A new white paper published by management consulting giant Deloitte and the Billie Jean King Leadership Initiative (BJKLD) revealed that millennials, who make up the majority of the workforce in today’s world, are shifting cultural norms and transforming the business environment by seeking innovation and collaboration.
The quest for purpose
Stemming from the analysis of three years of data collected by Deloitte, the report, titled “The millennial majority is transforming your culture,” revealed that the majority of millennials do not consider the pursuit of profit to be the highest achievement of a business and believe that businesses should rather shift their focus towards strategy and impact.
And the fact that two out of three millennials cited their organization’s purpose as the main reason why they chose to join it in the report only comes to reinforce the reality by which millennials, contrary to all stereotypes, are disrupting the status quo and perpetuating a higher business culture that can truly shape the future of the workplace by prioritizing purpose over profit.
“Millennials are seeking work-life balance. They are challenging the way work gets done and identified ‘flexible working conditions and work-life integration’ as the No. 1 way organizations would have to change if they wish to improve retention,” BJKLI founder Billie Jean King told the Huffington Post. “And although eager to serve in leadership roles, they are not committed to the traditional corporate ladder or being type casted role of previously defined leadership.”
Seeking technology and innovation
Millennials are using technology as the number one tool to materialize this purpose-driven approach. According to a Deloitte infographic illustrating the study’s findings, nearly two-thirds of millennial respondents reported using their organizations’ networking apps and social tools for instant collaboration while 80 percent agreed that further technological developments will make their working lives more fulfilling.
“Raised as digital natives, millennials look to technology to redefine how work gets done,” the Deloitte press release reads. “However, they’re impatient with the pace of innovation — one-quarter cite ‘the attitude of senior management’ as a barrier to innovation; one-third believe their companies don’t invest enough in research and development.”
For one thing, this means millennials are not passively advocating for a more innovative and less profit-driven business culture but are rather actively seeking and initiating change within their workplaces without nevertheless sacrificing their lives or compromising their well-being, which gives us hope in the future of business, society and culture in light of the socio-political struggles the world faces today.