 "Preparing for the millennial workforce")
It is quite possible that in a span of a decade, roles and organisational hierarchy, as we see them today, will cease to exist. The signs of a networked non-linear organisation are already evident and those entering the workforce today will be the first to experience such organisations and make their career in them. The concept of a higher role needs to be viewed as an enhancement in terms of value offered to the firm, its clients and the individual. The organisations should, therefore, focus on making their workforce ready to take on such roles.
Today's workforce consists largely of young employees willing to embrace flexibility and change. In large organisations like Infosys, the average employee age is around 28 and millennials (people born between 1977 and 1997) account for almost 90 per cent of the workforce. The people practices that attract and retain this workforce need to be markedly different from those that were used in the past.
In order to succeed, organisations need to create frontline leaders who can collaborate, act decisively, seize opportunities, and quickly respond to changes. Given the composition of their employees, companies are increasingly looking at the huge, diverse millennial population to fulfil these requirements. Therefore, enabling the young workforce to take up higher responsibilities in a seamless manner is going to be a key competitive advantage.
So, how can organisations enable today's workforce for the challenges of tomorrow?
The business landscape of most companies is seeing rapid change. This closely mirrors the aspirations of the workforce that is willing to embrace this change and deliver results. The first action that companies have to take is continuous investment in building business acumen and market skills among its potential leaders. Exposure to key client markets and customers is the curriculum that is needed to educate future leaders.
The second key area to build on is the emotional leap that an individual needs to make to become a leader. While millennials may be willing and interested in taking on more responsibilities, they may need to build a few integral competencies that would hold them in good stead for the next few years and equip them for the new role. Agile thinking to deal with ambiguity, complexity and planning for multiple scenarios is a must. Interpersonal skills for effective collaboration, global operating ability to manage diverse groups of people, and being culturally sensitive are necessary soft skills. This also covers an important learning as leaders will have to manage people older and more experienced than they are.
Third, companies have to allow individuals to fail without letting this impact their long-term careers in the company. Unfortunately, the lessons taught by failure cannot be taught by any other means. Young leaders need to understand that failure provides valuable knowledge that prepares them for future challenges.
The fourth area to focus on is the power of networks. Networks can accelerate learning and amplify individual capabilities. Today, we can view an individual's network as a combination of business and work, making multiple linkages possible simultaneously. An organisation that harnesses the capability of individual networks in a way that is objective and transparent, is on the right track. One of the ways to assess if an individual is ready for a leadership role is to gauge the reach and influence of her network. The more intricate and far reaching the connectors are, the better is the possibility of this individual being ready for an enhanced role.
Fifth is mentoring and coaching. It is not always possible to provide individual coaching for a large group of people. While some of it can be at the individual level, group learning sessions also have good impact. What goes without saying is that experience needs to be passed on in an effective way and there is no better way of doing it than managers engaging with people through designed interventions.
Finally, coming to the work environment that companies create. Keeping a young workforce engaged requires the creation of an organisational culture that fosters fun and a less formal atmosphere. It must be one that is open to change, flexible with a focus on sharing, and innovation through dialogue. Millennials view work as a key part of life, not a separate activity that needs to be planned for or balanced.
Organisations will see individuals taking more responsibility for their career and would keep their formal skills up-to-date without necessarily relying on the company. This would mean greater demand for challenging assignments and roles. This would also mean willingness to migrate to learning assignments and companies, if the existing workplace fails to fulfil their goals. Am I continuing to learn and grow? It is a question that resonates with employees of all ages, not only with the youth.
Today's workforce consists largely of young employees willing to embrace flexibility and change. In large organisations like Infosys, the average employee age is around 28 and millennials (people born between 1977 and 1997) account for almost 90 per cent of the workforce. The people practices that attract and retain this workforce need to be markedly different from those that were used in the past.
In order to succeed, organisations need to create frontline leaders who can collaborate, act decisively, seize opportunities, and quickly respond to changes. Given the composition of their employees, companies are increasingly looking at the huge, diverse millennial population to fulfil these requirements. Therefore, enabling the young workforce to take up higher responsibilities in a seamless manner is going to be a key competitive advantage.
So, how can organisations enable today's workforce for the challenges of tomorrow?
The business landscape of most companies is seeing rapid change. This closely mirrors the aspirations of the workforce that is willing to embrace this change and deliver results. The first action that companies have to take is continuous investment in building business acumen and market skills among its potential leaders. Exposure to key client markets and customers is the curriculum that is needed to educate future leaders.
The second key area to build on is the emotional leap that an individual needs to make to become a leader. While millennials may be willing and interested in taking on more responsibilities, they may need to build a few integral competencies that would hold them in good stead for the next few years and equip them for the new role. Agile thinking to deal with ambiguity, complexity and planning for multiple scenarios is a must. Interpersonal skills for effective collaboration, global operating ability to manage diverse groups of people, and being culturally sensitive are necessary soft skills. This also covers an important learning as leaders will have to manage people older and more experienced than they are.
Third, companies have to allow individuals to fail without letting this impact their long-term careers in the company. Unfortunately, the lessons taught by failure cannot be taught by any other means. Young leaders need to understand that failure provides valuable knowledge that prepares them for future challenges.
The fourth area to focus on is the power of networks. Networks can accelerate learning and amplify individual capabilities. Today, we can view an individual's network as a combination of business and work, making multiple linkages possible simultaneously. An organisation that harnesses the capability of individual networks in a way that is objective and transparent, is on the right track. One of the ways to assess if an individual is ready for a leadership role is to gauge the reach and influence of her network. The more intricate and far reaching the connectors are, the better is the possibility of this individual being ready for an enhanced role.
Fifth is mentoring and coaching. It is not always possible to provide individual coaching for a large group of people. While some of it can be at the individual level, group learning sessions also have good impact. What goes without saying is that experience needs to be passed on in an effective way and there is no better way of doing it than managers engaging with people through designed interventions.
Finally, coming to the work environment that companies create. Keeping a young workforce engaged requires the creation of an organisational culture that fosters fun and a less formal atmosphere. It must be one that is open to change, flexible with a focus on sharing, and innovation through dialogue. Millennials view work as a key part of life, not a separate activity that needs to be planned for or balanced.
Organisations will see individuals taking more responsibility for their career and would keep their formal skills up-to-date without necessarily relying on the company. This would mean greater demand for challenging assignments and roles. This would also mean willingness to migrate to learning assignments and companies, if the existing workplace fails to fulfil their goals. Am I continuing to learn and grow? It is a question that resonates with employees of all ages, not only with the youth.
Richard Lobo
VP & Head, HRD Units, Infosys
VP & Head, HRD Units, Infosys