Feature: Millennial workers rule in SMEs

YOU’RE a millennial if you were born between 1981 and 1996.

And it is millennials who now make up most of the workforce in small and medium enterprises or businesses (SMEs/SMBs) in Malaysia, according to LinkedIn.

To be exact, 76% of SMB employees are those aged between 23 and 38, says the professional networking platform.

Such millennials, also known as Gen Y-ers, outnumber the other generations.

Gen X workers, aged between 39 and 54, make up 15% of staff in such companies, while 7% are from Gen Z, those aged below 23 and have just graduated from college. The remaining 2% are baby boomers, aged 55 and above.

With the large percentage of such young talents in SMBs, companies may have to adapt to different work cultures.

This includes “gig” work, which is doing tasks or work for a number of organisations instead of being fully employed by one company.

“We realise that millennials have a very different relationship with work.

“They look at the purpose of the companies that they want to join, and how they align with that purpose, ” says LinkedIn Asia-Pacific managing director Olivier Legrand in an email interview with Sunday Star.

He says millennials are also thinking of whether they can do the work independently as opposed to joining an organisation. This is particularly the case if they have skills related to technology, which is highly sought after today.

“People that have those skills will be in the position to choose whether to work for an organisation or choose “gigs” that they can do for a number of organisations over a period of time, ” says Legrand.

LinkedIn Asia Pacific managing director Olivier Legrand

As such, he points out that companies will have to adapt to this by creating a culture and structure to be able to employ gig workers working alongside and complementing permanent workers.

In Malaysia, SMBs make up over 90% of business establishments in the country.

Based on LinkedIn’s data, there are more SMB workers in Malaysia in information technology, marketing and advertising, hospitality, Internet, and construction industries compared to employees in larger enterprises.

On the LinkedIn platform, SMB employees are also more active in following companies for professional content.

SMB employees follow 48% more companies on average than other professionals in Malaysia.

They are also far more likely to engage with Technology topics than employees in other enterprises.

“When we talk to CEOs and entrepreneurs around the region, they are most worried about hiring the right people in this digital era.

“In Malaysia, our data shows that the fastest growing skills are Cloud Computing, User Design Experience, Data Visualisation and Data Science, amongst others.

“These tech skills have the highest year-on-year growth among SMEs and start-ups, ” says Legrand.

He foresees that companies will adopt new technologies such as artificial intelligence and automation in future.

“As such, it is important for them to have employees that have the relevant tech skills, or are willing to learn and understand the basic concepts, ” he adds.

In the long run, the biggest skills gap are soft skills such as creativity, critical thinking or leadership.

“These skills can enable people to be better prepared for emerging technologies.

“What we’re trying to do is to help companies source the best talent with the right tech skills and soft skills, ” he says.

As for the multi-generational workforce in companies, Legrand says each generation has unique sets of skills and employers will have an incredible opportunity to tap into such potential to make an impact.

“What’s interesting is that there is one common trend that spans all generations: the desire to develop and grow.

“Employers can leverage the different skills that already exist within their organisations to close any hard and soft skills gaps.

“For example, Gen Z with tech skills could share the basics with baby boomers.

“In return, the youths can pick up soft skills they might be lacking. Mentorship and matching employees with mentors gives everyone the relevant practical knowledge and real life experience to grow in their roles, ” he explains.

Employers can leverage these complementary skills, along with each generation’s unique motivations, to drive their businesses forward and increase learning engagement among employees.

But ultimately, Legrand believes that it is most important for everyone to have a growth mindset to learn.

“There can be many ways to include learning and development opportunities in daily work

“Our research tells us that lack of time is one of the main challenges facing professionals when it comes to learning.

“Watching a five-minute online course, reading an article or even listening to an audio lesson are some of the fastest and most convenient ways for anyone to pick up a new skill, ” he says.

But it is heartening to know that SMB employees in Malaysia are interested in learning and developing themselves.

“They are taking online classes on LinkedIn Learning, with courses related to “Personal Development” topping their interest, ” Legrand says.