How the Millennial Generation is Changing the Workplace
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
How the Millennial Generation
is Changing the Workplace
Jeff Stokes- Ringleader
Owner/President
Next Level Contractor LLC
Rocky Geans Matt Slawson Kristy Wolfe
President & Owner Vice President Assistant Professor
LL Geans Construction Next Level Contractor LLC Bradley University
Learning Objectives:
1. Identify the core difference in work habits and values of each generation.
2. Discuss how to effectively lead and manage millennials.
3. Examine how to keep millennials engaged (and retain them).
4. Access a company’s readiness to embrace and integrate millennials.
913-735-6206
Text Your Question
Put your Full Name and
then Question
Five Generations in the Workplace • Born 1926 – 1946 : Silent Generation / Traditionalists • Born 1946 – 1965 : Baby Boomers • Born 1966 – 1980 : Generation X • Born 1980 – 1995 : Millennials / Gen Y • Born 1995 – 2010 : Gen Z
Generations by the Numbers
Generations by the Numbers
It is projected that in 2019
Millennials will pass Boomers as
the largest living generation in the
US at 73 million.
The overall US population
continues to grow older. In 2030,
1 in 5 US residents will be
retirement age (65).
Baby Boomer 1946 – 1965
Influences:
• Hard to connect with their parents because they were viewed as
“lucky”
• Vietnam and Cold War
• Assassinations of JFK, Robert Kennedy, and MLK Jr.
• The Civil Rights Movement
• The Space Race
• Beginning of consumerismBaby Boomer 1946 – 1965
Values:
• Less optimistic and more distrusting of the government than their
parents
• Strive for financial security
• Individualism and experimentation
• Pursuing the American Dream
• Challenge authority
• Equal rights. “Protest Generation”Baby Boomer 1946 – 1965
Work Values:
• Value hard work (much like Silent), but for establishing identity and
fulfillment
• Work Ethic = Worth Ethic
• More loyal to the team than the company
• Values collaboration, but wants respect from younger generations
• Ambitious and driven towards retirement
Motivation: Will work hard for personal gainBaby Boomer 1946 – 1965
Technology:
Television was the emerging technology during this time. This
influenced boomers significantly by how they received information. It
also pushed consumerism in society to greater heights.Generation X 1966 – 1980
Influences:
• Fall of Berlin Wall and end of communism
• End of Vietnam and Cold War
• AIDS
• Reagonomics
• Experienced more divorces than any other generation
• 1st Gulf WarGeneration X 1966 – 1980
Values:
• Independent and self-reliant
• Comfortable with feedback
• Mistrusts institutions and rejects rules
• Education
• Skeptical and pragmatic
• Suspicious of Boomer valuesGeneration X 1966 – 1980
Work Values:
• Less focused on advancement, more focused on work-life balance
• Value open communication and transparency
• Outcome oriented
• Prefer casual / friendly environment
• Invest loyalty in a person, not a company
Motivation: FreedomGeneration X 1966 – 1980
Technology:
This generation saw the rise of the personal computer. They were the
first generation to develop ease and comfort with technology.Millennial 1980 – 1995
Influences:
• Columbine shootings
• 9/11 attacks and terrorism
• Death of Diana and OJ trial
• High levels of student debt
• Helicopter parents
• Dramatic increase in mediaMillennial 1980 – 1995
Values:
• Emphasis on education
• Entrepreneurial
• Instant gratification, impatient, short attention span
• Diversity, much more culturally and racially tolerant
• Achievement oriented
• Consumerism
• Community service is importantMillennial 1980 – 1995
Work Values:
• Avoids intense pressure
• Seeks out mentorship and coaching
• Desires strong leadership
• Wants instant feedback and a positive environment
• Values performance over process
• Always learning • Strong multi-taskers
Connect work to personal and
Motivation:
career goalsMillennial 1980 – 1995
Technology:
This generation saw the rise of the internet. This has transformed the
way they work and communicate. Globalization was also greater than
ever before due to the rise of this technology.Generation Z - Born 1995 - 2010
Also, known as the iGen, they are the first generation to be ‘connected’
since birth. They do not know a world without the internet and smart
phones. This is a growing generation that is quickly increasing in the
workforce.Embrace Millennial Issues: • Recruitment • Hiring • Onboarding • Training & Engagement • Retention
Recruitment/Hiring Where do we find millennials to hire? • Referrals • Social media • Job shadow programs • Job fairs (colleges/junior colleges) • Trade shows • School recruiting
Recruitment/Hiring
What do they want in the recruiting process?
• Personalized experience (drink choice)
• Team interviews
• Ask behavioral questions to better match core values of
individual and company
• Find out what the candidate cares about
• Talk benefits not payRecruitment/Hiring What are they looking for in their career? • Flexibility • Community-oriented activities • Utilize knowledge of technology • To be provided training
913-735-6206
Text Your Question
Put your Full Name and
then QuestionOn-Boarding and Training • Hiring a millennial is only one-third the channel, don’t lose them right out of the gate • Ensure you are ready for them and provide a strong on- boarding and on-going training program • Remember the collaborative perspective so many take, everything is integrated not individualized
Organizational Retention Three Keys to Retaining Millennials • Strong Leadership • Engaging Environment • Real-time Feedback
Leadership & Training
Organizational Retention
Performance Management
Don’t tolerate poor performance.
This is one of the quickest ways to increase frustration and
motivate millennials to leave.PERFORMANCE PYRAMID
Peak
Performance
Verify Capacity
Give Feedback and
Coach
Tie Rewards to Review
Performance Performance
Provide Tools & Provide Job
Resources Training
Define Role & Set Standards &
Responsibilities ExpectationsOrganizational Retention Mentoring / Reverse Mentoring Definition of mentor = a trusted counselor or guide Keys to Successful Mentorships • Built on a relationship of trust • Define roles and responsibilities • Clearly defined goals • Collaborative problem solving
Mentoring & Leadership
32%
63% 68%
… of millennials say their Those intending to stay for
leadership skills are not being more than 5 years are twice
fully developed. as likely to have a mentor.
• https://www2.deloitte.com/content/dam/Deloitte/global/Documents/About-Deloitte/gx-millenial-survey-2016-exec-summary.pdf913-735-6206
Text Your Question
Put your Full Name and
then QuestionCompromise Collaboration
Thanks for your time.
Jeff Stokes – Moderator
Rocky Geans Matt Slawson Kristy Wolfe
President & Owner Vice President Assistant Professor
LL Geans Construction Next Level Contractor Bradley UniversityAppendix
Rise of Generation Z
Organizational Retention What a Good Leader Looks Like • Listens and learns • Emotional Intelligence (EQ) • Accessible • Determined and focused • Effective communicator • Resilient • Servant Leader • Hands-off delegator • Integrity • Power or Humility
Leadership & Training
Seek to Understand
Synapses-How are you hard wired? How are your co-workers hard wired? How
does this affect leading, coaching, leading your company, your team, your co-
workers?
Reasonable people can have different perspectives,
and that creates conflict.
We all come at a challenge with different filters due to
how we are wired.
Neuro-regeneration refers to the regrowth of or repair
of nervous tissues, cells
http://www.human-memory.net/brain_neurons.htmlLeadership • Your attitude sets the tone in so many situations. It's your responsibility, your duty, to be in excellent shape; mentally, physically, spiritually. Who you are is so critical to how other's will feed off of you. • Look for OFI's in your co-workers, "Opportunities for Improvements", not "problems", "mistakes", "weaknesses". • If you have constructive criticism talk to your co-worker asap, get it done and move on. • I challenge everyone here today that if the culture in your company isn't on of Positive Encouragement, Teaching, Support and so on, that you be the ignitor of that change in you and your company.
Does your company have a healthy culture to attract millennials? q Turnover is low q Leaders are encouraging other leaders to succeed q Gossip isn’t tolerated q The team understands the mission and the vision q Communication is frequent, respectful, and straightforward q Change isn’t avoided, but welcomed q Leaders look to coach, not to blame q The company isn’t siloed, but various departments interact q There is an emphasis on cross-training q You gather feedback from your team and act on it q Collaboration is encouraged
You can also read
