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Generation Impact:Millennials & Tomorrow’s Workplace                  Ed Wolf      E2 Virtual Conference - 9/26/12
IntroductionAbout Me• Product Manager/ Business Analyst @ Time Inc.• BS Computer Engineering, RIT• 10+ years IT experience...
Agenda• What Defines A Generation?• What’s Shaped Millennials?• Tomorrow’s Workforce• 5 Ways to Leverage Millennials• The ...
What DefinesA Generation?       •Typically spans 20 years       •A shared, common        experience       •Events, trends ...
The Current Generations                TraditionalistsOther Names    •Silent Generation               •Radio Babies       ...
The Current Generations                Traditionalists       Baby BoomersOther Names    •Silent Generation   •Boomers,    ...
The Current Generations                Traditionalists       Baby Boomers                Gen XOther Names    •Silent Gener...
The Current Generations                Traditionalists       Baby Boomers                Gen X              MillennialsOth...
What’s Shaped Millennials?
US Department of Labor
Crushing Student Loan Debt
Tomorrow’s Workforce
Changes In Labor Force
MTV “No Collar Workers” Study
MTV “No Collar Workers” Study
MTV “No Collar Workers” Study
MTV “No Collar Workers” Study
MTV “No Collar Workers” Study
They’re Different  •   Connected  •   Collaborative  •   Ambitious  •   Fearless  •   Embrace change  •   Hate bureaucracy...
5 Ways To LeverageMillennials
Offer Workplace Flexibility
Offer Workplace Flexibility• Flexible hours, not just 9-5
Offer Workplace Flexibility• Flexible hours, not just 9-5• Telecommuting & Telepresence
Offer Workplace Flexibility• Flexible hours, not just 9-5• Telecommuting & Telepresence• Vacation time
Offer Workplace Flexibility• Flexible hours, not just 9-5• Telecommuting & Telepresence• Vacation time• Roth retirement pl...
Start A Mentoring Program
Start A Mentoring Program• Millennials strive for constant feedback
Start A Mentoring Program• Millennials strive for constant feedback• Pass on institutional knowledge
Start A Mentoring Program• Millennials strive for constant feedback• Pass on institutional knowledge• Empower Millennials ...
Start A Mentoring Program• Millennials strive for constant feedback• Pass on institutional knowledge• Empower Millennials ...
Be Transparent &Communicate Effectively
Be Transparent &       Communicate Effectively• Embrace and encourage feedback/ideation
Be Transparent &        Communicate Effectively• Embrace and encourage feedback/ideation• Share the company’s and your goals
Be Transparent &        Communicate Effectively• Embrace and encourage feedback/ideation• Share the company’s and your goa...
Be Transparent &        Communicate Effectively• Embrace and encourage feedback/ideation• Share the company’s and your goa...
Question Everything & Pivot
Question Everything & Pivot• Millennials will question how things are done
Question Everything & Pivot• Millennials will question how things are done• Millennials want to make the company better
Question Everything & Pivot• Millennials will question how things are done• Millennials want to make the company better• A...
Question Everything & Pivot• Millennials will question how things are done• Millennials want to make the company better• A...
What NOT To Do
What NOT To Do• Discount their authority about technology
What NOT To Do• Discount their authority about technology• Treat them as too young to be valuable
What NOT To Do• Discount their authority about technology• Treat them as too young to be valuable• Be condescending, incon...
What NOT To Do• Discount their authority about technology• Treat them as too young to be valuable• Be condescending, incon...
What NOT To Do• Discount their authority about technology• Treat them as too young to be valuable• Be condescending, incon...
The Cost   OfInaction
(Average time spent in a job)             US Bureau of Labor Statistics
86%Looking for a job that is “interesting”                                  Net Impact
Millennials seethemselves as“Free Agents”              Forbes
Tomorrow’s Workplace
Non-Traditional Career Paths                               Deloitte
Less Physical
Creative & Innovative
Recap               Traditionalists       Baby Boomers                Gen X              MillennialsOther Names   •Silent ...
Recap5 Core Attributes of Millennials:
Recap5 Core Attributes of Millennials:1. Connected & Tech-Savvy
Recap5 Core Attributes of Millennials:1. Connected & Tech-Savvy2. Collaborative
Recap5 Core Attributes of Millennials:1. Connected & Tech-Savvy2. Collaborative3. Embrace Change
Recap5 Core Attributes of Millennials:1. Connected & Tech-Savvy2. Collaborative3. Embrace Change4. Hate Bureaucracy
Recap5 Core Attributes of Millennials:1. Connected & Tech-Savvy2. Collaborative3. Embrace Change4. Hate Bureaucracy5. Year...
Recap5 Ways to Leverage Millennials:
Recap5 Ways to Leverage Millennials:1. Offer Workplace Flexibility
Recap5 Ways to Leverage Millennials:1. Offer Workplace Flexibility2. Start a mentoring program
Recap5 Ways to Leverage Millennials:1. Offer Workplace Flexibility2. Start a mentoring program3. Be Transparent & Communic...
Recap5 Ways to Leverage Millennials:1. Offer Workplace Flexibility2. Start a mentoring program3. Be Transparent & Communic...
Recap5 Ways to Leverage Millennials:1. Offer Workplace Flexibility2. Start a mentoring program3. Be Transparent & Communic...
Recap5 Attributes of Tomorrow’s Workplace:
Recap5 Attributes of Tomorrow’s Workplace:1. Collaborative
Recap5 Attributes of Tomorrow’s Workplace:1. Collaborative2. Non-Traditional Career Paths
Recap5 Attributes of Tomorrow’s Workplace:1. Collaborative2. Non-Traditional Career Paths3. Less Physical
Recap5 Attributes of Tomorrow’s Workplace:1. Collaborative2. Non-Traditional Career Paths3. Less Physical4. Creative & Inn...
Recap5 Attributes of Tomorrow’s Workplace:1. Collaborative2. Non-Traditional Career Paths3. Less Physical4. Creative & Inn...
THANK YOU    Twitter: @EdWolfNYC    Blog: www.Ed-Wolf.com    LinkedIn: linkedin.com/in/EdwardWolf    E-mail: Edward.Wolf@g...
References•   http://assets.aarp.org/www.aarp.org_/cs/misc/leading_a_multigenerational_workforce.pdf•   http://moneyland.t...
Photo Credits•   http://aaftl.com/wp-content/uploads/2011/10/F_iStock_000007431474_web.jpg•   http://www.business-business...
Generation Impact: Millennials & Tomorrow's Workplace - E2 Keynote Presentation 9/26/12
Generation Impact: Millennials & Tomorrow's Workplace - E2 Keynote Presentation 9/26/12
Generation Impact: Millennials & Tomorrow's Workplace - E2 Keynote Presentation 9/26/12
Generation Impact: Millennials & Tomorrow's Workplace - E2 Keynote Presentation 9/26/12
Generation Impact: Millennials & Tomorrow's Workplace - E2 Keynote Presentation 9/26/12
Generation Impact: Millennials & Tomorrow's Workplace - E2 Keynote Presentation 9/26/12
Generation Impact: Millennials & Tomorrow's Workplace - E2 Keynote Presentation 9/26/12
Generation Impact: Millennials & Tomorrow's Workplace - E2 Keynote Presentation 9/26/12
Generation Impact: Millennials & Tomorrow's Workplace - E2 Keynote Presentation 9/26/12
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. 1. Generation Impact:Millennials & Tomorrow’s Workplace Ed Wolf E2 Virtual Conference - 9/26/12
  2. 2. IntroductionAbout Me• Product Manager/ Business Analyst @ Time Inc.• BS Computer Engineering, RIT• 10+ years IT experience• A Millennial!Connect with me:Twitter: @EdWolfNYCBlog: www.Ed-Wolf.comLinkedIn: linkedin.com/in/EdwardWolfE-mail: Edward.Wolf@gmail.com
  3. 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
  4. 4. What DefinesA Generation? •Typically spans 20 years •A shared, common experience •Events, trends and technology
  5. 5. The Current Generations TraditionalistsOther Names •Silent Generation •Radio Babies •Greatest GenerationBirth Years Prior to 1945Current Age 67+Influences •WWII •Korean War •Great DepressionFamily Traditional nuclearTechnology AdaptedValue Family/CommunityEducation A dream
  6. 6. The Current Generations Traditionalists Baby BoomersOther Names •Silent Generation •Boomers, •Radio Babies •“Me” Generation •Greatest Generation •Vietnam GenerationBirth Years Prior to 1945 1946-1964Current Age 67+ 48-66Influences •WWII •Civil Rights •Korean War •Vietnam •Great Depression •Cold WarFamily Traditional nuclear DisintegratingTechnology Adapted AcquiredValue Family/Community SuccessEducation A dream A birthright
  7. 7. The Current Generations Traditionalists Baby Boomers Gen XOther Names •Silent Generation •Boomers, •Post Boomers •Radio Babies •“Me” Generation •Baby Busters •Greatest Generation •Vietnam Generation •13th GenerationBirth Years Prior to 1945 1946-1964 1965-1980Current Age 67+ 48-66 33-47Influences •WWII •Civil Rights •Watergate •Korean War •Vietnam •Divorced Parents •Great Depression •Cold War •Y2KFamily Traditional nuclear Disintegrating Dual income familiesTechnology Adapted Acquired AssimilatedValue Family/Community Success TimeEducation A dream A birthright A way to get there
  8. 8. The Current Generations Traditionalists Baby Boomers Gen X MillennialsOther Names •Silent Generation •Boomers, •Post Boomers •Gen Y •Radio Babies •“Me” Generation •Baby Busters •Echo Boomers •Greatest Generation •Vietnam Generation •13th Generation •Facebook GenerationBirth Years Prior to 1945 1946-1964 1965-1980 1981-2000Current Age 67+ 48-66 33-47 12-32Influences •WWII •Civil Rights •Watergate •9/11 •Korean War •Vietnam •Divorced Parents •Columbine/VA Tech •Great Depression •Cold War •Y2K •RecessionFamily Traditional nuclear Disintegrating Dual income families Blended familiesTechnology Adapted Acquired Assimilated IntegralValue Family/Community Success Time IndividualityEducation A dream A birthright A way to get there An incredible expense
  9. 9. What’s Shaped Millennials?
  10. 10. US Department of Labor
  11. 11. Crushing Student Loan Debt
  12. 12. Tomorrow’s Workforce
  13. 13. Changes In Labor Force
  14. 14. MTV “No Collar Workers” Study
  15. 15. MTV “No Collar Workers” Study
  16. 16. MTV “No Collar Workers” Study
  17. 17. MTV “No Collar Workers” Study
  18. 18. MTV “No Collar Workers” Study
  19. 19. They’re Different • Connected • Collaborative • Ambitious • Fearless • Embrace change • Hate bureaucracy • Yearn for mentors
  20. 20. 5 Ways To LeverageMillennials
  21. 21. Offer Workplace Flexibility
  22. 22. Offer Workplace Flexibility• Flexible hours, not just 9-5
  23. 23. Offer Workplace Flexibility• Flexible hours, not just 9-5• Telecommuting & Telepresence
  24. 24. Offer Workplace Flexibility• Flexible hours, not just 9-5• Telecommuting & Telepresence• Vacation time
  25. 25. Offer Workplace Flexibility• Flexible hours, not just 9-5• Telecommuting & Telepresence• Vacation time• Roth retirement plans - 401(k) & IRA
  26. 26. Start A Mentoring Program
  27. 27. Start A Mentoring Program• Millennials strive for constant feedback
  28. 28. Start A Mentoring Program• Millennials strive for constant feedback• Pass on institutional knowledge
  29. 29. Start A Mentoring Program• Millennials strive for constant feedback• Pass on institutional knowledge• Empower Millennials to reverse mentor
  30. 30. 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
  31. 31. Be Transparent &Communicate Effectively
  32. 32. Be Transparent & Communicate Effectively• Embrace and encourage feedback/ideation
  33. 33. Be Transparent & Communicate Effectively• Embrace and encourage feedback/ideation• Share the company’s and your goals
  34. 34. Be Transparent & Communicate Effectively• Embrace and encourage feedback/ideation• Share the company’s and your goals• Communicate quickly
  35. 35. 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
  36. 36. Question Everything & Pivot
  37. 37. Question Everything & Pivot• Millennials will question how things are done
  38. 38. Question Everything & Pivot• Millennials will question how things are done• Millennials want to make the company better
  39. 39. 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?’
  40. 40. 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 theres a better way
  41. 41. What NOT To Do
  42. 42. What NOT To Do• Discount their authority about technology
  43. 43. What NOT To Do• Discount their authority about technology• Treat them as too young to be valuable
  44. 44. What NOT To Do• Discount their authority about technology• Treat them as too young to be valuable• Be condescending, inconsistent, disorganized
  45. 45. 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
  46. 46. 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
  47. 47. The Cost OfInaction
  48. 48. (Average time spent in a job) US Bureau of Labor Statistics
  49. 49. 86%Looking for a job that is “interesting” Net Impact
  50. 50. Millennials seethemselves as“Free Agents” Forbes
  51. 51. Tomorrow’s Workplace
  52. 52. Non-Traditional Career Paths Deloitte
  53. 53. Less Physical
  54. 54. Creative & Innovative
  55. 55. Recap Traditionalists Baby Boomers Gen X MillennialsOther Names •Silent Generation •Boomers, •Post Boomers •Gen Y •Radio Babies •“Me” Generation •Baby Busters •Echo Boomers •Greatest Generation •Vietnam Generation •13th Generation •Facebook GenerationBirth Years Prior to 1945 1946-1964 1965-1980 1981-2000Current Age 67+ 48-66 33-47 12-32Influences •WWII •Civil Rights •Watergate •9/11 •Korean War •Vietnam •Divorced Parents •Columbine/VA Tech •Great Depression •Cold War •Y2K •RecessionFamily Traditional nuclear Disintegrating Dual income families Blended familiesTechnology Adapted Acquired Assimilated IntegralValue Family/Community Success Time IndividualityEducation A dream A birthright A way to get there An incredible expense
  56. 56. Recap5 Core Attributes of Millennials:
  57. 57. Recap5 Core Attributes of Millennials:1. Connected & Tech-Savvy
  58. 58. Recap5 Core Attributes of Millennials:1. Connected & Tech-Savvy2. Collaborative
  59. 59. Recap5 Core Attributes of Millennials:1. Connected & Tech-Savvy2. Collaborative3. Embrace Change
  60. 60. Recap5 Core Attributes of Millennials:1. Connected & Tech-Savvy2. Collaborative3. Embrace Change4. Hate Bureaucracy
  61. 61. Recap5 Core Attributes of Millennials:1. Connected & Tech-Savvy2. Collaborative3. Embrace Change4. Hate Bureaucracy5. Yearn for Mentors & Feedback
  62. 62. Recap5 Ways to Leverage Millennials:
  63. 63. Recap5 Ways to Leverage Millennials:1. Offer Workplace Flexibility
  64. 64. Recap5 Ways to Leverage Millennials:1. Offer Workplace Flexibility2. Start a mentoring program
  65. 65. Recap5 Ways to Leverage Millennials:1. Offer Workplace Flexibility2. Start a mentoring program3. Be Transparent & Communicate Effectively
  66. 66. Recap5 Ways to Leverage Millennials:1. Offer Workplace Flexibility2. Start a mentoring program3. Be Transparent & Communicate Effectively4. Question Everything & Pivot
  67. 67. Recap5 Ways to Leverage Millennials:1. Offer Workplace Flexibility2. Start a mentoring program3. Be Transparent & Communicate Effectively4. Question Everything & Pivot5. Don’t discount them
  68. 68. Recap5 Attributes of Tomorrow’s Workplace:
  69. 69. Recap5 Attributes of Tomorrow’s Workplace:1. Collaborative
  70. 70. Recap5 Attributes of Tomorrow’s Workplace:1. Collaborative2. Non-Traditional Career Paths
  71. 71. Recap5 Attributes of Tomorrow’s Workplace:1. Collaborative2. Non-Traditional Career Paths3. Less Physical
  72. 72. Recap5 Attributes of Tomorrow’s Workplace:1. Collaborative2. Non-Traditional Career Paths3. Less Physical4. Creative & Innovative
  73. 73. Recap5 Attributes of Tomorrow’s Workplace:1. Collaborative2. Non-Traditional Career Paths3. Less Physical4. Creative & Innovative5. Expanded use of technology
  74. 74. THANK YOU Twitter: @EdWolfNYC Blog: www.Ed-Wolf.com LinkedIn: linkedin.com/in/EdwardWolf E-mail: Edward.Wolf@gmail.com
  75. 75. 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
  76. 76. 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
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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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