Great Place to Work Annual Conference 2019 - Renaissance Mumbai Convention Centre Hotel, Mumbai
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Great Place to Work®
Annual Conference 2019
21st February, 2019
Renaissance Mumbai Convention Centre Hotel, Mumbai
What are we discussing today?
1. Is Gen Y & Millennials the real issue in
Engagement ?
2. Is Employee Retention a function of creating a
Great Workplace ?
3. Does Engagement lead to Business Results ?
2
Generations – The Western definition
Born between 1946 - 1964
Born between 1965 - 1978
Born in the 1980s and 1990s
3
69% of Corporate India is Gen Y
55 years and
45 years to 54
above
years
1% 25 years or
7%
younger
35 years to 44 21%
years
23%
26 years to 34
DATA: 518 years 48%
ORGANIZATIONS
Source: Great Place to Work® database 2018 4
It’s not a myth: Gen Y perception is lower than the
other generations
Gen Y Others
79
% of Positive Responses
74
Gen Y Others
Great Place to Work® survey instrument has 57 items to
measure Employee Experience. The average positive
responses across all the items is called the Trust Index©
5
Myth: Gen Y is closer to Baby Boomers
90 88
83
% of Positive Responses
80 78
74 74
70
60
50
Less than 26 - 34 years 35 - 44 years 45 - 54 years 55 years or
25years older
Gen Y Gen X Baby Boomers
6
So far we have seen …
• There are significant differences in perceptions about an
organisation’s workplace culture between Gen Y and
other generations, Gen Y having lower perceptions.
• Gen Y is closer to Gen X than Baby Boomers. In other
words, the lower the age difference, the closer are
perceptions.
7Where are the biggest gaps in perceptions?
GenY Others
90 84 85
75 77 76 77
74
70 71
68 68
62 63
60 56
30
Retention – I Job Security Fair Pay – I am Profit Sharing - Reliability - Care –showing Pride – My
want to stay paid fairly fair share of delivering on sincere interest work has
here for a long profits promises special meaning
time
8So, what myth are we busting?
• Lower levels of engagement of Gen Y is not a myth…… it is
a wild goose chase!
• What if it is not age that is driving the difference in
perception?
• Let’s look at another demographic – tenure in the same
organization
9Short tenured people and Gen Y perceptions
are the same
90 84
77
% of Positive Responses
74
70 75 63
68 70
84
50 75 71 70 76
56 69
57 61
30
Retention Profit Sharing Management Delivers Job Security
on Promises
Less Than 5 years More than 5 years Gen Y Others
10The perceptions are same because they are the
same set of people!
100 Gen Y Other Gen 95
86 85 83
76
75
54
50 46
24
25 17
14 15
5
0
Less than 6 months 1 - 2 years 3 - 5 years 6 - 10 11 - 15
6 months to 1 year years years
It is only after 10 years that Gen Y becomes a small minority… 11It is only after 10 years that positive perceptions
are as high as at the time of joining!
85 85
80 81
76 77
% of Positive Responses
73 73
70
50
1-2 years
3-5 years
6-10 years
16- 20 years
> 20 years
11-15 years
< 6 months
6 months - 1 year
Trust Index ©
12Can the Gaps between GenY and Others be
explained on the basis of Tenure ( Less than 5 years
and More than 10 years) ?
GenY Others
90 84 85
75 77 76 77
74
70 71
68 68
62 63
60 56
30
Retention – I Job Security Fair Pay – I am Profit Sharing - Reliability - Care –showing Pride – My
want to stay paid fairly fair share of delivering on sincere interest work has
here for a long profits promises special meaning
time
8Fact – With more than 10 years of tenure in the same
Organization, over a quarter move to senior
management
Tenure more
29% 45% 26%
than 10 years
Tenure 6 years to
39% 46% 15%
10 years
Tenure less than
45% 43% 12%
5 years
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Supervisory Managerial Senior Managerial
14Fact – Senior Management have significantly
higher positive perceptions than other levels
82
80
76
% of Positive Responses
74
70
60
50
Supervisory Managerial Senior Managerial
Trust Index©
15So far we have seen…
• Gen Y perceptions drop in the first 5 years after joining the
Organization
• Gen Y do not join an Organization with a low perception
• Lower tenure and lower level in the hierarchy corresponds
to higher number of Gen Y
• The areas where Gen Y has significantly lower perceptions
than other Generations are also the areas where lower
tenured employees have lower perceptions.
16Should we focus on the Age (Generations) of the
employee, or on their experience with shorter tenure
and at lower levels?
17The Best-in-class employers do not seem to
differentiate in engaging Gen Y and others
Gen Y less
engaged, in 16%
companies
All equally
engaged, in 82%
companies
Gen Y more
engaged, in 2%
companies
Top 100 companies ranked in 2018 – Fisher’s Exact test of Proportions was
carried out to categorise organizations. 18With good reasons - What drives Gen Y
perception , drives the other generations as well!
Baby
Gen Y Gen X Boomers
Pride in the Organization
Career and Growth Opportunities
Fair Performance Appraisal
Family or Team Feeling
Note: Analysis based on co-efficient of regression 19Why do some organizations need to
work harder to engage employees?
Set A Companies
Employee Survey
Set A scores similar to
Retail Set B
Manufacturing
Best workplaces
with all generations
equally engaged Set B Companies
(Top 100) - Many more
Set B practices in
IT/ ITES • Developing
Telecom • Balancing
Financial Services
• Celebrating
• Hiring
Data of Gen Y employees only • Supporting
Note: Based on preliminary analysis. Needs further validation 20Gen Y in different industries have varied
perceptions
Gen Y in IT Gen Y in IT
GenY in Manufacturing GenY in BFSI
82 79
75
70
63
58
54 54
I feel I receive a I feel good about I feel I receive a Management
fair share of the the w ays w e fair share of the makes its
profits made by contribute to the profits made by expectations
this organization. society. this organization. clear.
Note: Items selected to illustrate differences in perceptions. There are areas where the perceptions of
Gen Y in IT is higher 21In Conclusion
1.Engagement levels of Gen Y are less than older age groups. However,
looking at Organizations only using a prism of age may not be useful.
2.Tenure in the organisation and seniority in hierarchy (roles) seems to
drive these differences than just age. Using tenure as a lens to look at
employee engagement can be more productive than using age.
3.The key drivers of overall perception of working at a great workplace
are the same for Gen Y and other generations.
22In Conclusion
4. Majority of best workplaces seem to do a good job of engaging
all generations and are not obsessed with only Gen Y.
5. Even within Gen Y there are significant differences between
perceptions of Gen Y across industries.
6. Employees of some industries seem to be harder to please than
some others – this seems more a factor of socio economic
background than just age related difference.
7. Strategies for engagement will be more effective by looking at
factors like tenure, job level, educational and socio-economic
backgrounds, rather than trying to look at employees purely on
basis of generations.
23What are we discussing today?
1. Is Gen Y & Millennials is the real issue in
Engagement ?
2. Is Employee Retention a function of creating a
Great Workplace ?
3. Does Engagement lead to Business Results ?
24Employees at Best Companies would like to stay for a longer
duration
100
95
This is a great place to work.
90
85
80
75
70
65
60
55
50
50 55 60 65 70 75 80 85 90 95 100
REST BEST
I want to work here for a long time.
25Do they really stay longer?
100
This is a great place to work.
90
80
Best: Best:
15% 70 85%
Rest: Rest:
60
23% 77%
50
40
50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0%
REST BEST
Lower Attrition
26Manufacturing &
9%
21%
Production
Transportation
14%
16%
Construction,
Infrastructure & Real
15%
Estate 16%
Prisoners at Work
Telecommunications
15%
15%
Actual Attrition
Media
16%
16%
across industries?
Information
24%
18%
Technology & ITeS
Biotechnology,
Pharmaceuticals &
20%
25%
Healthcare
Professional Services
22%
29%
Low Intent to stay
Financial Services &
25%
Insurance
15%
Varying percentages of attrition & intent to stay
Birds of Passage
Retail
27%
18%
Hospitality
14%
36%Industry wise Attrition for Best vs Rest
Retail 32
31
Professional Services 27
15
Non-profit and Charity Organisations 14
12
Rest
Media 20
Best 18
Manufacturing & Production 11
12
Information Technology 24
15
Hospitality 64
35
Financial Services & Insurance 31
22
Construction, Infrastructure & Real 12
Estate 15
0 10 20 30 40 50 60 70
28Conclusion
Great workplaces have lower attrition, but other
factors seem to impact attrition more
29What are we discussing today?
1. Is Gen Y & Millennials is the real issue in
Engagement ?
2. Is Employee Retention a function of creating a
Great Workplace ?
3. Does Engagement lead to Business Results ?
30Empirical evidence of business benefits of a Great
Place to Work
The Best Workplaces
continue to deliver
better shareholder
returns year on year!
Source: Independent study done by RSM InternationalBut is this Great Place to Work a cause or an effect?
https://www.youtube.com/watch?v=Z5KZhm19EO0A Great Place to Work is a place where high trust
leads to sustained business results.
10
Business Performance
(Profitability Score)
Burnout
Business Performance
Sustained Burnout Culture Sustained
Culture Performance Performance
Business Culture of Business At Culture of
at Risk Comfort Risk Comfort
1
50
100 Taking everything into account, I would say
this is a great place to work.
Employee ExperienceTHANK YOU
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