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TRANSCRIPT
Winning the War for
Talent: Attracting
Millennials in the
Workplace
Wendy Gustafson, Full Sail Partners
Graham Gardner, Full Sail Partners
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What is the War for Talent?
The war for talent refers to an increasingly
competitive landscape for recruiting and
retaining talented employees
The term focuses on a mindset that emphasizes
the importance of talent to the success
of organizations
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Fueling the War
For the first time in US history, the percentage of working age population is declining
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But Wait, Where’s the Disconnect?
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Who are these Millennials?
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What is the War for Talent?
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What is the War for Talent?
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Why do we care about millennials
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The Millennial Engagement Challenge
A 2011 Pew study on young adults and work found that 41 percent of the public believed young
adults (between the ages of 18 and 34) were having a tougher time in today’s marketplace than
middle-age and older adults when it came to finding long-term employment
Government statistics appear to back that impression. Since 2010, the share of young adults
currently employed (54 percent) is the lowest since the U.S. government started collecting such
data in 1948
In addition, the gap in employment between young adults and all working adults—about 15
percentage points—is the widest on record. Furthermore, younger adults employed full time have
experienced a 6 percent drop in weekly earning—more than any other age group over the past four
years (Taylor et al, 2012)
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The Millennial Engagement Challenge
For employers, this means that many working Millennials are probably not engaged and, according
to the SBR Consulting survey, 70 percent of them are planning to change jobs once the economy
improves (Nekuda, 2011)
This potential exodus of Millennials from their current jobs combined with Baby Boomer retirements
could put organizations at risk at a time when many are only now finally making it solidly back into
the black
This turnover will mean knowledge and productivity loss, higher recruitment and training
costs, not to mention the leadership gaps that will be created by exiting Baby Boomers. There are
simply not enough Gen Xers in the workplace to fill the leadership gaps that will occur, and
employers must prepare Millennials now to help fill those gaps.
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What Millennials want from their Company
Attract and Retention - Old School
Individual
• Direct Monetary Rewards
– Salary
– 401k
• Indirect Monetary Rewards
– Heath Insurance
– Child Care
– Vacation Time
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Organization
• Office (with a window even)
• Lunches/dinners with
leadership
• Career Training
Retention – New School
Individual
• All of the above..plus
• Continuing Education
• Retention Bonus
• Performance Bonus
• Volunteer Days
• College Debt
Reimbursement
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Organizational
• Flexible work schedule
• Work/Life Balance
• Focus on Production not
“worked”
• Social Conscience
• Individual Career Path
Go Mobile
Work/life balance
• Go Mobile
• Telecommute
Production
• Lay out clear end goals
• Evaluate individuals on
goals not hours
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Social Conscious
• Provide volunteer oppts
• Company mission
Career Path
• Not everyone wants “mgmt.”
• Training and education
Retention – New School
Culture
• Empowered teams
• Continuous feedback
• Autonomy and freedom
• Socially responsible
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Mentoring Challenge
Mentors don’t manage.
• Flexible Mentorship programs – allowing for multiple mentors who
the employee feels comfortable with
• Feedback, Feedback, Feedback
• Mentorship of Millennials is a two way street – Listen as much as you
talk
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Companies Leading the Way
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Companies Leading the Way
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Companies Leading the Way
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More Examples
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Questions?
If you have any questions do not hesitate to reach out:
Wendy Gustafson
Graham Gardner