Motivating the Millennials - FILES/2016 Programs/Dr Bob Nelsآ  Motivating the Millennials with Dr. Bob

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  • Washington Area Comp & Benefits Association February 18, 2016

    1

    Motivating the Millennials with Dr. Bob Nelson

     Motivating the Millennials

    WACABA presents

    Bob Nelson, PhD

    Meet Bob Nelson, PhD  President, Nelson Motivation Inc.  Co-Founder, Recognition

    Professionals International  New York Times / Wall St. Journal

    Best-selling Author

  • Washington Area Comp & Benefits Association February 18, 2016

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    Motivating the Millennials with Dr. Bob Nelson

    Dr. Bob!

     Motivating the Millennials

     The Pending Crisis in Skilled Labor  Profile of the Millennials  Key Influences & Events  Millennial Work Attributes  Motivating the Millennials  Questions & Answers

  • Washington Area Comp & Benefits Association February 18, 2016

    3

    Motivating the Millennials with Dr. Bob Nelson

    The Pending Crisis in Skilled Labor

    Not a labor shortage, but a skilled labor shortage.

  • Washington Area Comp & Benefits Association February 18, 2016

    4

    Motivating the Millennials with Dr. Bob Nelson

    The Skilled Labor Gap will Increase

    NEEDEDAVAILABLE

    2002 2012 2022

    P E

    O P

    L E

    (M

    IL L

    IO N

    S) 250

    200

    150

    100

    50

    Adapted from Employment Policy Foundation Analysis and projection of Census/BLS and BEA data

    In a recent year, the U.S. was short 3 million skilled workers in the manufacturing sector alone.

  • Washington Area Comp & Benefits Association February 18, 2016

    5

    Motivating the Millennials with Dr. Bob Nelson

    Source: Bureau of Labor Statistics

    • 30 million Americans will be added to the U.S. healthcare system in response to the Affordable Care Act Healthcare Reform

    • 1 million additional nurses will be needed by 2020 in America, representing a 58% increase since 2000: half for attrition, half for Obamacare

    • 37% of newly licensed RNs are thinking of leaving their jobs (a 13% current vacancy rate)

    The Pending Shortage of Nurses

    “The war for talent is over: Talent won.”

    Carl Camden President and CEO

    Kelly Services

  • Washington Area Comp & Benefits Association February 18, 2016

    6

    Motivating the Millennials with Dr. Bob Nelson

    The Millennials Are Coming

    The Millennials Are Coming

    Generation Age % Workforce Traditionalists (69+) 2 Baby Boomers (50 - 68) 34 Generation X (30 - 49) 28 Millennials (21 - 29) 36

    44 MM Millennials are here; 46 MM more are coming

    50 MM Gen Xers can’t replace them70 MM Boomers retiring

  • Washington Area Comp & Benefits Association February 18, 2016

    7

    Motivating the Millennials with Dr. Bob Nelson

    76% of younger workers plan to find a new job as the economy improves.

    — Harvard Business Review

    “ ” It costs employers $15-25K to replace every Millennial who leaves the organization

  • Washington Area Comp & Benefits Association February 18, 2016

    8

    Motivating the Millennials with Dr. Bob Nelson

    Profile of the Millennials: Do You Know Me?

    MILLENNIAL MAN

  • Washington Area Comp & Benefits Association February 18, 2016

    9

    Motivating the Millennials with Dr. Bob Nelson

    D.O.B.

    Height

    Weight

    Address

    Education

    Tools

    Connection

    Other

    1980-2000

    As far as I think I can go

    I matter and what I do matters

    Upscale, and wanting to move up

    The best in history

    All the latest high-tech

    Instant, variety of modes

    Optimistic, socially responsible

    Millennials: What They Value

    • 61% are actively worried about the world

    • 72% want to make a direct social impact

    • 60% value a sense of purpose in an employer

    • 88% don’t feel $$ is their main motivator

    • 78% will work for less if challenged

    • 81% donate to one or more charities

  • Washington Area Comp & Benefits Association February 18, 2016

    10

    Motivating the Millennials with Dr. Bob Nelson

    The Millennials Speak

    Key Influences PARENTS

     Loving, Sheltering  Helicoptering, Clinging  Pressure to Learn, Succeed  No Limits, No Boundaries  Close Relationships (90%)  Congruent Values

  • Washington Area Comp & Benefits Association February 18, 2016

    11

    Motivating the Millennials with Dr. Bob Nelson

    TECHNOLOGY  iAnything  Texting, IM  Facebook

    76% use instant messaging75% have a profile on Facebook 44% read blogs

  • Washington Area Comp & Benefits Association February 18, 2016

    12

    Motivating the Millennials with Dr. Bob Nelson

    PEERS

    Active in Teams thru Childhood

    Constant Contact via Cell & IM

    Peer Influence & Pressure

  • Washington Area Comp & Benefits Association February 18, 2016

    13

    Motivating the Millennials with Dr. Bob Nelson

    1991

    Events Shaping the Millennials

    9/11/01

    1991 1999 1999

    2008 20111999 - 2000

     Millennial Work Attributes

  • Washington Area Comp & Benefits Association February 18, 2016

    14

    Motivating the Millennials with Dr. Bob Nelson

    On Expectations

    On Working Hours

  • Washington Area Comp & Benefits Association February 18, 2016

    15

    Motivating the Millennials with Dr. Bob Nelson

    On Authority

    Upsides

    Downsides

    Millennial Work Attributes

     Techno wizards  Quick Learners  Resourceful  Hardworking, high achieving

     Inflated opinion of themselves  Overconfident, especially given

    limited experience  Need to be constantly challenged  Need instant and ongoing feedback

  • Washington Area Comp & Benefits Association February 18, 2016

    16

    Motivating the Millennials with Dr. Bob Nelson

     What Millennials Want in a Job

     Career Advancement Opportunities (55%)  Salary (52%)  Interesting & Challenging Work (42%)  Benefits (30%)  Training/Mentorship (27%)

     How to Motivate Millennials

     Work Direction  Personal Development  Social Interaction  Recognition/Feedback

  • Washington Area Comp & Benefits Association February 18, 2016

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    Motivating the Millennials with Dr. Bob Nelson

    Work Direction

     Provide general structure to work within, but allow their imprint

     Ask for and use their ideas

     Keep them engaged

    69% of Millennials want more freedom at work

    89% of Millennials want to choose where & when they work

    Personal Development

     Be a mentor & a coach  Provide opportunities to

    learn and grow  Think long-term; connect

    them to the future

    75% of Millennials want mentors

  • Washington Area Comp & Benefits Association February 18, 2016

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    Motivating the Millennials with Dr. Bob Nelson

    Social Interactions

     Allow team work assignments

     Provide socializing opportunities

    88% of Millennials consider a positive work culture essential

    Recognition/Feedback

     Provide frequent feedback based on their performance.

     Provide context for how their contributions relate to goals.

     Be transparent and authentic.

    Most Millennials expect daily recognition & feedback at work

  • Washington Area Comp & Benefits Association February 18, 2016

    19

    Motivating the Millennials with Dr. Bob Nelson

     How to Motivate Millennials

     Keep Them Challenged  Personally Coach  Create Social Interactions  Frequent Recognition

    and Feedback

    Zappo’s Mission: “To Live and Deliver WOW”

  • Washington Area Comp & Benefits Association February 18, 2016

    20

    Motivating the Millennials with Dr. Bob Nelson

    Compliments of WACABA

    www.drbobnelson.com 1‐858‐673‐0690

  • Washington Area Comp & Benefits Association February 18, 2016

    21

    Motivating the Millennials with Dr. Bob Nelson

    www.drbobnelson.com 1‐858‐673‐0690

    www.drbobnelson.com 1‐858‐673‐0690

  • Washington Area Comp & Benefits Association February 18, 2016

    22

    Motivating the Millennials with Dr. Bob Nelson

    I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.

    — Maya Angelou American Poet Laureate

    “ ”

    Bob Nelson, Ph.D. bob@drbobnelson.com

    1 (858) 673-0690 www.drbobnelson.com

    www.linkedin.com/in/drbobnelson

    Questions?

     Speaking & Consulting Services  eLearning Modules & CEU Credit  Resources, Articles & Assessments  Best Product & Bulk Book Discounts  Free Tip-of-the-Week Registration

  • Washington Area Comp & Benefits Association February 18,