Millennials Crave a Workplace That Fosters Innovation

Like this? Share it with your network

Share

Millennials Crave a Workplace That Fosters Innovation

  • 12,091 views
Uploaded on

Millennials are attracted to companies committed ...

Millennials are attracted to companies committed
to creating a culture of innovation.

  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
No Downloads

Views

Total Views
12,091
On Slideshare
9,340
From Embeds
2,751
Number of Embeds
29

Actions

Shares
Downloads
299
Comments
2
Likes
79

Embeds 2,751

http://www.scoop.it 1,022
http://visage.co 778
http://www.columnfivemedia.com 640
https://twitter.com 60
http://sc-new.raildigital.com 55
http://wayvs.com 47
http://socialcast.com 45
http://www.google.com 24
http://mathewlowry.tumblr.com 19
http://www.jinskaduthodil.com 14
http://www.linkedin.com 10
http://new.columnfivemedia.com 5
http://feedly.com 4
https://content-preview.staging.socialcast.com 4
http://www.pinterest.com 4
http://www.google.pl 3
http://gurucareers.com 2
http://www.pulse.me 2
http://www.leadershipcanada.ca 2
https://home.jolicloud.com 2
https://www.linkedin.com 1
https://my.jolicloud.com 1
http://plus.url.google.com 1
http://www.onlydoo.com 1
http://pulse.me&_=1389246236181 HTTP 1
http://de.pinterest.com 1
http://www.tumblr.com 1
https://www.facebook.com 1
https://feedly.com 1

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide

Transcript

  • 1. THE IDEA GENERATION Millennials Crave a Workplace That Fosters Innovation
  • 2. TABLE OF CONTENTS Millennials Value Innovation The Innovation LaG Shifting Dynamics The Value of Innovation Fostering the Right Culture The Path Forward
  • 3. Millennials Value Innovation Born from 1980 to 2000, Millennials now in their 20s and 30s are participants in the workforce. They consider innovation a key purpose of business and just as important as profit. 78% 71% 66% 62% of Millennials feel innovation is essential for business growth. believe business innovation improves society. say innovation is a critical requirement in choosing a potential employer. describe themselves as “innovative.” Source: www.deloitte.com/MillennialSurvey
  • 4. The Innovation Lag Although most Millennials feel innovation is critical to an organization’s success, few are finding the support they need in the work place. 52% 26% 20% Only half (52%) feel their current work environment helps them to be innovative. And just 26% believe their organizations’ leadership encourages idea generation. While 20% say their companies’ current culture isn’t conducive to innovation. Source: www.deloitte.com/MillennialSurvey
  • 5. Shifting Dynamics Millennials are attracted to companies committed to creating a culture of innovation. 42% Seek leaders that encourage sharing new ideas, regardless of seniority. 39% Want companies that reward idea generation and creativity. 32% Crave cultures that promote openness and freedom to speak up. Source: www.deloitte.com/MillennialSurvey
  • 6. The Value of Innovation Organizations that place innovation at the forefront of their business are more successful. The most innovative companies are seeing improvements in: Revenue Growth Companies with a formulized innovation strategy grew significantly faster:13% average annual growth rate, compared to other companies’ meager 5%. 13% Employee Loyalty 23 NPS score 5% Compounded over 5 years, top performers will grow 84%, compared with lower performers’ 28%—a threefold difference. -56 NPS score 84% 28% Companies in the top quartile for innovation measured a 23 NPS* score, compared with others’ low -56. *Net Promoter score (NPS) measures employee loyalty and enthusiasm, from as low as -100 to as high as +100. Source: http://www.bain.com/Images/BAIN_BRIEF_Taking_the_measure_of_your_innovation_performance.pdf
  • 7. Fostering the Right Culture Encouraging Millennials to be Creative Can Establish and Encourage an innovative culture. 75% Want opportunities to lead and participate in high-profile initiatives. 73% Seek recognition and rewards for new ideas. 64% Would join internal communities with similar interests and goals. 63% Expect innovation to be an equally high-priority function within their companies.
  • 8. The Path Forward Companies seeking to attract Millennials can learn from organizations that have been successful in structuring a creative climate. Make Innovation a Priority Demonstrate Commitment Connect with Employees 80% 78% 67% of the most innovative organizations have well-defined strategies to cultivate new ideas. of the most innovative organizations manage new ideas in a structured way. of the most innovative companies use social media to encourage idea generation. Source: http://www.pwc.com/gx/en/innovationsurvey/index.jhtml
  • 9. check out blog.socialcast.com For more ideas on how to foster an innovative culture and how Enterprise Social Networking can help.