HERE COME THE MILLENIALS

WHO ARE THE MILLENIALS?

• Generation Y - Children of Baby Boomers
• Born early 1980s-Early 2000s
• 80 million people and 75% of workforce in 2025
• Largest generation in America
• Most ethically diverse in the population

WHAT MAKES THEM DIFFERENT?

• Technology
• Access to information
• Education
• Social Networks
• Shift in Priorities and shift in worldview

WHAT IS IMPORTANT?

• Work/Life Balance
• Structure
• Contribute as a Team
• Feedback
• Social/Environmental Responsibility and making a difference.

IMPACTS/EFFECTS ON THE WORK-ENVIRONMENT?

• College degrees
• Highly motivated
• Open-door policy
• Diverse work environment

IMPACTS/EFFECTS ON WORK ENVIRONMENT

• See themselves as connected to, and part of, the organization.
• Are given opportunities to problem-solve with colleagues
• Develop social relationship and professional relationships.
• Feel valued, respected and appreciated for contributed.

IMPACTS/EFFECTS ON THE WORK ENVIRONMENT

• Ease and speed
• Web-like and can be customized.
• Competent, trustworthy leaders
• Weekly and/or daily feedback
• Open flow of information.

CRITICAL ELEMENTS

• Job Retention
• Increased need for feedback and praise
• Negative stereotypes
• Career development Changing

CRITICAL ELEMENTS OF MILLENIALS

• Concept of Reverse Mentoring
• New Leadership Styles
• Review of current organizational style (Traditional vs. Flexible)
• Be socially conscious organization

PRACTICAL APPLICATIONS/RECOMMENDATIONS

• Recruitment strategy
• Offer perks that appeal to desire for innovation/balance
• High-tech recruiting tools
• Sign-on bonus
• Student-Loan Repayment program

PRACTICAL APPLICATION/RECOMMENDATIONS

• Be Flexible
• Telework Programs
• Engagement (see notes)

RETENTION STRATEGY

• Work Life Balance
• Added responsibility
• Offer development opportunities
• Contribution to bottom line
• Open communication

REFERENCES

• Generationsatwork.com
• www.pewresearch.org/millenials