5 Strategies for Business Owners on How to Develop Millennials into Leaders

Business owners who want to set their companies up for long-term success need to learn how to develop millennials into leaders. This requires a different approach than you may have taken with employees in the past.

Millennials are no longer kids playing video games in their parents’ basements. In fact, by the year 2025, the millennial generation (born between 1980 and 2000) is expected to make up 75 percent of the workforce. This means they’ll soon drive the future of business… whether you’re prepared for it or not. The following strategies will help you get started.

Strategies Employers Need to Know About How to Develop Millennials into Leaders

Offer a Sense of Purpose

Learning how to develop millennials into leaders begins with understanding what drives them to succeed. While financial incentives are still important, for most millennials, it’s not enough.

Many are socially conscious and want to feel like they’re making a difference in the world. In addition to adhering to their primary roles, make sure you also encourage them to pursue projects that are personally meaningful to them.

In addition, it’s helpful to give them the opportunity to adjust their role in a way that embraces their unique strengths and passions. This will give them a sense of purpose and help them feel pride in their work.

Give Them Responsibility

It’s common for millennial employees to look to their bosses for structure and guidance. However, it’s important to give them some responsibility. Challenge them to take the lead on small projects and give them the space to make decisions on their own.

When learning how to develop millennials into leaders, it’s necessary to give up some control. You’ll need to trust in your employees and allow them to make decisions without stepping in – even if they fail. This will help them develop critical thinking skills and the confidence they’ll need to be a future leader.

Offer Consistent Feedback

Members of Generation X (born between 1965 and 1980) often prefer to work independently and require little supervision. However, millennials are quite different. When learning how to develop millennials into leaders, it’s important to note that they typically prefer group activities and appreciate a significant amount of feedback.

While offering consistent feedback is a plus, it’s important to note that it doesn’t always have to be positive. Don’t indulge your employees unnecessarily. Instead, if there are things they can be doing better, let them know sooner rather than later.

When discussing how to develop millennials into leaders, it’s important to note how important it is to show them the same respect you would want to be shown to you. When offering feedback, make sure it’s done in a way that is constructive and won’t make them feel as if you’re attacking or talking down to them.

Create a Mentorship Program

Your millennial employees want to build a meaningful career. Make sure you provide them with a clear path and sufficient guidance. Not only will this help them meet their goals, but it will show them that you believe in their skills and are willing to put effort into supporting them. If you’re not sure you know exactly how to develop millennials into leaders, take the time to learn or find another leader in your company to take on this role.

Offer Professional Development

Learning how to develop millennials into leaders is critically important. However, some business owners simply don’t have the time or resources. Enrolling your millennial employees in development programs like NextGen Evolution will help them develop the skills they need to become successful business leaders.

As a business owner, it’s important to keep looking towards the future. Learning how to develop millennials into leaders is an excellent first step. Choose a few of the tips above and start implementing them right away. This will help ensure your employees’ future transitions into leadership are both smooth and successful.