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Investing In Millennials’ Soft Skills Could Benefit The Bottom Line

There’s something missing in the Millennial generation, and it’s not master’s degrees. CEOs and employers have noticed a generational gap in soft skills, such as communication and teamwork.

The decrease is due to parenting styles and the generation’s deep immersion in technology.

As a result, Millennials haven’t had the opportunities to fail in order to form resilience, and their reliance on instant gratification and self-centeredness from social media impact long-term goals and interpersonal relationships at work.

Now, it might be tempting to ignore this soft skills deficit, but about thirty-five percent of the U.S. labor force is made up of Millennials — surpassing Generation X. Consequently, ignoring Millennials’ needs could jeopardize your company’s current and future success. As a CEO, it’s time to take your part in addressing these areas of improvement.

Why CEOs Must Invest in Soft Skills

A VP at a security firm that I’ve worked with says that her younger employees are smarter, but they struggle to think through ambiguous situations and make decisions.

Soft skills help make up an individual’s emotional intelligence and also account for ninety percent of promotions.

In turn, the reality for CEOs and their Millennial employees is clear: Simply getting by on hard skills means you’re falling behind.

According to PricewaterhouseCoopers’ “CEO Survey,” seventy-seven percent of respondents believe that the biggest threat to their businesses stems from underdeveloped soft skills.

After all, not striking a balance between soft and hard skills can limit businesses from maintaining a competitive advantage. In short, consumer attention and money will go elsewhere.