Mobility for Millennials: How Best to Service the New Majority

Dave MarronNuCompass Mobility

Brynne Herbert (MOVE Guides) Kari Boardman (eBay)Michael Krasman (UrbanBound)

The Times They Are a-Changin

“ Out with the old. In with the new.Goodbye ‘80s. Hello future. It’s time to reprogram your brain and learn what

the new RadioShack is all about. ”

Real Estate

Banking

Travel

Evolution

Real Estate

Banking

Travel

Through the Years“The Greatest Generation” (Before 1928)

Generation that fought and won WWII

“The Silent Generation” (1928-1945)Conformist and civic instincts

“The Baby Boomer Generation” (1946-1964)Spike in fertility after WWII

“Generation X” (1965-1980)Baby Bust = post-WWII baby boom

“The Millennial Generation” (After 1980)First generation to come of age in new millennium

Meet the Millennials• Largest cohort since Baby Boomers

• 50% of the US workforce by 2020

• 75% of the global workforce by 2025

Profile

Age 25

No Kids

Renters

Use Social Networks

Value Flexibility

Tech-Savvy

Values

• 80% expect to live and work abroad

• 60% would take an international assignment for career development

• 84% want to arrange services on their own

“Gen X is tech-savvy, while Gen Y is tech-dependent.”

90% of Millennials check their email, texts, and social networks before they get out of bed

Technology Gap

Millennials manage information differently

• Grew up with the internet• Desire instant gratification• Text/email – not phone• Less concerned with privacy – live life in public• Want clear visibility• Desire structure• Cross-platform access

Relocation Technology

Education

• Destination information curated for employee• Teaches about relocation process• Creates excitement

(e.g. housing; neighborhood; schools; transportation)

Relocation Technology

Managing the Relocation

• Allows employee to move at own pace• 24/7 support online• Centralized location for data and decisions• Communication hub for all parties• Provides supplier network with instant access

Relocation Technology

Policy and Budget

• Distribute lump sum• Manage personal relocation budget• Handle employer-covered categories• Track and report on progress• Assistance with understanding tax implications

Assignee Profile

• Age

• Marital Status

• Position in Company

• Benefits Package

• Preferences

• Outlook on Opportunity

Mobility Manager Profile

• Age

• Background

• Experience

• Time Devoted to Relocation

Future of Relocation:Five Years Out