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New models for new generation employees
The document discusses new models for engaging and retaining "Millennial" generation employees. It notes some paradoxes in what this generation values, such as having a short term focus but also wanting commitment. It proposes several levers for organizations, such as listening to employees, empowering their voices, and creating a flexible work architecture. Specific recommendations include customizing rewards programs, providing training and mentors, articulating an employer brand focused on societal impact, and using technology to engage employees. The goal is to attract and retain talent by addressing what this generation values like meaningful work, flexibility, and diversity, while avoiding dampeners like rigidity and a boring work environment.
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New models for new generation employees
- 1. New Models forNew Generation Employees Arun Rao, Vice President - Talent August , 2013
- 2. New paradigm –‘The Millennial’ Paradox faced by this Gen ‘Next’ Short term focus, but equally committed – Do we agree? Tech Savvy, but value face to face Require Recognition, but not necessarily more trophies Gen ‘Y’ - ME Today’s discussion will focus on the following levers: What do Organizations do about these paradoxes? a. Invest time, resources and energy to listen and stay connected with people b. Like to have their voice heard and to feel empowered Create & Sustain a new work architecture What do they value most and what they don’t want ? What we do at Deloitte?
- 3. Create & sustaina new work architecture 1. Use metrics and benchmarking to segment your workforce - customize your offerings 2. Think creatively about the rewards programs – move the overly focus on cash – non-monetary strokes could work 3. Provide global teaming opportunities 4. Invest in personal development and training – anchors and mentors need to play a larger role 5. Articulate your employer brand including your commitment to society. 6. Think creatively about how technology can be used to engage this audience 7. Provide variety and fresh challenges – consider promoting cycles of experience in other parts of the organization The Energizers! Meaningful work Flexibility Authenticity Speed to access Multiple experiences Global Mobility Diversity Social causes The Dampeners! Rigidity Fear of Technology Work hours Boring environment Slow response time Stuck in a Job Work first /Living second Attitudes
- 4. At Deloitte… Career Development Communication Community and Leadership Compensation & Benefits Onboarding Performance Management Training Work-life Balance Global Millennial Model Learningopportunities as a way of Investment Impact Day – Drive Entrepreneurial leadership Mass Career customization, Flexibility Career paths / framework W2D – Experiential learning Level based milestone programs – Classroom, E -learning Connect - Invest - Care Self-assessment based, Project evaluations Building Relationships Leadership engagement Tools & Technology - Yammer
- 5. As used inthis document, “Deloitte” means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting. Copyright © 2012 Deloitte Development LLC. All rights reserved. Member of Deloitte Touche Tohmatsu Limited