But your Millennials are finding out a great truth about business – that risk takers and innovators are a good thing in theory, but in practice they usually receive a very cool reception.

”You should not wonder why innovation doesn’t happen in most organizations. For much of the journey, innovation is hard work rewarded by bad headlines” says Rick Porras et al in “Success Built to Last” (2006, Wharton School Publishing), which explores the work of successful people who have achieved extraordinary results for at least 20 years.

Porras et al define the best strategy for innovators as “tolerate the risks, feel the fear, take the brickbats, learn from failure and do what matters to you anyway”. Oh yes? GenYs may be more likely to blog bitterly about how their ideas are being ignored, and then look for another employer, or get some start-up capital and become entrepreneurs.

What your managers need to know:

Managing the Millennials is not simply an intuitive process which can be done without specific thought about the challenges which this demographic group presents.

Embedding this principle in the organization’s knowledge:

Organizations themselves can learn to become progressively more agile in response to differentness. Generational differentness is merely one part of the spectrum of human diversity.

You don’t help your organization learn to cope with heterogeneity because it is a compliance issue. You do this because it creates competence and confidence in the organization’s ability to respond easily and fluently to cultural, lifestyle and generational differences. And the result is trust, communication, agility, innovation and good business – on the bottom line. This is the kind of competitive advantage which companies like Genentech have been leveraging for years!

Great read: Dov Seidman’s How: Why How We Do Anything Means Everything…in Business (and in Life). Probably more for the serious reader of business and management books, but a great explanation of the need for reputation and trust in a transparent business world (which tech-savvy GenYs live in).

You can safely dismiss Publishers Weekly’s comment that Seidman does not explain exactly how this can be done. I wondered whether those guys live under a rock if they haven’t seen any of the last 15 years of literature and research on exactly how these strategies can be implemented!