Millennials likely to leave firms that they believe have ‘no future’
KUALA LUMPUR: Millennials are likely to leave companies where they see “no future”, while larger corporations should be less rigid and adapt a more transformative approach in order to retain their millennials.
“One of the reasons why millennials are leaving a company is because they see no future or they see that the company is not serving a positive purpose in the world,” said Dr Andrew White, associate dean for executive education at Saïd Business School at Oxford University.
“Some large companies are lazy, not that they are not working hard but they do the same things over and over again... The world is changing around them but they are not changing. You’ll find a lot like this, the more successful and bigger they are, the harder they find it to do something different,” he explained.
From a business school perspective White said, making the workplace more interesting in line with the transformation in the world – where younger talent could potentially see a future, could help in retaining the millennial workforce.
On another note, White also noted that in the wake of Industry Revolution 4.0, fresh graduates are less than likely to see longevity in their first job and will have to “re-invent themselves” to keep up with the technological changes around them.
Meanwhile, corporate executive director Dr Elaine Heslop said there is a growing emphasis on soft skills in the qualities that employers are looking for.
She explained that employers are now looking for qualities which were previously more relevant for the top level of an organisation, in new graduates and those with a few years of experience.
They were speaking at the launch ceremony of the Oxford Leadership 4.0 Immersive Learning Lab for Corporations developed in partnership with Malaysia training provider KPintar Sdn Bhd.