U.S. Millennials (born after 1981) entering the workforce are profoundly challenging the way employers communicate, manage and organize resources. A resulting paradigm shift within American and multinational organizations is almost certain. Understanding young people in other parts of the world helps us to see how they also impact the shift. Here are some interesting facts about 18-25 year-olds in Asia:
- A Business Week survey of students at China’s top MBA programs revealed an unprecedented drive for managerial excellence, Chinese style. Over 25% plan to start businesses in the next five years and the majority intends to pursue careers in China instead of the previously coveted U.S.
- SHRM reports that the median age of India’s workforce is 25. Fewer than 12% have college degrees. With employee attrition as high as 70% in some industries, entry-level workers are successfully commanding high salaries and responsibilities seemingly disproportionate to their skill sets
- The Bank of Japan Review reports that excess employment by older Japanese workers has caused a high rate of unemployment and part-time employment among younger workers. Without full-time job opportunities right out of school, a growing percentage of Japan’s youth are being displaced from the traditional career systems found in most Japanese organizations and may never catch up.