Millennials A Challenge and a Gift to the Workforce By Randall Blum, Consultant
Research Contributors •Robert Half •Capstrat Inc. •Frank Magic & Associates •Time Enterprises •PEW Research Center •CISCO World Technology •Wall Street Journal •Drake University
Topics I.Why Are They Important? II.Who Are They? III.How Do We Manage Them?
I. Why Are They Important? Most Misunderstood Generation In History
•Stereotype Doesn’t Hold For Everyone
•Generation vs. Current Age
•Fostered Corporate Misconception
•A Challenge...And A Gift
I. Why Are They Important?
Workplace Imperative •Generational Gaps Always Exist
•They ARE The New Workplace
•The Future Will Be Whatever They Make
•Their Numbers Are Growing
•Corporations Cannot Afford To Ignore Them
II. Who Are They? Demographics
•Born 1980-2000 •12-32 Years Old •94 Million •Largest Single Generation •28% Of Working Population •37% By 2015 •45 Million Will Vote In 2012 •Today’s College Prospect
•Sheltered
II. Who Are They? Childhood Development
•Carefully Watched & Protected
•Consistently Defended
•Taught To Mistrust Adult Strangers
•Kept Close To Parents
•‘The Tethered Generation’
II. Who Are They? •Worldly
Childhood Development
•Travel •Schools •Material Goods •Automobiles •Technology
II. Who Are They? Childhood Development
•Techno-Cultured
•Computer-Literate Since Birth
•Immediate Feedback The Norm
•Google-Savvy
•Achievers
II. Who Are They? Childhood Development
•Always Told They Could Do Anything
•Endless Opportunities
•Involved In Competitive Activities
•Multiple Achievement Experiences
•‘The Trophy Generation’
II. Who Are They? Childhood Development
•Group-Oriented
•Ruthlessly Reliant On Peer Networks
•Rule-Centered Friendships
•Extraordinarily Interdependent
•Relaxed, But Careful Sexual Norms
•Conventional
II. Who Are They? Childhood Development
•Life Experiences Very Organized
•Schedules Managed and Provided
•‘Fitting In’ Rewarded
•‘Standing Out’ Discouraged
II. Who Are They? Childhood Development
•Pressured
•Performance Was The #1 Goal
•Grades The Measuring Stick of Success
•Busiest Generation Ever
•Ethnic Concerns
II. Who Are They? Childhood Development
•Prolonged Adolescence
•Childhood Was A Great Experience
•Adulthood Not Fascinating
•‘The Peter Pan Generation’
II. Who Are They? Relevant Experiences
•Google Is The Library
•Couldn’t Tell You The Price Of A First-Class Stamp
•Never Saw Michael Jordan Play Basketball
•Always Had Flat Screen TVs
•Typed Since They Were 5 Years Old
•Skyped Since They Were 10 Years Old
II. Who Are They? Personality - Hard Wired
•Not As Religious (Only 26% In Organized Religion)
•Blurred Line Between Home and Work
•Expect To Be Rewarded Immediately
•Admiration For Parents
•They Only Know 'Instant'
II. Who Are They? Personality - Strengths
•Quick! Quick! Quick! •Intelligent •Charismatic •Multi-Taskers •Fearless •Respectful
II. Who Are They? Personality - Strengths
•Personal Lives Important
•Global Connections
•Cautious Of Being Trapped
•Adaptable To Change
•Embrace Community
•Tangible Results
•Civic-Minded
II. Who Are They? Personality - Challenges
•NEED To Be Significant
•Idealistic
•Politically Naive
•Pressured & Easily Stressed
•Easily Bored With Trivia
•Require Stimulating Work
II. Who Are They? Personality - Challenges
•Validation-Dependent •Minimal Company Loyalty •High Turnover •Not Self-Directed •Not Channel Oriented •Disdain For Hierarchy •Demanding Of Selves •Struggle With Ambiguity •Risk-Averse
III. How Do We Manage Them?
How Much Time Do You Think Workers Entering The Workforce Should Have To Spend Paying Their Dues In Entry Level Positions? Less Than One Year: 18% One-To-Two Years: 61% Two-To-Three Years: 16% More Than Three Years: 5%
III. How Do We Manage Them?
How Long Do You Expect To Stay In Your Current Position?
Less Than One Year: 16% One-To-Two Years: 64% Two-To-Three Years: 19% More Than Three Years: 1%
III. How Do We Manage Them?
•Recruitment •Orientation
•Development •Retention
III. How Do We Manage Them?
•Let Them Meet Other Millennials Recruitment •Don't Show Them Cubicles •Provide Relaxed Common Areas •Emphasize Benefits & 'Community' •Share Corporate Civic Involvement •Demonstrate Organizational Stability •Share Work/Life Balance •Avoid "Job For Life" Discussion
III. How Do We Manage Them?
Orientation •Modify the Orientation Process
•Observe & Train Managers First
•Involve Assigned Managers
•Identify Skills To Be Learned
•Include Multiple Group Activities
•Open All Seating Areas
III. How Do We Manage Them?
•Provide Experiential Learning Orientation
•Make Strategies Transparent
•Identify Key Attributes To Success
•Give Managers Freedom To Reward
•Explain 'Meritocracy'
•Describe Engagement Policies
III. How Do We Manage Them?
•Establish DevelopmentalDevelopment Partnerships
•Get Them Out Of The Cubicles
•Mentor Leadership Styles
•Communicate Constantly
•Provide Structure…Yet Flexibility
•Define How Responsibility Is Earned
III. How Do We Manage Them?
•Provide Travel Opportunities Development
•Share Tons Of 'Face Time'
•Bring On The Challenge
•Provide Stimulating Projects
•Make Work More Meaningful
•Stay One Step Ahead
•Provide Social Media Strategy
III. How Do We Manage Them?
Development •Encourage The Twitter Phenomena
•Create Culture & Environment Programs
•Enhance Procedural Memory
•Foster Peer Competition
III. How Do We Manage Them?
•Identify Unambiguous Career Paths Retention
•Rethink Traditional Career Timetables
•Provide Earned Work/Play Options
•Initiative/Maintain Open Dialogues
•Emphasize Company/Position Security!
•Encourage Time With Decision
•Let 'Em Step Up!
III. How Do We Manage Them? Two •The Boss Key FactorElements To •The Co-Worker Factor
Millennial Success
III. How Do We Manage Them?
•Relationship-OrientedThe
•Efficient and Organized
•A Clear Communicator
•An Individual Goal-Setter
•THE Success Warrior
Boss Factor
III. How Do We Manage Them?
•A Supportive Mentor
The Boss Factor
•An Open-Door Facilitator
•A Strategic Partner
•Positive Reinforcer
•A Talent Developer
III. How Do We Manage Them?
The Co-Worker Collaborative Work Groups
Outside Social Activities
Community Involvement
Factor
Summary I.Why Are They Important? II.Who Are They? III.How Do We Manage Them?
I. Why Are They Important? Myths
•Millennials Would Rather Play
•Millennials Are Selfish
•Millennials Are Impatient
•Millennials Can’t Take Direction
•Millennials Are Lazy
II. Who Are They? Generational •Traditionalists (1925 - 1945)
Comparison
•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
II. Who Are They? Childhood Development
•Non-Traditional Families
•63% Non Two-Parent Household
•Frequent Change / Relocation
•‘Adopted’ By One Parent Syndrome
II. Who Are They? Personality - Hard Wired
•Electronics A Form Of Self-Expression
•Online Social Network Larger Than In-Person
•Love Childhood Activities
•Marriage Rates Ebb Lower and Lower
•Liberal On Social Issues