Millennial Management Style - Essay Example

Table of contents I. 3 II. Concept 3 i. Recruitment 4 ii. Work management 4 a) Company structure 4 b) Expectation 4 c) Active leadership 4 d) Teamwork 5 iii. Work environment 5 a) Schedule 5 b) Relaxed working environment 6 iv. Work benefit 6 a) Learning opportunities 6 b) Bonus 6 III. Evaluation 6 a) New Millennial Management Style of Management at Work 6 b) Evaluation of other case of Millennial Management Style at Google 8 IV. Conclusion 9 I. Abstract 80 million millennial, generations born from early 1980s and the early 2000s will fulfill the workforce soon. The portion of the millennial generation keeps increasing relatively to generation-X/cowboys generation. In 2014, 34% were millennial, 66% were older generations, and this millennial percentage will be 46% by 2022. This data shows that growing companies have adjusted their management style by implementing new millennial management to adapt to generation transformation. This is because the millennial generation keeps increasing relatively to cowboys generation. Growing companies need this millennial generation who have innovative ideas that can help them improve performance. Deciding new millennial management style is extremely crucial for maximizing generation-Y potential in the companies. Therefore, the growing companies can win the generation game because with the millennial management style they can lead their managers and employees to help them perform better in the business world. II. Concept Millennial management style is different from the conventional management style that is adopted by generation-X. The purpose of millennial management style is to satisfy generation-Y expectation in working force so that the millennial generation can perform at their best. This implementation positively impacts the future of growing company because of the rising number of generation-Y workers. The millennial generation expects active, involved leadership, income, personal enrichment, teamwork, and most importantly flexibility. Therefore, the growing companies must focus on following aspects to integrate the new millennial management style: i. Recruitment During recruitment millennial management states, their company vision is to give back to society. ii. Work Management a) Company Structure Millennial management style applies flat management structure or teamwork based roles. The old tradition of a companys hierarchy structure doesnt work effectively in millennial management as in Generation-X Company. In millennial management, everyone has the same right to express his or her aspiration and his or her need for high interaction with his or her team. b) Expectation Set clear expectation with relationship-style focus appeals to millennial employees. When the company assigns a job or project to millennial employees, they should address the expectation with clear guidelines, priority, and intention that the millennial needs to follow. A clear expectation is very useful in millennial management system; this is because a companys management can set up a deadline that the millennial employees will fulfill when they submit the project. c) Active Leadership Autocracy leadership style doesnt work effectively in millennial management. Millennial doesnt like leaders who just give instructions without having intimate communication with them; they in turn prefer active leadership because millennial employees highly value interaction with their supervisors. Millennial usually treat their leaders as their mentors, which he or she can easily talk without any boundaries. Additionally, leaders should be willing to hear their employees feedbacks d) Teamwork In millennial management, teamwork is one of the most crucial aspects that positively impacts the companys management. Most of the millennial generation like to interact with others while working, thus, engaging teamwork in the millennial management increases their productivity. Millennial likes an opportunity when they can work with others because they can exchange ideas, share notes, and helping each other out. Leading millennial employees to become team players in the company is very important iii. Work Environment a) Schedule Unlike generation-X that is thrilled to have working schedule from 9AM-5PM. Millennial prefers flexible office hours. They never want to give up their lifestyle for their careers; they value flexibility, which means the company needs to accommodate that lifestyle with different shifts, flexible hours, or even part-time work. This shows that millennial has their way to work with their schedule; they prefer to do their works when they are in their best mood. This will produce a better outcome, rather than work with the traditional schedule from 9AM-5PM. 1. Carlin, B., & Jiang, L. (n.d.). Learning Millennial-style b) Relaxed Office Environment Company provides their employee guidelines but with freedom and comfort, this means that they can go to the office without formal dress code, but casual. Furthermore, in the millennial management style, the company needs to design the office that is friendly and also provide the community room or lounge in their office. iv. Work Benefit a) Learning Opportunities In millennial management, company arranges training and seminar events; this is because millennial employees like to learn new things, not just to work. Millennial employees are not just gaining wages, but also experience. b) Bonus Millennial likes reward. Thus, it is mandatory to apply the bonus such as; paid time off and project-based bonus. III. Evaluation a) New Millennial Management Style of Management at Work Todays management trends has changed; Generation-Y starts by fulfilling the workforce altering the new millennial management style that is crucial for the growing companies to compete in the business world. I have experienced the transition between traditional to millennial management style working in growing technology company; an example is the Happy Times family entertainment center distributor who distributes arcade games, and karaoke box in Indonesian malls. In 2011, Happy Times started regenerating their employees; this led to the recruitment of more generation-Y. At first, this company attracts me because its vision is to give back to society by providing a place for family to gather. They alter their company from the traditional style to the millennial style of work management, work environment, and benefit. Work management is the most crucial aspect of the company; Happy Times transformed the hierarchy management to millennial management style that is flat-based management. Millennials expect managers to treat them not as working stiffs, not just another faceless worker, rather as people with well-rounded lives. The managers started by applying active leadership and setting up clear goals, as well as expectations. The manager went down and talked with every individual; he stated that whenever employees have a problem they could approach the manager as if they approach their mentor, the guidance from the manager helped in the produce better outcome. The manager also listened to the employees aspiration to enable him lead the company to fit in with what employees need. During my time working at Happy Times, there was a demand from employees to build a lounge in the center of the office, So employees can refresh their mind while working. Moreover, the manager led their employees to engage teamwork; this enabled them in sharing ideas in order to come up with creativity for the company. This millennial management worked effectively in improving the employees work quality at Happy Times; this is because through this the upper management builds the relationship closely to the lower level employees. This creates more sense of ownerships and loyalty for employees because employees are happy with the new management. Besides work management, the work environment at Happy Times also changed to millennial work environment styles; this included, flexible hours and relaxed environment office. In millennial management flexible hours and friendly environment, office is important to motivate generation-Y to work at their best. Happy Times changed the working hours from 9AM-5PM to flexible hours, the employees working in design, and IT department can choose their working hours as long as they finish their project on time. Workers from other departments can leave the office early if they have reached the target and expectation that the manager set up on that day. Additionally, after the manager heard the employees feedbacks on office environment, Happy times started renovating the office to become friendlier, and also allowed workers to wear casual clothes, they also built a nicely decorated lounge, and office. This created a positive atmosphere, making comfortable while working; it positively contributed to the production of high-quality products. The work benefit also changed, before Happy Times didnt provide bonuses, and learning opportunities before; they only had plain wages. This means that the employees contract only had listed wages. This changed by providing seminars to the employees, seminars such as leadership organization seminar and the motivation seminar. Happy times also started recognizing the best employees of the month, and gave bonus like brand-new laptop, TV, and even tickets for holidays. This millennial work benefits style positively impacts the employees performance as they are extra motivated to work beyond their limit companies that adopt the new millennial management perform better in todays world because they can adapt to the generation transformation that start fulfilled by generation-Y. b) Evaluation of other case of Millennial Management Style at Google When I visited my friend at Google, he told me about his experience working in Google as an account manager. Google’s designs for their office provides a comfortable environment for their employees to work, their environments include a community center and free break. Most of the employees in Google wear casual clothes to work, the company also emphasizes on the project-based assignments, this means that the manager set up clear expectation and deadline. Google also applies flexibility in terms of working hours; Moreover, the company invested more in millennial management style, in 2009, they launched the oxygen project to train their managers to engage active leadership with their group members. They trained how to lead members using flat-based organization, and act as a mentor to motivate the members. With this millennial management style, Google becomes one of the solidest technology companies in the world, and their net income raises $7.9 billion from 2009. IV. Conclusion This shows that by changing the work management, environment, and benefit to millennial styles positively impact the companys holistic performance. I contacted the CFO last week, and they said the sales of the company went up; the ROI this year is 30% compared to last 5 years ago which was 15%, and Happy Times received a lot of positive feedbacks from customers. Additionally, Google also adopts the millennial management style that positively impact their companys performance. Reference (n.d.). Retrieved February 25, 2015, from http://www.kenan-flagler.unc.edu/executive-development/custom-programs//media/DF1C11C056874DDA8097271A1ED48662.ashx Abstract Google: Annual net income 2014 | Statistic. (n.d.). Retrieved February 25, 2015, from http://www.statista.com/statistics/266472/googles-net-income/ Googles Management Style. (n.d.). Retrieved February 25, 2015, from http://www.slideshare.net/jmrvn95/googles-management How to Manage Millennials: Let Them Do Whatever They Want. (n.d.). Retrieved February 25, 2015, from http://www.cio.com/article/2376318/staff-management/how-to-manage-millennials--let-them-do-whatever-they-want.html Jacoby, M. (n.d.). How Is Your Small Business Managing Millennials in the Workplace? Retrieved February 25, 2015, from http://www.huffingtonpost.com/margaret-jacoby/how-is-your-small-busines_b_6171646.html Carlin, B., & Jiang, L. (n.d.). Learning Millennial-style. Karsh, B., & Templin, C. (2013). Manager 3.0 a millennials guide to rewriting the rules of management. New York: AMACOM, American Management Association. Read More