Millennials: the video game generation takes on the business world

Most likely you work with a millennial. You may even be one, or your boss may be. The first generation of digital natives is already in the workforce, and they are ushering in changes, as outlined in Guido Stein's book Leaders and Millennials.

Millennials already comprise 32 percent of the global population, and predictions reckon they will make up 75 percent of the world's workforce by 2025. Many organizations are seeking to adapt their corporate culture with a view to attracting and retaining the cream of the millennial talent pool.

But what are the millennials really like? What attracts and demotivates them? What are their career expectations and how do they plan to fulfil them? How do they interact with other generations? What can they bring to businesses?

IESE professor Guido Stein, driven, by his own admission, by the need to better understand his own children, students and entrepreneurial collaborators, has compiled several years of research on the video game generation into a new book, Leaders and Millennials: A Meeting Point of Generations.

Millennials, in theory and in practice

Stein divides his text into three sections. The first addresses generational traits, particularly the influence of technology on millennials' personal, social and business relationships. This develops into a series of reflections on managing millennials: what they expect, and practices that can increase a business's appeal in their eyes (for more information, see the article "Five Keys to Manage Millennial Talent").

The second part sets out case studies (based on experiences at Microsoft, Salesforce.com and other real life examples), highlighting a generational coming-together and the decisions that can make the meeting point between generations seem an opportunity, rather than a threat.

In the final part of his book, Stein rounds up with a very personal view on the importance of teaching intelligence and character.

Intelligence is fundamental -- technology offers some fantastic resources, but these in themselves are not enough. Their "mere installation or use does not increase knowledge or happiness," warns Stein.

In terms of teaching character, the author points out that this quality will give us "the ability to withstand the adversities that life throws our way." The message applies to any generation but particularly millennials: highly skilled when it comes to technology, they are sometimes criticized for an inability to tolerate things they don't like.

A complete snapshot of millennials in the labor market, Stein's book simultaneously offers solutions for organizations wishing to increase their adaptability -- and make the most of this talented workforce.

Methodology, very briefly

The book unites a number of Guido Stein's previous research projects, including the results of a survey of 22,000 business leaders and another geared towards hundreds of universities and participants in the IESE's Executive MBA program.