How the Millennials Will Affect Corporate America
It’s probably easy to imagine that the members of the Millennial generation are more inclined to diversity and less judgemental of others. However, recent reports by Pew Research Center show that Millennials are far more likely to endorse laws on same-sex marriage than older generations are. Not only that, but Social Intelligence, an international research firm, found that Millennials also place more faith in corporate social responsibility and believe in an integral role for corporations in solving global issues. The question is how will such stereotypes and attitudes be passed down to the younger generation? There are still some generational differences between Millennials and their parents. For instance, Millennials are more likely to think of caring for the planet and people as central to their identities than their parents’ generation.
The Millennials and the Judgmental Generation
According to a Pew Research Center study titled, Millennial, 18-34, and Generational Divides: How Social Bias from One Generation to the Next?, 67% of Millennials are more likely to vote for same-sex marriage than the Baby Boomers and 77% think capitalism is a better society than socialism. The findings also show that Millennials are more critical of the way older generations treat one another, social groups, and society as a whole.
Perhaps a surprising, but still stunning, finding is that 72% of Millennials, 28% of Boomers, and 26% of the Silent Generation believe that other cultures, religions, and race can coexist. Also, 67% of Millennials think that they will have gay and lesbian friends and 62% think they will live with someone of the same sex.
The fact that Millennials are more tolerant than other generations may reflect generational differences in how you conduct yourself, or how others see you. Millennials may approach the world with a greater compassion and concern for everyone, or they may be influenced by a wider variety of social experiences than past generations. In addition, the Millennials may be more exposed to social issues, and that exposure, through exposure, can generate more awareness and social change.
Who’s Left Behind?
For many young people, the concept of becoming CEO in the next generation has become a reality and social change is the common goal. The idea of moving away from a white male leadership or any leadership that is largely white, is on the forefront of many Millennial plans. According to Harvard Business Review, having a diverse leadership team and having a more inclusive workplace may also be part of that greater shift.
While men remain in the top jobs, women now make up more than half of the global workforce and that number is only expected to go up. Meanwhile, a 2016 report by the Center for Talent Innovation predicted that in one year, the same number of Fortune 500 companies will be entirely made up of women. That includes the female population of Millennials. According to the report, by 2023, 51% of Millennials will be working in companies where women hold a majority of the top positions.
I don’t see millennials being so vulnerable to extreme judgment any time soon. However, one thing we should definitely all be aware of is that the statistics prove a very strong trend. Not only are we seeing more diversity, but we are also seeing a shift in the balance of power in companies. We need to keep the conversation going with corporate leaders about how to be inclusive and encourage generational diversity.