The future the world envisioned where millennials will take over the global workforce is already here. They are the leading workforce across industries all over the world. It has been reported that by the year 2025 they will account for around 75 per cent of the global workforce. If that doesn’t dramatically alter the professional environment, then what does? Oh yes, there is the matter of the dynamic requirements of the millennial workforce that is turning organizations on their heads and making them look inwards.
Millennials born between the years 1981 – 1996 are a generation that has seen and experienced the rapid evolution of technology at an early age. So it’s not surprising that it is a tech-savvy generation. The workforce comprising of Millennial is seen to be extremely self-motivated. It has, in turn, led to a more competitive professional environment than ever before. Millennials want to put their best step forward in the professional sphere and they want to do it sooner rather than later.
Millennial traits and demands and why MBA suits them
When millennials step into the workforce they don’t often look for long term commitment or stability. In fact, according to several reports, a majority of millennials intend to leave their organizations in two years. Very few plans for a stint longer than five years. That makes organizational loyalty a rarity, which is why it might not be seen as a virtue in the future.
While professional growth remains a primary driver for millennials, they also want to work in a healthy and encouraging environment. It puts the onus on organizations to create a stimulating workplace for this vital element of their manpower. Millennials seek mentorship and it can come in the form of senior managers or programs that will benefit them in their desired career graphs.
Millennials don’t only mean business but they want to understand it on the whole as well. Their curiosity cannot be restricted to the domain they function in. They want to understand the overall impact of their contribution to the organization. Another important aspect of the millennial mind-set is that it is entrepreneurial. They want to set up their start-up at some point in their professional journeys.
There is a general perception that the millennials are the most learned generation global workforce has seen. While there might be truth backing that, it is important to note that the generation is unabashed about its quest for further knowledge. It’s particularly true for programs and learning experiences that take them towards their goals.
Accelerated MBA programs are the best fit
Millennials wish to consolidate their academic as well as professional experiences to climb the ladder of success. Accelerated management programs are an ideal fit because they are designed for aspirants with prior work experience. They build on their valuable experiences and help them realize their aspirations.
Another important element of accelerated MBAs is their time frame. For example, FORE School of Management, New Delhi offers a 15-month Executive PGDM program for middle-level professionals. This kind of executive education with campus learning as well as field experience creates a vibrant learning environment millennials seek.
Like many senior managers, academics learn, keeping the attention of millennials can be an interesting and demanding proposition. But that’s partly because the generation also consumes information and knowledge rapidly. Accelerated MBA programs offer insights into different domains including the latest industry trends at a fast pace.
Accelerated MBA programs at top B Schools across the country are often helmed by leading academics with years of experience behind them. They can cater to their pedagogies and delivery to suit millennials. Moreover, they offer an opportunity to learn from corporate gurus from different fields and network with the best in the business.
Millennials seek diversity and in fact, they thrive on it. One advantage of accelerated MBA programs is that they bring together professionals from different spheres. It creates an engaging and enriching environment that brings the best out of them. Accelerated MBAs with International Immersion programs are a bonus.
Given the nature of accelerated MBAs and millennial traits and goals, it’s not surprising that the two are a perfect match made in corporate heaven.
By Dr Jitendra K Das, Director, FORE School of Management
