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Formulating Leadership Part Irunning Head Formulating Leadership Part

The best practices that the team can cultivate to enhance the number of millennial leaders is to show amounts, show what the outcome will be. Millennials are more motivated by incentives that may come in the form of personal growth, corporate ladder climbing, and perks. The best practices for fair promotions of millennials to leadership positions will be based on standards. The organization will have fixed specifications against which it will evaluate the productivity and worthiness of employees to the organization. It is estimated that approximately 5% of leadership in this organization will exit their leadership positions in the next two years because of natural attrition.

This means that leadership vacancies will be available and will need to be filled for enhanced performance and success. Since the millennials make up sixty percent of the organization, it is essential to have more of them in a leadership position to create a balance in the organization's leadership and prepare them for the future. Employers could set up a program that allows them to rotate in jobs, if applicable, getting experience in various departments. Work from home opportunity is also a great way to capture an employee. Motivation could spur in the form of a mentorship program that allows them to see the behind the scenes workings of moving the company forward.

Employers shut down new ideas often when, in fact, your millennial employees can contribute to keeping your company abreast by offering forward-thinking ideas. Millennials are social media generation. They are the new building block of businesses. The millennials have unique skills that the older generations do not. For example, millennials know more about technology than the older generation, which gives them an advantage.

If the millennials are using the technology to generate business, that is another reason they should be considered leaders. The millennials are driven, hard workers who use their resources to help businesses. Their habits, ways of thinking, and influences come from platforms like Facebook, Instagram, and Snap-chat. Lastly, investing in any employee will usually offer a spark in motivation to do the best work. Bonuses, moving expenses, medical coverage, daycare facilities, discounts with other brands, and school reimbursements are all ways to entice your employees with corporate perks.

Explaining to senior management why they should have more millennials in leadership positions within the organization by letting them know that I understand that they are negative reasons not to have millennials on the team. With those negatives, some positives could help the company out in the long run. For instance, their influence on other millennials is more significant than those who are not in that generation. They bring youthfulness and newness to the company, which could allow for different perspectives for keeping the business in the public eye. Also, with the youthfulness comes an increase of knowledge with technical problems.

We see things like this on a daily bases where an older generation goes to their grandchild to show them how to navigate through their cell phone or how to conduct web meetings so that they can speak with other family members that are long distance. Younger employees for the most part, were not part of how past norms were set into place. They tend to look at processes in a more skeptical and objectively. Although, at first, you being in senior management, you may have a sense of micromanaging to make sure that they are performing the job adequately, they will show that they have the capability to grasp things quicker than the older generation. Of course, this comes with the proper and adequate training necessary to perform the job efficiently and effectively.

Furthermore, according to Fries, K. (2018), millennials want to be able to work in a leadership position with other leaders who value their feedback. With this feedback, they can collaborate on some ideas to further increase the profits of the company. Employees should promote based on performance appraisal where their performance is evaluated, and those who perform beyond expectations are advanced to the next rank. Also, recognition for a job well done will keep your employees on the forward track. Allowing them to be acknowledged in front of their peers and executives creates positive reinforcement.

Paper For Above instruction

Introduction

In the rapidly evolving landscape of modern organizations, cultivating effective leadership, especially among millennials, has become paramount. Millennials, comprising a significant portion of the workforce, bring unique skills, perspectives, and motivations that can significantly benefit organizational growth. This paper explores best practices for promoting millennials into leadership roles, emphasizing the importance of strategic initiatives that leverage their strengths and address potential challenges. It also discusses the rationale for integrating millennials into leadership to ensure organizational longevity and competitiveness.

Understanding Millennials in the Workplace

Millennials, born between 1981 and 1996, are characterized by their technological savviness, desire for meaningful work, and preference for work-life balance (Fries, 2018). Their upbringing in a digital world has endowed them with advanced technological skills, making them invaluable in a business environment increasingly dependent on digital transformation. Furthermore, their value system emphasizes transparency, feedback, and purpose-driven work, which necessitates leadership approaches that align with these preferences (Hughes, 2020).

Best Practices for Cultivating Millennial Leaders

Organizations must implement structured practices that facilitate the elevation of millennials into leadership roles. One key approach is establishing standardized evaluation criteria to ensure fair and merit-based promotions (Hughes, 2020). Clear performance benchmarks enable organizations to identify high-potential employees objectively. Additionally, creating rotational programs across departments allows millennials to gain diversified experience and develop versatile leadership skills (Fries, 2018).

Mentorship programs are also critical in fostering leadership competencies. Pairing millennials with experienced mentors provides them with insights into organizational strategies and decision-making processes. Such relationships build confidence and prepare millennials for leadership responsibilities (Hughes, 2020).

Furthermore, offering flexible work arrangements, such as telecommuting, reflects understanding of millennials' work preferences and can enhance retention (Fries, 2018). Financial incentives and corporate perks, including bonuses, healthcare, and educational reimbursements, serve as additional motivators, reinforcing organizational commitment to their development (Hughes, 2020).

Addressing Barriers and Misconceptions

Despite their potential, some organizational leaders remain hesitant to promote millennials into leadership due to misconceptions about their experience and maturity (Fries, 2018). However, research indicates that millennials often demonstrate rapid learning abilities and technical proficiency that exceed expectations. For example, their adeptness in social media and digital platforms can be harnessed for marketing and brand positioning (Hughes, 2020).

Leadership development initiatives should acknowledge and leverage these strengths while providing additional training to address gaps. Encouraging feedback and participation from millennials in decision-making processes can also foster a sense of ownership and engagement (Fries, 2018).

The Business Justification for Millennial Inclusion in Leadership

Integrating millennials into leadership roles is strategic for organizational innovation and future-proofing. Their influence can inspire organizational culture shifts towards agility and technological adoption. As the baby boomer generation approaches retirement, a pipeline of millennial leaders ensures continuity and succession planning (Hughes, 2020).

Moreover, their social media expertise and digital mindfulness can be instrumental in expanding market reach and enhancing brand visibility. Companies that embrace these generational strengths are better positioned to adapt to market dynamics in an increasingly digital economy (Fries, 2018).

Conclusion

To conclude, fostering millennial leadership requires deliberate strategies rooted in fair evaluation, developmental opportunities, and alignment with their intrinsic motivations. Overcoming misconceptions while capitalizing on their technological proficiency and innovative outlook enables organizations to build a resilient leadership pipeline. As organizations embrace these practices, they not only facilitate career growth for millennials but also drive sustained competitive advantage in a rapidly changing business environment.

References

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• Hughes, R. (2020). Leadership: Enhancing the Lessons of Experience. Phoenix.vitalsource.com
• K. Fries (2018). 7 Ways Millennials are Changing Traditional Leadership. Para. 8.
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