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The global workforce is undergoing a huge shift. The net generation, Gen Y, is growing up quickly and account for almost half the workforce already. According to an HBR article, in four years …

The global workforce is undergoing a huge shift. The net generation, Gen Y, is growing up quickly and account for almost half the workforce already. According to an HBR article, in four years Millennials – the people born between 1977 and 1997 – will account for nearly half the employees in the world. In some companies, they already do!

Organizations that engage Millennials will get ahead. The net generation wants to learn and grow and they're not afraid to ask for it. Now that we know that something has to change, ask yourself: what are you going to do for them?

4 ways to keep Millennials engaged:
1. Get rid of the performance review.
2. Be a coach.
3. Give recognition.
4. Share ongoing feedback.

More in: Business
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  • 1. Millennials are here to stay! Generation Y in the workforce today CONFIDENTIAL
  • 2. 50% …of the workforce are Millennials 2
  • 3. What’s the difference? vs. 3
  • 4. Everything! 4
  • 5. Millennials grew up in a tech-savvy world with everything at their fingertips. 5
  • 6. Life Online 6
  • 7. Constant Communication 7
  • 8. Social Networks 8
  • 9. Virtual Rewards 9
  • 10. We want recognition more than money 10
  • 11. Time for a change Management methods need to adapt 11
  • 12. “Meaning is the new money.” 12
  • 13. What motivates millennials: “Am I continuing to learn & grow?” 13
  • 14. We learn and grown through: 1 Social collaboration 2 Ongoing feedback 3 Public recognition 14
  • 15. “Ditch the org chart... build an influence chart.” 15
  • 16. What can you do for Gen Y? 4 ideas… 16
  • 17. 1. Get rid of the performance review Traditional performance reviews don’t help us motivate or learn “Get Rid of the Performance Review! It destroys morale, kills teamwork and hurts the bottom line.” 17
  • 18. 2. Be a coach Employees want frequent ongoing coaching “The performance review should be replaced by daily ongoing contact with managers who know the work and who can become coaches.” 18
  • 19. 3. Give public recognition It motivates and amplifies learning Praise from managers, leadership attention, and project leadership are more effective motivators than financial incentives. 19
  • 20. 4. Ongoing feedback Difficult answers are the best insights “One tool that can satisfy the thirst for guidance with minimal resources is microfeedback. Think of it as performance assessment for Twitterholics— succinct and nearly real time.” 20
  • 21. Summary 1.  Millennials are growing up quickly and account for almost half the workforce today. 2.  We want recognition more than money 3.  Time for a change 4.  We are here to stay 21
  • 22. Some links to check out Mentoring Millennials http://hbr.org/2010/05/mentoring-millennials/ar/1 Millennials: a New Generation in the Workforce http://findarticles.com/p/articles/mi_m0FXS/is_3_80/ai_71836857/ Let’s get personal: 3 reasons why performance reviews don’t work http://blog.rypple.com/2010/08/lets-get-personal-3-reasons-why-performance- reviews-dont-work/ Yes, Everyone Really Does Hate Performance Reviews http://online.wsj.com/article/SB127093422486175363.html Motivating people: Getting beyond money http://www.mckinseyquarterly.com/Organization/Talent/ Motivating_people_Getting_beyond_money_2460 22
  • 23. "This is a generation to be reckoned with. They are going to overtake the country.” David Spangler Director of Market Research, Levi’s Jeans 23