Making it Stick:Engaging Your Multigenerational Workforce
Shira HarringtonFounder & President, Purposeful Hire
The High Cost of Employee Turnover
1.5 – 3xs Employee’s Salary
Recruitment Loss of institutional knowledgeTraining of new hireLoss of member relationshipsImpact on morale
Employee Disengagement is Rising
72%US employees who are disengaged
or actively disengaged
Employee Loyalty is Non-existent
• Rampant downsizings for last two decades• Absence of defined benefit plans• Focus on work-life balance• Maslow’s hierarchy: “self-actualization”• Gallup: “People join companies but leave managers”• Increased options for entrepreneurship
High Turnover of Millennials
18 monthsAverage tenure of Millennials
(and declining)
They are paid volunteers!
Traditional Longevity Based on Tenure
4 Years tenure
10 years tenure
Until retirement
Start date
BUT it’s socially unacceptable for Millennials to stay in their jobs for longer than 2 years
Millennial segment grows as Boomers start to retire
75% by 2025
50% by 202035
% in 201
5
Generational Work Values
• Hard work• Sacrifice• Respect for authority• Following the rules• Frugality• Military focus• God and country
Traditionalist Values
• Anything is possible• Live to work• Pay your dues• Face time• Career-focused• Competitive• Long-tenured jobs• Women in leadership• Diversity / Civil rights
Baby Boomer Values
• Independence• Self-reliance• Cynicism• Questions authority• Entrepreneurism• Work to live• Work-life balance
Generation X Values
• Achievement• Diversity• Extreme fun• Highly tolerant of others• Sociability | Team focused• Members of global community• Tech dependent• Now!• Optimism• Street smarts• Mission driven
Millennial Values
Communication StylesBo
omer
s • Diplomatic • In person• Present
Options• Consensus
Gene
ratio
n X • Direct• Email• Sound
bites• Present
facts
Mill
enni
als • Polite
• Positive• Texting• Consensus• Don’t talk
down to them
Rewards and RecognitionBoomers Generation X Millennials
Financial Rewards Time Off Meaningful Work
Public Recognition & Praise Don’t like Public Recognition
Personal and Team Recognition
Title Recognition Freedom to Get Results Title Recognition
Letter of Appreciation Constructive Feedback Mentoring / Coaching
Appreciation for Hard Work Hands Off Supervision Frequent Communication
Work-Life Balance Work-Life Balance Work-Life Integration
Cross Generational Employee Engagement Factors
Perceptions of job importance Being Kept in the Loop
Clarity of job expectations Career advancement opportunities
Regular feedback and dialogue with superiors Quality of working relationships
Inspirational leadershipEffective Internal Employee Communications
Rewards and Recognition
What Millennials Want
Rethinking Performance Evaluations
Performance Evaluation
• Past-Based (Superior/Subordinate)
Performance Coaching
• Future-Based (Athletic Coaching)
20
High Motivation
High Skill Low Skill
Low Motivation
“Passiontivity” ExerciseAligning Skills with Career Motivators
(High Engagement) (Professional Development)
(Stop – Gap) (Disengagement)
How Can You Increase Millennial Engagement at your organization?
1. Create a Millennial (or cross generational) taskforce2. Expand frequency of new career titles3. Give them stretch assignments 4. Allow them to work more collaboratively5. Offer more flexible scheduling options6. Launch community service initiatives7. Create a mentoring program8. Invite them to executive or board events9. Move to performance coaching, “quick hit” feedback10. Make things fun!!
Roundtable Discussion
What is ONE actionable take-awayyou can employ in your organization
to start increasing engagement?
Questions?
Shira HarringtonFounder & PresidentPurposeful Hire, Inc.
www.purposefulhire.com
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