-third of the total population in 2013. Millennials also stand out because they are the most diverse and educated generation to date. Fact: Millennials have been shaped by technology. This is the first generation to have had access to the Internet during their formative years. Since personal computers were introduced to schools in the late 1970s, technology companies have innovated at startling speed, often rolling out a ground-breaking new platform or computer model every year. Much of this period of innovation coincided with Millennials’ childhoods; it has shaped the ways that Millennials interact with technology, and seems to have impacted their expectations for creativity and innovation in their work lives. Fact: Millennials value community, family, and creativity in their work. Millennials are not just virtually connected via social networks; they value the role that they play in their communities. For instance, high school seniors today are more likely than previous generations to state that making a contribution to society is very important to them and that they want to be leaders in their communities. Fact: Millennials have invested in human capital more than previous generations. More Millennials have a college degree than any other generation of young adults. In 2013 in the U.S., 47 percent of 25 to 34 year-olds received a postsecondary degree (associates, bachelor’s, or graduate degree) and an additional 18 percent had completed some post-secondary education. As well, Millennials have been less likely to work while enrolled in high school. Since 2000, labor force participation rates among high school and college students have fallen more sharply than those who are not enrolled. Focusing exclusively on school enables students to invest more time building skills that will be rewarded in the labor market later on. Fact: Working Millennials are staying with their early-career employers longer. Millennials are sometimes characterized as lacking attachment or loyalty to their employers, but in fact, contrary to popular perceptions Millennials actually stay with their employers longer than Generation X workers did at the same ages. So, the questions should be asked: “What does this mean for career planning? Do we need to do things much differently?” The company I represent–Psychometrics Canada–provides, among other things, assessments for effective employee selection, employee and leadership development as well as career planning. The assessments are designed to provide information and insight into our personality, preferences and behaviours. These assessments can be used to set a baseline for, and add structure to, career development and planning initiatives. Recently, we were asked by a major Canadian engineering firm to design a program for their “Millennials”. The engineering firm wanted to encourage this group to start thinking about where they were going in their career. Did they want to pursue a management track and eventually be a part of the leadership group? Did they want to specialize in a specific engineering or design practice? Did they want to focus on the “business” side of the business? This was not done in isolation, as there was significant consideration given to the current and future needs of the firm as well. In other words, what do people want to do in their careers and how can they fit into the organization? What does the employee need to do to prepare, and what does the firm need to do to ensure its future requirements will be met and that the potential of its human capital is maximized? The recommendation was to use an on-line personality/behavioural tool called the Work Personality Index assessment. The Work Personality Index assessment measures and reports on 21 traits that are specific to the work place. The Millennial employee would take the assessment, receive a written report detailing their strengths and areas for development, think about and develop an action plan, and finally, debrief with an industrial psychologist from Psychometrics Canada. The process and results were extremely well received by the Millennial group and, while it is too early to determine any long term benefits or results, here are several key learnings: The process and the drivers behind this initiative were well received. Many participants indicated that, if nothing else, it was gratifying that their employer had an interest in their career development, plans and aspirations. The assessments were completed in a non-threatening manner. It was emphasized by the engineering firm that the results of the assessments belonged to the employee; they were not part of any permanent record. The debrief was a one-on-one session with the industrial psychologist and employees were not obliged to share the results of their assessment with anyone inside the company. The firm further emphasized that the career planning process belonged to the employee. The company would provide resources and structure but the employees were responsible to “own” their career development. So, are Millennials different in terms of career planning from previous groups? The answer seems to be quite an emphatic NO. This group wants to be supported in understanding career opportunities, as well as wanting to understand where business is going and the potential areas where they can fit in and have an impact. It turns out that the mysterious “Millennial” cohort is not so different from the ones that came before them in respect to career planning. They may communicate differently, and they certainly are more tech-savvy than previous generations, but their goals are very similar to those that came before them. Find out how Psychometrics Canada can help your organization develop effective career development programs. Contact Grant Luipasco at gluipasco@Psychometrics.com or 1-800-661-5158 ext 225. The stats used in this article were taken from: Economic Facts about Millenials, The Council of Economic Advisers, October 2014, pages 3-29.
