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The Rise of Millennial Intrepreneurs and Innovators

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We all know that Millennials are not afraid to challenge the status quo across different sectors and industries. This generation of professionals is curious, and they ask questions, even of their employers. They want to understand the ends to a mean. They don’t simply want to be told to create a report. They want to understand how this report will impact them, their boss and the overall company. Previous generations were much more inclined to clock in and out and do the work expected of them. This blinders-on approach is becoming obsolete thanks to Millennials’ strong embrace of intrapreneurship.

What exactly is intrapreneurship? It’s essentially acting as an entrepreneur but within a large company. Intrapreneurship means going well above your set job description as an innovator and problem-solver.

By taking the intrapreneurship route, Millennial employees are showing their bosses they're invested in the company's goals and prepared to help guide its success. It’s also a way to prove that they are self-starters who have leadership potential. Intrapreneurs are looking outward and taking risks through innovation. 

“The time we’ve spent observing this generation continues to prove how unique and different they are from the generations before them," says Joyce Russell, President, Adecco Staffing USA, of the report insights. "Work is personal to them, a direct reflection of their own ethics and values, so it’s no surprise they hold entrepreneurial skills in their wheelhouse. 

"As well, Millennials want to be involved, they want to know that their opinions matter and they want to be communicated with," she adds. "The best way employers can take advantage of this is to set up professional development programs, whether that’s acting as a mentor, installing an apprenticeship program or hosting open-forum style brainstorms that empower them to share fresh perspectives."  

In addition to professional development programs, there are many different types of ways Millennial employees can affect change in large companies.

According to the Levo Institute and the Adecco Millennial Economy Report, 48 percent of Millennials identify technological and resource needs and take steps for their employer to provide them.

It’s no surprise that nearly half of Millennials feel comfortable recommending tech tools and software to their managers. Raised in the digital era, they are adept at using technological tools to increase efficiency and streamline processes.

Millennials have the ability to view businesses with a fresh perspective and aren't afraid to challenge norms to effect change. In fact, as stated in the report, 39 percent tell their employer what they think they need to do to improve morale.

The Millennial generation has received flack claiming they are job jumpers who are always looking for a better opportunity. But, according to Levo Institute's survey, 47 percent anticipate sticking with their current employers for more than 3 years, with 30 percent expecting to stay with their current employers for more than 5 years.

What's key for retaining the workforce is development. 74 percent of Millennials rate Learning & Skill Development Opportunities as crucial to job satisfaction.

Millenials need to be challenged in their jobs and look to opportunities for growth in an environment that fosters their potential.

Management needs to foster an open workplace where their professionals can think creatively and critically on how to improve your business. They need to encourage their teams to brainstorm and develop several approaches to a presentation, partnership, event or product launch.

Millennial employees are changing the culture and nature of work. Their potential to innovate and contribute is enormous. And the more companies invest in their potential, the more invested they become as leaders and innovators.

(Image by Getty)

Topics:

Entrepreneurship Levo Institute #Millennials
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Join the conversation:

Personal and professional development are crucial to career advancement and fulfillment.

Absolutely true. Solid article. #ProfessionalDevelopment #GrowthMindset

I've never heard of this term, but I can totally relate to it! I've been interested in trying new things within my 9-5 and thankfully have received encouragement and positive feedback on the impact I'm making.

So true! I can totally relate! Afterall it's about making impact.

I can relate! I want to do better and help my organization do better. The only way to get there is to understand and believe in the "why" and "how."

Just shared this article with the Rising Leaders Forum within Booz Allen. This is so on point with the conversations among our Millennial talent right now. Adding intrapreneur to my professional description right now!

As a boomer (yes, that means I'm old!), I'll say 2 things: 1) there are good and bad characteristics in every generation, and 2) for overall team well-being and innovation, I'll take the best of the millennials over the best of any other generation


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