Millennials comprise nearly 50% of today's workforce and prioritize recognition over monetary rewards. As a tech-savvy generation, they thrive on social collaboration, ongoing feedback, and public recognition, calling for a shift away from traditional performance reviews. Adapting management methods to better support and engage millennials is crucial for organizational success.

1. Millennials are here to stay!
Generation Y in the workforce today
CONFIDENTIAL

2. 50%
…of the workforce are Millennials
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3. What’s the difference?
vs.
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4. Everything!
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5. Millennials grew up in a
tech-savvy world with
everything at their fingertips.
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6. Life Online
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7. Constant
Communication
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8. Social Networks
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9. Virtual Rewards
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10. We want recognition
more than money
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11. Time for a change
Management methods need to adapt
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12. “Meaning is
the new money.”
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13. What motivates millennials:
“Am I continuing to learn & grow?”
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14. We learn and grown through:
1 Social collaboration
2 Ongoing feedback
3 Public recognition
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15. “Ditch the org chart...
build an influence chart.”
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16. What can you do for Gen Y?
4 ideas…
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17. 1. Get rid of the performance review
Traditional performance reviews
don’t help us motivate or learn
“Get Rid of the Performance Review!
It destroys morale, kills teamwork
and hurts the bottom line.”
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18. 2. Be a coach
Employees want
frequent ongoing coaching
“The performance review should be replaced
by daily ongoing contact with managers who
know the work and who can become coaches.”
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19. 3. Give public recognition
It motivates and
amplifies learning
Praise from managers, leadership attention,
and project leadership are more effective
motivators than financial incentives.
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20. 4. Ongoing feedback
Difficult answers are the
best insights
“One tool that can satisfy the thirst for guidance with
minimal resources is microfeedback. Think of it as
performance assessment for Twitterholics—
succinct and nearly real time.”
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21. Summary
1. Millennials are growing up quickly and
account for almost half the workforce today.
2. We want recognition more than money
3. Time for a change
4. We are here to stay
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22. Some links to check out
Mentoring Millennials
http://hbr.org/2010/05/mentoring-millennials/ar/1
Millennials: a New Generation in the Workforce
http://findarticles.com/p/articles/mi_m0FXS/is_3_80/ai_71836857/
Let’s get personal: 3 reasons why performance reviews don’t work
http://blog.rypple.com/2010/08/lets-get-personal-3-reasons-why-performance-
reviews-dont-work/
Yes, Everyone Really Does Hate Performance Reviews
http://online.wsj.com/article/SB127093422486175363.html
Motivating people: Getting beyond money
http://www.mckinseyquarterly.com/Organization/Talent/
Motivating_people_Getting_beyond_money_2460
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23. "This is a generation to be reckoned with.
They are going to overtake the country.”
David Spangler
Director of Market Research, Levi’s Jeans
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