Unlocking The Potential

According to a recent report by Brookings, millennials will constitute 75% of the total global workforce by 2025. And, their contribution to evolving corporate environments and evolution of societies at large, cannot be missed.

- Cyrus Jalnawala

Workplaces are going through constant transformation, and the liberalization of the Indian economy in the early 90's, has only strengthened this wave. Over the years, there has been a dramatic shift in the hiring patterns, as well as employee preferences - a major by-product of this change is the diminishing of the 'hire to retire' trend, and an inclination towards a younger workforce - the millennials. Unlike their parents who would stick to the mantra of 'One life, one company', millennials are constantly looking for jobs that challenge and reward them a great deal more, than the ones being held by them. They are challenging traditional set-ups to explore and eventually excel at new opportunities. According to a report published by Morgan Stanley in 2017, the millennials have been foreseen as the largest disruptive force for the global economy in the next few years. India is at an advantage with its demographic dividend, as a significant percentage of its population falls under the age of 30. With a major chunk of the country's population in the workforce, India will undoubtedly become an economic hub for the world in the immediate future. Seamless with the digital evolution of our country, millennials thrive on realtime knowledge that goes beyond the area of core expertise. Change comes naturally to them- much like their phone and social media software which upgrades every few days. Such a disruptive ecosystem makes them better explorers, risk-takers and adapters, as compared to us Baby Boomers and Gen Xs. As organisations shift their focus towards reaching a sweet-spot for enabling millennials, the most important piece of the puzzle will be to understand why millennials are important for the workforce, and why now.