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Kin Millennials Final Presentation
- 2. Unleashing the Potential of the Millennial Generation Bharat Chopra Reff Cheng Soumya Korde Faheem Noor Ali Kari Wilson Faculty Advisor: Professor Scott Stern
- 3. How to engage millennialknowledge-workers to maximizeinnovation in your organization
- 4. Organizations must embrace these traitsEngage Millennials through the 4Cs for greater innovation
- 5. Unleashing the Potential of the MillennialsAgenda Why they matter Who they are In the Workplace Takeaways Discussion Questions
- 6. Three Generations Coexist in the WorkforceMillennials will soon be the largest group with their own characteristics Source: Deloitte, “Who Are the Millennials?”
- 8. Millennials are a Global Phenomenon 1.5B Millennials share common traits but exhibit local idiosyncrasies “first generation without memories of Communism” - Irina Ivan, peoplefirst.ro “smarter than ever, but still not questioning authority” - Dawn Wheeler, Unilever Asia 51m 75m 517m 550m 200m 75m The [Singapore] Gen Y employee is intrinsically motivated by the instant gratification of the task. - Singapore HR Institute “half of all the women hired will opt out of the workforce by age 30“ - Robert Grossman,HR Magazine
- 9. Unleashing the Potential of the MillennialsAgenda Why they matter Who they are In the Workplace Takeaways Discussion Questions
- 10. Defining Moments Shaped the MillennialsMaking Millennials self-reliant, success driven, and flexible Uncertainty9-11, Iraq War, Katrina Self-reliant Risk-averse Environmentally minded Economic ChangeGlobalization, Enron Entrepreneurial Success driven Demand transparency TechnologyNever lived without PCs Instant gratification Tech savvy D Demand flexibility Source: Deloitte, “Who Are the Millennials?”; Greenberg Millennials Study
- 11. Defining Characteristics EmergedMillennials are talented and poised to make an impact
- 13. 63.5% choose employer based on opportunity for growth and development
- 14. 57% plan to fund their own retirementSources: Deloitte Gen Y Study, Deloitte Ireland Survey, PWC Survey
- 16. Spend 6.5 hours a day using media, but consume 8.5 hours worth during that time
- 17. Facebook membership rivals the population of BrazilSources: Northwestern Media Management Center
- 19. 71% of college freshman report volunteering once a week
- 20. Reported drug use and teen pregnancies downSources: National Institute on Drug Abuse; UCLA American Freshman Survey
- 22. Friendship is a strong motivator when choosing a company
- 23. Strong ability to network and develop new relationshipsSource: Forrester
- 24. Each Generation has a Unique PerspectiveAt the same stage in their lives, past generations were different Source: Howe and Strauss, “The Next 20 Years”
- 26. To recognize employee for delivering results
- 27. Employee will climb the corporate ladder
- 28. Management must earn respect
- 29. Recognition is based on effort
- 30. Promotion at pre-planned intervalsSource: Deloitte, Greenberg Millennials Study
- 31. Unleashing the Potential of the MillennialsAgenda Why they matter Who they are In the Workplace Takeaways Discussion Questions
- 32. Employers can Unleash Millennials’ PotentialCultivating four dimensions can engage this generation
- 33. Basic Demands Have Not Changed Like past generations, Millennials value salary and benefits most Rank the following traits in importanceOn a scale of 1 (least important) to 10 (most important) Salary Benefits Source: Robert Half International, Yahoo! HotJobs, “What Millennial Workers Want”
- 34. Companies Must Engage on More DimensionsEmployee expectations have evolved through the generations Boomers Millennials Gen X Live to Work Work to Live Work Hard, Play Hard
- 35. Millennials Need More Mentorship Millennials were raised with constant coaching and recognition CAREER Source: Yahoo! HotJobs, “What Millennial Workers Want”, Deloitte, “Gen Y: The Powerhouse of the Global Economy”
- 36. Intel Reinvented Mentorship Programs The program emphasizes accountability and skills, not rank CAREER Source: Fast Company
- 37. They are Driven by a Values-based CultureProvide an environment of clear values and work autonomy CULTURE Source: Deloitte, “Decoding Generational Differences”
- 39. Do the right thing; don’t be evil
- 40. We aspire to improve and change the worldSource: Google Website
- 41. They Want to be Part of Something BiggerMillennials want their employer to be more than just a workplace COMMUNITY Source: Robert Half International, Yahoo! HotJobs, “What Millennial Workers Want”, Fortune, Fast Company, HRExecutive Online
- 42. Salesforce is Committed to Positive ImpactDonates 1% of equity, 1% of time, and 1% product COMMUNITY Source: Fast Company
- 43. Millennials are Tech-savvy Multi-taskersBorn during the Age of Technology, life is about being connected CONNECTIVITY Source: Robert Half International, Yahoo! HotJobs, “What Millennial Workers Want”, Fortune, Fast Company, HRExecutive Online
- 44. Web 2.0 Can Encourage IdeasCompanies have gained creative new ideas by using such tools CONNECTIVITY
- 45. Unleashing the Potential of the MillennialsAgenda Why they matter Who they are In the Workplace Takeaways Discussion Questions
- 46. Employers can Unleash Millennials’ PotentialCultivating four dimensions can engage this generation
- 48. Establish a company-wide Idea Management Tool
- 49. Ignite innovation through highly visible ContestsSource: Deloitte, “Generation Y: Powerhouse of the Global Economy”
- 50. Unleashing the Potential of the MillennialsAgenda Why they matter Who they are In the Workplace Takeaways Discussion Questions
- 51. At what level is your organization engaging the Millennial generation?
- 52. How can organizations – both public and private – leverage the distinctive qualities and goals of Millennials?
- 53. What have been the biggest successes and failures you have had in trying to manage Millennials?
- 54. What are some best practices that companies might be able to use to better manage the challenges and opportunities from Millennials?
- 56. APPENDIX
- 58. Satisfying and Delighting Our Customers
- 59. Supporting Team Member Happiness and Excellence
- 60. Creating Wealth Through Profits & Growth
- 61. Caring about our Communities & Our Environment
- 62. Creating ongoing win-win partnerships with our suppliers. To promote the vitality and well being of all individuals by supplying the highest quality, most wholesome food available
- 63. Organizations should develop value statementsProvide Millennials with the purpose and structure they seek Core Mission Values make our brand stand out Innovation We follow a strong tradition of innovation. Quality We strive to follow a high standard of excellence. We maintain high-quality standards across all product categories. Community We create positive and inclusive ideas about families. We provide entertainment experiences for all generations to share. Storytelling Every product tells a story. Timeless and engaging stories delight and inspire. Optimism At The Walt Disney Company, entertainment is about hope, aspiration and positive resolutions. Decency We honor and respect the trust people place in us. Our fun is about laughing at our experiences and ourselves. Providing quality entertainment for people around the world
- 64. Organizations should develop value statementsProvide Millennials with the purpose and structure they seek Mission To organize the world’s information and make it universally accessible and useful.
- 65. Organizations should develop value statementsProvide Millennials with the purpose and structure they seek Mission Core Values To organize the world’s information and make it universally accessible and useful. We want to work with great people Technology innovation is our lifeblood Working at Google is fun Be actively involved; you are Google Don’t take success for granted Do the right thing; don’t be evil Earn customer and user loyalty and respect every day Sustainable long-term growth and profitability are key to our success Google cares about and supports the communities where we work and live We aspire to improve and change the world
- 67. What challenges and successes have you had in implementing changes specifically for the Millennials?
- 68. What challenges has your company faced in managing Millennials?
- 69. Has your company changed its recruiting tactics to attract Millennials?
- 70. Is your organization committed to adapting to Millennials’ needs?
- 71. How does this generational shift compare to the shift to Gen X?
- 72. What additional insights should be investigated for future studies?
- 73. examples
Editor's Notes
- Thank you Professor Stern, and thank you distinguished KIN Delegates. Professor Michelle Buck started us off yesterday morning by discussing leadership. She said “Leadership is about unleashing potential.” The five of us share a deep belief in the Millennial Generation’s potential. We see them as a major force upon us --- if you will a tidal wave. Your organization can either ride the millennial tidal wave to prosperity --- or get crushed by it.Over the next twenty minutes, our goal is to provide you with some insights into who millennials, what makes them different from the generations that preceded them, and how to harness their strengths to unleash their potential. To this end, we have created a millennial engagement framework that we hope will give you ideas on how to, well, engage millennials to maximize productivity and innovation in your workforce.
- Before we get into our analysis, we wanted to gain an understanding of what beliefs the people in this room have about Millennials. So, opening up to the audience, what words or traits come to mind when I say “Millennials”?AUDIENCE RESPONSES:Positive – digital natives, a product, your brand, global collaborative problem-solversNegative – ADD, not resilient, entitlementThis is a great list which clearly covers a lot of positive and negative traits. Our analysis consolidated the traits into four main buckets:
- The 4 traits that collectively distinguish Millennials from past generations are listed here. Millennials are driven (especially when compared to Gen-X), Tech Savvy, at a young age have already proven themselves to be responsible, and are relationship oriented. Organizations must embrace these traits should they wish to lead Millennials, as Dean Jain puts it, from success to significance. The 4Cs of Millennial Engagement are 4 dimensions through which companies can demonstrate their commitment to Millennial employees: Career. Culture, Community, and Connectivity. Before we get to the framework, I want to talk a little bit more about What makes Millennials such a powerful force.
- As alluded to already, Millennials are large- but there’s more. Their diversity, innovativeness, and high levels of education poise them to make a difference in the workplace and the world. Size --- 64 million boomers leaving the workforceDiversity --- 1/3 minority, though the term is losing traction given how freely and easily they mix. The lack of political affiliation shows they have not been bound by the views of their parents and past generations, and are ready to make decisions about their future on their own.The bottom half of the circle highlights the fact that, more than ever, Millennials are knowledge workers. Innovation – the GMS study asks millennials questions about themselves. This belief was by far the strongest one they share in common.Education --- In 1970, 48% of 19-20 year olds were engaged in higher ed. This number has increased by 33% to today. Question – Blythe – gen y wants security by wanting to work for a big company discuss this later
- 1.5 b Millennials around the world share common traits, especially with regards to their connectedness, and how tech savvy they are. Around the world, though, nations will have much different concerns to manage than here in the US. Europe – communismChina – still under the veil, not yet seeking empowermentIndia – gender issues due to longstanding familial traditionsSingapore – very short sighted nature based on the country’s philosophyAfrican estimated from World Bank youth population figures (http://en.afrik.com/article15691.html). This number is expected to double by 2045US figure- http://www.allbusiness.com/labor-employment/labor-sector-performance-labor-force/11381702-1.html
- Uncertainty has led to a sense of self-determination yet concerns for others in their environmentEconomic change has grown an innovative and entrepreneurial spirit yet empowered to understand the development of their environmentTechnology has let them grow up with computers and the ability to multitask, yet also allow them to maintain relationships though social networkingDelegate Questionseducation woman – believes that gen y is not reliant, others in audience – do not agree. Argue that they rely on others, helicopter parents. Kari said…think back to hero metaphor – believe that they can do anything and do multiple things at once. Paradox between instant gratification, entrepreneurial, risk-averse more around intrapreneurialComment – gen y is very complex. Have utilized tech to give themselves an identity. Hard to explain unless experienced. Very dependent to people to mentor them, but not to tell them what to do.Risk averse – balancing their risk by doing multiple jobsConfident – all have day job but then do something more entrepreneurial on the side. Confident but do not trust anyoneTransparency – how does this relate to trust? Everything is on Facebook – not related to trust
- The ability to multi-task is strong among Millennials which lends them to be driven and objective-oriented. To that end millennials place a high priority on growth opportunities and their need for autonomy inspired them to fund their own retirement rather than depend on government or parents.Forrester research shows Gen-Y are above average in terms of “making a lot of money being important” and “spend a lot of time on my career”Delegate Comments – retirement – because social security isn’t going to be around, isn’t it a fact that they have to fund retirement?Self-reliant – relates to having to fund retirement
- Not surprisingly, millennials have been exposed to computers for most of their lives. As a result, they have the ability to consume different kinds of media simultaneously, such as watching television and web browsing at the same time. The community orientation of millennials have let sites like Facebook thrive to astonishing membership rates.
- Millennials clearly care for their environment and others as evidenced by a willingness to make sacrifices in their career in order to be associated with responsible organizations or to spend time helping others. However there is a stronger sense of personal responsibility as evidence by 42% to 37% drop in drug use for 18 year olds (compared to 10 years ago) and a drop in teen pregnancies by 36% since 1990.
- The inherent care of the millennials permeates the home as well, as nearly ¾ of millennial identify family as the most important aspect and, in fact, turn to parents and friends for career advice. Technology has been an enabling factor in keeping these relationships going.Networking ability due to their willingness to IM or chat with ‘perfect stranger’ on the internet. Leads to aggressive social networking, expansion of social and professional networking sites. 64% of millennials believe technology makes it easier to stay close to friends and family, while 69% believe technology makes it easier to make new friends.
- Counter culture – small portion of the world.If someone who hasn’t thought about this will now think about this. Not want to loseAttitude, aspirations, talents, motivation of younger knowledge workers are now changing. No longer the Dilbert generation (Gen X)Delegate Comment1. Respect authority – is there a way for existing older companies to engage gen y? will discuss later in presentation
- A good anecdote comes from an interview with the Managing Director of a prominent New York PR firm. He identified a young 22 year old as being a great multi-tasker and very resourceful. This millennial went into the MD’s office asking what it would take for him to become a VP by the age of 25, to which the MD replied that it could happen with hard work and if he contributed to the office’s revenue. The millennial demanded that he put on a career path so that he would become a VP at 25 once he reached pre-assigned milestones. This worker was eventually fired.This highlights some of the aspects that contributes to the disconnect between the millennial worker and his/her Boomer or Gen X boss.Jason Greenwood, a senior kinesiology major at the University of Maryland echoed that view.“I think putting in a lot of effort should merit a high grade,” Mr. Greenwood said. “What else is there really than the effort that you put in?”Delegate Comment – Peter Hart – need for recognition all the time (daily, weekly, just showing up to work) – this is a challenge for managers. Parents who say “good fart” Recognition vs. reward – daily recognition vs. getting promoted, or is this the generation gap that there is no difference in these two events? Aviva Guy – difference in results vs. efforts – 30 year experience guy feels that he deserves VP job company with 26K people – gen y is like boomers – gen y who can adapt stay and work with the boomers Aviva - Strauss & Howe – American history back to 1500s 4 cyclical generation paradigms millennial concept of reward is very different – but boomers also crave recognition. Quality of life issue is more central to gen y
- The Millennial Generation “combine[s] the teamwork ethic of the Boomers with the can-do attitude of the Veterans and the technological savvy of the Xers. Generation Next may be the ideal workforce – and ideal citizens.” - Ron Zemke, “Generations at Work”How can we help Millennials be the ideal generation for your company?We’ve developed the 4Cs of Millennial Engagement:- Career Culture Community Connectivity
- Before we dive into the framework, I want to point out that at their core, Millennials are not that different that generations before them. When asked what are the most important factors when looking for a job. Salary and benefits were the most important factors. However, for knowledge workers, more and more companies are matching salary and benefits. Other factors are key to differentiate your company from your competitors.
- If we look across time, generations have demanded more and more from employers. The Boomers demand for employers mainly career. They wanted lifelong employment, clear career path, and growth opportunities. They are the generation that “lives to work.” On the other hand, Gen X “works to live.” They added the dimension of Culture, demanding work-life balance and autonomy at work. The Millennial Generation is the most demanding generation we have seen. They have added two dimensions of demands from employers – Community and Connectivity. They are the generation that wants it all – they want to “work hard; play hard.” Let’s dive deeper into each of these dimensions and discuss how Millennials differ.
- When it comes to career, Millennials expect much more mentorship and coaching than previous generations. As Faheem mentioned, the Millennials are extremely close with their parents and have had guidance throughout their lives. They expect that same guidance at work. In fact, Dean Jain says that the power of the millennial generation “can only be unleashed with proper mentorship.” The data supports this as well. When asked “What makes you innovative,” the biggest factor was “Opportunities to Work with Senior Staff” (53.5%). “power that can only be unleashed with proper mentorship” Dean Dipak Jain.Data – - Top career concerns – financial security (33%), job stability (26%), career satisfaction (23%)Half of Robert Half Survey respondents said they only want to spent 1-2 years paying their dues in an entry level job merit based rewards – EBay: Any employee of this online auctioneer can nominate another for so-called "Out-of-This-World" awards for outstanding performance. Winners get spot bonuses of as much as $15,000 = random perks from Fortune Top 100CAREER:Millennials seek constant growth and advancement and are attracted to a company that offers a clear progression path, provides continual career guidance, and advances its employees based on performanceClear Career Path:Establishing a defined and transparent career roadmap Providing employees with objective criteria for advancementOffering improvement plans and direction to help employees stay on track for advancementMentorship:Facilitating active mentorship and role-modeling relationshipsNurturing employees with constant feedback and guidanceEncouraging mentors to regularly coach employees throughout the year for constant growth Merit-Based RecognitionAssigning responsibilities based on performance not ageAligning compensation and recognition based on meritPlacing less value on face time, paying dues, or tenure, and more on who best can deliver resultsExamplesNational Instruments: employees are exposed regularly to executives without hierarchal boundaries; employees obtain constant growth through involvement in many facets of the company with regular feedbackUmpqua Bank: employees are encouraged to solve problems and complete numerous training opportunitieseBay: employees are provided constant feedback on improvement plans in order to help employees stay on track and prevent mistakes, and constant mentoring for further growth opportunities
- Intel has reinvented its mentorship program to engage this generation. The Intel program has three main innovations. 1) Mentorship is based on skills, not title. An Administrative Assistant, who is great at networking, has mentored Senior Executives. 2) Intel Computerized matching. This allows for matches across the globe and instant gratification. 3) Contracts increase accountability. The mentor and mentee set a timeline, clear expectations, and metrics for successhttp://www.fastcompany.com/magazine/57/chalktalk.html?page=0%2C0
- On the dimension of culture, Millennials demand the same work-life balance and autonomy as Gen X. However, Millennials are more distrustful of big business. They grew up during the time of big corporate scandals, such as Enron and WorldCom. 70% say that although big business is always talking about putting people first, they would put money and profits over people. In order to gain the trust of this generation, you must do two things:Increase transparency. Adopt and open decision making process, and let them understand the reasoning behind decisions.Clearly define company values and act in accordance with those values. When we spoke to Dean Jain, he explained that although the external values of the Millennials are clear, it is unknown what their intrinsic values are. They grew up in uncertainty – both in the world and at home, with both parents working and single parent homes. Millennials are looking for companies to have values on which they can grasp.
- Google has developed a value system notably well. Not only does it have a strong mission statement; Google also has “Google’s Ten Things,” ten values by which all employees should live. Some of my favorites are: “Don’t take success for granted,” “don’t be evil”, and “aspire to improve and change the world.” Although they are corporate values, at the core, they are human values. The statements sound like words of advice from a parent to a child. Millennials respond to these values.
- The third and fourth C’s are unique in that the Millennial generation is the first group to have naturally grown up and thrived in settings with such dimensions: Community and Connectivity. Under Community lie three components:Collaboration:Most organizations have some level of teamwork, however, Millennials embrace teamwork to another degree. These young workers prefer to work alongside with teammates from different divisions, rank, demographics, geography, and functions to solve challenging problems together. They are adept at working with others as a cohesive and united force. They prefer team environments that serve as open and safe environment to discuss ideas without judgment. Camaraderie:As mentioned earlier as one of their traits, Millennials are relationship oriented, and this trait is carried through at the workplace. Millennials want their employer to be more than just a workplace, but a place where they can develop close kinships with their colleagues. They appreciate friendships at the workplace, and value that sense of belonging and collegiality in the office.Triple Bottom Line:This group strongly values that sense of mission due to their strong sense of social responsibility mentioned earlier. They seek to believe how their work at the office ties to making an impact to the global community, regardless of how small of a task it appears they are doing in the present. They want to make a positive difference for the greater good, and make positive change on planet, people, and profit. They seek a company commitment to positive financial impact and social and environmental impact, with encouragement to dedicate work time to community involvement and serviceMillennials find the following social and environmental issues concerning:Environment (55%) Poverty in the Rest of the World (45%) Racial Inequality (35%)Company examples:Disney (Collaboration) – built on a foundation of diversity & teamwork to facilitate a free flow of ideas in a creative environmentFacebook (Camaraderie) – young workers have formed strong friendships with co-workers, almost family work environment, which has contributed to high employee satisfaction and performanceSalesforce.com (Triple Bottom Line) – openly commits to social mission, and created a foundation to help organizations further their social mission
- Salesforce.com is an example of one of many companies that has been successful in attracting and retaining Millennial workers. Salesforce makes a public commitment to impacting the triple bottom line, and this commitment is visible on its website. Salesforce has its own response to the triple bottom line by committing its own triple program: dedicating a set percentage of its own equity, time, and product for positive impact on the greater community.
- Rounding out the framework is the fourth C, which is Connectivity. More so than any other generation, Millennials grew up in an environment where multi-tasking and communications technology were prominent. Millennials not only prefer these, but they also thrive and are productive in such settings. Even though Millennials are more adept to using new technology, they still value face-to-face and email communication, but also use other mediums to supplement rather than replace traditional means.Under Connectivity lie three components:Multi-Tasking:This generation was raised performing multiple tasks at once. Therefore, Millennials not only prefer working on multiple tasks concurrently, but also prefer to be engaged on various multi-faceted assignments at once, with varying degrees of responsibility, and intensity. Essentially, these Millennials want to be constantly engaged, and have a sense of constant growth and learning.Communications Technology:Millennials want to constantly have access to information and other people, and also interact with that information and those people. This involves wireless, mobile, and Web 2.0 technologies. Offering technology platforms to allow employees to communicate at all times through multiple channels, not only phone and email, but also IMs, blogs, tweets, wikis, etc. Providing employees with technology and tools to stay connected at all times of the day, in or out of the office, in any geography. Millennials also extend collaboration to the internet as well, using Web 2.0 interactive platforms to push forward the co-creation and crowdsourcing movements for knowledge sharing and building across boundaries. Social Networking:The past component gave way to this section on virtual communities. With technology as an enabler, Millennials have led the movement onto developing expansive online communities that extend beyond geographies, demographics, professions, and other traditional barriers. Companies need to recognize that social networks are fundamental for business success, and offer such opportunities to these Millennial workers. This ability to connect via online virtual networks also fosters the third C of Community as well. 43% say that creative programs for new ideas that encourage participation from all levels leads them to participate in innovative efforts. - Deloitte, “Gen Y: the Powerhouse of the Global Economy”Company examples:Intuit (Multi-Tasking) – offers multi-faceted positions to prevent boredom and connect employees with multiple departmentsAT&T (Communication Technology) – John Donovan from AT&T presented an example of AT&T’s crowdsourcing idea posting toolZappos.com (Social Networking) – empowers each employee to be a company spokesperson via Twitter by sharing company information to each other and the entire world, increasing pride, productivity, and engagement of workforce
- QuestionsHow free are the blogs/wikis – “I hate my job, but I am still going back tomorrow” – how do you control those blogs setting up? Organizations need to develop a structure to manage thisIts not really a gen y thing – web 2.0 is open to everyone – if there is something negative posted, do not want a 50 year old exec shutting this down. Negative posts can be the most constructive to see what company needs to do. The community self-correctsStarbucks is one example of a company that allows users both internal and external to post, vote, comment, and review ideas (thousands of ideas each month from users of all ages, backgrounds, globally). Initially, a company might want to start small by establishing such an idea board internally, inviting all employees to share and exchange commentsStarbucks was able to use new ideas such as:-offering free coffee to those who voted on election day-free Wi-Fi for iPhone users-recyclable cold cups, seasonal Thanksgiving blend, innovative new menu ideas like piadinis
- Peter Hart comments:Transparency – gen y does not identify with employer, but more with their peer group. Less impressed with needs for secrecy - Care about speed to market and execution. Leverage resources, even outside company walls.Other commentsIf there is an internal place to vent – more likely to use it, esp if they see are responded to. If not, they will go externallyBritish guy - People are more than assets, they are the business. Want gen y new employees to understand that concept. Treat everyone with dignity and respect, regardless of rank. Need to clearly defined these wordsAviva – follow general guidelines of behavior. Behavior needs to be managed in corporate culture. British guy thinks behavior is a paternalistic word.HBR or some study showed that multi-taskers recollected less than non multi-taskersBehavior of gen y with laptops – Completely dependent on culture and location. Concept of yammering – real time feedback iming on presentation going onWith laptops open – can find info, make decisions much quicker, faster cycle time than with closed laptopsMore important – use your laptops for relevant tasks – relating to the meeting at hand – how do manage the level of engagement?
- Now that we know these traits“They combine the teamwork ethic of the Boomers with the can-do attitude of the Veterans and the technological savvy of the Xers. Generation Next may be the ideal workforce – and ideal citizens” - Ron Zemke, “Generations at Work”How can your company engage this generation?Developed the 4Cs of Millennial Engagement
- CommentsGlenn – reverse mentoring works, feel responsible to give them the right, updated knowledge on technology; sense of empowerment and responsibilityRichard Caruso – won entrepreneur of the year – 360 mentoring, proactive mentoringAviva – how does 4 Cs framework apply to specific business questions? does the framework apply to all generations? – YES Offer to consult in London 4. Whitaker – no laptops came from students, different from work environment. Learning vs. workingStern – no one framework that fits every firm…Facilitate reverse mentoring so that established managers can gain new perspectives from Millennials on use of technology, fresh insight, and how younger generations think. Establish an online idea management tool to invite all employees to post, vote, and comment on fresh creative ideas
- Now that we know these traits“They combine the teamwork ethic of the Boomers with the can-do attitude of the Veterans and the technological savvy of the Xers. Generation Next may be the ideal workforce – and ideal citizens” - Ron Zemke, “Generations at Work”How can your company engage this generation?Developed the 4Cs of Millennial Engagement
- Starbucks is one example of a company that allows users both internal and external to Post, vote, comment, and review ideas (thousands of ideas each month from users of all ages, backgrounds, globally)Initially, a company might want to start small by establishing such an idea board internally, inviting all employees to share and exchange commentsStarbucks was able to use new ideas such as:-offering free coffee to those who voted on election day-free Wi-Fi for iPhone users-recyclable cold cups, seasonal Thanksgiving blend, innovative new menu ideas like piadinis
- Starbucks is one example of a company that allows users both internal and external to Post, vote, comment, and review ideas (thousands of ideas each month from users of all ages, backgrounds, globally)Initially, a company might want to start small by establishing such an idea board internally, inviting all employees to share and exchange commentsStarbucks was able to use new ideas such as:-offering free coffee to those who voted on election day-free Wi-Fi for iPhone users-recyclable cold cups, seasonal Thanksgiving blend, innovative new menu ideas like piadinis
- Starbucks is one example of a company that allows users both internal and external to Post, vote, comment, and review ideas (thousands of ideas each month from users of all ages, backgrounds, globally)Initially, a company might want to start small by establishing such an idea board internally, inviting all employees to share and exchange commentsStarbucks was able to use new ideas such as:-offering free coffee to those who voted on election day-free Wi-Fi for iPhone users-recyclable cold cups, seasonal Thanksgiving blend, innovative new menu ideas like piadinis
- Starbucks is one example of a company that allows users both internal and external to Post, vote, comment, and review ideas (thousands of ideas each month from users of all ages, backgrounds, globally)Initially, a company might want to start small by establishing such an idea board internally, inviting all employees to share and exchange commentsStarbucks was able to use new ideas such as:-offering free coffee to those who voted on election day-free Wi-Fi for iPhone users-recyclable cold cups, seasonal Thanksgiving blend, innovative new menu ideas like piadinis
- CONNECTIVITY:More so than any other generation, Millennials grew up in an environment where multi-tasking and communications technology were prominent; Millennials not only prefer these, but they also thrive and are productive in such settingsMulti-Tasking:Providing employees the freedom and support to perform various tasks concurrently Engaging employees by offering work on multiple projects simultaneously that offer growth and learning opportunitiesCommunications TechnologyOffering technology platforms to allow employees to communicate at all times through multiple channels; not only phone and email, but also IMs, blogs, tweets, wikis, etc.Providing employees with technology and tools to stay connected at all times of the day, in or out of the office, in any geographyExamplesChesapeake Energy: employees are given all the tools to help them stay productive such as multiple computer monitors and other resources to facilitate efficient multi-tasking and connectivityIntuit: offers rotational opportunities to prevent boredom and connect employees with multiple departmentsCarMax: offers cross-functional assignments to engage employees with better overall company understandingZappos: empowers each employee to be a company spokesperson via Twitter by sharing company information to each other and the entire world, increasing pride, productivity, and engagement of workforce