We’ve been hearing and talking about the millennials a lot, but what does it all mean? To the Society, to the profession, to your business …
The millennial generation, over 75 million strong, is transforming the workforce and the workplace. Already they make up more than one third of the workforce in the United States, and that number is growing every year.
A recent post by Justin Hayes on our other blog site, The Smoke Detector, examined what not to say to millennials. Things like “be patient,” “you’re not ready,” “that’s not how it was” and “you’re not working if you’re not here (in the office)” are all things that we have heard before or maybe even said ourselves. But they are not things that resonate with millennials.
I’m a lot older than Justin, but I thought his observations were right on target. Continue saying those things to millennials, and risk losing them. You might lose them to a competitor. We might lose them to another association. Or we all might lose them to another profession.
Millennials want change. I’ve seen it and I’m sure you have too. They want things like flexibility, recognition, inclusion and innovation. An article in Forbes magazine stated “certainly, it’s better to directly address the needs and understand the characteristics of the millennial generation than to pretend they don’t exist.” Are employers doing that? What about associations? Some are, but many are not. Yet.
Though there are stereotypes surrounding millennials, many if not most are either untrue or misunderstood. And in the end, the changes that result in responding to their needs can benefit all. The Forbes article concludes, “in focusing on the needs of the next generation, these companies are creating a better place to work for everyone.”
Alternative credentialing such as digital badges and verified certificates is one area where we can make an impression on millennials. You (as CPAs) by understanding them and accepting their value, and we (as a state CPA society) by offering them. Studies have found that millennials favor alternative credentialing to validate their skills. They’re not as interested in traditional degrees and paper diplomas anymore. They prefer portable credentials that verify their learning outcomes.
Millennials are receiving alternative credentials at colleges and universities across the nation, according to findings from a recent study by the University Professional and Continuing Education Association. Then they expect them post-graduation as well. One of the experts who conducted the survey said “what was previously thought as cutting edge is now becoming mainstream and is transforming the paths that learners take to success.”
More than 20 percent of U.S. colleges and universities are currently offering digital badges, and the state of Indiana is well represented by IU, Purdue and Notre Dame. After graduation, millennials will look to their profession and their association for their professional development needs. And their alternative credentialing preferences.
Like the trends in workplace culture and environments, other generations are likely to adapt to, appreciate, and even prefer alternative credentials. Not to mention other innovative methods, processes and devices that might be rooted in the millennial generation.
So while millennials may be driving change, they aren’t the only recipients of it. You as an employer and we as an association need to embrace millennials and the new approaches this generation represents.