A Review: How Millennials are Redefining Leadership

I read Dylan Taylor's article on How Millennials are Redefining Leadership and I wanted to share my two cents in the matter, especially being defined as a "Millennial" myself. 

I too had read Deloitte's survey done by peers my age and I have to agree with those of my generation. "For six in 10 Millennials, a “sense of purpose” is part of the reason they chose to work for their current employers" was immediately noted by the survey. Millennials have a desire to find not only balance but feel whole in all aspects of our lives. Why just be fulfilled in one area of who you are as a person when you can not only feel but be apart of something much larger than oneself. 

Another point the survey examines is the view on how an organization treats its employees. They evaluate the leadership of a company on how the employees are compensated, their impact on society as a whole, and the overall purpose of a company. While most Millennials will be thankful to have a job alone in this wilting economy, one thing is for sure: they want to work for a company they believe in and one that believes in them.

Millennials want companies to work for that invest in them. They want a greater focus on employee growth & development as well as the employee's well-being. And, they want that company to do more than just make a bottom line: they want them to give back to their communities. Not just a charitable donation - they want companies to invest and serve the communities they are involved with.

After reading about Millennials and Wage Gaps, The Pew Research Center found not only are Millennial women's top concern about the difference in pay between them and their male counterparts in the workplace, they also feel having a family limits their career opportunities for advancement. Considering currently, women account for 47 percent of the U. S. workforce, some still feel that changes will need to be made.

Back in 2014, Virtuali  conducted a series of studies, first being Engaging Millennials Through Leadership Development. While it explored the need a Millennial has "for not missing out" on the world and life around them, it fails to point out Millennials are looking for innovative positions to not work as their parents did  in an overtime 9-5 pace missing out on vital parts of their lives. Millennials want more out of life, and they are finding new and improved ways of living outside of the cubicle. Millennials often display a wanderlust attitude; the ability to travel internationally without giving up one's career is a big draw.

Millennials look at leadership in a holistic way. They do not see just a boss and upper management team, they see a relationship. It is a networking opportunity to grow and develop their skills. They don't see respect from simply a title - its one's own experiences and expertise they find value in. They want to 'learn by doing' and they want mentoring from their leadership to provide challenges for learning and advancement.

I think with the innovation and ideas Millennials have for business, it is only a matter of time until business will have to redefine not only their leadership but find new ways of fostering development for Millennials. By looking a broader aspect of beliefs and a new business model, the organizations can empower Millennials in a new workplace culture to build a better set of core values.

Loyalty to a Company: Is it Overrated?

I've often been told that my time with my current company is considered a rarity among those my age. Most of these young professionals like myself- coined as the group of "millenials"- have often moved to various companies and jobs over a variety of industries. Most often we find those millennials often do not stay with a company past a few short years. I often ask why that is, and I've received a few different answers.

I could not advance within my position. Now, this I am all too familiar with. You land a great job and after some time, you consider the option of staying long-term. But, as many have found, you hit the 'invisible' ceiling and realize there is no possible chance for advancement so you move on. Most millenials choose to not search within their current company for other job opportunities. And, unfortunately, these companies aren't looking to their younger employees as their future customers and therefore as a millennial leaves, so does that opportunity to get a more fast-forward approach in their market.

I was bored with my job- it made me feel old. The key for most companies is to find individuals that can fulfill their needs. But, what about the needs of the employee? Most people can admit they often find lackluster in their day-to-day positions. From the mass of e- mails, multiple meetings, piles of paperwork, and the like, most feel the mundane of the job. But what about your personal gratification- does one feel fulfilled after they complete their day? Often times not. This is where technology advancements, new ways of thinking and innovation come in to make the position more efficient. Most millennials these days are looking for a connection not only with their position, but also with their colleagues.

I didn't feel valued or appreciated - I was just a number. The larger the company, the less the individual, I always say (and you can quote me on that). Most companies care about numbers, bottom lines, and how they profit at the end of the day. Companies do not care about the individual or their happiness, so millennials have chosen to not work for these Fortune 500 companies. You will find most attempting their own startup business, or even Blogging and YouTubing their own brand in attempts to find another way of creating steady income. Most aren't looking for the old 9 to 5 work hours- they want the work-life balance their parents often sacraficed.

While it is in my opinion that loyalty can have its rewards, often those efforts go unnoticed by large corporations. While some may be quite content with their current endeavors, one cannot overlook the change that is coming forth as a result of the millennials hitting the workforce in full stride. Unless these larger companies come to terms that times are a-changing, when the largest group of baby-boomers finally retire, they will not see the workforce numbers they once had. The "normal" job may never be the same.

Impact of ICD-10 in the Healthcare Community

Effective today, the ICD-10 Medical Coding system has been implemented in the healthcare industry. Over 68,000 new codes were added, to include more detailed specifics regarding diagnosis as well to include  multiple parts and systems of the body. With one exact code, not only your doctor but your healthcare provider can know exactly what your diagnosis is related to.

While the World Health Organization (WHO) had initially started working on ICD-10 in 1983, the updated code was not completed until 1992. The United States had initially had the implementation date set a year prior, however, due to certain setbacks, it has been pushed back twice. As a result of the setbacks, time was allotted for healthcare officials and administrations to create training for staff, and allow testing of new software to be completed. As a result, most companies implement new processes and procedures to ensure when the deadline hit, the transition would be smooth. However, most physicians offices had been lagging behind and were not prepared for the transition from ICD-9 to ICD-10.

Claims and billing processes tend to be of the highest concern for most dealing with the ICD-10 coding transition. With the fear of claims being denied for services rendered due to incorrect coding and poor documentation, most healthcare providers are concerned if they will be reimbursed.  Linda Girgis, M.D., a practice owner of Girgis Family Medicine in South River, N.J. notes "In order for everything to go smoothly, there has to be compatibility between the practices, clearinghouses, and insurance companies. So, I think we’re going to see some mapping errors where things don’t get transmitted correctly and there will be some corresponding delays." Many providers fear payment delays will interrupt their revenues and most doctor's are quite pessimistic about the new implementation. Dr. Jarrett Dodd, a physician at Central Virginia Family Physicians in Forest, said “The worst part of this for me is I think this is a waste of time." He continues "I think this whole thing is really not for the benefit of the patients; I don’t think it’s for the benefit of patient care. I don’t see where it’s gonna have significant enough impact in those areas to warrant how complicated this is."Dr. Thomas Eppes, who works with Dodd at Central Virginia Family Physicians, puts it more bluntly. “This could be a financial Armageddon to a lot of people,”

Still, most of the industry is waiting to see if the implementation will go smoothly or truly cause delays. While some insurance companies are understanding of such a monumental change, others are unwilling to accept errors. Medicare is giving providers a 12-month grace period, forgiving minor coding gaffes, yet no commercial provider has offered such leniency. 

While the healthcare industry has braced for this new code which has taken 11 years in the making, it is uncertain as to whether patient-centered focus will remain for physicians. Once thing is for certain, with the addition of a new coding system, all parties are having to learn a new methodology on medical codes. Dr. Marks, a former president of the Connecticut Orthopaedic Society, states “The number of codes is exploding. On Oct. 1, we will be speaking a new language. It’s like switching to German, after speaking English for 30 years.”