PwC’s NextGen:A global generational study

Martin Groom PwC Director of Learning and Talent

May 2015

www.pwc.co.uk

PwC

The largest, most comprehensive global generational study ever conducted into the attitudes of “Millennial” employees

• Youngest generation of professionals leaving PwC in growing numbers after just a few years

• Significant majority appeared to lack interest in a traditional professional services career path

• Intense work commitment early on in exchange for significant reward and opportunity later

• Needed to clarify this ‘shift in culture

• Partnered with University of Southern California and London Business School

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May 2015

1000 Millennials and

45 leaders

participated in an online ‘jam’ hosted on social media

44,000web based

surveys completed

anonymously

18 global

territories participated

300interviews

and 30 focus groups

conducted

PwC

Millennials at PwC

• At PwC, Millennials a majority of employees; two out of three of PwC people are in their 20s and early 30s

• Most are unmarried (75%)

• And without kids (92%)

• For 3 out of 4 of them, PwC is their first job out of college

• By 2016, almost 80% of our workforce will be comprised of Millennials

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May 2015

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Key findings

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May 2015

1. Many Millennial employees are

unconvinced that excessive work demands

are worth the sacrifices to their personal life

2. Millennial employees are not alone in wanting

greater flexibility at work

3. Millennials say that creating a strong cohesive, team oriented culture at work and providing

opportunities for interesting work are important to their workplace

happiness, even more so than their non-Millennial counterparts

PwC

Key findings

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May 2015

4. Many - but not all –stereotypes about

Millennials are untrue 5. Millennial attitudes are not totally universal,

although there is significant commonality between the USA/Canada and Western

Europe

6. While the same basic drivers of retention exist for both Millennials and

non-Millennials, their relative importance varies, with Millennials placing a greater

emphasis on being supported and appreciated

PwC

Retention

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May 2015

Environment and practices

drive the emotional connection

Emotional connection

drives retention

• Thriving

• Commitment to PWC

• Job Satisfaction

Retention

• Balance and workload

• Engaging work, development and

opportunities

• People and teams

• Competitive pay and job opportunities

PwC

What PwC has done

Global turnover rate in the PwC network of firms continues to decline while people engagement around the globe is increasing

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May 2015

PwC

What you can do

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May 2015

1. Create a flexible work culture

2. Fully leverage technology 3. Increase

transparency around compensation

4. Build a sense of community

5. Consider opportunities for Millennials as a contingent workforce

6. Invest time, resources and energy to listen

7. One size does not fit all

Thank you

This publication has been prepared for general guidance on matters of interest only, and does

not constitute professional advice. You should not act upon the information contained in this

publication without obtaining specific professional advice. No representation or warranty

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© 2015 PricewaterhouseCoopers LLP. All rights reserved. In this document, "PwC" refers to

the UK member firm, and may sometimes refer to the PwC network. Each member firm is a

separate legal entity. Please see www.pwc.com/structure for further details.