Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

How to Employ and Keep Millennials

2,518 views

Published on

Millennials represent the largest segment of the workforce in the U.S. and they have the power to shape the fortune of their organizations. Furthermore, every day a significant amount of senior talent and investment is walking out the door.

As a business owner, team leader or a HR manager - what can you do to stop it? In addition, when recruiting new talent to your organization, it is vital to know what the Millennial generation expects and how he or she makes decisions in an every day work environment.

Based on the data of the 2016 Deloitte Millennial Survey we created an infographic that depicts how Millennials think and how an organization can employ and keep them long-term.

Published in: Leadership & Management

How to Employ and Keep Millennials

  1. 1. Who are they? Findings are based on Deloitte 2016 Millennial Survey W erebornafter1982 Haveacollegedegree Areem ployed full-tim e W orkinlarge(100+em ployees) privatesectororganizations
  2. 2. Global Problem 2 in 3 Millennials expect to leave their current employer by 2020 PERCENTAGE WHO EXPECT TO LEAVE IN THE NEXT.. Don't know6 months 1 year 2 years by 20205 years 5 to 10 years 10 years Would never leave Expect to stay 13 12 19 22 66 11 11 27 85
  3. 3. 64 71 76 52 65 76 71 100%0% PERCENTAGE WHO EXPECT TO LEAVE IN THE NEXT 5 YEARS
  4. 4. Why is it important? Millennials shape the fortune of their organizations Millennials represent the largest segment of the workforce in the U.S. Significant amount of senior talent and investment is walking out the door
  5. 5. What can be done? Support Millennials’ ambitions and professional development Identify, understand, and align with Millennials’ values Satisfy the demands Millennials have of employers
  6. 6. PERSONAL VALUES IMPACT ON CLIENTS PERSONAL GOALS AND CAREER PROGRESSION BEING TRUE TO THE ORGANIZATION'S VALUES MEETING THE ORGANIZATION'S OBJECTIVES AND GOALS AVOIDING TROUBLE AND MINIMIZING PERSONAL RISK IMPACT ON COLLEAGUES How Millennials make decisions? Personal values guide where Millennials work and what assignments they will accept SENIOR MILLENNIALS JUNIOR MILLENNIALS 64%49% 45% 46% 38% 36% 36% 34% 60% 58% 57% 56% 51% 50% PERCENTAGE WHO SAID FACTOR IS “VERY INFLUENTIAL” WHEN MAKING DECISIONS AT WORK
  7. 7. What do Millennials value? Millennials recognize that financial success is one of the key elements to success, but on it's own it's insufficient. THE VALUES THAT SUPPORT LONG-TERM BUSINESS SUCCESS EMPLOYEE SATISFACTION/LOYALTY/FAIR TREATMENT ETHICS/TRUST/INTEGRITY/HONESTY CUSTOMER CARE/ FOCUS QUALITY/RELIABILITY 26 25 19 13
  8. 8. GOOD WORK/LIFE BALANCE OPPORTUNITIES TO PROGRESS/BE LEADERS FLEXIBILITY, REMOTE WORKING, FLEXIBLE HOURS SENSE OF MEANING FROM MY WORK PROFESSIONAL DEVELOPMENT TRAINING PROGRAMS What Millennials want? Pay is the nr. 1 driver, but there is a limit an organization can pay. RELATIVE DEGREE OF IMPORTANCE What are the other factors that come into play? 16.8 13.4 11 9.3 8.3
  9. 9. DISCUSSING NEW IDEAS/WAYS OF WORKING DEVELOPMENT OF LEADERSHIP SKILLS EMAILS RECEIVING COACHING/MENTORING What they want to do on a weekly basis? IDEAL FOR A TYPICAL WEEK (HOURS) ACTUAL FOR A TYPICAL WEEK (HOURS) IDEAL VERSUS CURRENT NUMBER OF HOURS SPENT WEEKLY ON SPECIFIC TASKS
  10. 10. Have purpose beyond profit Corporate values Support leadership ambitions Encourage mentorship Offer training programs Encourage flexible working conditions Enable remote work… How can you boost loyalty?
  11. 11. MILLENNIALS WOULD LIKE MORE OPPORTUNITIES TO WORK REMOTELY - AND THINK IT WILL BOOST PRODUCTIVITY PERCENTAGE WHO SAID... CURRENTLY OFFERED WOULD LIKE TO START/DO MORE POSITIVE IMPACT ON PRODUCTIVITY 43 75 51
  12. 12. Reference: http://www2.deloitte.com/content/dam/Deloitte/global/Documents/About-Deloitte/gx-millenial-survey-2016-exec-summary.pdf “These status updates give me insight into people's minds and make sure the info is current and accurate” Scott Wolfe Jr. - CEO of zlien Keep a pulse on employee satisfaction Get regular team status updates Manage remote teams Weekdone weekly status reporting: TRY WEEKDONE FOR FREE
  13. 13. RELATED CONTENT WHAT EMPLOYEES WANT FROM MANAGERS 10 WAYS TO IMPROVE INTERNAL COMMUNICATION 7 STEP GUIDE FOR A LEADER TO DELIVER RESULTS AS A TEAM HOW A LEADER CAN CREATE AN ENVIRONMENT FOR GROWTH WHAT EMPLOYEES WANT FROM MANAGERS CAPITALIZING on human capital 7 STEP GUIDE FOR A LEADER TO DELIVER RESULTS AS A TEAM ways to improve internal communication Practical tips to: Increase employee engagement Improve company competitiveness Build stronger teams

×