Millennials: Hired Today, Gone Tomorrow? By Judy Barth Colorado - - PowerPoint PPT Presentation

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Millennials: Hired Today, Gone Tomorrow? By Judy Barth Colorado - - PowerPoint PPT Presentation

Millennials: Hired Today, Gone Tomorrow? By Judy Barth Colorado State University Extension Millennials Who are they? Generation Y Born between approximately 1980 and 2000. 77-80 million in total 56.6 million are currently


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By Judy Barth Colorado State University Extension

Millennials: Hired Today, Gone Tomorrow?

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Millennials – Who are they?

  • Generation Y – Born between approximately 1980

and 2000.

  • 77-80 million in total
  • 56.6 million are currently 18-35 (34% of the current

workforce, 40-50% by 2020)

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Definition of Generations

Kowske et al. (2010) defines a generation as: “Members who are around the same ages upon momentous events in society, such as wars, social movements, and significant technological advances.”

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Millennials – What makes them who they are?

  • Defining Events
  • Economy?
  • Movies/TV?
  • Heroes?
  • A CHANGING WORLD!
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  • https://www.youtube.com/watch?v=bt8cfeB

M4mI

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Millennials – Stereotypes?

  • Digital natives, social media
  • Helicopter Parents
  • Me-Me-Me!
  • Creative, bright, expressive, energetic
  • Intelligent, fast thinking, smart
  • Sense of individuality
  • Fun loving
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Millennials – who are they, really?

  • A WANTED generation:

– They are special, they can make a difference

  • A TARGETED generation (Nickelodeon, MTV,

products). Individuality is important!

  • Developmental model of education vs. direct

instruction aimed at test taking – SHARING.

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Millennial Values

  • Transparency

– Social networks – Branding/Worth – Approachable/ accessible leadership – Making a difference – Authenticity – Experiential/interactive – Loyalty (to people) – Dare to be different, individuality! – Integrated work/life – Fun – Informal but polite – Family & community – Diversity – Collaboration/team work – Support – Tolerance – Achievement oriented – Optimism, hopeful

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Millennials – What they believe

  • Reinvesting in the community
  • Sustainable practices and products
  • 44% believe quality of service is most

important factor in selecting stores/brands

  • 55.2% trust companies with positive on-line

reviews

  • Options!
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Millennials – In the Workforce

  • Trying is better than succeeding
  • 25% of millennials in the work force believe 7

months = loyal employee

  • 45% of employees 25-34 are looking for a new job
  • 59% of those are in their current job < 5years

= a recipe for TURNOVER!

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In the Workforce - continued

  • 58% of millennials are in their current job < 3 years,

average stay is 2-3 years

  • 52% believe corporate loyalty is outdated
  • 61% believe they should be promoted every 2-3

years if they are performing well

  • 91% expect to stay at their job < 3 years
  • 69% believe daily office attendance is not necessary
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What Employers Experience/Believe

  • 30% lose 15% or more of their millennial

workforce each year

  • 45% report 2x higher turnover rate in

millennials compared to older workers

  • 77% of employers expect recent college grads

to stay < 1 year

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How to Recruit Millennials

  • 1. Provide access to high-level information - transparency.
  • 2. Give exposure to clients – direct access to who their work
  • affects. How will they contribute/make a difference?
  • 3. Effectively communicate how their role supports the larger
  • rganizational strategy and success.
  • 4. Provide a work culture where they feel good about where they

work and feel integrated into the organization.

  • 5. Explain how the work and culture is going to benefit them.
  • 6. Describe how the work is effective, fun, and engaging.

Alec Levenson

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A caution….

“Employers who wait to recruit and engage prospective candidates after a job opening comes available are already losing the race….You have to start building relationships qualifying candidates and establishing a connection far before you have an

  • pening. Otherwise, you are late to your own party.”

Jessica Miller-Merrell, chief blogger and founder Of Blogging4Jobs, writing in a recent piece on the TalentCircles website.

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Retaining Millennials

  • Coaching. Raised with constant coaching and feedback. Relationship

with boss is key. Once a year evaluations are not enough!

  • Collaboration. Natural collaborators, particularly when the group’s

purpose and goals are understood.

  • Measures. Raised with a lot of structure and measuring systems.
  • Motivation. They want a work environment that is comfortable,

flexible, family oriented, and which inspires them to contribute without fear of being criticized. Meaningful work! Maximizing Millennials in the Workplace – Brack 2012

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Retaining Millennials

  • Millennials are much less willing to endure unpleasant

conditions on the job.

Goux, 2012. Millennials in the Workplace.

  • Provide cooperative/collaborative work – team building
  • Culture: Upbeat, open, friendly, competitive fun (think Jeff G.)
  • Ask for their ideas, let them share ideas, don‘t condescend
  • Help them understand conflict (they have no experience)
  • Provide opportunities for meaningful contributions
  • Provide self-directed learning opportunities – embrace

technology!

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Retaining Millennials

  • Engagement is KEY! Invest in them.
  • Treat each employee with respect. TY!
  • Provide opportunities to accommodate personal and

family values.

  • Provide an upward growth path – up or out.
  • Keep the doors open for Millennials who leave the
  • rganization .

“We work to have fun and make a difference.”

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Credits

  • Brack, J. (2012). Maximizing Millennials in the Workplace.
  • Brack, J. (2014). Managing Millennials in the Workplace.
  • Goux, D. (2012). Millennials in the Workplace. http://www.Bentley.edu/centers/center-for-

women-and-business/millennials-workplace Survey of 1000 millennials.

  • How Companies Are Managing the Millennial Generation, March 5, 2015, Wharton

University.

  • Human Resource Executive. May, 2015.
  • Kowske, B., Rasch, R., & Wiley, J. (2010). Millennials’ (lack of) attitude problem: An empieical

examination of generational effects on work attitudes.

  • Kuipers, T. (2012) “Generations in our Communities.” University of Wyoming Extension.
  • Levenson, A. (2015). Making Sense of the Millennial Generation: What Organizations Need to

Know.

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  • Marston, C. (2007). Motivating the “What’s in it for me” workforce. Hoboken, NJ: Wiley.
  • Platten, M. (2015). Leveraging Generations in the Workplace. Power Point presentation.
  • Remson, D. (2015). From 18-80: Thriving in the Multi-Generational Workplace. Power Point

presentation.