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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Generation Impact: Millennials & Tomorrow's Workplace - E2 Keynote Presentation 9/26/12
- 1. Generation Impact: Millennials & Tomorrow’s Workplace Ed Wolf E2 Virtual Conference - 9/26/12
- 2. Introduction About Me • Product Manager/ Business Analyst @ Time Inc. • BS Computer Engineering, RIT • 10+ years IT experience • A Millennial! Connect with me: Twitter: @EdWolfNYC Blog: www.Ed-Wolf.com LinkedIn: linkedin.com/in/EdwardWolf E-mail: Edward.Wolf@gmail.com
- 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
- 6. What Defines A Generation? •Typically spans 20 years •A shared, common experience •Events, trends and technology
- 7. The Current Generations Traditionalists Other Names •Silent Generation •Radio Babies •Greatest Generation Birth Years Prior to 1945 Current Age 67+ Influences •WWII •Korean War •Great Depression Family Traditional nuclear Technology Adapted Value Family/Community Education A dream
- 8. The Current Generations Traditionalists Baby Boomers Other Names •Silent Generation •Boomers, •Radio Babies •“Me” Generation •Greatest Generation •Vietnam Generation Birth Years Prior to 1945 1946-1964 Current Age 67+ 48-66 Influences •WWII •Civil Rights •Korean War •Vietnam •Great Depression •Cold War Family Traditional nuclear Disintegrating Technology Adapted Acquired Value Family/Community Success Education A dream A birthright
- 9. The Current Generations Traditionalists Baby Boomers Gen X Other Names •Silent Generation •Boomers, •Post Boomers •Radio Babies •“Me” Generation •Baby Busters •Greatest Generation •Vietnam Generation •13th Generation Birth Years Prior to 1945 1946-1964 1965-1980 Current Age 67+ 48-66 33-47 Influences •WWII •Civil Rights •Watergate •Korean War •Vietnam •Divorced Parents •Great Depression •Cold War •Y2K Family Traditional nuclear Disintegrating Dual income families Technology Adapted Acquired Assimilated Value Family/Community Success Time Education A dream A birthright A way to get there
- 10. The Current Generations Traditionalists Baby Boomers Gen X Millennials Other Names •Silent Generation •Boomers, •Post Boomers •Gen Y •Radio Babies •“Me” Generation •Baby Busters •Echo Boomers •Greatest Generation •Vietnam Generation •13th Generation •Facebook Generation Birth Years Prior to 1945 1946-1964 1965-1980 1981-2000 Current Age 67+ 48-66 33-47 12-32 Influences •WWII •Civil Rights •Watergate •9/11 •Korean War •Vietnam •Divorced Parents •Columbine/VA Tech •Great Depression •Cold War •Y2K •Recession Family Traditional nuclear Disintegrating Dual income families Blended families Technology Adapted Acquired Assimilated Integral Value Family/Community Success Time Individuality Education A dream A birthright A way to get there An incredible expense
- 13. US Department of Labor
- 14. Crushing Student Loan Debt
- 18. Changes In Labor Force
- 20. MTV “No Collar Workers” Study
- 21. MTV “No Collar Workers” Study
- 22. MTV “No Collar Workers” Study
- 23. MTV “No Collar Workers” Study
- 24. MTV “No Collar Workers” Study
- 25. They’re Different • Connected • Collaborative • Ambitious • Fearless • Embrace change • Hate bureaucracy • Yearn for mentors
- 26. 5 Ways To Leverage Millennials
- 28. Offer Workplace Flexibility • Flexible hours, not just 9-5
- 29. Offer Workplace Flexibility • Flexible hours, not just 9-5 • Telecommuting & Telepresence
- 30. Offer Workplace Flexibility • Flexible hours, not just 9-5 • Telecommuting & Telepresence • Vacation time
- 31. Offer Workplace Flexibility • Flexible hours, not just 9-5 • Telecommuting & Telepresence • Vacation time • Roth retirement plans - 401(k) & IRA
- 32. Start A Mentoring Program
- 33. Start A Mentoring Program • Millennials strive for constant feedback
- 34. Start A Mentoring Program • Millennials strive for constant feedback • Pass on institutional knowledge
- 35. Start A Mentoring Program • Millennials strive for constant feedback • Pass on institutional knowledge • Empower Millennials to reverse mentor
- 36. 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
- 37. Be Transparent & Communicate Effectively
- 38. Be Transparent & Communicate Effectively • Embrace and encourage feedback/ideation
- 39. Be Transparent & Communicate Effectively • Embrace and encourage feedback/ideation • Share the company’s and your goals
- 40. Be Transparent & Communicate Effectively • Embrace and encourage feedback/ideation • Share the company’s and your goals • Communicate quickly
- 41. 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
- 42. Question Everything & Pivot
- 43. Question Everything & Pivot • Millennials will question how things are done
- 44. Question Everything & Pivot • Millennials will question how things are done • Millennials want to make the company better
- 45. 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?’
- 46. 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 there's a better way
- 47. What NOT To Do
- 48. What NOT To Do • Discount their authority about technology
- 49. What NOT To Do • Discount their authority about technology • Treat them as too young to be valuable
- 50. What NOT To Do • Discount their authority about technology • Treat them as too young to be valuable • Be condescending, inconsistent, disorganized
- 51. 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
- 52. 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
- 53. The Cost Of Inaction
- 54. (Average time spent in a job) US Bureau of Labor Statistics
- 55. 86% Looking for a job that is “interesting” Net Impact
- 56. Millennials see themselves as “Free Agents” Forbes
- 58. Non-Traditional Career Paths Deloitte
- 61. Less Physical
- 63. Recap Traditionalists Baby Boomers Gen X Millennials Other Names •Silent Generation •Boomers, •Post Boomers •Gen Y •Radio Babies •“Me” Generation •Baby Busters •Echo Boomers •Greatest Generation •Vietnam Generation •13th Generation •Facebook Generation Birth Years Prior to 1945 1946-1964 1965-1980 1981-2000 Current Age 67+ 48-66 33-47 12-32 Influences •WWII •Civil Rights •Watergate •9/11 •Korean War •Vietnam •Divorced Parents •Columbine/VA Tech •Great Depression •Cold War •Y2K •Recession Family Traditional nuclear Disintegrating Dual income families Blended families Technology Adapted Acquired Assimilated Integral Value Family/Community Success Time Individuality Education A dream A birthright A way to get there An incredible expense
- 64. Recap 5 Core Attributes of Millennials:
- 65. Recap 5 Core Attributes of Millennials: 1. Connected & Tech-Savvy
- 66. Recap 5 Core Attributes of Millennials: 1. Connected & Tech-Savvy 2. Collaborative
- 67. Recap 5 Core Attributes of Millennials: 1. Connected & Tech-Savvy 2. Collaborative 3. Embrace Change
- 68. Recap 5 Core Attributes of Millennials: 1. Connected & Tech-Savvy 2. Collaborative 3. Embrace Change 4. Hate Bureaucracy
- 69. Recap 5 Core Attributes of Millennials: 1. Connected & Tech-Savvy 2. Collaborative 3. Embrace Change 4. Hate Bureaucracy 5. Yearn for Mentors & Feedback
- 70. Recap 5 Ways to Leverage Millennials:
- 71. Recap 5 Ways to Leverage Millennials: 1. Offer Workplace Flexibility
- 72. Recap 5 Ways to Leverage Millennials: 1. Offer Workplace Flexibility 2. Start a mentoring program
- 73. Recap 5 Ways to Leverage Millennials: 1. Offer Workplace Flexibility 2. Start a mentoring program 3. Be Transparent & Communicate Effectively
- 74. Recap 5 Ways to Leverage Millennials: 1. Offer Workplace Flexibility 2. Start a mentoring program 3. Be Transparent & Communicate Effectively 4. Question Everything & Pivot
- 75. Recap 5 Ways to Leverage Millennials: 1. Offer Workplace Flexibility 2. Start a mentoring program 3. Be Transparent & Communicate Effectively 4. Question Everything & Pivot 5. Don’t discount them
- 76. Recap 5 Attributes of Tomorrow’s Workplace:
- 77. Recap 5 Attributes of Tomorrow’s Workplace: 1. Collaborative
- 78. Recap 5 Attributes of Tomorrow’s Workplace: 1. Collaborative 2. Non-Traditional Career Paths
- 79. Recap 5 Attributes of Tomorrow’s Workplace: 1. Collaborative 2. Non-Traditional Career Paths 3. Less Physical
- 80. Recap 5 Attributes of Tomorrow’s Workplace: 1. Collaborative 2. Non-Traditional Career Paths 3. Less Physical 4. Creative & Innovative
- 81. Recap 5 Attributes of Tomorrow’s Workplace: 1. Collaborative 2. Non-Traditional Career Paths 3. Less Physical 4. Creative & Innovative 5. Expanded use of technology
- 84. THANK YOU Twitter: @EdWolfNYC Blog: www.Ed-Wolf.com LinkedIn: linkedin.com/in/EdwardWolf E-mail: Edward.Wolf@gmail.com
- 85. 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
- 86. 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
Editor's Notes
- 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