Unfortunately, the fact that many businesses are simply unsure of what to do in terms of millennial leadership development is a sad reality. Department stores, luxury products, and casual dining chains are just a few of the businesses that this generation has been held responsible for losing ground to. Companies are scrambling to discover why it has been so difficult for them to meet the needs of millennials.

Companies must go beyond conventional monetary incentives (though they are still vital) and provide socially conscious young people with a feeling of purpose and pleasure in the work they do in order to produce and maintain exceptional Millennial leaders. There are many ways a corporation can support employees in developing a sense of purpose.

Companies must seriously commit to diversity and inclusion. This entails not only improving the organization's diversity in terms of colour and gender across all levels, but also fostering an environment that is really open to various viewpoints and views. Therefore, learning efforts geared toward Millennials should have a good mix of subjects that represent their passions and interests as well as fundamental abilities like strategy and commercial acumen, which are still essential in developing great leaders.

Although millennials often have greater confidence in their soft skills, they occasionally need to be challenged in order to improve their abilities and perspectives. The faster improvements and development can occur, the more frequent and helpful the feedback is. A millennial will have lost three to six months of development time if they had to wait that long to learn they could be doing something better.

Working from home, remote work, and flexible hours are just a few of the benefits offered as standard in many of the more recent businesses that millennials find most appealing. Additionally, it's crucial to make sure firm policies make sense. The days of employees adhering to rules because "that's simply how it is" are long gone. Many millennials are prepared to make compromises, such accepting lower income, to achieve a better work-life balance.. These people are extraordinary because they have a mental memory bank of people, resources, ideas, businesses, experiences, and more that comes to life when their abilities are needed, not because they know a lot of people.

In order to expand their network with quality people, external organisations, and quality resources, collaborative leaders will also go outside of their company. They will look to network in adjacent industries, strategic places, growth cities, and industry associations in addition to consumers, suppliers, and leads. They will accept a variety of diverse regardless of age, ethnicity, culture, disability, or origin.

Organizations have trouble with skills becoming outdated, complacency setting in, and the possibility that what worked in the past may no longer be the case in the future. Tools and software are updated, technology advances, and attitudes shift. A collaborative leader or organisation using this CL strategy will regard upskilling and culture training/change as a crucial component of futureproofing the business in order to address all of these concerns.

In a process of broadcasting latest findings and trends in entrepreneurship International Journal of Entrepreneurship (IJE) aims to cater to the needs of higher managerial cadres in the business and industry. IJE  is an open access professional journal that covers a wide range of Business topics in this field globally.

To submit manuscript scholars, researchers and students in this field can send an E-mail attachment to the Editorial Office at: intenterpreneurs@abacademies.org

Best Regards,
Journal Co-ordinator

International Journal of Entrepreneurship