Post on 10-May-2015
description
Generation Impact:Millennials & Tomorrow’s Workplace
Ed WolfE2 Virtual Conference - 9/26/12
IntroductionAbout Me
• Product Manager/ Business Analyst @ Time Inc.
• BS Computer Engineering, RIT
• 10+ years IT experience
• A Millennial!
Connect with me:
Twitter: @EdWolfNYC
Blog: www.Ed-Wolf.com
LinkedIn: linkedin.com/in/EdwardWolf
E-mail: Edward.Wolf@gmail.com
Agenda• What Defines A Generation?
• What’s Shaped Millennials?
• Tomorrow’s Workforce
• 5 Ways to Leverage Millennials
• The Cost of Inaction
• Tomorrow’s Workplace
By 202575% Workers Globally
Will Be Millennials
4 Generations In The Workplace
What Defines A Generation?
•Typically spans 20 years•A shared, common experience•Events, trends and technology
The Current GenerationsTraditionalists
Other Names •Silent Generation •Radio Babies •Greatest Generation
Birth Years Prior to 1945
Current Age 67+
Influences •WWII•Korean War•Great Depression
Family Traditional nuclear
Technology Adapted
Value Family/Community
Education A dream
The Current GenerationsTraditionalists Baby Boomers
Other Names •Silent Generation •Radio Babies •Greatest Generation
•Boomers, •“Me” Generation•Vietnam Generation
Birth Years Prior to 1945 1946-1964
Current Age 67+ 48-66
Influences •WWII•Korean War•Great Depression
•Civil Rights•Vietnam•Cold War
Family Traditional nuclear Disintegrating
Technology Adapted Acquired
Value Family/Community Success
Education A dream A birthright
The Current GenerationsTraditionalists Baby Boomers Gen X
Other Names •Silent Generation •Radio Babies •Greatest Generation
•Boomers, •“Me” Generation•Vietnam Generation
•Post Boomers•Baby Busters•13th Generation
Birth Years Prior to 1945 1946-1964 1965-1980
Current Age 67+ 48-66 33-47
Influences •WWII•Korean War•Great Depression
•Civil Rights•Vietnam•Cold War
•Watergate•Divorced Parents•Y2K
Family Traditional nuclear Disintegrating Dual income families
Technology Adapted Acquired Assimilated
Value Family/Community Success Time
Education A dream A birthright A way to get there
The Current GenerationsTraditionalists Baby Boomers Gen X Millennials
Other Names •Silent Generation •Radio Babies •Greatest Generation
•Boomers, •“Me” Generation•Vietnam Generation
•Post Boomers•Baby Busters•13th Generation
•Gen Y•Echo Boomers•Facebook Generation
Birth Years Prior to 1945 1946-1964 1965-1980 1981-2000
Current Age 67+ 48-66 33-47 12-32
Influences •WWII•Korean War•Great Depression
•Civil Rights•Vietnam•Cold War
•Watergate•Divorced Parents•Y2K
•9/11•Columbine/VA Tech•Recession
Family Traditional nuclear Disintegrating Dual income families Blended families
Technology Adapted Acquired Assimilated Integral
Value Family/Community Success Time Individuality
Education A dream A birthright A way to get there An incredible expense
What’s Shaped Millennials?
Recession
8% Unemployment
US Department of Labor
Crushing Student Loan Debt
Technology
Family
Tomorrow’s Workforce
Changes In Labor Force
Different Expectations
9 / 10 Millennials want their workplace to be social and fun
MTV “No Collar Workers” Study
93% want a job where they can be themselves
MTV “No Collar Workers” Study
71% want their co-workers to be like a second family
MTV “No Collar Workers” Study
MTV “No Collar Workers” Study
Half would rather have
no job, than a job they hate
93% work harder when they know where their work is going
MTV “No Collar Workers” Study
They’re Different
• Connected• Collaborative• Ambitious• Fearless• Embrace change• Hate bureaucracy• Yearn for mentors
5 Ways ToLeverage
Millennials
Offer Workplace Flexibility
Offer Workplace Flexibility
• Flexible hours, not just 9-5
Offer Workplace Flexibility
• Flexible hours, not just 9-5
• Telecommuting & Telepresence
Offer Workplace Flexibility
• Flexible hours, not just 9-5
• Telecommuting & Telepresence
• Vacation time
Offer Workplace Flexibility
• Flexible hours, not just 9-5
• Telecommuting & Telepresence
• Vacation time
• Roth retirement plans - 401(k) & IRA
Start A Mentoring Program
• Millennials strive for constant feedback
Start A Mentoring Program
• Millennials strive for constant feedback
• Pass on institutional knowledge
Start A Mentoring Program
• Millennials strive for constant feedback
• Pass on institutional knowledge
• Empower Millennials to reverse mentor
Start A Mentoring Program
• Millennials strive for constant feedback
• Pass on institutional knowledge
• Empower Millennials to reverse mentor
• Can be as informal as going to lunch
Start A Mentoring Program
Be Transparent & Communicate Effectively
Be Transparent & Communicate Effectively
• Embrace and encourage feedback/ideation
Be Transparent & Communicate Effectively
• Embrace and encourage feedback/ideation
• Share the company’s and your goals
Be Transparent & Communicate Effectively
• Embrace and encourage feedback/ideation
• Share the company’s and your goals
• Communicate quickly
Be Transparent & Communicate Effectively
• Embrace and encourage feedback/ideation
• Share the company’s and your goals
• Communicate quickly
• Trust that they will get the job done
Question Everything & Pivot
Question Everything & Pivot
• Millennials will question how things are done
Question Everything & Pivot
• Millennials will question how things are done
• Millennials want to make the company better
Question Everything & Pivot
• Millennials will question how things are done
• Millennials want to make the company better
• Ask yourself ‘Do we have to do it this way?’
Question Everything & Pivot
• Millennials will question how things are done
• Millennials want to make the company better
• Ask yourself ‘Do we have to do it this way?’
• Pivot when there's a better way
What NOT To Do
What NOT To Do
• Discount their authority about technology
What NOT To Do
• Discount their authority about technology
• Treat them as too young to be valuable
What NOT To Do
• Discount their authority about technology
• Treat them as too young to be valuable
• Be condescending, inconsistent, disorganized
What NOT To Do
• Discount their authority about technology
• Treat them as too young to be valuable
• Be condescending, inconsistent, disorganized
• Give them boring work
What NOT To Do
• Discount their authority about technology
• Treat them as too young to be valuable
• Be condescending, inconsistent, disorganized
• Give them boring work
• Ignore that change is happening
The CostOf
Inaction
4.4 Years(Average time spent in a job)
US Bureau of Labor Statistics
Turnover
86%Looking for a job that is “interesting”
Net Impact
Talent
Millennials see themselves as “Free Agents”
Forbes
Innovation
Tomorrow’sWorkplace
Non-Traditional Career Paths
Deloitte
Native Collaboration
Tech-Savvy
Less Physical
Creative & Innovative
RecapTraditionalists Baby Boomers Gen X Millennials
Other Names •Silent Generation •Radio Babies •Greatest Generation
•Boomers, •“Me” Generation•Vietnam Generation
•Post Boomers•Baby Busters•13th Generation
•Gen Y•Echo Boomers•Facebook Generation
Birth Years Prior to 1945 1946-1964 1965-1980 1981-2000
Current Age 67+ 48-66 33-47 12-32
Influences •WWII•Korean War•Great Depression
•Civil Rights•Vietnam•Cold War
•Watergate•Divorced Parents•Y2K
•9/11•Columbine/VA Tech•Recession
Family Traditional nuclear Disintegrating Dual income families Blended families
Technology Adapted Acquired Assimilated Integral
Value Family/Community Success Time Individuality
Education A dream A birthright A way to get there An incredible expense
Recap5 Core Attributes of Millennials:
Recap5 Core Attributes of Millennials:
1. Connected & Tech-Savvy
Recap5 Core Attributes of Millennials:
1. Connected & Tech-Savvy
2. Collaborative
Recap5 Core Attributes of Millennials:
1. Connected & Tech-Savvy
2. Collaborative
3. Embrace Change
Recap5 Core Attributes of Millennials:
1. Connected & Tech-Savvy
2. Collaborative
3. Embrace Change
4. Hate Bureaucracy
Recap5 Core Attributes of Millennials:
1. Connected & Tech-Savvy
2. Collaborative
3. Embrace Change
4. Hate Bureaucracy
5. Yearn for Mentors & Feedback
5 Ways to Leverage Millennials:
Recap
5 Ways to Leverage Millennials:
1. Offer Workplace Flexibility
Recap
5 Ways to Leverage Millennials:
1. Offer Workplace Flexibility
2. Start a mentoring program
Recap
5 Ways to Leverage Millennials:
1. Offer Workplace Flexibility
2. Start a mentoring program
3. Be Transparent & Communicate Effectively
Recap
5 Ways to Leverage Millennials:
1. Offer Workplace Flexibility
2. Start a mentoring program
3. Be Transparent & Communicate Effectively
4. Question Everything & Pivot
Recap
5 Ways to Leverage Millennials:
1. Offer Workplace Flexibility
2. Start a mentoring program
3. Be Transparent & Communicate Effectively
4. Question Everything & Pivot
5. Don’t discount them
Recap
5 Attributes of Tomorrow’s Workplace:
Recap
5 Attributes of Tomorrow’s Workplace:
1. Collaborative
Recap
5 Attributes of Tomorrow’s Workplace:
1. Collaborative
2. Non-Traditional Career Paths
Recap
5 Attributes of Tomorrow’s Workplace:
1. Collaborative
2. Non-Traditional Career Paths
3. Less Physical
Recap
5 Attributes of Tomorrow’s Workplace:
1. Collaborative
2. Non-Traditional Career Paths
3. Less Physical
4. Creative & Innovative
Recap
5 Attributes of Tomorrow’s Workplace:
1. Collaborative
2. Non-Traditional Career Paths
3. Less Physical
4. Creative & Innovative
5. Expanded use of technology
Recap
By 202575% Workers Globally
Will Be Millennials
Generation Z is Coming
THANK YOU
Twitter: @EdWolfNYC
Blog: www.Ed-Wolf.com
LinkedIn: linkedin.com/in/EdwardWolf
E-mail: Edward.Wolf@gmail.com
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