Why Helping Millennials Develop as Leaders Requires a New Mindset, by Adam Vaccaro

Part of ongoing series: How Millennials are Redefining Faith and Re-engaging Community

Organizations need to shift the mindset of what a good manager does away from hitting those departmental goals–which rely on what he calls talent consumption–to graduating employees into better positions–or talent production.

by Adam Vaccaro • Inc.

Millennials want face time with top leaders and the freedom to grow (Photo: Forbes)
Millennials want face time with top leaders and freedom to grow and are more than willing to go elsewhere if you won’t provide in-house opportunities. (Photo: Forbes)

Among the starkest data points in Deloitte’s 2014 Global Human Capital Trends report is this one: About two-thirds of companies around the world consider themselves weak in developing millennial leadership. Meanwhile, only 5 percent of companies rated themselves as “excellent” in that field.

The data comes on the heels of other reports showing trouble in leadership development programs. Among those findings: Companies are hurting themselves by failing to differentiate between high-performance and high-potential employees, and though they recognize the importance of talent development they’re not putting their money where their mouth is by investing in development programs.

If You Don’t Develop Them, You’ll Lose Them

Part of the trouble with developing young talent, Deloitte analyst Josh Bersin tells Inc., is that generally speaking, millennials approach their careers very differently than previous generations. They expect to rise fast, and if they can’t, they look for other opportunities.

Bersin’s assertion is backed up by separate data showing that just 23 percent of disengaged high-potential employees aim to stick around at their jobs, and only 55 percent of millennials say they are loyal to their companies (compared to 69 percent of other generations).

This makes it important, Bersin says, for companies to find ways to help young talent see the opportunities within their companies. He offered a few of strategies…

Read how top companies keep their best talent