PowerPoint Presentation

Greg GiangrandeCHRO & EVP, Time Inc. Millennial Myths: They are not unique or the lazy, entitled, spoiled stereotype everyone says they are

VIDEO GOES HERE!

How many of you have discussed the problem of Millennials in your companies?

Body poll Greg interacts with audience

Q1: How many of you have had discussions about the problem of the Millennials in your office?Q2: How many of you have implemented programs or created trainings on dealing with Millennials?Q3: How much money do you think youve invested in these programs?

You should give me 1% of that and keep the rest, Ill fix your Milliennial problem right now. And heres the big secret that no one will tell you: Millennials are no different from the rest of us. 4

We spend millions on Millennial retention programs annually.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment5

Millennial turnover costs companies $30.5 billion annually.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment6

Let me save you some money.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment7

Millennials are a marketing construct.

Millennials are a marketing construct. Possibly constructed by the people who do the United Colors of Benetton commercial.8

Young people havent really changed.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment10

20s

20s(20 B.C.)Cleopatra

Cleo had lots of boyfriends and was super flighty and ambitious. So did Taylor.

In the 20s 20 BC Cleopatra was the worlds first celebrity at 29 with her love/death/power struggle situation (can be compared to Taylor Swift/Kardashians, even though that might offend Greg)

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20s

172 Million

+

Taylor has lots of boyfriends too and is trying to rule over an empire. She has lots of followers. 91.5 million instagram followers Do you know who else has lots of followers? Jesus. Without technology. 13

2.2 Billion

Greg has 2.2 billion followers, and thats without social media. 14

Alexander the Great, 330 BCMark Zuckerberg

15

Marie Antoinette1770Kim Kardashian

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Never have the young been so assertive or so articulate, so well educated or so worldly. Predictably, they are a highly independent breedtheir independence has made them highly unpredictable.

1966

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment17

Were always trying to label the next generation.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment18

Were now on generation Z... Weve officially run out of the alphabet.

What comes next?

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment19

Generation AA the battery generation? Actually theyre being called generation Alpha.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment20

This is a trend forecasting article from september 2015!!!! WHOA.21

2015

By 2535, youll have generation AAA

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment23

By by 2615, youll have generation EEE, the ecstatic generation

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment24

By 2735, youll have generation KKK, which will be unfortunate for them.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment25

By the year 2975 well have generation XXX

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment26

10

It doesnt take a decade for any sort of evolution to change It take a billion years!

*if we use brain specifically we can say 10,000 years, thats the brain number27

1,000,000

It doesnt take a decade for people to change It take an average of a million years! And weve only existed for about 100,000 years.

28

We havent been around that long, and our brains have been almost exactly the same for the past 10,000 years.

Our brains just dont change that quickly it take x amount of years for a part of a brain to develop. MZ to stylize.

http://www.scientificamerican.com/article/how-has-human-brain-evolved/

The point is that evolution takes a million years and we havent changed in 10000.29

DEBUNKED

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment30

So who are they, really?

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment31

Millennials are 83 million strong. Its the largest generation in history.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment32

They are the most diverse generation, with 43% identifying as belonging to a minority group.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment33

20% of Millennials are Hispanic.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment34

65% are employed.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment35

22% have a college degree.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment36

30% live with parents.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment37

66% are single.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment38

20% live below the poverty line.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment39

2% are veterans.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment40

7% are LGBTQ.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment41

15% are foreign-born.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment42

57% are white.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment43

25% speak a language other than English at home.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment44

33% do not have a religious affiliation.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment45

34% are Christians.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment46

1% are Jewish.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment47

2% are Mormons.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment48

The highest growing Millennial population in the US is in San Antonio, Texas.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment49

The next highest is in Riverside-San Bernardino, California.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment50

To believe in Millennial stereotypes is to believe that you can homogenize 83 million people.

By reducing Ms to a stereotype we sanitize whats great about them. The truth is, we need the younger generations to keep us fresh, informed, on our toes.

Actual # is 83.1 million, from 2015 US census report. 51

Myth #1: Millennials need lots of perks.

https://www.cebglobal.com/member/corporate-leadership-council/research/general/14/infographic-understanding-and-managing-the-millennial.html?cid=101257505&utm_campaign=CLC-vjaitly-06.17.2014-M-BW-NL-News-All-All-All-ML-CLC%20Only%20InHouse&utm_medium=email&utm_source=Eloqua52

False! They need what everyone wants and needs a sense of place and purpose.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment53

Teach them The 5 Things.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment54

Company Mission

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment55

Company MissionWhy their business function matters

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment56

Why their role (and THEY) matterCompany MissionWhy their business function matters

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment57

How theyre performingWhy their role (and THEY) matterCompany MissionWhy their business function matters

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment58

OwnYour Career

How theyre performingWhy their role (and THEY) matterCompany MissionWhy their business function matters

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment59

Myth #2: Millennials are hard to engage.

https://www.cebglobal.com/member/corporate-leadership-council/research/general/14/infographic-understanding-and-managing-the-millennial.html?cid=101257505&utm_campaign=CLC-vjaitly-06.17.2014-M-BW-NL-News-All-All-All-ML-CLC%20Only%20InHouse&utm_medium=email&utm_source=Eloqua60

False! All they do is engage.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment61

They even engage with their food.

Mi62

20-somethings have always engaged the tools have just evolved.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment64

NINA LEEN, 1944, TIME/LIFE ARCHIVES65

Johann Gutenberg, 1444

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80s photo of person on phone/ 67

Make sure your learning tools are as easy to use as Instagram or Facebook.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment69

Our online classroom is multiplatform and simple to use.

70

Myth #3: Millennials are hard to retain.

https://www.cebglobal.com/member/corporate-leadership-council/research/general/14/infographic-understanding-and-managing-the-millennial.html?cid=101257505&utm_campaign=CLC-vjaitly-06.17.2014-M-BW-NL-News-All-All-All-ML-CLC%20Only%20InHouse&utm_medium=email&utm_source=Eloqua71

Thats kinda true. But its not new.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment72

Weve always told 20-somethings to explore.

So why are we surprised that they turn over at a higher rate than other employees?18-24 months

73

Relentlessly promote talent mobility.

How do you solve for this? Show them that they have a future at the company by giving them the prospective of multiple careers in their positions. They want to experience-hop, not career-hop. * CEB Is source.

Millennials that have one foot out the door feel neglected. * Deloitte https://www2.deloitte.com/content/dam/Deloitte/global/Documents/About-Deloitte/gx-millenial-survey-2016-exec-summary.pdf

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Time Talent First is our talent philosophy.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment75

Myth #4: Millennials need special attention.

https://www.cebglobal.com/member/corporate-leadership-council/research/general/14/infographic-understanding-and-managing-the-millennial.html?cid=101257505&utm_campaign=CLC-vjaitly-06.17.2014-M-BW-NL-News-All-All-All-ML-CLC%20Only%20InHouse&utm_medium=email&utm_source=Eloqua76

False! They need the same feedback that every employee needs.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment77

They just havent been weaned off constant feedback yet.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment78

Since chilfhood79

SO for 20 years theyve become addicted to it. How can we expect them to quit craving feedback cold turkey?

80

Stop complicating feedback.

Need a better calculation image.

81

And dont make it an officious administrative process.

Stop complicating feedback. Dont make it an officious administrative process.82

Time Inc. Reputation IndexGiving constructive feedbackMotivating direct reportsSetting the culture of your teamLeading effective meetingsLeading with integrity & EQInterviewing & hiring the bestCommunicating goalsExecutive presenceBuilding influence

83

Myth #5: You need to adapt to spoiled, lazy entitled.

https://www.cebglobal.com/member/corporate-leadership-council/research/general/14/infographic-understanding-and-managing-the-millennial.html?cid=101257505&utm_campaign=CLC-vjaitly-06.17.2014-M-BW-NL-News-All-All-All-ML-CLC%20Only%20InHouse&utm_medium=email&utm_source=Eloqua84

Absolutely not. Exorcise out that behavior or exit anyone who exhibits it from the organization.

80s photo of person on phone/ 85

And reinforce the culture you want throughout your organization.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment86

87

Prioritize Mentorship.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment88

How do you solve for this? Show them that they have a future at the company by giving them the prospective of multiple careers in their positions. They want to experience-hop, not career-hop. * CEB Is source.

Millennials that have one foot out the door feel neglected. * Deloitte https://www2.deloitte.com/content/dam/Deloitte/global/Documents/About-Deloitte/gx-millenial-survey-2016-exec-summary.pdf

89

If you manage to a stereotype, you are undermining the value of the group and creating a self-fulfilling prophecy.

The company wrote in the email thatemployeeperks in total have been costing Dropbox at least $25,000 a year for each employee. Based on Dropbox's roughly 1,500 headcount, that would translate to about $38 million a year. At that scale, any kind of cost savings would help improve its bottom line.Dropbox declined to comment90

By reducing Ms to a stereotype we sanitize whats great about them. The truth is, we need the younger generations to keep us fresh, informed, on our toes.

Actual # is 83.1 million, from 2015 US census report. 91