How the Millennial Generation is Changing the Workplace Jeff - - PowerPoint PPT Presentation

How the Millennial Generation is Changing the Workplace

Jeff Stokes- Ringleader

Owner/President

Next Level Contractor LLC

Rocky Geans

President & Owner

LL Geans Construction

Matt Slawson

Vice President

Next Level Contractor LLC

Kristy Wolfe

Assistant Professor

Bradley University

Learning Objectives:

• 1. Identify the core difference in work habits and values of each generation.
• 2. Discuss how to effectively lead and manage millennials.
• 3. Examine how to keep millennials engaged (and retain them).
• 4. Access a company’s readiness to embrace and integrate millennials.

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Five Generations in the Workplace

• Born 1926 – 1946 : Silent Generation / Traditionalists
• Born 1946 – 1965 : Baby Boomers
• Born 1966 – 1980 : Generation X
• Born 1980 – 1995 : Millennials / Gen Y
• Born 1995 – 2010 : Gen Z

Generations by the Numbers

Generations by the Numbers

It is projected that in 2019 Millennials will pass Boomers as the largest living generation in the US at 73 million. The overall US population continues to grow older. In 2030, 1 in 5 US residents will be retirement age (65).

Baby Boomer 1946 – 1965

• Hard to connect with their parents because they were viewed as

“lucky”

• Vietnam and Cold War
• Assassinations of JFK, Robert Kennedy, and MLK Jr.
• The Civil Rights Movement
• The Space Race
• Beginning of consumerism

Influences:

Baby Boomer 1946 – 1965

• Less optimistic and more distrusting of the government than their

parents

• Strive for financial security
• Individualism and experimentation
• Pursuing the American Dream
• Challenge authority
• Equal rights. “Protest Generation”

Values:

Baby Boomer 1946 – 1965

• Value hard work (much like Silent), but for establishing identity and

fulfillment

• Work Ethic = Worth Ethic
• More loyal to the team than the company
• Values collaboration, but wants respect from younger generations
• Ambitious and driven towards retirement

Work Values:

Will work hard for personal gain

Motivation:

Baby Boomer 1946 – 1965

Television was the emerging technology during this time. This influenced boomers significantly by how they received information. It also pushed consumerism in society to greater heights.

Technology:

Generation X 1966 – 1980

• Fall of Berlin Wall and end of communism
• End of Vietnam and Cold War
• AIDS
• Reagonomics
• Experienced more divorces than any other generation
• 1st Gulf War

Influences:

Generation X 1966 – 1980

• Independent and self-reliant
• Comfortable with feedback
• Mistrusts institutions and rejects rules
• Education
• Skeptical and pragmatic
• Suspicious of Boomer values

Values:

Generation X 1966 – 1980

• Less focused on advancement, more focused on work-life balance
• Value open communication and transparency
• Outcome oriented
• Prefer casual / friendly environment
• Invest loyalty in a person, not a company

Work Values:

Freedom

Motivation:

Generation X 1966 – 1980

This generation saw the rise of the personal computer. They were the first generation to develop ease and comfort with technology.

Technology:

Millennial 1980 – 1995

• Columbine shootings
• 9/11 attacks and terrorism
• Death of Diana and OJ trial
• High levels of student debt
• Helicopter parents
• Dramatic increase in media

Influences:

Millennial 1980 – 1995

• Emphasis on education
• Entrepreneurial
• Instant gratification, impatient, short attention span
• Diversity, much more culturally and racially tolerant
• Achievement oriented
• Consumerism

Values:

• Community service is important

Millennial 1980 – 1995

• Seeks out mentorship and coaching
• Desires strong leadership
• Wants instant feedback and a positive environment
• Values performance over process
• Always learning

Work Values:

Connect work to personal and career goals

Motivation:

• Avoids intense pressure
• Strong multi-taskers

Millennial 1980 – 1995

This generation saw the rise of the internet. This has transformed the way they work and communicate. Globalization was also greater than ever before due to the rise of this technology.

Technology:

Generation Z - Born 1995 - 2010

Also, known as the iGen, they are the first generation to be ‘connected’ since birth. They do not know a world without the internet and smart

• phones. This is a growing generation that is quickly increasing in the

workforce.

Embrace Millennial Issues:

• Recruitment
• Hiring
• Onboarding
• Training & Engagement
• Retention

Recruitment/Hiring

Where do we find millennials to hire?

• Referrals
• Social media
• Job shadow programs
• Job fairs (colleges/junior colleges)
• Trade shows
• School recruiting

Recruitment/Hiring

What do they want in the recruiting process?

• Personalized experience (drink choice)
• Team interviews
• Ask behavioral questions to better match core values of

individual and company

• Find out what the candidate cares about
• Talk benefits not pay

Recruitment/Hiring

What are they looking for in their career?

• Flexibility
• Community-oriented activities
• Utilize knowledge of technology
• To be provided training

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On-Boarding and Training

• Hiring a millennial is only one-third the channel, don’t lose

them right out of the gate

• Ensure you are ready for them and provide a strong on-

boarding and on-going training program

• Remember the collaborative perspective so many take,

everything is integrated not individualized

Organizational Retention

Three Keys to Retaining Millennials

• Strong Leadership
• Engaging Environment
• Real-time Feedback

Leadership & Training

Organizational Retention

Performance Management

Don’t tolerate poor performance.

This is one of the quickest ways to increase frustration and motivate millennials to leave.

Define Role & Responsibilities Set Standards & Expectations Provide Tools & Resources Provide Job Training Tie Rewards to Performance Review Performance Give Feedback and Coach Peak Performance Verify Capacity

PERFORMANCE PYRAMID

Organizational Retention

Mentoring / Reverse Mentoring Definition of mentor = a trusted counselor or guide Keys to Successful Mentorships

• Built on a relationship of trust
• Define roles and responsibilities
• Clearly defined goals
• Collaborative problem solving

Mentoring & Leadership

• https://www2.deloitte.com/content/dam/Deloitte/global/Documents/About-Deloitte/gx-millenial-survey-2016-exec-summary.pdf

63%

… of millennials say their leadership skills are not being fully developed.

68% 32%

Those intending to stay for more than 5 years are twice as likely to have a mentor.

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Compromise Collaboration

Thanks for your time.

Jeff Stokes – Moderator Rocky Geans

President & Owner

LL Geans Construction

Matt Slawson

Vice President

Next Level Contractor

Kristy Wolfe

Assistant Professor

Bradley University

Appendix

Rise of Generation Z

Organizational Retention

What a Good Leader Looks Like

• Listens and learns
• Emotional Intelligence (EQ)
• Accessible
• Determined and focused
• Effective communicator
• Resilient
• Servant Leader
• Hands-off delegator
• Integrity
• Power or Humility

Leadership & Training

Seek to Understand Synapses-How are you hard wired? How are your co-workers hard wired? How does this affect leading, coaching, leading your company, your team, your co- workers? Reasonable people can have different perspectives, and that creates conflict. We all come at a challenge with different filters due to how we are wired. Neuro-regeneration refers to the regrowth of or repair

• f nervous tissues, cells

http://www.human-memory.net/brain_neurons.html

Leadership

• Your attitude sets the tone in so many situations. It's

your responsibility, your duty, to be in excellent shape; mentally, physically, spiritually. Who you are is so critical to how other's will feed off of you.

• Look for OFI's in your co-workers, "Opportunities for

Improvements", not "problems", "mistakes", "weaknesses".

• If you have constructive criticism talk to your co-worker

asap, get it done and move on.

• I challenge everyone here today that if the culture in

your company isn't on of Positive Encouragement, Teaching, Support and so on, that you be the ignitor of that change in you and your company.

Does your company have a healthy culture to attract millennials?

q Turnover is low q Leaders are encouraging other leaders to succeed q Gossip isn’t tolerated q The team understands the mission and the vision q Communication is frequent, respectful, and straightforward q Change isn’t avoided, but welcomed q Leaders look to coach, not to blame q The company isn’t siloed, but various departments interact q There is an emphasis on cross-training q You gather feedback from your team and act on it q Collaboration is encouraged