Millennials are set to change the workforce as we currently know it. Their revolutionary outlook to work/life balance represents their passion for the fact success should not come at the expense of their social life. They really do want it all.
If there’s one thing the millennial generation has in abundance, it’s drive - but often this ambition is somewhat premature to their level of experience or skills.
In order to get the very best out of them, and ensure they are ready to fill the shoes of those higher up within your business one day, preparation is the key.
Millennials training should be a priority within every industry, but in terms of focus, here’s why improving commercial acumen should be at the top of your list in 2017.
Why focus on commercial skills for millennials training?
One thing agreed on by many recruiters and HR professional, is the lack of commercial skills within today’s millennial generation. Commercial skills are fundamental attributes within any business employee, let alone those with the potential of progressing to senior positions.
This skill set has an overarching emphasis on the running of your business as a whole, incorporating the company’s mission and aims in a commercial context and will enable each employee with the skills to have a positive impact on the business.
Commercial skills training comprises of:
Business insights, understanding the value of reporting, financial awareness, competitor awareness and perception - you can read more about these elements here.
Training your millennial workforce specifically in terms of improving commercial skills is essential when considering your businesses succession planning strategy.
Highlighting employees with the potential to have great leadership skills early on and planning for their career progression with the relevant training and guidance will help to ensure those currently at entry level are well equipped for succession in more senior roles; potentially filling executive positions.
By 2025, over 75% of the average workforce will be made up of the millennial generation, it is essential that this demographic are a key focus when considering training programmes, and particularly in terms of commercial skills - an area that the demographic as a whole tend to be lacking in.
To millennials, experience and career progression is of higher importance than salaries and pay increases, although they appreciate being well thought of with a high level salary, their real driving motivator is how an opportunity can aid their bid to success both professionally and personally, making the millennial demographic as a whole perfect for consideration in terms of succession planning.