According to Pew Research, Millennials have surpassed Baby Boomers as the nation’s largest living generation, according to population estimates released this month by the U.S. Census Bureau. Millennials, whom we define as those ages 18-34 in 2015, now number 75.4 million, surpassing the 74.9 million Baby Boomers (ages 51-69). And Generation X (ages 35-50 in 2015) is projected to pass the Boomers in population by 2028. (http://www.pewresearch.org/fact-tank/2016/04/25/millennials-overtake-baby-boomers/)
Events that occurred during their life: -Challenger Explosion -Collapse of Communism -Fall of Berlin Wall -Gulf War and Iraq War -Columbine -9/11 - Paris Attacks, Boston Bombing, ISIS, ISIL
"Regard the internet as a research destination where they can ferret out information on companies that catch their interest. They browse corporate web sites to learn about prospective employers and actively use job boards and social-networking sites such as LinkedIn, Facebook, Twitter, hence they need for companies to convey corporate brands on their web sites, and perhaps on other electronic venues that relate to social responsibility values that millennia's hold near and dear" (keeping the millenials page 9)
"Millennials want feedback. They want it now and they want it consistently, or they’ll simply leave. Giving Millennials feedback is a very different game from what we knew in the past. The reality is that feedback has moved from an annual performance review to an everyday occurrence, or at least it should be. Worse yet, too many managers have not come to grips with the concept of Millennial feedback." ( Forbes.com http://www.forbes.com/sites/karlmoore/2014/12/04/giving-s-m-a-r-t-feedback-to-millennials/#376055c23537 )
"Although it has been stated many times before, we’ll say it again – feedback should not be confined to formal meetings. It should be on the spot, and, if possible, in the moment. Feedback needs to penetrate the layers of Millennial expectation. A one-size-fits-all approach does not work. Here are four strategies to help you avoid homogenous feedback: 1) Balance the positive and negative feedback 2) Describe the problem specifically 3) Involve the employee in the solution 4) Establish a follow-up expectation A simple but useful framework Sema and I have been using in new managerial courses to help managers give better feedback is a simple five step model captured in the acronym SMART: giving feedback that is Specific, Measurable, Achievable, Relevant and Time-based. " (Forbes.com http://www.forbes.com/sites/karlmoore/2014/12/04/giving-s-m-a-r-t-feedback-to-millennials/2/#58c146952219 ) Deloitte Global CEO, Punit Renjen, said: “There is really no secret (to success) and there surely are no shortcuts. In my case, it was a pretty simple equation: hard work + some lucky breaks + great mentors.” The last of these, the positive impact of the mentor, is clearly highlighted by our findings. Among those who have somebody acting as their mentors, more than nine in 10 describe the quality of advice (94 percent) and the level of interest shown in their development (91 percent) as “good.” Among those with mentors, 83 percent are satisfied with this aspect of their working lives.
"REVERSE MENTORING This approach shifts the responsibility for organizing mentoring to line employees, who learn from senior executives by mentoring them. A Millennial is matched to an executive and assigned to teach him or her how to, say, use social media to connect with customers. It’s an effective way to give junior employees a window into the higher levels of the organization, so that when the mentees retire, the younger generation has a better understanding of the business" ( https://hbr.org/2010/05/mentoring-millennials ) GROUP MENTORING Group mentoring is a less-resource-intensive but still effective way of giving Millennials the feedback they crave. It can be led by a more senior manager or can be peer-to-peer, but in both cases, the company sets up a technology platform that allows employees to define mentoring in their own terms. At AT&T mentoring takes place in self-organizing, topic-based groups, which AT&T calls leadership circles. The self-organizing approach allows them to reach far more employees than programs run by HR. Using an online platform, one mentor can work with several mentees at a time—sometimes in different locations—on skills like generating sales leads or leading teams. The circles take advantage of platform features such as community forums, document-sharing spaces, group polling, and calendars that announce events and mentor availability. Since the supporting software has some built-in social-networking capability, mentees are able to connect to others with very little hands-on assistance from HR; peer-to-peer mentoring often starts to take place within a circle as it matures. Managers frequently share mentoring responsibilities within a circle—for instance, three executives might work together to advise a group of nine employees. Face-to-face meetings, conference calls, and webcasts supplement the online coaching. ANONYMOUS MENTORING This method uses psychological testing and a background review to match mentees with trained mentors outside the organization. Exchanges are conducted entirely online, and both the mentee and the mentor, who is usually a professional coach or seasoned executive, remain anonymous. The engagement, generally paid for by the mentee’s company, lasts six to 12 months. In a typical exchange, the mentee might send a message such as this: Hey Mentor, Tomorrow afternoon I’m presenting our Q4 forecast to the board of directors. I am delivering some bad news and am quite nervous. In fact, I’m VERY nervous! Can you help? The mentor might respond: Hey Mentee, I got your message, and you should know that I have done literally hundreds of presentations—of good news and bad. When I have bad news, I like to present a benefit/cost analysis of the news. I have found that quantifying it takes away the subjectivity of the message (and the messenger) and allows all parties to focus on what they can do to fix it. Go there with a mitigation plan, i.e., some potential solutions to your bad news. I have found that boards like to make decisions, so giving them a set of options to choose from is great! Finally, rehearse your presentation with someone. Let whoever is your audience be very critical of you. That way the real experience will be much easier. Good luck, and let me know how it went. One of the mentors we spoke with is Bob Wall, 64, of Connecticut. Having spent 29 years as a consultant and executive coach, he at first couldn’t imagine that anonymous mentoring could work. But once he was matched with a mentee, he was amazed at how well they were paired. “I felt like I had a twin out there somewhere,” he told us. “It turned out to be a highly intimate relationship while remaining completely anonymous.” In fact, “when the six months was up, it was like losing a dear friend.” We heard from both mentors and mentees that the anonymity was an unexpected boon. Joanna Sherriff, 33, the vice president of creative services at Decision Toolbox, is just such a mentee. “My original thought was that it would be odd, and it was awkward initially,” she says. “In the long run, though, I could see why the anonymity was required. I would never have shared with my mentor some of the things I did if he or she had known my identity or my company.” An additional benefit? Time zones don’t matter. Sherriff works from her home in Tauranga, New Zealand, and her mentor was in the United States.
Job Hoppers- 91% of millennials expect to stay in a job for less than three years according to Future Workplace “Multiple Generations @ Work” that means 15-20 jobs in their working lives. (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/#1d94e3e95508 ) 35% of employees who don’t receive regular mentoring plan to look for another job within 12 months Source: http://www.urbanbound.com/blog/a-little-guidance-goes-a-long-way-why-you-need-to-implement-mentoring-programs
Almost one in four Millennials are ‘asking for a chance’ to show their leadership skills. Additionally, 75 percent believe their organizations could do more to develop future leaders (Deloitte) Lack of loyalty may be a sign of neglect While many Millennials have already attained senior positions, much remains to be done. More than six in 10 Millennials (63 percent) say their “leadership skills are not being fully developed.”
"Millennial employees don't just care about the bottom line or their year-end salary. Yes, both of those are still important, but Millennials also want to know that their current employer isn't 100 percent business-focused, and that their work is positively affecting their community" from an article on inc.com written by John Boitnott(http://www.inc.com/john-boitnott/dear-ceo-this-is-why-millennials-don-t-want-to-work-for-you.html ) Almost nine in 10 (87 percent) believe that “the success of a business should be measured in terms of more than just its financial performance.” This is a widely held belief. Deloitte 2016 millennial survey
Millennials believe the success of a business should be measured in terms of more than just its financial performance, with a focus on improving society among the most important things it should seek to achieve. Millennials are also charitable and interested to participate in ‘public life:’ 63 percent of Millennials gave to charities, 43 percent actively volunteered or were a member of a community organization and 52 percent signed petitions. ( Deloitte)
Source: http://seattlebusinessmag.com/business-corners/workplace/creative-spaces-your-millennial-staff 88% said they want to work in a more social environment where their co-workers are their friends
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