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Understanding the generation

Millennials: Understanding the Generation

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Page 1: Millennials: Understanding the Generation

Understanding the generation

Page 2: Millennials: Understanding the Generation

MIL·LEN·NI·ALS (n.)

18 to 34 years-young otherwise known as

Gen Y [   [  

Page 3: Millennials: Understanding the Generation

They can be a difficult group to understand.

What do they want? What do they value? What do they need?

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You can stop guessing.

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Let’s put the

power in your hands

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We’ll give you strategies to attract Millennials andincrease productivity

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Millennials have different preferences than their Baby-Boomer predecessors

They want more social interaction and team collaboration in the workplace

They’re motivated more by cause marketing and less by monetary reward

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they’re who your company needs to survive and grow

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So, here are

5 things you should probably understand

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Millennials seek peer affirmation and

feedback (a lot of it!)

1.

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THINK TWITTER-SIZE PIECES OF ADVICE:

Millennials want small bits of feedback at a time, so

even a 1-2 sentence email is enough sometimes.

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They also gravitate towards

mentorships

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35% of employees who don’t receive regular mentoring plan to look for another

job within 12 months

Source: http://www.urbanbound.com/blog/a-little-guidance-goes-a-long-way-why-you-need-to-implement-mentoring-programs

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The mentorship can work both ways, too!

Let your Millennials teach your Baby-Boomers a thing or two - some companies even implement reverse mentoring, in which a new employee teaches a senior employee a helpful skill. Through this reverse exchange, new employees gain valuable relationships with upper management - relationships they know they can depend on in the future if they ever need further guidance.

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Millennials also rely heavily on review sites (47% of Glassdoor visitors are in the 18-34 age range.)

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trust user-generatedcontent reviews

(compared to only 34% of Baby-Boomers)

Source: http://go4greater.org/wp-content/uploads/2014/03/img-3.png

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Make sure that you encourage employees to write (hopefully positive!)

reviews and maintain a strong online presence

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Millennials aren’t alllll about the money 2.

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Millennials Want to be

creative

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83% of Millennials want a job where creativity

is valued

Source: http://business.time.com/2012/03/29/millennials-vs-baby-boomers-who-would-you-rather-hire

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They want

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40% think they should be promoted every 2 years,

regardless of performance

Source: http://www.urbanbound.com/blog/infographic-the-data-behind-generation-y

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They want a little something

more

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92% believe success should be measured by morethan just profit

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They want to feel like they are making a difference, both

in the business and also

in the world

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So let Millennials make an

impact  

(72% of them say it’s important)  

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This can be as easy as:

Providing volunteer opportunities

Encouraging them to mentor others

Letting them teach interns

Giving them a growth plan

Embracing community activities

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Remember:

Do good Give back Sponsor

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As long as you make your mission clear and

, your Millennials will be happy!

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Give Millennials the full package3.

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Even though Millennials value more

than monetary incentives, they still want a competitive

benefits package with unique offerings

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They value not only the basic benefits

like medical insurance or a 401K, but also benefits that add to a

well-balanced life (benefits you can achieve for a relatively low cost)

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workplace flexibility

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unnecessary

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Don’t forget about travel!

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work abroad

Source: http://www.businessinsider.com/millennials-moving-abroad-for-jobs-2014-10

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Which makes them the perfect candidate for…you guessed it… relocation!

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Remember to provide for their future, too

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Companies offering paid parental leave

dropped 5% in 2014, which could be a

make-or-break benefit for Millennials, as they will soon be entering

parenthood

Source: http://www.wmmsurveys.com/2014-100-Best-Executive-Summary.pdf

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Get comfy: Millennials like to work in a warm

and collaborative environment

4.

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79% of Millennials think jeans should be allowed (at least sometimes) at work

Source: http://www.forbes.com/sites/tykiisel/2012/05/16/gimme-gimme-gimme-millennials-in-the-workplace/

Page 42: Millennials: Understanding the Generation

Source: http://seattlebusinessmag.com/business-corners/workplace/creative-spaces-your-millennial-staff

88% said they want to work in a more social environment where their co-workers are their friends

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Healthy snacks and a stocked fridge can go a long way with Millennials

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A comfortable work environmentcan lead to

comfortable collaboration

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collaborate

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Pay attention to how each generation works the best,

and find a middle ground

that works for everyone

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Give Millennials a creative outlet, and they’ll give you productivity

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Millennials are very driven by technology

5.

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Technology and Millennials are

practically a

match made in heaven

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59% say state-of-the-art technology is a key factor

in picking a job

Source: http://www.pwc.com/en_M1/m1/services/consulting/documents/millennials-at-work.pdf

Page 51: Millennials: Understanding the Generation

Millennials need less

face-to-face communication

than your Boomers

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compromise

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Introduce everyone to video platforms and other technology used to facilitate communication

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Hold in-person meetings on a more frequent basis to make them feel more collaborative and less formal

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in the loop

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Millennials have different motivations – they want to grow, to make an impact, to be social, and to make a real difference.

They want consistent feedback and a strong mentorship program

They look for a strong benefits package that incorporates a comfortable and flexible work environment

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One thing we know for sure though, is whether

young or old…

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Motivated Confident

NEEDED

Page 59: Millennials: Understanding the Generation