Just like when they entered the workplace, Millennials are changing things up as they begin stepping into leadership roles. Gen Y is ready to take on new challenges as they grow professionally, calling for the end of Millennial shaming, a trend that I cover in my recent Tomorrow @Work Trends Report in conjunction with The Hartford. Related: Why Millennials Aren’t Really Lazy Contrary to some stereotypes associated with Millennials, The Hartford’s 2013 Leadership Survey shows Gen Y is motivated to make the transition and become leaders in multiple aspects of their lives.
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While the impact of Generation Y (ages 18-31) in the workplace is being considered, we are looking ahead to the next generation. Generation Z (roughly ages 7-17) is already moving the needle as consumers, particularly in technology, fashion and media, with an estimated annual purchasing power of $44 billion , according to Entrepreneur.com. Related: 6 Things You Need To Know About Onboarding Millennials The oldest members of Gen Z are starting to land their first jobs, meaning they will soon alter the generational dynamic in the working world. What will be Gen Z’s power as employees and eventually business leaders? It is important to think about this as more Millennials, aka Gen Y, are becoming managers. So far, Millennials appear to be fans of helping younger colleagues succeed. Perhaps this is because Millennials generally focus on collaborative success. This mentality often manifests itself via mentoring, such as providing college or job selection advice to younger counterparts. This is not only generous, but also a smart career move. Based on the speed and magnitude of technology innovation, Gen Z employees will no doubt have important tech skills and knowledge that Millennial senior leaders will want to leverage.