1. EXECUTIVE SUMMARY
Millennials, the largest generation in history, are rapidly becoming
the most influential in the workforce.1
Their rising impact coincides
with the retirement of the baby boomers – long the dominant
generation – and has highlighted the need for change across every
business sector.
Above all, leaders need to adopt an attitude of nimbleness rather
than doubling down on talent management and recruitment models
that no longer serve them. Now is the time for companies to put
progressive policies into place to ensure that they can attract and
retain the new talent they need to stay competitive.
• Competition for the best millennial workers is increasing –
so now is the time for change.
• Companies must appeal to younger workers’ worldviews and
workplace expectations to attract and retain them.
• Millennials expect professional development and growth in hard
skills – otherwise they won’t hesitate to leave.
• For businesses, adaptation is the key to long-term success – and
there are sensible, cost-effective changes to be made right now.
THE ASPIRATIONAL
GENERATION
In 2015, millennials became the largest
generation in the U.S. labor force (54%4
) –
and their surge in size and influence is
similar in EMEA5
and APAC6
markets. While
Generation X workers are currently achieving
leadership positions, their impact on the
workplace has been more limited. Millennials,
in general, have been raised to view
themselves as change agents, whereas their
Generation X officemates are more measured
in how they approach their roles. Millennials
are eager to assert influence and opinions
where other generations might have been
more inclined to “pay their dues.”
EMBRACINGTHE
CHANGING GLOBAL
WORKFORCE
GRAEBEL RELOCATION EXAMINES TRENDS AND THE
RISING IMPACT OF THE MILLENNIAL GENERATION
1 Lauren Stiller Rikleen. “What is one piece of advice all millennials should take before entering the workforce?” Fortune, Feb. 10, 2015.
2 Richard Fry. “Millennials surpass Gen Xers as the largest generation in U.S. labor force.” Pew Research Center, May 11, 2015.
3 Christina Sterbenz. “Generation Alpha Is Coming And It Will Change The World Forever.” Business Insider, July 24, 2014.
4 Richard Fry. “Millennials surpass Gen Xers as the largest generation in U.S. labor force.” Pew Research Center, May 11, 2015.
5 Susan Galer. “Oxford Economics Study Reveals EMEA Companies Unprepared for Workforce 2020.” SAP, Oct. 22, 2014.
6 Henrik Bresman. “What Millennials Want from Work, Charted Across the World.” Harvard Business Review, Feb. 23, 2015.
THE GENERATIONS
Sources differ on the birth-
year delineations between
the generations – these
workers are defined by
behaviors more than
birthdays – but a compilation
of several provides this
approximate guide.2, 3
Baby Boomers 1943-1964
Generation X 1965-1979
Millennials (Generation Y) 1980-2000
Generation Z 2001-2015
Generation Alpha 2015-
2. 2
Millennial workers have also come of age
in an era of economic uncertainty,7
which,
according to the Pew Research Center, makes
them more opportunistic and less comfortable
with stagnation. They see themselves – not
altruism, the government or businesses –
as the source of their eventual success.8
Millennials, like any generation, are more diverse
than some people assume. One source, aimed at
marketers, breaks them down into sub-groups:
• Trend-netters: These are the “digital
extroverts spreading trends and
experiences” – the persona most people
think of when they think “millennial.”
• Alter-natives: This group skews younger
and has more of a non-conformist
worldview that includes increased focus on
information security; alter-natives are less
prone to oversharing.
• Lifepreneurs: These are ambitious,
lifestyle-aware millennials. They tend
to segment their lives and are fine with
stepping away from technology.
• BetaBlazers: This is the more
adventuresome group; its members tend to
be more “effortlessly worldly” and take in
information from various and sometimes
divergent sources.9
What these groups generally share is keen
consumer awareness and a desire for their
employers to be forthcoming about their
culture, values and perks. These young workers
are hugely aspirational, so retaining them
involves convincing them that a job is a good fit
and that they will have opportunities to refresh
their positions and responsibilities.10
Millennials represent a great opportunity for
businesses because they offer the specific skillsets
that are needed for modernization and success in
today’s markets. They are the first digital-native
generation, for instance, and they are also the
most diverse and educated generation.11
They
understand how and why technology permeates
every sector. They rarely encounter, or ask for,
instruction manuals. And they are often the best
source for short-cuts and improvements.
Because of this, millennials should be
empowered as company change agents, even
if their place on the company ladder doesn’t
seem to suggest it. They are less likely to
value or trust hard-lined company hierarchies,
which can seem presumptuous to others in the
workplace. But giving them a voice can give
companies a much-needed infusion of ideas.
THE HARD-SKILLS BOOM
Millennials have been educated in a context
of skill-based job preparation, partly because
of the recent economic downturn. They viewed
college largely as a job-prep transaction, unlike
their predecessors who viewed it as a growth
and enrichment opportunity. Because of this,
younger workers are accustomed to scarcity
in the job market and are often laser-focused
on tangible, marketable skills.12
This naturally positions millennials as hungry
professional-development adoptees. Continual
learning and skill development can take many
forms in the workplace, from conventional
conference/workshop attendance to
language courses and other specific trainings.
Sabbaticals and rotational programs are also
rising in popularity, as is subsidized or locally
provided coursework.
However, millennials need guidance in deciding
how to apply those skills and what it means
for their careers. Millennials, more than their
colleagues, tend to appreciate supervisors who
can help them define their career goals in a
hands-on, collaborative way.14
They also look for a direct relationship
between performance and reward,15
as well as
frequent assessments with superiors to gauge
progress.16
This is in part because they have
grown up receiving regular feedback, from
kudos on the Little League field to extensive
notes at the science fair. They desire more
frequent performance evaluations and can
grow impatient for promotions; they often
expect some kind of advancement every
one to two years. In the absence of such
advancement, they won’t hesitate to leave
for new opportunities.17
This is the point at which companies encounter
that old adage: It is better to train employees
and risk having them leave than it is to not
train them and have them stay.
“It is imperative that companies look to, and
trust, their younger employees,” says Tim
O’Shea, vice president worldwide consulting
services at Graebel Relocation. “Both technology
and perpetual change are natural to them – and
those are precisely the two factors that trouble
corporations of all sizes the most right now.”
7 “15 Economic Facts About Millennials.” The Council of Economic Advisers, The White House, Oct. 2014.
8 Tomas Chamorro-Premuzic. “Why Millennials Want to Work for Themselves.” Fast Company, Aug. 13, 2014.
9 Felicia Greiff. “What You’ve Been Told About Millennials Is (Mostly) Wrong.” Ad Age, Aug. 17, 2015.
10 Charlotte Seager. “Generation Y: why young job seekers want more than money.” The Guardian, Feb. 19, 2014.
11 “15 Economic Facts About Millennials.” The Council of Economic Advisers, The White House, Oct. 2014.
12 Elance-odesk.com. “The 2015 Millennial Majority Workforce.”
13 Wsj.com. “How to Manage Different Generations.”
14 Roy Maurer. “Millennials Expect Raises, Promotions More Often than Older Generations.” SHRM, Feb. 26, 2015.
15 Ibid.
16 Kate Taylor. “Why Millennials Are Ending the 9 to 5.” Forbes, Aug. 23, 2013.
17 Roy Maurer. “Millennials Expect Raises, Promotions More Often than Older Generations.” SHRM, Feb. 26, 2015.
FIGURE 1: GENERATIONAL VALUES13
BABY BOOMERS GENERATION X MILLENNIALS
Competition, dues-paying,
structure
Independence, skepticism Teamwork, feedback,
technology, self-interest
“Train people well enough
so they can leave. Treat
them well enough so that
they don’t want to.”
– Richard Branson, Founder,
Virgin Group
Embracing the changing global workforce
3. 3
VALUES-LED WORKERS
Millennials are also likely to import their
personal values into their work; they expect
to “like” their employer and believe in its
mission. Many also expect their job to fit into
their life, and not the other way around. They
seek compatibility with their personal goals
and life structure. Fortunately for companies,
these workers also tend to embrace always-on
connectivity and can be among the most time-
flexible and available members of the team.
To attract and retain millennials, businesses
are well served by demonstrating social
conscientiousness and clear, aspirational
missions. Some organizations refer to this
as “doing well by doing good.”18
Graebel,
for example, recently began a voluntary paid
time off (VPTO) program in which staff are
allowed three days per calendar year to do paid
community-service work. Millennials are likely
to reach out to employers because of their social
footprint and guiding principles, as evidenced
by these publicly visible programs. They are
also perfectly willing to decline an offer based
on their opinion of the employer, so the public
goodwill and awareness that grows from these
initiatives can pay dividends.
Because of their values focus, millennials often
seek out holistic wellness programs once they’re
on the job. They respond well to opportunities
for well-being and self-improvement; aside
from providing helpful personal benefits, these
offerings send a wider message about the level
of care workers can expect from the company.
Company-led wellness programs can include
telemedicine, mental health services, onsite
massage, etc.
Additionally, flexible work schedules and leave
programs allow workers the choice they desire
and make businesses sustainable parts of their
lives. The high-profile family leave programs
offered by large organizations like Netflix and
United Way have garnered media attention
in recent years, but any company can make
strides in this area.19
In 2016, Graebel launched
a flexible work schedule program, which
will demonstrate relevance, add value and
formalize the level of care the company has
always wished to extend to its workers.
HOW COMPANIES
CAN SUCCEED TODAY
There are many sensible, responsive ways for
companies to adapt to changing times and
become an employer of choice among the newly
dominant millennial generation. Leaders are
discovering that making these changes is not just
about being sensitive or perceived as progressive;
the investment creates tangible benefits to the
company, including financial ones.
For any service-focused company, highly
engaged employees communicate better
and provide a solutions-oriented focus with
customers. Ultimately, this leads to greater
worker – not just customer – satisfaction,
which means reduced turnover and position
replacement costs. This money can be
reinvested back into more professional
development and other programs.
Many companies have succeeded by offering
fitness classes, gym stipends, and company-
run fitness events. These offerings promote
engagement – enabling workers to see their
workplace as more than a paycheck – but they
also keep workers healthy and at work, which
is an obvious budget win.21
Company-led health
savings accounts and PPOs provide workers
with choice-based insurance programs in
an era of shrinking benefits packages. Other
impactful financial perks aside from traditional
pay and bonuses include educational debt
relief – an enormous appeal to the most
debt-laden generation of college grads –
and childcare stipends.
Companies should also reframe their
recruitment communications to reach workers
where they are – which is usually online.
Those that develop social media and online
presences wisely will see greater penetration
of their value proposition and brand identity.
This promotes visibility among new hires, the
workforce and customers that the organization
is here to stay.
GRAEBEL RELOCATION CAN HELP
For companies, adopting these changes can
be daunting – sometimes the best solution
starts with a good partner. Graebel’s consulting
services team will review programs and policies
that may affect its clients different generations’
relocation experiences, then recommend
responsible changes or enhancements. Graebel
Relocation goes above and beyond to bring
the highest level of personalized services,
courtesy of its industry-experienced consultants.
For example, its on-the-ground in-service
professional development offerings enable
employees to understand the nuances among
generations and cultures, in addition to strongly
binding the Graebel team on six continents.
18 Christie Garton. “You Must Do Good For Your Brand to Do Well With Millennials.” Entrepreneur, Sept. 10, 2014.
19 Rheana Murray. “It’s not just Netflix: These companies get creative with perks for parents.” Today, Aug. 7, 2015.
20 Ibid.
21 Sarah Sipek. “Millennial Generation Feasts on Collaboration – and Fitness.” Workforce, May 25, 2015.
FIGURE 2: MILLENNIAL VS. GENERATION X20
Which generation is more likely to have each trait?
MILLENNIALS (%) GENERATION X (%)
Narcissistic 80 20
Open to change 72 28
Creative 66 34
Adaptable 60 40
Team player 27 73
Entrepreneurial 55 45
Embracing the changing global workforce
