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Millennials In The Work Place: Driving Productivity & Innovation From This Unique Workforce Generation

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Milliennials make up 80 million members of the US population, and counting. They will be 50% of the workforce by 2020. Here's how to drive productivity and innovation from this unique workforce generation.

Published in: Leadership & Management
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Millennials In The Work Place: Driving Productivity & Innovation From This Unique Workforce Generation

  1. 1. @wheniwork Driving Productivity & Innovation From This Unique Workforce Generation MILLENNIALS IN THE WORKPLACE @TINYpulse
  2. 2. @wheniwork @TINYpulse YOUR PRESENTERS Chad Halvorson CEO When I Work Laura Troyani Marketing Director TINYpulse
  3. 3. @wheniwork @TINYpulse AGENDA - Why we’re talking about millennials today - Who are millennials - What makes millennials unique - Actionable tips to recruit & retain millennials - Q&A
  4. 4. @wheniwork @TINYpulse We don’t want millennials to be a bogeyman - We have lots of millennials in our own workplace - Their workplace demands are not unreasonable Why Are We Talking About Millennials?
  5. 5. @wheniwork @TINYpulse Baby Boomers Gen X Millennials 1946–1964 1965–1980 1980–2000 The Vietnam War Watergate 9/11 Born Between The Cold War First PC’s War On Terror Television AIDS The Great Recession Civil Rights Movement MTV Occupy Wall Street Apollo 11 Moon Landing Fall Of Berlin Wall Social Media Woodstock Core Events During Their Upbringing Social Involvement Pragmatism Optimism Optimism Racial Diversity Social Tolerance Personal Growth Self-Reliance Flexibility Work Ethic Computer Literacy Autonomy Globalism Social Responsibility Main Values Who Are Millennials?
  6. 6. @wheniwork @TINYpulse - Millennials make up 80 million members of the US population, and counting. - They will be 50% of the workforce by 2020. Who Are Millennials?
  7. 7. @wheniwork @TINYpulse What Makes Millennials Unique 1. Money isn’t king: 72% sacrifice more pay for professional fulfillment 2. Good luck keeping them: 43% of millennials plan to actively look for a new job in 2015 3. Flexibility more than a need-to-have: 45% would choose work flexibility over higher pay 4. Do-gooding is on the to-do list: 79% want to work for a company that cares about its impact on society
  8. 8. @wheniwork @TINYpulse Actionable Tips to Recruit & Retain Millennials
  9. 9. @wheniwork @TINYpulse Open & Transparent Environments Transparency is the #1 factor correlated to employee happiness. To foster transparency in your organization, consider: - 1:1 weekly meetings - Bi-monthly or monthly company meetings Be clear about expectations and responsibilities - Move beyond the 1-year performance review - Introduce OKR’s and SMART goals
  10. 10. @wheniwork @TINYpulse Onboarding Experience 49% of millennials agree that they would like a better onboarding process for new hires - Be deliberate in how you welcome them on week one - Create a 30, 60, and 90-day onboarding plan - Design opportunities for socialization and employee-to-employee introductions
  11. 11. @wheniwork @TINYpulse Office & Collaborative Environments Millennials are changing the way offices and working spaces are being designed. Here’s what companies are doing to accommodate this growing group of professionals: - Some companies are knocking down walls and making work spaces more open and collaborative. - Others are adding more communal meeting spaces, kitchens, and break rooms. - Many companies are adding more standing desks or making existing desks stand- ing-compatible, as well as adding more furniture and other non-traditional options for employees to utilize.
  12. 12. @wheniwork @TINYpulse Office & Collaborative Environments These changes often result in a boost in collaboration among team members, but that’s not the only benefit that companies are seeing: Changes in office design have [also] helped businesses better utilize space to save money on real estate costs, reducing the average space occupied per worker to 170 square feet in 2013 from 225 square feet in 2010. — Survey by CoreNet Global
  13. 13. @wheniwork @TINYpulse When I Work Headquarters
  14. 14. @wheniwork @TINYpulse Perks & Benefits As mentioned earlier, millennials aren’t just motivated by money alone. They prefer to work for companies that can offer them the right perks and benefits too. To attract top talent, consider these perks & benefits ideas: - Offer clear mentoring programs within your company - Provide regular career training/advancement opportunities - Give them 24/7 access to your employee handbooks, benefit overviews, time-off calendars, etc. (more on this later in the presentation) - Go above and beyond when it comes to health and wellness. Don’t just give them access to health insurance. Give them resources and technology (like FitBit or other wearable devices) that will allow them to be proactive when it comes to their health
  15. 15. @wheniwork @TINYpulse Feedback & Collaboration This is a generation used to being listened too, so have the tools in place to make this happen - Introduce pulsing employee feedback surveys - Leverage peer-to-peer recognition tools - Adopt a virtual suggestion box
  16. 16. @wheniwork @TINYpulse Work/Life Balance, Flexible Schedule Millennials also look for and ultimately choose to work for companies that encour- age work/life balance and more non-traditional work schedules. To attract top mil- lennials in the roles you need to fill, decide if it’s possible to: - Develop some sort of semi-remote option for employees (1 day a week, 2 days a week, every other week, etc.) - Allow employees to choose their own hours (6a-3p, 8a-5p, 10a-7p) - Create fun company culture events that bring together employees and their families - Encourage your employees to take time off if they need to reset
  17. 17. @wheniwork @TINYpulse Embrace Technology We touched on it briefly in the benefits & perks section, but it’s worth highlighting again: millennials want to work for companies that embrace technology. Some things you can do: - Streamline time-consuming processes (like employee onboarding) by using apps - Make important information available to your employees 24/7 (we use Google Drive, Dropbox, and a company wiki page) - Ditch inefficient forms of communication and try new options like Hipchat & Voxer
  18. 18. @wheniwork @TINYpulse Live Your Company Values This is a mission and values-driven generation. Make sure your organization understands and adapts to this: - Hire, fire, and make business decisions based on your values - Embrace volunteerism - Offer up your product
  19. 19. @wheniwork @TINYpulse Summary Actionable Tips to Recruit & Retain Millennials: - Open & Transparent Environments - Positive Onboarding Experience - Attractive Office & Collaborative Environments - Competitive Perks & Benefits - Commitment to Feedback & Collaboration - Work/Life Balance & Schedule Flexibility - Embrace Technology - Live Your Company Values
  20. 20. @wheniwork @TINYpulse Q&A
  21. 21. Continue The Conversation + Special Offer @wheniwork @TINYpulse Ask us more questions and keep the conversation going on Twitter: COUPON CODE EMPSUCCESS 2 MONTHS FREE FREE TWO WEEK TRIAL As a thank you for attending this webinar, you get:
  22. 22. @wheniwork @TINYpulse Thanks for attending!

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