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The Millennial Generation’sImpact on the Workplace
Presented by: Lori Thomas
MBA 592Dr. Edmonds
Wilkes University
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Unmotivated
Self-centered
Disrespectful
Spoiled
STEREOTYPES
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• No official definition of Millennials exists• Pew Research Center Definition:• Millennials: Born 1981 through 1997• Generation Xers: Born 1965 through 1980• Baby Boomers: Born 1946 through 1964
• US Census Bureau – 75.4 Million Millennials (2015)• Largest Generation in US• Most Racially Diverse Generation – 43% Minorities
Data source: Pew Research Center
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Outgoing
Flexible
Eager to Learn
Opinionated
Impatient
Narcissistic
Entitled
Characteristics
Progressive viewpoints
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• Stereotype – Millennials have less of a work ethic
• No difference in # of hours worked between Millennials & Gen Xer’s of the same age
• Need to consider level in the organization
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• 94% of Companies use social media to recruit.*
• Millennials research companies – what will they find?• 88% of Millennials say they look for an employer whose values match their own.**
• Employers should research candidates too• 42% of recruiters say the reconsidered a candidate based on content viewed in a
social profile.*
Attracting Millennials
Data source: *Jobvite**PriceWaterhouseCoopers
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• Pay is important – not only source of satisfaction• Pay as a reward, rather than incentive• 2012: 60% of Companies are taking measures to understand what
different generations want from company benefits*• Millennials value voluntary benefits and support services• Student Loan Aid – gaining popularity
Attracting & Retaining MillennialsCompensation & Benefits
Data source: *Metlife
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• Work-Life Balance• High Priority for Millennials• Enabled by Technology• Commitment from Management• Accountability
• Volunteerism & Charity• Programs for Employees to make a difference
• Casual Dress
Attracting & Retaining MillennialsPolicies & Perks
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• Friendly relationships with manager• Feedback – Frequent, positive & affirming• Clear direction and structure – avoid uncertainty• Upper Management – transparency• Advancement Opportunities – Sooner rather than later
Attracting & Retaining MillennialsPerformance Management & Development
Millennials Expectations:
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CollegialityMillennials in the Workplace
Workplace
Millennials• Desires Work-Life
Balance• Enjoys Teamwork
Generation Xer’s• Likes to Work
Independently• Dislikes Meetings &
Group WorkBaby Boomers• Workaholics• Critical of Coworkers
who don’t share values
Key: Recognize and respect differences. Learn to utilize differences to an advantage
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CollegialityMillennials in the Workplace
Opportunities• Team Players• Willing to Learn from Elders• Technologically Advanced• Prefer Highly Structured Organizations – Likely
to align with Co.’s Strategic Goals• Positive Attitude Towards Diversity
Challenges• Desire for Work-Life Balance (work ethic)• Entitlement – Advancement• Disregard for Chain of Command• Reliance on Teams (risk avoidance)• Desire for Consistent Feedback
Suggestions• Take advantage of Multi-Generational Teams• Provide avenues for interaction with Senior Leaders• Mentorship Programs• Assign Independent Projects/Assignments• Educate!
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• Union Membership*: 35% Public Sector 6% Private Sector• Future of Unions – Will be dependent on Millennials• Majority of Millennials view unions as positive• Viewpoints become less positive with age• Millennials support principals on which Union’s stand
Millennials in the WorkplaceLabor Unions
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Opportunities• Not likely to support defending individuals
disc action or termination• Positive change for Union-Mgmt
relationship• More bargaining power for Employers
Millennials in the WorkplaceLabor Unions
Data source: *Pew
Challenges• Few Millennials join unions
• Positions not available• Attracting Millennials – greater benefits &
wages obtained at the expense of newer members
Suggestions• Encourage Millennial Involvement in Union Leadership• Retirement packages• Negotiate policies/benefits that also appeal to newer members
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• Millennials have grown up with advanced technology
• Internet and Cell phones have changed the way people communicate
• 3/4 of Millennials have social media accounts*• Half of Gen Xer’s & less than a third of
Boomers utilize social media
Millennials in the WorkplaceTechnology
Data source: *Council of Economic Advisors
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Suggestions• Form Multi-Generational Teams – Encourage Learning• Require fact-checking• Protect the use and placement of company name & products
Millennials in the WorkplaceTechnology
Challenges
• Connected by technology hinders opportunity for regular feedback
• High expectations = disappointment• Lack of validation of information• Social platforms & negative publicity
Opportunities
• Technology enables work-life balance arrangements
• Millennials – great resource for those less tech-savy
• Millennials – great resource for technical improvements
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In Summary
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REFERENCES