Millennials are a generation with many labels. Some are worn proudly, such as resilient, expressive and open-minded, but others are slapped on with bias, including entitled, self-obsessed and inattentive.
Either way, millennials are the largest generation in the workforce, currently making up 40 per cent and on track to account for 75 per cent by 2025, according to the 2020 Global Talent Trends report by LinkedIn.
Millennials are classified as those born between 1981 and 1997. This means that the oldest millennials will be turning 40 this year. Even though 89 per cent of talent professionals say a multigenerational workforce makes a company more successful, most companies are disproportionately focused on millennials and Gen Z, given their digital skills.
Millennials are the children that Time magazine in 2013 described as “technology-addled narcissists”, but almost a decade later, this generation is reaching senior management positions and building new teams and systems.
If you are worried about the pre-conceived negative notions surrounding millennials, it is reassuring to know that it is these very labels that could save our workforce.
Stubborn? Yes – for accountability
Resilience remains their hallmark. A 2021 Deloitte Global survey looked at more than 14,650 millennials and showed that despite the most challenging event in recent years, they remained steadfast in their desire to be heard.
With extreme climate events, the economic impact of the Covid-19 pandemic and a charged sociopolitical atmosphere globally, this is the generation fighting every day to compel change in society and the world of work.
On a mission for accountability, millennials are most likely to call out racial and sexist profiling and eschew companies and employers whose actions conflict with their values. This is the generation that is helping us to stay relevant and inclusive, and also to replace outdated perspectives.
Millennials are most likely to call out racial and sexist profiling and eschew companies and employers whose actions conflict with their values
Arda Atalay
Job-hopping is inevitable
Millennials are not job-hoppers – when considering historical context. LinkedIn data shows that the current average job tenure of a millennial is half that of a Gen Xer (those born between 1965 and 1980). However, that has more to do with where they are in their career than an inclination to be flighty.
The Pew Research Centre, a non-partisan think tank, examined historical data in the US and found that, when adjusted for age, millennials were just as likely to stay at their jobs as Gen Xers when they were the same age.
It is important to note that the job market today is not what Gen Xers and Boomers would remember – riddled with golden opportunities and hefty pensions. Now, job-hopping is inevitable.
Moreover, the increased movement between jobs early on in someone’s career is not out of the ordinary. Having more time to find an ideal job is a bonus for recruiters and hiring managers as the employee will be committed to an organisation to create work in an environment that they believe supports their perfect job requirements.
Millennials are addicted to technology – but is that a problem?
Growing up during key technological shifts means there was seldom a time when millennials were not surrounded by technology. With the launch of companies such as Google, Instagram and Netflix between 1998 and 2007, it seems unlikely that another generation (including Gen Z) will experience changes of this magnitude at this volume any time soon.
We have no choice but to keep up with technology. Having the “middle” generation instinctively understand new technology and systems reduces the cost and time it takes to train and integrate it into the workforce.
New research also shows that every generation is investing in time to pick up new skills. The skills that millennials have in the highest proportion are Adobe Photoshop, data analysis and AutoCAD, compared with Gen X, where sales management, new business development and programme management come up as the most prominent, according to data.
Millennials are not passive
It is 2021 and it has never been easier to work from home, earn a good living and make time for yourself. The shift to this new way of work is why it seems as though millennials are not making the same sacrifices as previous generations.
The reality of millennials, however, paints a different picture. This generation has launched twice as many businesses than Boomers and these young managers are successfully leading large teams in a never-before-seen competitive market.
As we critique and create the future of our workforce, it is important to note that the only way forward is to allow generations to blaze their own path, rather than have them follow in our footsteps. All previous generations challenged the values of those before them. Millennials are no exception and they seem to be doing it just fine.
Arda Atalay is the head of the Mena private sector at LinkedIn Talent Solutions
Essentials
The flights
Whether you trek after mountain gorillas in Rwanda, Uganda or the Congo, the most convenient international airport is in Rwanda’s capital city, Kigali. There are direct flights from Dubai a couple of days a week with RwandAir. Otherwise, an indirect route is available via Nairobi with Kenya Airways. Flydubai flies to Kinshasa in the Democratic Republic of Congo, via Entebbe in Uganda. Expect to pay from US$350 (Dh1,286) return, including taxes.
The tours
Superb ape-watching tours that take in all three gorilla countries mentioned above are run by Natural World Safaris. In September, the company will be operating a unique Ugandan ape safari guided by well-known primatologist Ben Garrod.
In the Democratic Republic of Congo, local operator Kivu Travel can organise pretty much any kind of safari throughout the Virunga National Park and elsewhere in eastern Congo.
ONCE UPON A TIME IN GAZA
Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi
Directors: Tarzan and Arab Nasser
Rating: 4.5/5
Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
MATCH INFO
Inter Milan 2 (Vecino 65', Barella 83')
Verona 1 (Verre 19' pen)
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
JAPAN SQUAD
Goalkeepers: Masaaki Higashiguchi, Shuichi Gonda, Daniel Schmidt
Defenders: Yuto Nagatomo, Tomoaki Makino, Maya Yoshida, Sho Sasaki, Hiroki Sakai, Sei Muroya, Genta Miura, Takehiro Tomiyasu
Midfielders: Toshihiro Aoyama, Genki Haraguchi, Gaku Shibasaki, Wataru Endo, Junya Ito, Shoya Nakajima, Takumi Minamino, Hidemasa Morita, Ritsu Doan
Forwards: Yuya Osako, Takuma Asano, Koya Kitagawa
Mobile phone packages comparison
RESULT
Shabab Al Ahli Dubai 0 Al Ain 6
Al Ain: Caio (5', 73'), El Shahat (10'), Berg (65'), Khalil (83'), Al Ahbabi (90' 2)
The five pillars of Islam
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%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ELuv%20Ranjan%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3ERanbir%20Kapoor%2C%20Shraddha%20Kapoor%2C%20Anubhav%20Singh%20Bassi%20and%20Dimple%20Kapadia%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
The Kites
Romain Gary
Penguin Modern Classics
WE%20NO%20LONGER%20PREFER%20MOUNTAINS
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Inas%20Halabi%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ENijmeh%20Hamdan%2C%20Kamal%20Kayouf%2C%20Sheikh%20Najib%20Alou%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
RESULT
Fifth ODI, at Headingley
England 351/9
Pakistan 297
England win by 54 runs (win series 4-0)
SPECS
%3Cp%3EEngine%3A%20Twin-turbocharged%204-litre%20V8%3Cbr%3EPower%3A%20625%20bhp%3Cbr%3ETorque%3A%20630Nm%3Cbr%3EOn%20sale%3A%20Now%3Cbr%3EPrice%3A%20From%20Dh974%2C011%3C%2Fp%3E%0A
