NEXT GENERATION retention...GenERATION Z < 20 50+ million Millennials 21-37 76 million Generation X...
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by Ryan Jenkins [email protected] www.ryan-jenkins.com/NAMA NEXT GENERATION retention Aspects that Instill Loyalty in a Millennial Workforce
Transcript of NEXT GENERATION retention...GenERATION Z < 20 50+ million Millennials 21-37 76 million Generation X...
by Ryan [email protected]
www.ryan-jenkins.com/NAMA
NEXT GENERATION
retentionAspects that Instill Loyalty in a Millennial Workforce
The next generation provides data points into what’s next.
Today’s big ideasomething to chew on
Q&A and
agendaso what? & what now?
recapwho are theymillennials
[email protected] — www.ryan-jenkins.com/nama
5 strategiesto engage Millennials
Age Numbers
GenERATION Z < 20 50+ million
Millennials 21-37 76 million
Generation X 38-53 51 million
baby Boomers 54-72 75 million
Builders 73-90 56 million*
G.I. Generation 91+ 60 million*
THE Generations
millennialswho & why
of Millennials are disengaged at work, the most of any generation.
largest generation digitally dependent
71%
of Millennials expect to leave their organization by the end of 2020.
66% 70%
21-37 yrs old
most educated
of Millennials might ‘reject’
traditional business to work
independently.
trillion is the estimated
wealth of U.S. Millennials by
2020.$24
58%of adults worldwide ages 35+ agree that “kids today have more in common with their global peers than they do with adults in their own country.”
1st global generationMillennials and Generation Z
agendaso what? & what now?
Q&A andrecap
5 strategiesto engage Millennials
MILLENNIALSwho are they
Boomers Generation X Millennials Generation Z
authoritative hierarchical Coach networked
Sage Sherpa SoLDIer Student
no news is good news
Semi-Annual Reviews
routine Check-ins
360˚ real-time feedback
sum
mar
yvi
ewat
titu
de
leadershipdifferent preferences
leadershipstrategy #1
self reviewsconsider
#1 - Millennials are more critical#2 - Ownership is taken#3 - Managers turn into coaches
leadershipstrategy #1: self review examples
Real estate firm, Hodges Ward Elliott, has their
millennials review their own performance before meeting with managers.
AT&T Teams are connected via the “Loop”
app where employees create goals, receive feedback, and adjust
performance.
General electric Managers give constant feedback through an app called
“Performance Development at GE” (PD@GE).
leadershipshift in authority
Coaching is the #1 leadership and leaning style thatresonates with the emerging generation.
leadershipstrategy #2
the sideCoach the next generation through their learning,
guide on
failures, and successes.
resist advice giving.
leadershiphow to coach Millennials
#1 - What’s on your mind?#2 - And what else?#3 - What’s the real challenge here for you?#4 - How can I help you?
#5 - What was most useful or valuable here for you?
ask more questions.
leadershiphelpful tools for coaching
A dynamic pulsing platform that enables focused communication
on enterprise topics like culture, events,
strategy & Talent.
An employee engagement platform
that offers innovative pulse surveys, peer
recognition & performance reviews.
an inter-company employee feedback
tool where employees answer questions &
managers read & comment on responses.
Boomers Generation X Millennials Generation Z
one-to-one one-to-many many-to-oneindividualized and
communal
on-the-job and classroom
E-learningMICRO and on-
demandMobile, V.R.
and A.R.
refine niche expertise
formal and top-down approach
way to get ahead
constant and continuous
sum
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titu
delearning & Development
different perspectives
learning & Developmentimpacts entire employee lifecycle
N 1 factor Millennials consider when starting a new job is sufficient Training.
80%71%
of Millennials said an emphasis on personal growth is the most important quality of a company’s culture.
of Millennials who are likely to leave an organization in two years are dissatisfied with how their leadership skills are being developed.
o
learning & Developmentstrategy #3
culture of learningcreate a
Important elements of next generation training:
microlearning, on-demand, design, blended, etc.
strategy #3: culture of learning examples
SAP makes training fluid with rotational programs
where employees can change roles every 3
months & by shadowing someone in a different role
for 2 weeks.
LinkedIn gives employees a monthly “InDay” which
they can put toward community service or an
in-house class (like coding, graphic design, or
marketing).
Power design’s training is less lecture and more
gamified—highly interactive, virtual
simulations & Leaderboards.
learning & development
career pathsdefine
learning & developmentstrategy #4
offer options
provide hints
deliver training
highlight prgress
the careerpath
gamify
Boomers Generation X Millennials Generation Z
A placea means to
an endA vehicle Life
responsibilitydrive
outcomesfulfilling
learning with big impact
loyalty is rewarded
Work hard, play hard
work smart work fluidly
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WORKdifferent preferences
Why waituntil lunch!?
approach to workdiffers in the next generation
…because if not, your millennial employee will use linkedIN to find a new job by lunch.
mobile technology and ubiquitous connectivity have empowered the next generation.
employee experienceenhance the
The impact an organization’s processes, policies, perks, & programs have on its people.
workstrategy #5
Create organizations where people want, not need, to show up to work.
Material purchasesexperiential purchases
time
sati
sfac
tion
job
sati
sfac
tionconsumers
=tenure
workers
Material employerexperiential employer
shift millennials relationship with work from feelinglike a material purchase to an experiential purchase.
workthe goal of employee experience
action itemWork
Identify any friction points throughout the entire employee lifecycle.How can you create a moreeffortless and seamless experience?
Q&A and
agendaso what? & what now?
recap5 strategies
to engage MillennialsMILLENNIALSwho are they
Contact [email protected]/linkedin
book ryan-jenkins.com/manual
SLIDES ryan-jenkins.com/Nama
ADDITIONAL RESOURCEStake a picture of this slide
win a signed copy of the book
Thank [email protected] — @theryanjenks
references
The logos used in this presentation are the property of the respective third parties.
disclaimer
Ford, Trend Report 2015: http://www.at.ford.com/SiteCollectionImages/2014_NA/Dec/Ford-2015-TrendReportBook.pdf
Boston College Center for Work & Family, Creating Tomorrow’s Leaders: the Expanding Roles of Millennials in the Workplace, Lauren Stiller Rikleen, 2011, http://www.bc.edu/content/dam/files/centers/cwf/pdf/BCCWF%20EBS-Millennials%20FINAL.pdf
Boston College Center for Work & Family, Millennial Careers: http://www.bc.edu/content/dam/files/centers/cwf/pdf/BCCWF%20Millennial%20Careers%20FINAL%20for%20web.pdf
UpWork, Millennial Majority Workforce Study: http://www.elance-odesk.com/millennial-majority-workforce-infographic
Jason Ryan Dorsey, Y-Size Your Business: How Gen Y Employees Can Save You Money and Grow Your Business (Wiley, 2009)
Jeff Fromm & Christie Garton, Marketing To Millennials: Reach the Largest and Most Influential Generation of Consumers Ever (New York: Barkley Inc, 2013)
Barkley, The Boston Consulting Group (BCG), and Service Management Group (SMG), 2011-2013
Deloitte: The 2014 Millennial Survey - https://www.deloitte.com/millennialsurvey
27 Stunning Millennial Stats About Our Future Employees, Leaders, Consumers, & Parents http://ryan-jenkins.com/2014/10/27/27-stunning-millennial-stats-about-our-future-employees-leaders-consumers-and-parents/
Forbes, 2014: Enough With The Free Food Already, Millennials Want Opportunity and Fair Pay:http://www.forbes.com/sites/datafreaks/2014/09/11/enough-with-the-free-food-already-millennials-want-opportunity-and-fair-pay/
22 Shocking Stats About Millennials To Help You Chart Tomorrow’s Changehttp://ryan-jenkins.com/2013/09/16/22-shocking-stats-about-millennials-to-help-you-chart-tomorrows-change/
YPulse: Youth Marketing and Millennial Marketing: https://www.ypulse.com/Harvard Business Review: https://hbr.org/2015/02/millennials-want-to-be-coached-at-workCenter for Generational Kinetics: http://genhq.com/wp-content/uploads/2015/06/Unlocking-Millennial-Talent-c-2015-The-Center-for-Generational-Kinetics.pdfPricewaterhouseCoopers: http://www.pwc.com/gx/en/issues/talent/future-of-work/millennials-survey.htmlEventbrite, Millennial Research: http://eventbrite-s3.s3.amazonaws.com/marketing/Millennials_Research/Gen_PR_Final.pdfDeloitte:,The 2015 Millennial Survey: http://www2.deloitte.com/content/dam/Deloitte/global/Documents/About-Deloitte/gx-wef-2015-millennial-survey-executivesummary.pdfAV Network: http://www.avnetwork.com/av-technology/0002/report-gen-y-executives-prefer-video/91604
Deloitte: The 2016 Millennial Survey: http://www2.deloitte.com/global/en/pages/about-deloitte/articles/gx-millennials-one-foot-out-the-door.html
