Welcome to Westgate's weekly note and home of the 90-Day Plan, downloaded by more than 9,200 executives worldwide.
Are you a Millennial or the parent of a Millennial?
As the parent of two Millennial children--with much attention placed by the media on the performance of this generation--a short perspective is offered in this past Wednesday's blog post. It is my own opinion that Millennials face the same barriers as others in the workforce.
There are unique challenges that make this topic so critical to succession planning in many workplaces. We need to listen to and understand the values and motivators of our people in order to keep them engaged.
CEOs are working with so many stereotypes regarding Millennials. There is a perception that
this cohort of professionals is motivated by the same goals and values as one another.
I don't believe this is true, in my own experience.
According to Constance Hunter, KPMG’s Chief Economist in its Alternative Investments practice, “Millennials don’t think of themselves
as working for someone. They don’t feel tied to their employer, yet that doesn’t mean they can’t be a great asset, especially in terms of innovation. Engaging Millennials, whether by their ideas or ideals, is one way to keep them within a company instead of letting them leave or to become its competitor.”
When CEOs and their leadership teams understand the values and motivators of their employees, they can design incentives
to retain their high-potential employees, regardless of whether they are Millennials.