Not All Millennials Are the Same: Unlocking Strategies to Retain Early and Recessionist Millennials
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Just when you thought you'd learned everything there was to know about Millennials... We introduce you to two Millennial subgroups divided by age: Early Millennials (born 1980–1987) and Recessionist Millennials (born 1988–1995). While they both fall under the Millennial umbrella, don't be fooled! The differences between the two affect how they work and definitely affect how you should retain and manage them.
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Not All Millennials Are the Same: Unlocking Strategies to Retain Early and Recessionist Millennials
- 1. tNot all Millennials are the same: Unlocking Strategies to retain early Millennials and Recessionist Millennials © BridgeWorks 2017
- 2. Who are we and what do we do? Why are generations important? The generations topic plays into how we work, play, shop and even eat, in ways big and small. From a small miscommunication between coworkers to the passing of inheritance from one family member to another, under- standing the needs and goals of each generation allows for a more cohesive daily existence. And by 2025, 75% of the global workforce will be comprised of Millennials. Will your company be ready to recruit, retain, motivate and market to this massive demographic while easing cross- generational conflict? Founded in: Same year as: Founded by: Who wrote the books: Too close Nextby Song of the year David stillmanGen Xer Baby Boomer Lynne Lancaster Bridgeworks In a nutshell Creation of Google Invention of Furbys Headquarters: Minneapolis, MN Our goal at BW, in a nutshell, is to bridge generational gaps in the workplace and marketplace. Every member of our team is a true generational expert, and our research hounds are constantly devising strategies for how to better help our clients close the gap. From keynotes to consulting, we’ve developed a suite of generational solutions to help address your most Helping people understand each other GENERATIONS WHEN COLLIDE THEM FACTOR + We know what you’re thinking: keynotes, workshops and consulting= snooze fest. Sure, our team of generational experts can give a speech like nobody’s business, but that doesn’t mean it will lull you into one of those head-nodding, drool-producing, brain-numbing slumbers. BridgeWorks strives to deliver generational research in an informative yet fun and inter- active way. We like to consider ourselves witty, smart and relatable, and our deliverables are too. Through content filled with personal stories, nostalgic moments and shareable stats, our gen junkies help you see and understand your coworkers through a generational lens. And, let’s be honest, who wouldn’t want to remember a time when scrunchies were a fashion staple? pressing generational needs. Each product we deliver is highly customized and client-specific. Bridgeworks Generational experts What we do: Our formula: What we do NOT do: Manufacture generators Act in a South African soap opera called Generations Keynotes Consulting Workshops eLearning & Webinars Corporate Entertainment Dream about the generations Train-the-TrainerResearch witty smart + relatable Bridgeworks Can’t I just google this? Of course. We're all big fans of www.theinternet.com at BridgeWorks HQ but here are a few reasons why, when it comes to all things generations, we're the better option: What does the generations topic apply to? Finance Healthcare Hospitality Agriculture Pop Culture Gender Global + more Need more convincing? Read on! Generations is an incredibly versatile lens that can apply to topics such as: The Why Stats are a starting point, and while helpful, only tell half the story. Our experts will take you behind the scenes, paint the full picture, and help you create actionable, implementable solutions. The Custom Fit We are expert generational tailors. By getting to know you, and we mean really getting to know you and your organization, we can assemble the very best solution that will speak to your specific needs. The Important Stuff We’d be kidding ourselves if we didn’t admit that the internet is over- saturated with generational content. BridgeWorks has been researching generations for almost two decades. We’re pros at sorting fact from fiction, and can hone in on the trends that are actually relevant and will improve your company’s bottom line. The Fun Stats, demography, reports, articles—these are many things, but fun isn’t the word that would rise to the top. Our gen experts are in the business of making generations relatable, approachable and digestible for all. If the content we’re presenting isn’t keeping you engaged, then we’re not doing our jobs. But we’ve got that skill locked down tight. Some might say that we put the “ha” in a-ha moments.Writing and Research Keynote Speaking Consulting © BridgeWorks 2017
- 5. HELP!By 2025 Millennials will make up 75% of the workforce. © BridgeWorks 2017
- 6. How long do you plan to stay working for one company? 4-7 years… HELP!HELP! How long do you plan to stay working for one company? 26% 17% 34%23% Early Millennials 0-3YEARS 4-7YEARS 8-10YEARS 11+YEARS © BridgeWorks 2017
- 7. 4-7 years… 32% 35% 12% 20% Recessionist Millennials* How long do you plan to stay working for one company? 0-3YEARS 4-7YEARS 8-10YEARS 11+YEARS © BridgeWorks 2017
- 8. 4-7 years… 16% 34% 18% 32% Gen Edgers How long do you plan to stay working for one company? 0-3YEARS 4-7YEARS 8-10YEARS 11+YEARS © BridgeWorks 2017
- 9. More than a third of Millennials plan to leave their workplace in two years. Deloitte © BridgeWorks 2017
- 10. of Millennials would not think twice about leaving their job. Recruitify 86% © BridgeWorks 2017
- 11. Who are the Millennials?Early Millennials 40% Recessionist Millennials 65% Gen 7 an iety can rely on te ting, and they don’t have to rely on ans ering t e p one or terri le t ings li e t at -Gen Edger © BridgeWorks 2017
- 13. Millennials Born 1980 - 1987 EARLYMILLENNIALS TRAITS Collaborative Optimistic Flexible © BridgeWorks 2017
- 14. Millennials Born 1980 - 1987 EARLYMILLENNIALS TRAITS Collaborative Optimistic Flexible Born 1988 - 1995 RECESSIONSTMILLENNIALS TRAITS Realistic Financially-conscious Questioning © BridgeWorks 2017
- 15. Technology Early Millennials 40% Recessionist Millennials 65% Gen Edgers 71% really goo t ing ecause a lot o people it social an iety can rely on te ting, and they don’t have to rely on ans ering t e p one or terri le t ings li e t at -Gen Edger © BridgeWorks 2017
- 16. Early Millennials 40% Recessionist Millennials 65% Gen Edgers 71% “YES”t in tec nology is a really goo t ing ecause a lot o people it social an iety can rely on te ting, and they don’t have to rely on ans ering t e p one or terri le t ings li e t at -Gen Edger Early Millennials 40% Recessionist Millennials 65% Gen Edgers 71% “YES”c nology is a o t ing ecause eople it social an rely on te ting, don’t have to rely ring t e p one or ings li e t at -Gen Edger EarlyMillennials 40% Recessionist Millennials 65% GenEdgers 71% “YES” Early Millennials 40% Recessionist Millennials 65% Gen Edgers 71% “YES”tec nology is a oo t ing ecause people it social can rely on te ting, ey don’t have to rely ering t e p one or t ings li e t at -Gen Edger Technology Do you define yourself as tech-savvy? © BridgeWorks 2017
- 17. The Great Recession Early Millennials 40% Recessionist Millennials 65% Gen Edgers 71% really goo t ing ecause a lot o people it social an iety can rely on te ting, and they don’t have to rely on ans ering t e p one or terri le t ings li e t at -Gen Edger © BridgeWorks 2017
- 18. Early Millennials 40% Recessionist Millennials 65% Gen Edgers 71% really goo t ing ecause a lot o people it social an iety can rely on te ting, and they don’t have to rely on ans ering t e p one or terri le t ings li e t at -Gen Edger what are you most worried about in the workplace? The Great Recession © BridgeWorks 2017
- 19. “My work is…” Early Millennials $ $ $ $ $ $ $ $ $ Recessionist MillennialsAreflec tionofmy identity Something I doto paythebills The Great Recession © BridgeWorks 2017
- 20. Case Study © BridgeWorks 2017
- 21. How can you motivate Millennials?Early Millennials 40% Recessionist Millennials 65% Gen 7 an iety can rely on te ting, and they don’t have to rely on ans ering t e p one or terri le t ings li e t at -Gen Edger © BridgeWorks 2017
- 22. How can you motivate Millennials? Money Flexibility Career progression Culture © BridgeWorks 2017
- 23. MONEY Early MILLENNIALS RECESSIONIST MILLENNIALS What is most important to you at work?Money © BridgeWorks 2017
- 24. Early MILLENNIALS RECESSIONIST MILLENNIALS AUTONOMY FINANCIAL STABILITY What is most important to you at work?Money © BridgeWorks 2017
- 25. MONEY RECESSIONIST MILLENNIALS Money The YOLO factor Most likely to say they want to stay with a company for 0-3 years © BridgeWorks 2017
- 26. StRategy Do you speak about money as transactional or total? © BridgeWorks 2017
- 27. Won’t Work Will Work Phrases that… It’s going to be tough work at first, but you’ll see it will be so worthwhile when you start realizing how much money you’re going to make! We value our employees and invest in them with our com- pensation structure, but also with training opportunities, and wellness programs be- cause we believe in develop- ing well-rounded people. © BridgeWorks 2017
- 28. 10 Things that motivate millennials Other Than Money 1 Squad Goals 2 Leadership roadmap 3 A good old-fashioned “thank you” 4 Happy hour, happy team 5 Responsible Ron 6 Half-day Fridays or Some-Time Tuesdays Managing Millennials for Dummies … © BridgeWorks 2017
- 29. FLEXIBILITY I would prefer work-life balance over a well-paid job.Flexibility © BridgeWorks 2017
- 30. Early MILLENNIALS RECESSIONIST MILLENNIALS 74% 63% FLEXIBILITYFLEXIBILITY I would prefer work-life balance over a well-paid job.Flexibility © BridgeWorks 2017
- 31. Can you replace plaques with sabbaticals? StRategy © BridgeWorks 2017
- 32. Early MILLENNIALS RECESSIONIST MILLENNIALS Career progression I’m confident I’ll be a leader within 5 years. © BridgeWorks 2017
- 33. Early MILLENNIALS RECESSIONIST MILLENNIALS 73% 60% Early MILLENNIALS Career progression I’m confident I’ll be a leader within 5 years. © BridgeWorks 2017
- 34. Do you promote based on merit? How often? StRategy © BridgeWorks 2017
- 35. #1 Best Workplace for Millennials? Culture © BridgeWorks 2017
- 36. Can you describe your culture in 3 words? StRategy © BridgeWorks 2017
- 37. StRategy Are your values action based? © BridgeWorks 2017
- 38. d Case Study © BridgeWorks 2017
- 44. Suite of Solutions Keynotes & Presentations Consulting Trainer Certification Virtual Training GenPop! Generational Trivia Show Research & Writing © BridgeWorks 2017