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Randall Blum on the Millennial Workforce
I. Millennials are the largest and most diverse generation in the workforce, making up over a quarter of current employees. They challenge traditional views but also provide opportunities if properly understood and managed. II. Millennials grew up with technology and were heavily scheduled as children. They value collaboration and seek meaningful work but struggle with ambiguity. III. To manage Millennials, companies should focus on development, clear paths, work-life balance, and social activities. Strong bosses and coworkers who provide feedback and mentoring are also key to retention.
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Randall Blum on the Millennial Workforce
- 1. Millennials A Challenge anda Gift to the Workforce By Randall Blum, Consultant
- 2. Research Contributors •Robert Half •CapstratInc. •Frank Magic & Associates •Time Enterprises •PEW Research Center •CISCOWorldTechnology •Wall Street Journal •Drake University
- 3. Topics I.Why AreThey Important? II.WhoAreThey? III.How DoWe ManageThem?
- 4. I.Why AreThey Important? MostMisunderstood Generation In History •Stereotype Doesn’t Hold For Everyone •Generation vs. Current Age •Fostered Corporate Misconception •A Challenge...And A Gift
- 5. I.Why AreThey Important? WorkplaceImperative •Generational Gaps Always Exist •They AREThe NewWorkplace •The FutureWill BeWhateverThey Make •Their Numbers Are Growing •Corporations Cannot AffordTo Ignore Them
- 6. II.Who AreThey? Demographics •Born 1980-2000 •12-32YearsOld •94 Million •Largest Single Generation •28% OfWorking Population •37% By 2015 •45 MillionWillVote In 2012 •Today’s College Prospect
- 7. II.Who AreThey? Childhood Development •Sheltered •CarefullyWatched& Protected •Consistently Defended •TaughtTo Mistrust Adult Strangers •Kept CloseTo Parents •‘TheTethered Generation’
- 8. II.Who AreThey? Childhood Development •Worldly •Travel •Schools •MaterialGoods •Automobiles •Technology
- 9. II.Who AreThey? Childhood Development •Techno-Cultured •Computer-LiterateSince Birth •Immediate FeedbackThe Norm •Google-Savvy
- 10. II.Who AreThey? Childhood Development •Achievers •AlwaysToldTheyCould Do Anything •Endless Opportunities •Involved In Competitive Activities •Multiple Achievement Experiences •‘TheTrophy Generation’
- 11. II.Who AreThey? Childhood Development •Group-Oriented •RuthlesslyReliant On Peer Networks •Rule-Centered Friendships •Extraordinarily Interdependent •Relaxed, But Careful Sexual Norms
- 12. II.Who AreThey? Childhood Development •Conventional •LifeExperiencesVery Organized •Schedules Managed and Provided •‘Fitting In’ Rewarded •‘Standing Out’ Discouraged
- 13. II.Who AreThey? Childhood Development •Pressured •PerformanceWasThe#1 Goal •GradesThe Measuring Stick of Success •Busiest Generation Ever •Ethnic Concerns
- 14. II.Who AreThey? Childhood Development •ProlongedAdolescence •ChildhoodWas A Great Experience •Adulthood Not Fascinating •‘The Peter Pan Generation’
- 15. II.Who AreThey? Relevant Experiences •GoogleIsThe Library •Couldn’tTellYouThe Price Of A First-Class Stamp •Never Saw Michael Jordan Play Basketball •Always Had Flat ScreenTVs •Typed SinceTheyWere 5Years Old •Skyped SinceTheyWere 10Years Old
- 16. II.Who AreThey? Personality -HardWired •Not As Religious (Only 26% In Organized Religion) •Blurred Line Between Home andWork •ExpectTo Be Rewarded Immediately •Admiration For Parents •They Only Know 'Instant'
- 17. II.Who AreThey? Personality -Strengths •Quick! Quick! Quick! •Intelligent •Charismatic •Multi-Taskers •Fearless •Respectful
- 18. II.Who AreThey? Personality -Strengths •Personal Lives Important •Global Connections •Cautious Of BeingTrapped •AdaptableTo Change •Embrace Community •Tangible Results •Civic-Minded
- 19. II.Who AreThey? Personality -Challenges •NEEDTo Be Significant •Idealistic •Politically Naive •Pressured & Easily Stressed •Easily BoredWithTrivia •Require StimulatingWork
- 20. II.Who AreThey? Personality -Challenges •Validation-Dependent •Minimal Company Loyalty •HighTurnover •Not Self-Directed •Not Channel Oriented •Disdain For Hierarchy •Demanding Of Selves •StruggleWith Ambiguity •Risk-Averse
- 21. III. How DoWe Manage Them? How MuchTime DoYouThinkWorkers EnteringThe Workforce Should HaveTo Spend PayingTheir Dues In Entry Level Positions? LessThan OneYear: 18% One-To-TwoYears: 61% Two-To-ThreeYears: 16% MoreThanThreeYears: 5%
- 22. III. How DoWe Manage Them? How Long DoYou ExpectTo Stay InYour Current Position? LessThan OneYear: 16% One-To-TwoYears: 64% Two-To-ThreeYears: 19% MoreThanThreeYears: 1%
- 23. III. How DoWe Manage Them? •Recruitment •Orientation •Development •Retention
- 24. III. How DoWe Manage Them? Recruitment •LetThem Meet Other Millennials •Don't ShowThem Cubicles •Provide Relaxed Common Areas •Emphasize Benefits & 'Community' •Share Corporate Civic Involvement •Demonstrate Organizational Stability •ShareWork/Life Balance •Avoid "Job For Life" Discussion
- 25. III. How DoWe Manage Them? Orientation •Modify the Orientation Process •Observe &Train Managers First •Involve Assigned Managers •Identify SkillsTo Be Learned •Include Multiple Group Activities •Open All Seating Areas
- 26. III. How DoWe Manage Them? Orientation •Provide Experiential Learning •Make StrategiesTransparent •Identify Key AttributesTo Success •Give Managers FreedomTo Reward •Explain 'Meritocracy' •Describe Engagement Policies
- 27. III. How DoWe Manage Them? Development •Establish Developmental Partnerships •GetThem Out OfThe Cubicles •Mentor Leadership Styles •Communicate Constantly •Provide Structure…Yet Flexibility •Define How Responsibility Is Earned
- 28. III. How DoWe Manage Them? Development •ProvideTravel Opportunities •ShareTons Of 'FaceTime' •Bring OnThe Challenge •Provide Stimulating Projects •MakeWork More Meaningful •Stay One Step Ahead •Provide Social Media Strategy
- 29. III. How DoWe Manage Them? Development •EncourageTheTwitter Phenomena •Create Culture & Environment Programs •Enhance Procedural Memory •Foster Peer Competition
- 30. III. How DoWe Manage Them? Retention •Identify Unambiguous Career Paths •RethinkTraditional CareerTimetables •Provide EarnedWork/Play Options •Initiative/Maintain Open Dialogues •Emphasize Company/Position Security! •EncourageTimeWith Decision •Let 'Em Step Up!
- 31. III. How DoWe Manage Them? Two Key ElementsTo Millennial Success •The Boss Factor •The Co-Worker Factor
- 32. III. How DoWe Manage Them? The Boss Factor •Relationship-Oriented •Efficient and Organized •A Clear Communicator •An Individual Goal-Setter •THE SuccessWarrior
- 33. III. How DoWe Manage Them? The Boss Factor •A Supportive Mentor •An Open-Door Facilitator •A Strategic Partner •Positive Reinforcer •ATalent Developer
- 34. III. How DoWe Manage Them? The Co-Worker Factor CollaborativeWork Groups Outside Social Activities Community Involvement
- 35. Summary I.Why AreThey Important? II.WhoAreThey? III.How DoWe ManageThem?
- 36. I.Why AreThey Important? Myths •MillennialsWouldRather Play •Millennials Are Selfish •Millennials Are Impatient •Millennials Can’tTake Direction •Millennials Are Lazy
- 37. II.Who AreThey? Generational Comparison •Traditionalists(1925 - 1945) •38 Million •Dependable /Work Ethic •Baby Boomers (1946 - 1964) •78 Million •Competitive / Materialistic • Gen X (1965 - 1979) • 62 Million • Self-Reliant / Cynical • Millennials (1980 - 2000) • 94 Million • Connected / Capable Now
- 38. II.Who AreThey? Childhood Development •Non-TraditionalFamilies •63% NonTwo-Parent Household •Frequent Change / Relocation •‘Adopted’ By One Parent Syndrome
- 39. II.Who AreThey? Personality -HardWired •Electronics A Form Of Self-Expression •Online Social Network LargerThan In-Person •Love Childhood Activities •Marriage Rates Ebb Lower and Lower •Liberal On Social Issues