Group Benefits
Millennials
Tomorrow’s Leaders Today
April 2014
By Lindsey Pollak
Generation Y is 80 million strong. Also known as
Millennials, these 18- to 31-year-olds are revolutionizing
the workplace today and changing the face of leadership tomorrow.
Companies can no longer wait to tap into this huge, growing pool
of American talent.
Leaders Today
The Hartford’s 2013 Millennial Leadership Survey¹ found 78 percent of Millennials
consider themselves to be a leader today. Only 22 percent of those surveyed said
they’re not a leader.
78% of Millennials
Where are they leaders now?
consider themselves
to be a leader today.1
64%
family/friends
35%
50%
personal interests/
hobbies
business/workplace
36%
school/education
24%
sports/athletics
Why do so many Millennials perceive themselves as leaders?
Is this a generation of entitled, overconfident narcissists as some experts
suggest? No. Millennials are the most educated and tech savvy generation in
history. They have grown up with a global perspective and access to the World
Wide Web literally at their fingertips their entire lives. Yes, many are supremely
confident, mostly because they’ve been empowered by parents, teachers and
coaches to make decisions like leaders for most of their lives. Also consider that
today’s high-tech, globally interconnected world offers more opportunities for
young people to be leaders than previous generations.
continued
thehartford.com/tomorrow
Group Benefits
How can you use all of this to your organization’s advantage?
Give Millennials leadership opportunities. Give them a Gen Y task force to lead.
Designate them as your health champions. Invite them to crowd source a decision
about employee benefits, such as what new benefit should be added. Hold a hack
day focused on solving a benefits problem, such as how best to communicate
and enroll their peers.
Tomorrow’s Leaders
Gen Y leadership dreams are not a fleeting goal. Nearly three-fourths (73 percent)
of Millennials in The Hartford’s 2013 Millennial Leadership Survey said they aspire
to be a leader in the next five years whether they feel like leaders today or not.
Where do MILLENNIALS want to be leaders?
The No. 1 spot
They also want to be a leader:
where Millennials
want to lead is:
51%
Nearly 73% of
Millennials
said they aspire to be a leader in
the next five years whether they
feel like leaders today or not.1
40%
among family/
friends
in personal
interests/hobbies
32%
31%
63%
in the workplace
at school
in the community
What do these leadership ambitions tell us?
Millennials are re-defining adulthood – and the American dream. Millennials
do not simply want to be successful in their careers. They want to lead in their
personal lives as well. They are not interested in only money but enjoying life
experiences and making their communities – and world – a better place.
continued
Group Benefits
While this ambition is admirable, what some Millennials are missing are the tangible
skills to be successful. The smartest companies are determining leaders within
their teams now and setting up programs/networks now that will develop the skills
that they may be lacking (such as how to lead a meeting or close a deal). If you
want specific skills in your current and future leaders, then you need to offer
training/development in those areas.
When it comes to Millennials, it is critical to create a customized development
program for each person. Millennials have grown up in a customization nation in
which every individual is special. They expect everything to be personalized, even
their leadership programs and benefits. If you can’t do this in-house, turn to your
vendors for help.
A Changing Definition of Leadership
Keep in mind, as well, that Millennials may define leadership a bit differently
than previous generations. Someone who “motivates or influences others to
reach a shared goal” is the top definition of a leader in The Hartford’s 2013
Millennial Leadership Survey.
Millennials SAID a leader:
MENTORS
others to reach
their personal
achievements1
The top definition of
a leader is someone
who “motivates or
influences others to
reach a shared goal.”1
achieves
his/her
personal goals1
effects
change
in the
community1
How is this different than today’s leaders?
Millennials are defining leadership as someone who mentors others, not dictates
or orders people around. This should be no surprise given that they’ve been
coached and mentored their whole lives.
This survey’s results also show Gen Y wants to make the world a better place. So, why
not help them do that? Millennials can be your company’s army of volunteers. Also,
connect the dots in terms of how your company’s products, services and people
are helping others. Do that and your Millennials will be more engaged employees.
Be sure to show how employee benefits help them achieve their personal goals.
For example, show how having disability insurance can help them on their
chosen career path or take a dream vacation in the next five years – even if they
experience an illness or off-the-job injury that prevents them from working
for a while.
continued
Group Benefits
Realistic Perspective
When it comes to comparing how their generation of leaders
compares to other generations, Millennials were split.
26%
said their generation
is much/somewhat
better as leaders than
other generations1
90% of Millennials
say Boomers bring substantial
experience and knowledge
to the workplace.2
28%
said Millennials
as leaders are
somewhat/
much worse1
34%
felt Millennials
as leaders are
comparable to
other generations1
These survey results show Millennials have a realistic perspective about their
generation’s ability to lead and they are eager for guidance. The Hartford’s
2013 research 2 shows 90 percent of Millennials say Boomers bring substantial
experience and knowledge to the workplace and 93 percent of Boomers believe
Millennials bring new skills and ideas to the team.
Create opportunities for Millennials and Boomers to mentor each other, such as
during wellness programs or benefits enrollment. Millennials can share their tech
skills during online enrollment, while Boomers can share their experience on how
benefits can help protect one’s physical and financial fitness.
Millennial Advocates
The Hartford’s 2013 Millennial Leadership Survey shows Millennials have the desire
and the confidence to lead.
Good news: You can teach someone how to email or leave a voicemail, but you
can’t teach someone to want to be a leader.
Bad news: Millennials will lead regardless of whether they have the skills or
ability to do so effectively.
Millennials are collaborative and transparent leaders. Embrace their desire to
create solutions for problems. Give them the technology and resources that they
need to lead and innovate. And give them mentors for inspiration.
Millennials want to – and will be – leaders now and in the future. Help make
them great ones. Companies that advocate for Gen Y today will lead in the
workplace of tomorrow.
continued
Group Benefits
About Lindsey Pollak
Lindsey Pollak is a best-selling author, Millennial career expert, and spokesperson
for The Hartford’s My Tomorrow campaign (www.thehartford.com/tomorrow).
She has more than a decade of experience advising both young professionals and
organizations on the changing world of work.
She is the author of “Getting from College to Career: Your Essential Guide to
Succeeding in the Real World.” Her next book on Millennial leadership, “Becoming
the Boss: New Rules for the Next Generation of Leaders,” will be published in fall
2014 by HarperCollins.
“Millennials want to – and
will be – leaders now and in
the future. Help make them
great ones. Companies that
advocate for Gen Y today
will lead in the workplace of
tomorrow.”
– Lindsey Pollak
Her advice and opinions have appeared in such media outlets as The New York Times,
Fox News, The Wall Street Journal, CNN, The Today Show, Women’s Health, NPR,
and NBC Nightly News with Brian Williams . She serves as the chair of Cosmopolitan
magazine’s Millennial Advisory Board.
Pollak (@lindseypollak) appears on several ”Best People to Follow on Twitter” lists,
including Mashable’s list of “20 Twitter Resources for Job Hunters” and Marie Claire‘s
“100 Twitters Every Woman Should Follow.” She was recently named one of the “10
Most Visionary Leaders in Career Services,” according to the 2013 Career Services
Insights Survey. Her website (www.lindseypollak.com) is on Forbes’ “Top 75 Websites
for Your Career.”
About The Hartford
With more than 200 years of experience, The Hartford (NYSE: HIG) is a leader in
property and casualty insurance, employee benefits and mutual funds. The company
is widely recognized for its service excellence, sustainability practices, trust and
integrity. More information on the company and its financial performance is available
at www.thehartford.com.
Join us on Facebook at www.facebook.com/TheHartford
Follow us on Twitter at www.twitter.com/TheHartford
The Hartford helps companies offer their employees ways to prepare for the unexpected.
A market leader in providing employer-paid and voluntary life, disability and accident
insurance, it also offers a range of absence management services. Ranked first in new
accidental death & dismemberment sales, The Hartford ranks fourth in new combined
fully insured disability and group life sales. 6
The Hartford also provides analytical and consumer education tools, along with
enhanced service and administration capabilities focused on easing benefits
administration for employers and helping to optimize enrollment results.
thehartford.com/tomorrow
The Hartford® is The Hartford Financial Services Group, Inc. and its subsidiaries including issuing companies Hartford
Life Insurance Company and Hartford Life and Accident Insurance Company. Home office is Hartford, CT.
1 The Hartford’s 2013 Millennial Leadership Survey was conducted online from Sept. 11-16, 2013 among a
demographically representative U.S. sample of adults 18-31 years of age who have at minimum attended some
college. Interviewing was conducted on behalf of The Hartford using ORC International’s Millennial Generational
CARAVAN® Omnibus.
2 The Hartford’s Benefits For Tomorrow Study was conducted via phone in March 2013 among 1,000 adults 18-64
years of age who work full time. Interviewing was conducted on behalf of The Hartford by ORC International’s
CARAVAN®.
5059i NS 03/14 © 2014 The Hartford Financial Services, Group Inc. All rights reserved.