The document discusses evolving career expectations of millennials and how organizations can adapt. It summarizes research on four generations (Matures, Baby Boomers, Gen X, Millennials) and their differing work values, expectations, and career attitudes. Millennials expect more flexibility, frequent feedback, and development opportunities. They also expect to change jobs more often than previous generations. The presentation provides recommendations on how organizations can address millennials' preferences to attract and retain young talent.

1. The Millennial Career Shift:
How to Address the Evolving
Career Expectations for
Canada's Future Workforce
Welcome to the Financial Management Institute Webinar
Thursday, October 17, 12:00pm EDT

2. Panel:
• Lori Watson, Partner for Finance Effectiveness and
Enterprise Management, PricewaterhouseCooper
• Dr. Ed Ng, Associate Professor, Faculty of
Management, Dalhousie University
• Andrew Francis, Director General of Corporate
Accounting and Material Management, Aboriginal
Affairs and Northern Development Canada
Moderator:
• André LaFlamme, Project and Program Officer,
Financial Management Institute of Canada

3. Millennials at work –
Understanding the
workforce of the future
Financial Management
Institute
October 17, 2013
Lori Watson, Partner
Leader – Federal Public Sector Finance Effectiveness
www.pwc.com/ca

4. PwC Alumni Business Session Millennials at work - Understanding the workforce of the future
4
Baby Boomers
(Born between 1943 – 1960)
General characteristics
• Focus is on quality and
efficiency
• See life as an adventure
• Prefer to communicate in
person
• Interested in traditional
forms of reward (e.g. bonus,
raise, promotion)
• Prioritize work first

5. PwC Alumni Business Session Millennials at work - Understanding the workforce of the future
5
Generation X
(Born between 1961 – 1981)
General characteristics
• Focus is getting the job done
• Like being independent
• See work as a challenge
• Enjoy direct communication
(in person/phone)
• Less concerned about
promotion
• Want freedom and flexibility
• Want work/life balance

6. The Millennial Generation / Generation Y
(Born between 1982 – 2000)
General characteristics
• Always looking to the future
• Goal orientated
• See work as a means to an end
• Prefer communicating via email
and social media
• Desire instant feedback and
recognition where it is due
• Want balance between work
and life.
PwC Alumni Business Session:
Millennials at work - Understanding the workforce of the future
6

7. Millennials are attracted to employers who can
offer more than just good pay
7
PwC Alumni Business Session:
Millennials at work - Understanding the workforce of the future
52%
44%
35%
31%
21%
20%
15%
15%
15%
10%
8%
8%
1%
0% 20% 40% 60%
Opportunities for career progression
Competitive wages/ other financial incentives
Excellent training/ development programmes
Good benefits packages
Flexible working arrangements
International opportunities
Good reputation for ethical practices
Corporate values that match your own
A reputation as an employer of the best and…
The employer brand
Diversity/ equal opportunities record
The sector in which the organisation operates
Other
Which of the following things do you believe make an organization an
attractive employer?
Base: All graduates

8. Millennials favour training and development and
flexible working hours over financial benefits such
as cash bonuses
22%
19%
14%
8%
6% 6% 5% 4% 3% 3% 2% 2% 2% 1%
4%
0%
5%
10%
15%
20%
25%
Trainingand
development
Flexibleworking
hours
Cashbonuses
Freeprivate
healthcare
Pensionschemeor
otherretirement…
Greatervacation
allowance
Financialassistance
withhousing
Companycar
Assistancein
clearingdebts…
Maternity/Paternity
benefits
Subsidisedtravel
costs
Freechildcare
Accesstolow
interest…
Timeofftodo
community/charity…
I’dprefernobenefits
andhigherwages
Which three benefits would you most value from an employer?
Bars show % ranking for first place
8
PwC Alumni Business Session:
Millennials at work - Understanding the workforce of the future

9. The most valued opportunity is the chance to work
with strong coaches and mentors
46% of
employed millennials
said the
development
opportunities offered
by their employer
influenced their
choice to accept the
job.
9
PwC Alumni Business Session:
Millennials at work - Understanding the workforce of the future
28%
21%
19% 18%
6% 5%
0%
5%
10%
15%
20%
25%
30%
Workingwithstrong
coachesand
mentors
Changes/rotationsof
roletogain
experience
Supportforfurther
academictraining
Collaboratingwith
inspiringcolleagues
onkeyprojects
Formalclassroom
training
E-learning
Which of the following training/ development
opportunities would you MOST value from an
employer?

10. Most millennials expect to have between two and
five employers in their careers
Millennials from
Australasia
expect to have the
most employers on
average - 20%
expect 6-9, and 17%
10 or more.
10
PwC Alumni Business Session:
Millennials at work - Understanding the workforce of the future
4%
54%
16%
9%
3%
14%
0%
10%
20%
30%
40%
50%
60%
1
2-5
6-9
10+
None–Iexpect
toworkfor
myself
Don’tknow
How many employers do you expect to have
in your career?
Total

11. The millennial generation is all
about:
1. Flexibility
2. Feedback
3. Options
4. Development
11FMI October 17, 2013
Millennials at work - Understanding the workforce of the future

12. Thank you! For more information, please contact:
Lori Watson
Partner, Financial Effectiveness
613 755
Lori.c.watson@ca.pwc.com
Detailed results available at:
www.pwc.com/millennialsatwork
12FMI October 17, 2013
Millennials at work - Understanding the workforce of the future

13. Eddy Ng, PhD
Rowe School of Business
E-mail: edng@Dal.Ca
Shifting Career Expectations,
Experiences, Attitudes and
Values
Empirical Findings Across Four Generations

14. Generational Career Shift Study
Sample Characteristics
 Completed Spring 2011
 3,009 respondents
 Millennials = 906 (30.1%)
 Gen X = 900 (29.9%)
 Boomers = 901 (30.0%)
 Matures = 300 (10.0%)
 Age effect – school, first job, house, start a family
 Period effect – economic recession, internet, energy
crisis
 Cohort effect – middle-class upbringing, high self-esteem
14

15. 1. Employee Mobility the New Normal
Mean Job Changes
Mean Organizational
Changes
0
0.5
1
1.5
2
2.5
3
3.5
4
25-29
<24
0
2
4
6
8
10
12
25-29
<24
Boundaryless and Protean Careers

16. 2. Shifting Work Values
25 Work Values
Things individuals deem most important to their job and
working lives
3.79
4.07
3.92
3.54
2.5 3 3.5 4 4.5
Advancement
Worklife Balance
Achievement
Impact
Matures
Boomers
Gen Xers
Millennial

17. 3. Millennials have High Expectations
Salary Expectations
$48,860
$42,060
$84,868
$67,766
$171,036
$125,664
$-
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
$180,000
$200,000
Male Female
Starting
5 Yr
Peak
Time to First Promotion
3.6
3.8
4
4.2
4.4
4.6
4.8
Years
Male
Female
Pay and Advancement Expectations
74%
102%
61%
85%

18. 4. Gen Xers are the Unhappiest
Career Satisfaction
2.6
2.7
2.8
2.9
3
3.1
3.2
3.3
3.4
3.5
Millennials
Gen Xers
Boomers
Matures

19. 5. Millennials are Looking for Directions
Career Efficacy
1
2
3
4
5
6
7
Millennials
Gen Xers
Boomers
Matures
Career Influencers
0
0.5
1
1.5
2
2.5
3
Parents Managers
Millennials
Gen Xers
Boomers
Matures
Career Attitudes and Experiences

20. Generational Career Shift
Contact:
Ed Ng, PhD
Rowe School of Business
Dalhousie University
E-mail: edng@dal.ca
www.gencareershift.ca

21. So What?
What’s the relevance of all this for
public sector management?

22. Questions and Answers
Be sure to tune in to next month’s bilingual webinar!
• “Change Management: An overview of the Project
Management Institute (PMI) and the importance of Benefit
Realization Management for Project Managers and Financial
Professionals”
• Presenters: Yvan Bastien and Marc Billard
• Thursday, November 7th, 2013 at 12:00pm EST