Thursday, November 3, 2011

How will Millenials Change the Way Companies are Managed?

The moment man created a vehicle called a business to increase his personal net worth, he understood that the Management of this vehicle's people/resources would is critical. Hundreds of years later, the manners in which companies are managed have changed but the interest in finding effective methods remains in high demand. This is why if you go to any bookstore and you will find entire sections dedicated to the topic of 'management,' as a matter of fact, management even has its own genre.
From Carnegie to Drucker and from Scott to Gladwell, the underlying message rarely differs. As a matter of fact, each author's respective messages are quite congruent to one another, and that is "to effectively manage people you have to understand how they function."  Thus as society's general mindset evolves as each generation passes, the methods of how to manage them will evolve as well. Which begs the question; "How will companies manage its employees' once Millenials like myself start to dominate the workforce?"
Photo was obtained from http://www.flowtown.com/blog/who-are-the-millennials

I predict that The Google approach to managing employees will be even more dominant in the market place then it is now.  That is ‘provide an employee with an environment that induces and rewards high performances, but also maintains accountability for production.’ In addition, although the prototypical corporate ladder will still exist, the interaction/compensation between the different layers will differ as drastically as we value work life balance just as much, if not more than our career advancement. This will lead to many superbly qualified employees choosing to stay in their job roles instead of advancing to the next level. However, as they are 'high performers' companies will find ways to still maximize their potential without requiring the prototypical promotion.
But this is just my unqualified opinion…..