Generation Impact: Millennials & Tomorrow's Workplace - E2 Keynote Presentation 9/26/12

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It is estimated that by the year 2014, 36% of the workforce will be composed of Millennials, rising to nearly 50% in 2020. Born between 1981 and 2000, Millennials are a generation of individuals raised with technology and motivated by progress. Unlike previous generations, these individuals are disrupting traditional business models and demanding products that connect them with the world. Speed, innovation and collaboration are the key tools needed by organizations in order to keep this generation engaged. This presentation will examine the factors that differentiate Millennials from other individuals, offer insight into the unprecedented impact this generation is having on the enterprise, and detail strategies that companies may employ to transform Millennials’ unique abilities into a competitive advantage in today’s workplace.

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  • Photo: http://aaftl.com/wp-content/uploads/2011/10/F_iStock_000007431474_web.jpg
  • By 2025, 3 out of 4 workers will be millennials GLOBALLYThat’s only 13 years away!
  • For the first time in modern history, 4 generations are in the workplacePhoto Credit: http://www.business-businessnetworking.com/blog/wp-content/uploads/2011/09/buscorporate_photo_1.jpg
  • What defines a generation:Typically spans 20 yearsThey share a common ExperienceInfluenced by events, trends, and developmentsPhoto: http://studentbranding.com/wp-content/uploads/2010/02/generations.jpg
  • Source: Mike Allen and Renee Allen - www.mmc.org/workfiles/mh_physicianleadership/Generational_Differences_Chart.pdf
  • Source: Mike Allen and Renee Allen - www.mmc.org/workfiles/mh_physicianleadership/Generational_Differences_Chart.pdf
  • Source: Mike Allen and Renee Allen - www.mmc.org/workfiles/mh_physicianleadership/Generational_Differences_Chart.pdf
  • Source: Mike Allen and Renee Allen - www.mmc.org/workfiles/mh_physicianleadership/Generational_Differences_Chart.pdf
  • Photo: http://bpwusa.files.wordpress.com/2010/04/gen_y_04__001094_copy.jpg
  • Deepest recession and weakest recovery since World War II (Bloomberg)Photo:http://www.bsmpg.com/Portals/52884/images/recession.jpg
  • A Jobless rate above 8% (Labor Department)Photo: http://www.infiniteunknown.net/wp-content/uploads/2010/11/Application-For-Jobless-Benefits-Rise-Sharply.jpg
  • Student loans debt topped out over $1 Trillion this year (US Consumer Financial Protection Bureau)Average student loan debt is over $20kThe wars and Afghanistan and Iraq cost $1.3 TrillionSource: http://money.cnn.com/2012/05/31/news/economy/fed-student-loans/index.htm
  • Hyper-connected, tech savvy, entrepreneurial, collaborativePhoto: http://edudemic.com/wp-content/uploads/2011/05/mac_class.jpg
  • First generation of kids with schedules, Sheltered, Told they can do anythingPhoto: http://www.southpointefamilyresourcecenter.com/images/family-on-stomachs-smile.jpg
  • Photo: http://lssacademy.com/wp-content/uploads/2009/03/searching.png
  • The labor force as we see it today will be drastically different (show graph)We’re at the point now where Boomers are starting to retireAround 2020, Gen Y will comprise of half the working populationThis generation will dominate the workforce for the next 40 yearsBy 2025 3 out of 4 workers globally will be Gen YSource:http://www.slideshare.net/StevenDuque/33-essential-social-recruiting-stats-2011
  • Photo: http://www.recycler.com/Uploads/d4efeb5e-2891-4065-9a7f-3379bf8d50c4.jpg
  • There will be different expectations for what the workplace looks like9/10 millennials want their workplace to be social and funThe lines between personal and professional lives are blurring because of hyper connectivity (No Collar)Photo:http://blog.dreamhost.com/2010/10/26/301-moved-permanently/
  • 93% want a job where they can be themselves(No Collar)Typical trait attributed to millennials are innovative or able to think outside the box (Differences chart) Photo:http://wallpapers.free-review.net/21__LG_Mobile_Phones.htm
  • 71% want their co-workers to be like a second family(No Collar)They want their co-workers to be their friends too (chart)Photo:http://blog.roundarch.com/2009/09/18/roundarch-takes-the-field-in-the-american-cancer-societys-second-annual-corporate-softball-invitational/
  • Millennials are fundamentally differentHalf of millennials would rather have no job than a job they hate (No collar)Photo: http://wellnessforallseasons.com/gatherings/wp-content/uploads/2011/03/stressed-woman.jpg
  • They want to be a part of the mission and goals of the company, with 93% saying they are motivated to work harder when they know where their work is going. (No Collar)84% say “knowing I am making a difference in the world is more important to me than professional recognition” (Bentley)They want to know how their work is going to help the company accomplish its goals.Photo:http://www.mouseplanet.info/gallery/d/134984-1/Walt+and+Epcot.jpg
  • Overall they value collaboration, are ambitious, and are open to new ideas. They yearn for mentors and people to learn fromPhoto: http://leaderchat.files.wordpress.com/2012/05/bigstock-embarrassed-young-woman-holdin-15040118.jpg
  • What to do to leverage millennialsPhoto: http://images.flatworldknowledge.com/portolesedias/portolesedias-fig07_006.jpg
  • Offer workplace flexibilityFlexible hours, the traditional 9-5 is going away81% millennials think they should be allowed to make their own hoursThey believe that as long as the work gets done, the amount of time spent in the office shouldn’t matterIn their study, flexibility trumped both compensation and career progression in importance (Future Workplace)Photo: http://www.flexjobs.com/images/uploads/man_suit_laptop_floor_stretching.JPG
  • Offer workplace flexibilityFlexible hours, the traditional 9-5 is going away81% millennials think they should be allowed to make their own hoursThey believe that as long as the work gets done, the amount of time spent in the office shouldn’t matterIn their study, flexibility trumped both compensation and career progression in importance (Future Workplace)Photo: http://www.flexjobs.com/images/uploads/man_suit_laptop_floor_stretching.JPG
  • Offer workplace flexibilityFlexible hours, the traditional 9-5 is going away81% millennials think they should be allowed to make their own hoursThey believe that as long as the work gets done, the amount of time spent in the office shouldn’t matterIn their study, flexibility trumped both compensation and career progression in importance (Future Workplace)Photo: http://www.flexjobs.com/images/uploads/man_suit_laptop_floor_stretching.JPG
  • Offer workplace flexibilityFlexible hours, the traditional 9-5 is going away81% millennials think they should be allowed to make their own hoursThey believe that as long as the work gets done, the amount of time spent in the office shouldn’t matterIn their study, flexibility trumped both compensation and career progression in importance (Future Workplace)Photo: http://www.flexjobs.com/images/uploads/man_suit_laptop_floor_stretching.JPG
  • Offer workplace flexibilityFlexible hours, the traditional 9-5 is going away81% millennials think they should be allowed to make their own hoursThey believe that as long as the work gets done, the amount of time spent in the office shouldn’t matterIn their study, flexibility trumped both compensation and career progression in importance (Future Workplace)Photo: http://www.flexjobs.com/images/uploads/man_suit_laptop_floor_stretching.JPG
  • Start a mentoring and reverse mentorship programMillennials strive for constant feedback, rather than having a yearly performance review80% they want regular feedback from their managers (No-Collar)75% yearn for mentorsMost likely to resonate with Baby Boomers and Traditionalists (AARP)Older employees can pass on institutional knowledge that otherwise would be lostEmpower Millennials to reverse mentor co-works on skills that they may not have mastered (ie. Social networking)Doesn’t need to be a formal program, could be as easy as taking someone to lunch so they can absorb the tricks of the trade Photo Credit: http://www.mediasphere.com.au/files/image/24161182.jpg
  • Start a mentoring and reverse mentorship programMillennials strive for constant feedback, rather than having a yearly performance review80% they want regular feedback from their managers (No-Collar)75% yearn for mentorsMost likely to resonate with Baby Boomers and Traditionalists (AARP)Older employees can pass on institutional knowledge that otherwise would be lostEmpower Millennials to reverse mentor co-works on skills that they may not have mastered (ie. Social networking)Doesn’t need to be a formal program, could be as easy as taking someone to lunch so they can absorb the tricks of the trade Photo Credit: http://www.mediasphere.com.au/files/image/24161182.jpg
  • Start a mentoring and reverse mentorship programMillennials strive for constant feedback, rather than having a yearly performance review80% they want regular feedback from their managers (No-Collar)75% yearn for mentorsMost likely to resonate with Baby Boomers and Traditionalists (AARP)Older employees can pass on institutional knowledge that otherwise would be lostEmpower Millennials to reverse mentor co-works on skills that they may not have mastered (ie. Social networking)Doesn’t need to be a formal program, could be as easy as taking someone to lunch so they can absorb the tricks of the trade Photo Credit: http://www.mediasphere.com.au/files/image/24161182.jpg
  • Start a mentoring and reverse mentorship programMillennials strive for constant feedback, rather than having a yearly performance review80% they want regular feedback from their managers (No-Collar)75% yearn for mentorsMost likely to resonate with Baby Boomers and Traditionalists (AARP)Older employees can pass on institutional knowledge that otherwise would be lostEmpower Millennials to reverse mentor co-works on skills that they may not have mastered (ie. Social networking)Doesn’t need to be a formal program, could be as easy as taking someone to lunch so they can absorb the tricks of the trade Photo Credit: http://www.mediasphere.com.au/files/image/24161182.jpg
  • Start a mentoring and reverse mentorship programMillennials strive for constant feedback, rather than having a yearly performance review80% they want regular feedback from their managers (No-Collar)75% yearn for mentorsMost likely to resonate with Baby Boomers and Traditionalists (AARP)Older employees can pass on institutional knowledge that otherwise would be lostEmpower Millennials to reverse mentor co-works on skills that they may not have mastered (ie. Social networking)Doesn’t need to be a formal program, could be as easy as taking someone to lunch so they can absorb the tricks of the trade Photo Credit: http://www.mediasphere.com.au/files/image/24161182.jpg
  • Become Transparent & communicate more effectivelyEmbrace and encourage feedback and ideation9/10 Millennials want senior people in their company to listen to their ideas and opinionsThis can be done through ideation platforms, open forums, town halls or by roaming the hallways once in a whileCommunicate goals, it will make them work harderAs I indicated earlier, millennials are motivated to work harder when they know where their work is goingThe company benefits from their ambition, hard work and tireless labor58% of millennials would be willing to take a 15% pay cut in order to work for an organization that aligns with their values (Net Impact)Trust themThey desire to get the job done rightSome have run organizations at their universities with budgets in the millions, plan major events, coordinate and develop strategies and programs at diverse audiences (Bronson)If you show them the right way, they will followPhoto:http://www.mpiweb.org/Libraries/Magazine/employees_talking.jpg
  • Become Transparent & communicate more effectivelyEmbrace and encourage feedback and ideation9/10 Millennials want senior people in their company to listen to their ideas and opinionsThis can be done through ideation platforms, open forums, town halls or by roaming the hallways once in a whileCommunicate goals, it will make them work harderAs I indicated earlier, millennials are motivated to work harder when they know where their work is goingThe company benefits from their ambition, hard work and tireless labor58% of millennials would be willing to take a 15% pay cut in order to work for an organization that aligns with their values (Net Impact)Trust themThey desire to get the job done rightSome have run organizations at their universities with budgets in the millions, plan major events, coordinate and develop strategies and programs at diverse audiences (Bronson)If you show them the right way, they will followPhoto:http://www.mpiweb.org/Libraries/Magazine/employees_talking.jpg
  • Become Transparent & communicate more effectivelyEmbrace and encourage feedback and ideation9/10 Millennials want senior people in their company to listen to their ideas and opinionsThis can be done through ideation platforms, open forums, town halls or by roaming the hallways once in a whileCommunicate goals, it will make them work harderAs I indicated earlier, millennials are motivated to work harder when they know where their work is goingThe company benefits from their ambition, hard work and tireless labor58% of millennials would be willing to take a 15% pay cut in order to work for an organization that aligns with their values (Net Impact)Trust themThey desire to get the job done rightSome have run organizations at their universities with budgets in the millions, plan major events, coordinate and develop strategies and programs at diverse audiences (Bronson)If you show them the right way, they will followPhoto:http://www.mpiweb.org/Libraries/Magazine/employees_talking.jpg
  • Become Transparent & communicate more effectivelyEmbrace and encourage feedback and ideation9/10 Millennials want senior people in their company to listen to their ideas and opinionsThis can be done through ideation platforms, open forums, town halls or by roaming the hallways once in a whileCommunicate goals, it will make them work harderAs I indicated earlier, millennials are motivated to work harder when they know where their work is goingThe company benefits from their ambition, hard work and tireless labor58% of millennials would be willing to take a 15% pay cut in order to work for an organization that aligns with their values (Net Impact)Trust themThey desire to get the job done rightSome have run organizations at their universities with budgets in the millions, plan major events, coordinate and develop strategies and programs at diverse audiences (Bronson)If you show them the right way, they will followPhoto:http://www.mpiweb.org/Libraries/Magazine/employees_talking.jpg
  • Become Transparent & communicate more effectivelyEmbrace and encourage feedback and ideation9/10 Millennials want senior people in their company to listen to their ideas and opinionsThis can be done through ideation platforms, open forums, town halls or by roaming the hallways once in a whileCommunicate goals, it will make them work harderAs I indicated earlier, millennials are motivated to work harder when they know where their work is goingThe company benefits from their ambition, hard work and tireless labor58% of millennials would be willing to take a 15% pay cut in order to work for an organization that aligns with their values (Net Impact)Trust themThey desire to get the job done rightSome have run organizations at their universities with budgets in the millions, plan major events, coordinate and develop strategies and programs at diverse audiences (Bronson)If you show them the right way, they will followPhoto:http://www.mpiweb.org/Libraries/Magazine/employees_talking.jpg
  • Question everything you do as a business and learn to pivotIn generational theory, Millennials are considered the ‘hero’ archetype. They explore new territories fearlessly and are up for a challengeThey will question how things are doneLeverage this and use this to improve PRODUCTS, OPPORTUNITIES, STRATEGIES and/or business processesLearn to PivotStartups are great because they have learned to transform their business to surviveUse millennials natural ambition to question everything to find a better way to run your businessPhoto: http://sanespaces.com/wp-content/uploads/2011/02/Woman_business_question_photo.jpg
  • Question everything you do as a business and learn to pivotIn generational theory, Millennials are considered the ‘hero’ archetype. They explore new territories fearlessly and are up for a challengeThey will question how things are doneLeverage this and use this to improve PRODUCTS, OPPORTUNITIES, STRATEGIES and/or business processesLearn to PivotStartups are great because they have learned to transform their business to surviveUse millennials natural ambition to question everything to find a better way to run your businessPhoto: http://sanespaces.com/wp-content/uploads/2011/02/Woman_business_question_photo.jpg
  • Question everything you do as a business and learn to pivotIn generational theory, Millennials are considered the ‘hero’ archetype. They explore new territories fearlessly and are up for a challengeThey will question how things are doneLeverage this and use this to improve PRODUCTS, OPPORTUNITIES, STRATEGIES and/or business processesLearn to PivotStartups are great because they have learned to transform their business to surviveUse millennials natural ambition to question everything to find a better way to run your businessPhoto: http://sanespaces.com/wp-content/uploads/2011/02/Woman_business_question_photo.jpg
  • Question everything you do as a business and learn to pivotIn generational theory, Millennials are considered the ‘hero’ archetype. They explore new territories fearlessly and are up for a challengeThey will question how things are doneLeverage this and use this to improve PRODUCTS, OPPORTUNITIES, STRATEGIES and/or business processesLearn to PivotStartups are great because they have learned to transform their business to surviveUse millennials natural ambition to question everything to find a better way to run your businessPhoto: http://sanespaces.com/wp-content/uploads/2011/02/Woman_business_question_photo.jpg
  • Question everything you do as a business and learn to pivotIn generational theory, Millennials are considered the ‘hero’ archetype. They explore new territories fearlessly and are up for a challengeThey will question how things are doneLeverage this and use this to improve PRODUCTS, OPPORTUNITIES, STRATEGIES and/or business processesLearn to PivotStartups are great because they have learned to transform their business to surviveUse millennials natural ambition to question everything to find a better way to run your businessPhoto: http://sanespaces.com/wp-content/uploads/2011/02/Woman_business_question_photo.jpg
  • What NOT to doDon’t discount their authority about technology, collaboration and interactive mediaMost have been on facebook since it was called ‘TheFaceBook’ Treat them as if they are too young to be valuableThis is a generation that is globally aware and is more racially tolerant than their elders (Pew Research)Be condescending, inconsistent, disorganizedThis is the perfect opportunity for professional development of existing staff, and a segway into managerial roles Not doing so will turn off and contribute to them leaving the organizationDon’t ignore the changes that are happening now! In less than 15 years, they will be the majority of the workforceGive them boring work (ie. Filing, getting coffee, making copies)They see repeating tasks as a poor use of their energy and time; an example of not taking them seriouslyPhoto: http://www.sicklycat.com/wp-content/uploads/2012/01/serious-young-woman-giving-stop-gesture.jpg
  • What NOT to doDon’t discount their authority about technology, collaboration and interactive mediaMost have been on facebook since it was called ‘TheFaceBook’ Treat them as if they are too young to be valuableThis is a generation that is globally aware and is more racially tolerant than their elders (Pew Research)Be condescending, inconsistent, disorganizedThis is the perfect opportunity for professional development of existing staff, and a segway into managerial roles Not doing so will turn off and contribute to them leaving the organizationDon’t ignore the changes that are happening now! In less than 15 years, they will be the majority of the workforceGive them boring work (ie. Filing, getting coffee, making copies)They see repeating tasks as a poor use of their energy and time; an example of not taking them seriouslyPhoto: http://www.sicklycat.com/wp-content/uploads/2012/01/serious-young-woman-giving-stop-gesture.jpg
  • What NOT to doDon’t discount their authority about technology, collaboration and interactive mediaMost have been on facebook since it was called ‘TheFaceBook’ Treat them as if they are too young to be valuableThis is a generation that is globally aware and is more racially tolerant than their elders (Pew Research)Be condescending, inconsistent, disorganizedThis is the perfect opportunity for professional development of existing staff, and a segway into managerial roles Not doing so will turn off and contribute to them leaving the organizationDon’t ignore the changes that are happening now! In less than 15 years, they will be the majority of the workforceGive them boring work (ie. Filing, getting coffee, making copies)They see repeating tasks as a poor use of their energy and time; an example of not taking them seriouslyPhoto: http://www.sicklycat.com/wp-content/uploads/2012/01/serious-young-woman-giving-stop-gesture.jpg
  • What NOT to doDon’t discount their authority about technology, collaboration and interactive mediaMost have been on facebook since it was called ‘TheFaceBook’ Treat them as if they are too young to be valuableThis is a generation that is globally aware and is more racially tolerant than their elders (Pew Research)Be condescending, inconsistent, disorganizedThis is the perfect opportunity for professional development of existing staff, and a segway into managerial roles Not doing so will turn off and contribute to them leaving the organizationDon’t ignore the changes that are happening now! In less than 15 years, they will be the majority of the workforceGive them boring work (ie. Filing, getting coffee, making copies)They see repeating tasks as a poor use of their energy and time; an example of not taking them seriouslyPhoto: http://www.sicklycat.com/wp-content/uploads/2012/01/serious-young-woman-giving-stop-gesture.jpg
  • What NOT to doDon’t discount their authority about technology, collaboration and interactive mediaMost have been on facebook since it was called ‘TheFaceBook’ Treat them as if they are too young to be valuableThis is a generation that is globally aware and is more racially tolerant than their elders (Pew Research)Be condescending, inconsistent, disorganizedThis is the perfect opportunity for professional development of existing staff, and a segway into managerial roles Not doing so will turn off and contribute to them leaving the organizationDon’t ignore the changes that are happening now! In less than 15 years, they will be the majority of the workforceGive them boring work (ie. Filing, getting coffee, making copies)They see repeating tasks as a poor use of their energy and time; an example of not taking them seriouslyPhoto: http://www.sicklycat.com/wp-content/uploads/2012/01/serious-young-woman-giving-stop-gesture.jpg
  • What NOT to doDon’t discount their authority about technology, collaboration and interactive mediaMost have been on facebook since it was called ‘TheFaceBook’ Treat them as if they are too young to be valuableThis is a generation that is globally aware and is more racially tolerant than their elders (Pew Research)Be condescending, inconsistent, disorganizedThis is the perfect opportunity for professional development of existing staff, and a segway into managerial roles Not doing so will turn off and contribute to them leaving the organizationDon’t ignore the changes that are happening now! In less than 15 years, they will be the majority of the workforceGive them boring work (ie. Filing, getting coffee, making copies)They see repeating tasks as a poor use of their energy and time; an example of not taking them seriouslyPhoto: http://www.sicklycat.com/wp-content/uploads/2012/01/serious-young-woman-giving-stop-gesture.jpg
  • Photo: http://pliblog.yournextspeaker.com/uploaded_images/Coins-741466.jpg
  • Turnover: They won’t stick around waiting for you to figure out how to fix your organizationAverage worker stays 4.4 years at job (Bureau of Labor Statistics)91% Millennials expect to stay at job less than three years (Future Workplace)Average cost is $17,000 to replace median wage (ACI http://www.corporatewellnessmagazine.com/article/latest-trends-in-concierge.html)According to the Pew Research Center survey, about two-thirds of all employed Millennials say it is “very likely” (39%) or “somewhat likely” (27%) they will switch careers sometime in their working life, compared with 55% of Gen Xers and 31% of Baby Boomers (PEW)Embrace this, and try to keep them within the organizationPhoto: http://www.craftlyricalphotography.com/wp-content/themes/village/blueprint/gallery/ajaxupload/server/uploads/IMG_5793.jpg
  • Talent: Looking for advancement, and increasing their experienceNot interested in waiting forever “paying dues” to get promotion86% Looking for a job that is interesting (Net Impact)They will move on to broaden their experiencesThe cost is a loss of institutional knowledgeThere is a loss of opportunity to innovateGiven the strong personal values of Millennials, companies that provide multiple routes and timeframes to leadership will be more likely to retain talented Millennials and ultimately, build a more gender-diverse leadership team. (Bentley)Photo: http://thecoachingsource.files.wordpress.com/2012/06/mp9004265271.jpg
  • Innovation: Loss of a competitive advantageWorkers today know they can be laid off at any time. We’ve seen it happen to their parents, so we play defensively and consider ourselves “free agents” (Forbes)88% say positive culture is important or essential to their dream job (Net Impact) Millennials want a connection to the company; they want to have a sense of pride. Look at Google and tech companies. Their employees are some of the best ambassadors for their brands and products.Photo: http://www.hiscoxusa.com/small-business-insurance/blog/wp-content/uploads/2011/09/dreamstime_m_13856361.jpg
  • Photo: http://www.hob-trendtalk.com/files/Image/Project_Glass.jpg
  • Photo Credit Deloittehttp://www.corporatelattice.com/graphics_library.html
  • Photo: http://corevalues.com/wp-content/uploads/2011/11/High-51.jpg
  • Photo: http://c810422.r22.cf2.rackcdn.com/wp-content/uploads/2009/07/cisco_telepresence_3000.jpg
  • Office space is evolving to meet the requirement of this fluid set of customers. Someday, work at the corporate building will be perceived largely as a social activity within a work frame of reference and workplace design will be led by that. And that would mean a significant portion of work will be conducted at home, in public, in transit, or at a client site. (Workspace design magazine)Photo: http://4.bp.blogspot.com/_1qc4nQ28dls/TQVzXtDcZnI/AAAAAAAAARA/PnQxasNaY80/s1600/HomeOffice.jpg
  • Photo: http://imagesusa.files.wordpress.com/2012/06/kstrawinski_moreno_6819.jpg
  • By 2025, 3 out of 4 workers will be millennials GLOBALLYThat’s only 13 years away!
  • Photo:http://cdn5.howzzit.com/wp-content/uploads/2012/08/tablet.jpg?9d7bd4
  • Generation Impact: Millennials & Tomorrow's Workplace - E2 Keynote Presentation 9/26/12

    1. 1. Generation Impact:Millennials & Tomorrow’s Workplace Ed Wolf E2 Virtual Conference - 9/26/12
    2. 2. IntroductionAbout Me• Product Manager/ Business Analyst @ Time Inc.• BS Computer Engineering, RIT• 10+ years IT experience• A Millennial!Connect with me:Twitter: @EdWolfNYCBlog: www.Ed-Wolf.comLinkedIn: linkedin.com/in/EdwardWolfE-mail: Edward.Wolf@gmail.com
    3. 3. Agenda• What Defines A Generation?• What’s Shaped Millennials?• Tomorrow’s Workforce• 5 Ways to Leverage Millennials• The Cost of Inaction• Tomorrow’s Workplace
    4. 4. What DefinesA Generation? •Typically spans 20 years •A shared, common experience •Events, trends and technology
    5. 5. The Current Generations TraditionalistsOther Names •Silent Generation •Radio Babies •Greatest GenerationBirth Years Prior to 1945Current Age 67+Influences •WWII •Korean War •Great DepressionFamily Traditional nuclearTechnology AdaptedValue Family/CommunityEducation A dream
    6. 6. The Current Generations Traditionalists Baby BoomersOther Names •Silent Generation •Boomers, •Radio Babies •“Me” Generation •Greatest Generation •Vietnam GenerationBirth Years Prior to 1945 1946-1964Current Age 67+ 48-66Influences •WWII •Civil Rights •Korean War •Vietnam •Great Depression •Cold WarFamily Traditional nuclear DisintegratingTechnology Adapted AcquiredValue Family/Community SuccessEducation A dream A birthright
    7. 7. The Current Generations Traditionalists Baby Boomers Gen XOther Names •Silent Generation •Boomers, •Post Boomers •Radio Babies •“Me” Generation •Baby Busters •Greatest Generation •Vietnam Generation •13th GenerationBirth Years Prior to 1945 1946-1964 1965-1980Current Age 67+ 48-66 33-47Influences •WWII •Civil Rights •Watergate •Korean War •Vietnam •Divorced Parents •Great Depression •Cold War •Y2KFamily Traditional nuclear Disintegrating Dual income familiesTechnology Adapted Acquired AssimilatedValue Family/Community Success TimeEducation A dream A birthright A way to get there
    8. 8. The Current Generations Traditionalists Baby Boomers Gen X MillennialsOther Names •Silent Generation •Boomers, •Post Boomers •Gen Y •Radio Babies •“Me” Generation •Baby Busters •Echo Boomers •Greatest Generation •Vietnam Generation •13th Generation •Facebook GenerationBirth Years Prior to 1945 1946-1964 1965-1980 1981-2000Current Age 67+ 48-66 33-47 12-32Influences •WWII •Civil Rights •Watergate •9/11 •Korean War •Vietnam •Divorced Parents •Columbine/VA Tech •Great Depression •Cold War •Y2K •RecessionFamily Traditional nuclear Disintegrating Dual income families Blended familiesTechnology Adapted Acquired Assimilated IntegralValue Family/Community Success Time IndividualityEducation A dream A birthright A way to get there An incredible expense
    9. 9. What’s Shaped Millennials?
    10. 10. US Department of Labor
    11. 11. Crushing Student Loan Debt
    12. 12. Tomorrow’s Workforce
    13. 13. Changes In Labor Force
    14. 14. MTV “No Collar Workers” Study
    15. 15. MTV “No Collar Workers” Study
    16. 16. MTV “No Collar Workers” Study
    17. 17. MTV “No Collar Workers” Study
    18. 18. MTV “No Collar Workers” Study
    19. 19. They’re Different • Connected • Collaborative • Ambitious • Fearless • Embrace change • Hate bureaucracy • Yearn for mentors
    20. 20. 5 Ways To LeverageMillennials
    21. 21. Offer Workplace Flexibility
    22. 22. Offer Workplace Flexibility• Flexible hours, not just 9-5
    23. 23. Offer Workplace Flexibility• Flexible hours, not just 9-5• Telecommuting & Telepresence
    24. 24. Offer Workplace Flexibility• Flexible hours, not just 9-5• Telecommuting & Telepresence• Vacation time
    25. 25. Offer Workplace Flexibility• Flexible hours, not just 9-5• Telecommuting & Telepresence• Vacation time• Roth retirement plans - 401(k) & IRA
    26. 26. Start A Mentoring Program
    27. 27. Start A Mentoring Program• Millennials strive for constant feedback
    28. 28. Start A Mentoring Program• Millennials strive for constant feedback• Pass on institutional knowledge
    29. 29. Start A Mentoring Program• Millennials strive for constant feedback• Pass on institutional knowledge• Empower Millennials to reverse mentor
    30. 30. Start A Mentoring Program• Millennials strive for constant feedback• Pass on institutional knowledge• Empower Millennials to reverse mentor• Can be as informal as going to lunch
    31. 31. Be Transparent &Communicate Effectively
    32. 32. Be Transparent & Communicate Effectively• Embrace and encourage feedback/ideation
    33. 33. Be Transparent & Communicate Effectively• Embrace and encourage feedback/ideation• Share the company’s and your goals
    34. 34. Be Transparent & Communicate Effectively• Embrace and encourage feedback/ideation• Share the company’s and your goals• Communicate quickly
    35. 35. Be Transparent & Communicate Effectively• Embrace and encourage feedback/ideation• Share the company’s and your goals• Communicate quickly• Trust that they will get the job done
    36. 36. Question Everything & Pivot
    37. 37. Question Everything & Pivot• Millennials will question how things are done
    38. 38. Question Everything & Pivot• Millennials will question how things are done• Millennials want to make the company better
    39. 39. Question Everything & Pivot• Millennials will question how things are done• Millennials want to make the company better• Ask yourself ‘Do we have to do it this way?’
    40. 40. Question Everything & Pivot• Millennials will question how things are done• Millennials want to make the company better• Ask yourself ‘Do we have to do it this way?’• Pivot when theres a better way
    41. 41. What NOT To Do
    42. 42. What NOT To Do• Discount their authority about technology
    43. 43. What NOT To Do• Discount their authority about technology• Treat them as too young to be valuable
    44. 44. What NOT To Do• Discount their authority about technology• Treat them as too young to be valuable• Be condescending, inconsistent, disorganized
    45. 45. What NOT To Do• Discount their authority about technology• Treat them as too young to be valuable• Be condescending, inconsistent, disorganized• Give them boring work
    46. 46. What NOT To Do• Discount their authority about technology• Treat them as too young to be valuable• Be condescending, inconsistent, disorganized• Give them boring work• Ignore that change is happening
    47. 47. The Cost OfInaction
    48. 48. (Average time spent in a job) US Bureau of Labor Statistics
    49. 49. 86%Looking for a job that is “interesting” Net Impact
    50. 50. Millennials seethemselves as“Free Agents” Forbes
    51. 51. Tomorrow’s Workplace
    52. 52. Non-Traditional Career Paths Deloitte
    53. 53. Less Physical
    54. 54. Creative & Innovative
    55. 55. Recap Traditionalists Baby Boomers Gen X MillennialsOther Names •Silent Generation •Boomers, •Post Boomers •Gen Y •Radio Babies •“Me” Generation •Baby Busters •Echo Boomers •Greatest Generation •Vietnam Generation •13th Generation •Facebook GenerationBirth Years Prior to 1945 1946-1964 1965-1980 1981-2000Current Age 67+ 48-66 33-47 12-32Influences •WWII •Civil Rights •Watergate •9/11 •Korean War •Vietnam •Divorced Parents •Columbine/VA Tech •Great Depression •Cold War •Y2K •RecessionFamily Traditional nuclear Disintegrating Dual income families Blended familiesTechnology Adapted Acquired Assimilated IntegralValue Family/Community Success Time IndividualityEducation A dream A birthright A way to get there An incredible expense
    56. 56. Recap5 Core Attributes of Millennials:
    57. 57. Recap5 Core Attributes of Millennials:1. Connected & Tech-Savvy
    58. 58. Recap5 Core Attributes of Millennials:1. Connected & Tech-Savvy2. Collaborative
    59. 59. Recap5 Core Attributes of Millennials:1. Connected & Tech-Savvy2. Collaborative3. Embrace Change
    60. 60. Recap5 Core Attributes of Millennials:1. Connected & Tech-Savvy2. Collaborative3. Embrace Change4. Hate Bureaucracy
    61. 61. Recap5 Core Attributes of Millennials:1. Connected & Tech-Savvy2. Collaborative3. Embrace Change4. Hate Bureaucracy5. Yearn for Mentors & Feedback
    62. 62. Recap5 Ways to Leverage Millennials:
    63. 63. Recap5 Ways to Leverage Millennials:1. Offer Workplace Flexibility
    64. 64. Recap5 Ways to Leverage Millennials:1. Offer Workplace Flexibility2. Start a mentoring program
    65. 65. Recap5 Ways to Leverage Millennials:1. Offer Workplace Flexibility2. Start a mentoring program3. Be Transparent & Communicate Effectively
    66. 66. Recap5 Ways to Leverage Millennials:1. Offer Workplace Flexibility2. Start a mentoring program3. Be Transparent & Communicate Effectively4. Question Everything & Pivot
    67. 67. Recap5 Ways to Leverage Millennials:1. Offer Workplace Flexibility2. Start a mentoring program3. Be Transparent & Communicate Effectively4. Question Everything & Pivot5. Don’t discount them
    68. 68. Recap5 Attributes of Tomorrow’s Workplace:
    69. 69. Recap5 Attributes of Tomorrow’s Workplace:1. Collaborative
    70. 70. Recap5 Attributes of Tomorrow’s Workplace:1. Collaborative2. Non-Traditional Career Paths
    71. 71. Recap5 Attributes of Tomorrow’s Workplace:1. Collaborative2. Non-Traditional Career Paths3. Less Physical
    72. 72. Recap5 Attributes of Tomorrow’s Workplace:1. Collaborative2. Non-Traditional Career Paths3. Less Physical4. Creative & Innovative
    73. 73. Recap5 Attributes of Tomorrow’s Workplace:1. Collaborative2. Non-Traditional Career Paths3. Less Physical4. Creative & Innovative5. Expanded use of technology
    74. 74. THANK YOU Twitter: @EdWolfNYC Blog: www.Ed-Wolf.com LinkedIn: linkedin.com/in/EdwardWolf E-mail: Edward.Wolf@gmail.com
    75. 75. References• http://assets.aarp.org/www.aarp.org_/cs/misc/leading_a_multigenerational_workforce.pdf• http://moneyland.time.com/2012/03/29/millennials-vs-baby-boomers-who-would-you-rather-hire/• http://ethics.org/files/u5/Gen-Diff.pdf• http://www.forbes.com/sites/jeannemeister/2012/08/14/job-hopping-is-the-new-normal-for-millennials- three-ways-to-prevent-a-human-resource-nightmare/• http://pewresearch.org/millennials/• http://www.bentley.edu/centers/center-for-women-and-business/millennials-and-corporate-world• http://marshallstanton.com/2011/11/20/statistic-of-the-day-millennials-in-the-working-world/• http://pewsocialtrends.org/files/2010/10/millennials-confident-connected-open-to-change.pdf• http://www.bloomberg.com/news/2012-08-08/recession-generation-opts-to-rent-not-buy-houses-to- cars.html?cmpid=linkedin• http://www.cnn.com/2012/08/15/tech/web/teens-music-youtube/index.html?hpt=hp_t2• http://www.beloit.edu/mindset/2016/• http://www.bls.gov/opub/mlr/2005/11/art3full.pdf• http://www.shrm.org/Education/hreducation/Documents/09-0743%20Rizzo_Generations_Case_SW_Final.pdf• http://www.wmfc.org/GenerationalDifferencesChart.pdf• http://www.deloitte.com/view/en_US/us/Insights/Browse-by-Content-Type/deloitte- review/e207a920f718d210VgnVCM2000001b56f00aRCRD.htm• http://money.cnn.com/2012/05/31/news/economy/fed-student-loans/index.htm• http://www.slideshare.net/StevenDuque/33-essential-social-recruiting-stats-2011• http://www.corporatewellnessmagazine.com/article/latest-trends-in-concierge.html• http://www.corporatelattice.com/graphics_library.html
    76. 76. Photo Credits• http://aaftl.com/wp-content/uploads/2011/10/F_iStock_000007431474_web.jpg• http://www.business-businessnetworking.com/blog/wp-content/uploads/2011/09/buscorporate_photo_1.jpg• http://studentbranding.com/wp-content/uploads/2010/02/generations.jpg• http://bpwusa.files.wordpress.com/2010/04/gen_y_04__001094_copy.jpg• http://www.bsmpg.com/Portals/52884/images/recession.jpg• http://www.infiniteunknown.net/wp-content/uploads/2010/11/Application-For-Jobless-Benefits-Rise-Sharply.jpg• http://edudemic.com/wp-content/uploads/2011/05/mac_class.jpg• http://www.southpointefamilyresourcecenter.com/images/family-on-stomachs-smile.jpg• http://lssacademy.com/wp-content/uploads/2009/03/searching.png• http://blog.dreamhost.com/2010/10/26/301-moved-permanently/• http://wallpapers.free-review.net/21__LG_Mobile_Phones.htm• http://blog.roundarch.com/2009/09/18/roundarch-takes-the-field-in-the-american-cancer-societys-second-annual-corporate-softball- invitational/• http://wellnessforallseasons.com/gatherings/wp-content/uploads/2011/03/stressed-woman.jpg• http://www.mouseplanet.info/gallery/d/134984-1/Walt+and+Epcot.jpg• http://leaderchat.files.wordpress.com/2012/05/bigstock-embarrassed-young-woman-holdin-15040118.jpg• http://images.flatworldknowledge.com/portolesedias/portolesedias-fig07_006.jpg• http://www.flexjobs.com/images/uploads/man_suit_laptop_floor_stretching.JPG• http://www.mediasphere.com.au/files/image/24161182.jpg• http://www.mpiweb.org/Libraries/Magazine/employees_talking.jpg• http://sanespaces.com/wp-content/uploads/2011/02/Woman_business_question_photo.jpg• http://www.sicklycat.com/wp-content/uploads/2012/01/serious-young-woman-giving-stop-gesture.jpg• http://pliblog.yournextspeaker.com/uploaded_images/Coins-741466.jpg• http://www.craftlyricalphotography.com/wp-content/themes/village/blueprint/gallery/ajaxupload/server/uploads/IMG_5793.jpg• http://thecoachingsource.files.wordpress.com/2012/06/mp9004265271.jpg• http://www.hiscoxusa.com/small-business-insurance/blog/wp-content/uploads/2011/09/dreamstime_m_13856361.jpg• http://www.hob-trendtalk.com/files/Image/Project_Glass.jpg• http://corevalues.com/wp-content/uploads/2011/11/High-51.jpg• http://c810422.r22.cf2.rackcdn.com/wp-content/uploads/2009/07/cisco_telepresence_3000.jpg• http://4.bp.blogspot.com/_1qc4nQ28dls/TQVzXtDcZnI/AAAAAAAAARA/PnQxasNaY80/s1600/HomeOffice.jpg• http://imagesusa.files.wordpress.com/2012/06/kstrawinski_moreno_6819.jpg• http://cdn5.howzzit.com/wp-content/uploads/2012/08/tablet.jpg?9d7bd4• http://www.recycler.com/Uploads/d4efeb5e-2891-4065-9a7f-3379bf8d50c4.jpg

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