Regal unlimited continues to shape the coaching landscape in India. One of the efforts in that direction was our research on the coaching landscape in India. The research brought up quite a few interesting insights–
● ICF coaches earn more than Non-ICF coaches!
● 30% of our sample were ICF coaches younger than 35 years of age! Can we actually say that coaching is a grey haired profession?
● Life Coaching, Career Coaching and Executive Coaching are the top 3 popular niches. Another figure in this study caught our attention which is the subject matter of this blogpost- Millennial Coaching.
Trends of Millennials at Workplace
Some of the trends of Millennials at the workplace are worth noting. These insights are from a study conducted by PwC titled- Millennials at Workplace
Loyalty-lite
● 54% of Millennials feel that they will have 2 to 5 employers in their lifetime.
● A little over 25% expect they will have 6 or more employers in their lifetime.
A time of compromise
● 72% of millennials feel that they have made some compromises to get employed. Voluntary turnover will increase as economic conditions improve.
● 38% of millennials said they were actively looking for a different role.
● Only 18% expect to stay with their current employer.
Development and Work-life balance
● Millennials are committed to personal learning and development and this trumps financial reward as their first choice benefit from employers.
● Second priority is flexible working hours.
● Cash bonuses come in at a surprising third place.
Work-life balance and diversity promises
● 28% feel that their work-life balance was worse than what they had expected before joining.
● Over 50% said that while companies talk about diversity, they did not feel that opportunities were equal for all.
Techno-generation
● 75% of millennials believe that access to technology makes them more effective at work.
● Technology is often a catalyst for inter-generational conflict and many millennials feel held back by the rigid or outdated working styles.
Moving up the ladder
● Career progression is the top priority for millennials who expect to rise rapidly through the organisation.
● 52% of millennials said this was the main attraction in an employer.
● Competitive salaries came second with 44% of millennials’ response.
Power of employer brands and corporate responsibility
● Millennials are attracted to employer brands that they admire as consumers.
● Over 50% (as against 88% in 2008) of millennials look for employers with CSR values that matched their own.
● 56% (as against 86% in 2008) of millennials would consider leaving an employer whose values no longer met their expectations.
Wanderlust
● 71% of millennials expect and want to do an overseas assignment in their career.
Generational Tensions
Millennials say they are comfortable working with older generations and value mentors in particular. But there are signs of tension.
● 38% of millennials said that the older senior management does not relate to younger workers.
● 34% of millennials said that their personal drive was intimidating to older generations.
These numbers provide a very interesting insight- Millennials value work-life balance, learning, career progression, travel and technology. As employers, companies need to satisfy these needs if they intend to retain the millennial workforce. Employer loyalty is coming down with each generation. Coaching can help address the root of the issue.
How Millennial Coaching can help
We are aware of the expectations that millennials have at the workplace. What would be more empowering? To meet their expectations as per our understanding or in the manner that they would appreciate? The latter of course! A classic case of good intentions not landing in the way we would want it to.
Loyalty
We are aware of the expectations that millennials have at the workplace. What would be more empowering? To meet their expectations as per our understanding or in the manner that they would appreciate? The latter of course! A classic case of good intentions not landing in the way we would want it to.
Work-life balance
Coaching can help increase work-life balance by providing individuals, both employers and employees, with tools and strategies for setting boundaries, prioritising tasks, and managing time more effectively.
A coach can also help individuals identify and change unproductive habits and beliefs, and create a plan for achieving their goals.
Additionally, a coach can provide support and accountability, which can be helpful in maintaining progress towards a more balanced lifestyle.
Compromise
Coaching can help employers make millennials feel that they did not have to compromise to get a job by providing them with the tools and skills to negotiate for what they want and need in their roles, such as flexible working arrangements, training and development opportunities, and a good work-life balance.
A coach can also help millennials set and achieve their career goals, and identify and overcome any personal or professional obstacles that may be holding them back.
Additionally, coaching can help employers create a positive work culture that aligns with the values and expectations of the millennial generation, such as a focus on work-life balance, social responsibility, and innovation.
Diversity
Coaching can also help employers create a more inclusive and diverse culture that appeals to millennials, by providing support on how to create an environment where all employees feel valued and respected.
Furthermore, coaching can help employers learn about the millennials’ perspectives, which can help them to design and develop better programs, policies, and practices that suit their needs and preferences.
Technology
Coaching can help millennials convey the importance of technology to their employers by providing them with the skills and strategies to effectively communicate the benefits and potential of new technologies to their managers and colleagues. A coach can help millennials identify the specific
technologies that are relevant to their industry and organisation, and understand how they can be used to improve efficiency, productivity, and innovation.
Additionally, coaching can help millennials develop their presentation and persuasion skills, so they can effectively articulate the value of technology in a way that resonates with their employers, and effectively demonstrate how it can benefit the company.
Coaching can also help millennials develop a strategic mindset, which can help them understand the bigger picture and how technology fits in it, and how it can support the company’s goals, vision, and mission.
Furthermore, coaching can help millennials identify areas of improvement and to propose and implement solutions, which can help them demonstrate their leadership potential and ability to drive change.
Moving up the ladder
Coaching can help millennials move up the corporate ladder faster by providing them with the tools and strategies to identify and pursue career goals, as well as the skills and knowledge to excel in their roles. A coach can help millennials understand what it takes to be successful in their chosen
field and develop a plan to acquire the skills and experience necessary to advance in their careers.
Additionally, coaching can help millennials develop their leadership, communication, and problem-solving skills, which are crucial for achieving success in management and executive roles.
Coaching can also help millennials understand the corporate culture and politics and navigate them effectively, and develop their networking and relationship building skills, which can help them build valuable connections and mentors within the organisation.
Coaching can also help millennials identify their strengths and areas for improvement, and develop a personal brand that reflects their unique value proposition, which can help them stand out and be noticed by senior management.
Furthermore, coaching can help millennials develop a strategic mindset, which can help them understand the bigger picture and how to align their goals with the company’s goals, vision, and mission.
Power of Brands and Corporate Responsibility
Coaching can help millennials align their expectations with their employer’s values by providing them with the tools and strategies to understand the company’s culture, vision, and mission. A coach can help millennials identify their own values and how they align or differ from the company’s values.
This understanding can help millennials to identify areas of misalignment and make adjustments to align their expectations with the company’s values.
Additionally, coaching can help millennials develop their communication and negotiation skills, so they can effectively articulate their expectations to their employer, and negotiate for the support and opportunities they need to be successful in their roles.
A coach can also help millennials understand the company’s priorities and how their role fits into the bigger picture, which can help them to align their goals and expectations with the company’s overall strategy.
Coaching can also help millennials understand the company’s policies, procedures, and expectations and how they can align with them, which can help them to avoid any misunderstandings or conflicts.
Furthermore, coaching can help millennials understand the company’s expectations and how they can align their own expectations with them, in terms of working hours, work-life balance, and other factors that are important to them.
Wanderlust
Coaching can help millennials satisfy their wanderlust at the workplace by providing them with the tools and strategies to identify and pursue opportunities for international travel or remote work, as well as the skills and knowledge to excel in their roles. A coach can help millennials understand what it takes to work effectively in an international or remote
setting, and develop a plan to acquire the skills and experience necessary to advance in their careers while satisfying their wanderlust.
Additionally, coaching can help millennials develop their communication, adaptability and problem-solving skills, which are crucial for achieving success in international and remote work scenarios.
Coaching can also help millennials understand the corporate culture and politics of different countries, and navigate them effectively. It can also help them to develop their networking and relationship building skills, which can help them build valuable connections and mentors within the organisation, and identify opportunities for international assignments or remote work.
Coaching can also help millennials identify their strengths and areas for improvement and how they can leverage them to be successful in international or remote work environments.
Furthermore, coaching can help millennials develop a strategic mindset and how they can align their goals and expectations with the company’s goals, vision, and mission, and how they can create a win-win situation for both the employer and the employee.
Generational Tensions
Coaching can help resolve generational tensions at the workplace by helping millennials understand the perspectives and values of other generations, and how to communicate and work effectively with them. A coach can help millennials understand the specific challenges and opportunities that
arise when working with people from different generations, and develop the skills and strategies needed to build strong, productive relationships across generations.
Additionally, coaching can help millennials develop their communication, problem-solving, and conflict resolution skills, which can help them to navigate and resolve any conflicts that may arise between themselves and their colleagues from other generations.
A coach can also help millennials understand the company culture and how it affects the different generations and how they can align with it.
Coaching can also help millennials understand their own generation and how they can leverage their strengths to create value for the company and how they can align their expectations and values with the company’s values.
Furthermore, coaching can help millennials develop empathy and understanding of the different generations and how they can appreciate the unique contributions each one of them brings to the workplace.
Coaching with Regal Unlimited
We hope that this blog was informative and useful to you. Regal Unlimited is a pioneer in coaching, coach training and leadership development with a global footprint. We recently celebrated a decade of excellence in disrupting leadership development through coaching.
With a community of over 300 coaches, the Regal Coaches Community is one of a kind. Led by our Founder-CEO Subash CV, Regal Unlimited continues to impact lives, teams, and organisations worldwide.
Coaching believes in maximising personal and professional potential. At Regal Unlimited, we help companies scale greater heights by partnering with leaders, and teams to perform beyond the set targets by unleashing their potential.
We offer 1 to 1 coaching as well as team coaching to help employees and teams unleash their potential and perform beyond expectations.
Contact us and let us partner with you in improving employee retention rates, performance improvement, and achieving work-life integration!
