you can't manage millennials: recruiting, engaging, and retaining millennials
TRANSCRIPT
You Can’t Manage Millennials: Recruiting, Engaging, and Retaining Millennials in Today’s Workplace
Mike Maughan
Employee Insights
Agenda
• Millennial Disruption
• Old School vs. New School Business
• Qualtrics Millennial Survey
• Questions & Answers
Millennial Disruption
Music Food Politics
Social Interaction Workplace Transportation Dating
The World Has Changed
State of Millennials in the Workforce
Deloi&e Millennial Survey, January 2014 and Intelligence Group Millennial Survey
By 2025, Millennials will make up 75% of the workforce
52% of Millennials in developed markets anticipate working for
themselves
64% of Millennials said they would rather make $40K at a job they love than $100K at a
job they think is boring
Innovating to Address Global Challenges
Deloi&e Millennial Survey, January 2014
Businesses and Individual Entrepreneurs Universities Government
44% 23% 22%
Deloi&e Millennial Survey, January 2014
Millennials want to work for organizations that: 1. Foster innovative thinking 2. Develop their employees’ skills 3. Make a positive contribution to
society
Who is Qualtrics?The Global Leader in Enterprise Survey Technology
Leader in Enterprise Customers
Leader in Growth and Innovation
Leader in Colleges and Universities
Leading Institutions Choose Qualtrics Employee Insights
Top 5 Ways to Use Qualtrics to Gather Employee Insights
1. Employee Engagement Surveys
2. 360-degree Employee Feedback
3. Employee Satisfaction
4. Employee Feedback
5. Exit Interviews
Old School vs. New School
Individual Contributors
Job description with a clearly defined role
Self-directed without much guidance
Old School Businesses New School Businesses
Oversight
Overseers, Bosses, and Managers Mentors, Coaches, and Leads
Old School Businesses New School Businesses
Employment
Employees want a job Employees want an experience
Old School Businesses New School Businesses
Feedback
Annual performance reviews Continual feedback
Old School Businesses New School Businesses
Adoption
Top down implementation Grass roots adoption
Old School Businesses New School Businesses
Mission / Purpose
Do well Do well while doing good
Old School Businesses New School Businesses
Individual v. Group
Individually focused Group focused
Old School Businesses New School Businesses
Qualtrics Millennials in Tech Survey
• Millennials: Born between 1982 and 2000 • All respondents have some college with 55% college
graduates and another 30% with a graduate degree • 48% of respondents have 4+ years of work experience
Recruit
Millennials Want to Do Good
h&p://beta.dogoodvolunteer.com/
Millennials Want It All
Most Important Thing When Looking for a Job
Professional Growth
CompensaIon Flexible Hours Mission / Purpose
Industry Company Leadership
Mentorship 0%
10%
20%
30%
40%
50%
Recruiting Millennials
Compensation Company Culture
CompensaIon
When Considering a Job Offer Which is Most Important: Title, Compensation, or Mission
60.5% 29.5%
10% CompensaIon
Mission / Purpose
Title
Salary Expectations for First Full-time Job
0%
5%
10%
15%
20%
25%
30%
Less than $20K
$20K -‐ $34.9K
$35K -‐ $49.9K
$50K -‐ $64.9K
$65K -‐ $80K Over $80K
How Important are the Following to You in a Job? • Recognition • Resources • Having close friends at work • Getting paid well • Flexible work schedule • Organization's mission • Opportunities for professional growth
How Important are the Following to You in a Job?
5
6
7
8
9
10
GeZng paid well Having the resources to do
my job
OpportuniIes for professional
growth
Receiving recogniIon
Flexible work schedule
OrganizaIon's mission
Having close friends at work
Culture
All The Amazing Free Food At Facebook’s HQ Gives Some Employees The ‘Facebook 15’�
Company Culture
Collaborative Work Environment
This was ranked most important by 51% of respondents and first or second by 74% of respondents
Company Culture Transparency and
meritocracy tied for second
Dress code and free food were ranked very low
(Free food ranked lowest or second lowest by 71% of respondents)
Company Provided Cell Phone Plan vs. Free Meals
59% prefer a free cell phone plan 41% prefer free meals
Charitable Activities How important is it to you that a potential employee engage in charitable activities (donations, corporate sponsored volunteer work, etc.)?
44% said it was very or extremely important
56% said it was not important to their decision making
Work Schedule: Required vs. Ideal
0%
10%
20%
30%
40%
50%
60%
I manage my own schedule
In the office during set hours
I'm allowed to work remotely, but during set
hours
Generally in the office, but can work remotely
on occasion
Required schedule
Ideal schedule
Company
Culture vs. Company
Company culture:
The organization’s norms, mission, values, and systems
Company strategy and trajectory:
The organization’s plans and opportunities for growth
Company vs. Boss When considering where to work, which is more important to you?
54% said the company’s reputation and trajectory were most important
to them
46% cared most about who they would be working for and learning
from
Engage
How Engaged Are Employees?
If your company were a 10-person crew team, statistically speaking: • 3 employees are rowing with all their hearts • 5 are just along for the ride, looking at the scenery • 2 are trying to sink the boat
According to Gallup’s 2013 State of the American Workplace only 30% of employees are engaged in their work.
Diagnosing Disengagement: Stop the Infection From Spreading
• Actively disengaged employees cost the US economy ½ a trillion dollars per year
• They are more likely to: • Steal from their employers • Negatively influence co-workers • Drive customers away
Gallup, State of the American Workplace: Employee Engagement Insights for US Business Leaders, 2013
Why Organizations Care About Employee Engagement
Employee Engagement is a proven driver of: • Quality • Revenue • Customer Service • Retention • Productivity
Most Exciting Part About Coming to Work
0%
5%
10%
15%
20%
25%
30%
35%
40%
Challenging projects How much money I can make
Co-‐workers I enjoy Opportunity to make a difference
RecogniIon
Challenging Projects
Millennials are not content to sit on the sidelines
Individual Contributors
Job description with a clearly defined role
Self-directed without much guidance
Old School Businesses New School Businesses
Challenging Projects
Provide the right playing field and let them play
Biggest Challenge to Motivation
0%
5%
10%
15%
20%
Not compensated fairly
Unchallenging projects
Challenging co-‐workers
My boss shows no interest in me
I rarely, if ever, receive recogniIon
I am in over my head
On a Daily Basis, What is Most Important For You to Receive?
24%
25%
26%
27%
28%
29%
30%
Challenging opportuniIes Meaning from my work CompensaIon
Non-work-related Social Media
0% 10% 20% 30% 40%
Over 2 hours
Between 1 and 2 hours
30 to 59 minutes
Less than 30 minutes
Retain
Average Time Per Job
0%
10%
20%
30%
40%
50%
Over 8 years Between 4 and 8 years
Between 2 and 4 years
Less than 2 years
Work Life Balance vs. Work Life Integration
Work / Life Integration • 62% count at least one co-worker among their closest friends Regarding non-work-related social media accounts • 75% are connected to at least 2 co-workers
• 35% are connected to their boss
• 57% are likely or very likely to accept a request sent by a boss
• 26% are likely or very likely to send a request to their boss
What is Most Important to You?
Family Ranked 1st by 61% and 1st or 2nd by 71%
2. Professional success 3. Education 4. Travel 5. Volunteer work 6. Religion
Personal Life at the Office
60% are comfortable talking with their boss about their personal life 40% prefer their boss stick solely to work related matters
Comfort Talking About at Work
4
4.5
5
5.5
6
6.5
7
7.5
8
Personal goals
Health Personal challenges
Family situaIon
DaIng life PoliIcs Relgion
Recognition
47% chose recognition by the CEO in front of the whole company
53% chose a $500 cash bonus with no
recognition at all
Nearly 40% of Millennials said that dislike of their boss would be a bigger factor in their decision to quit, than dislike of their job
Value Most in a Boss
27% said, “A willingness to be a mentor”
• Trustworthiness (18%) • An expert (15%) • Kindness (15%) • Shares credit / takes blame (10%) • Provides autonomy (10%)
Most Want to Avoid in a Boss Micromanager
Incompetence
Mean
Narcissistic / selfish
Unreasonable
Perception of Your Boss
0%
10%
20%
30%
40%
50%
I'm conInually learning from
my boss
My boss has lots to teach, but we rarely
interact
I've learned as much as I'm going to
I know more than my boss
Oversight: Actual vs. Ideal
0%
10%
20%
30%
40%
Check on every detail of every
project
Daily check in Weekly check in Monthly check in Check in only when I need something or
have a quesIon
Actual
Ideal
Feedback Frequency: Actual vs. Ideal
0%
5%
10%
15%
20%
25%
30%
Daily 2-‐3 Times a Week
Once a Week
2-‐3 Times a Month
Once a Month
Less than Once a Month
Never
Actual
Ideal
Constructive Criticism
0%
10%
20%
30%
40%
50%
60%
Face-‐to-‐face from my direct supervisor
Via email from my direct supervisor
Face-‐to-‐face from a co-‐worker I trust
Conclusion
How Do You Manage Indiana Jones?
You can’t
How Do You Manage Indiana Jones? Channel his energy and talents
1. Give him big problems to solve and
remove obstacles from his path
2. Pay him
3. Make his work an experience worth sharing, not just a job to get done
4. Mentor, don’t micromanage
5. Let him run fast and give him room to fail
Provide the Playing Field
Qualtrics 360Employee Development Made Simple
With Qualtrics 360, you can: 1. Save time with our intuitive, point-and-click interface 2. Configure your 360s with our flexible form development 3. Access real-time, customizable reports 4. Automate management of the 360 process 5. Integrate with your existing HRIS through our open API
qualtrics.com/360
Qualtrics Employee EngagementEmployee Surveys Made Simple
With Qualtrics Employee Engagement, you get: 1. Real-time results 2. Sophisticated hierarchical reporting 3. Individualized, custom dashboards 4. Organizational structure 5. Action planning 6. Flexible form creation
qualtrics.com/ee
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Questions?