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Modern Performance Management to Attract and Retain Millennials

Jan Sysmans

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How Not To Do It

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Definition of Millennials

Baby Boomer(1946-1964)

Generation X(1965-1979)

Generation YMillennials

(1980-2000)

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Millennials Are 42% of the Global Workforce (age 20-65)

Source: http://populationpyramid.net/world/2015/

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Millennials

• Change jobs on average every 3 years• 39% change jobs to get a better schedule• 36% change jobs because they don’t see immediate career growth• 15% change jobs because of conflict with management• Only 9% change jobs because they were fired

• Have very different job expectations than previous generations• 26% view job flexibility and work from home options as critical• 25% view pay as critical• 21% view location as critical• 18% view career growth as critical

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Tricks for Working with Millennials

Keep accountability consistent and crystal clear

Be willing to meet halfway

Set the quality bar high

Go heavy on the rewards – and the punishments

Over communicate – all the time

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They expect instant gratification and quick feedback

Feedback should not be confrontational; it should allow for constant tweaking of their performance

They want to know they’re doing in all aspects of their career

Engage in meaningful and productive conversations, weekly

Don’t wait until the annual performance review

Millennials Need Constant Feedback At Work

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Ways to Better Manage Millennials

Make work challenging for them

Put them in teams

Provide work/life balance

Establish a reverse mentoring relationship

Give them constant feedback

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Keys to Inspiring Millennials at Work

Use digital and visually appealing technology for your performance review process

Motivate with incentives

Link to concrete goals, Mix short and long term goals

Direction through constant guidance

Frequent, specific and transparent feedback

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A Millennial's Perspective on Performance Reviews

Don’t wait until review time to give us feedback, continuous feedback makes it easier at review time

Positive reinforcement is a good thing

Create some accountability, foster some collaborative effort, and we’ll rock your socks off

We appreciate honesty, even if that means tough love

Make the most of the review, show us how we’re contributing to something bigger than ourselves

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ACCOUNTABILITY, HONESTY AND

TRANSPARENCY PAY OFF

Recurring Themes In This Research

WORK / LIFE BALANCE

INSTANT FEEDBACK AND CONSTANT

REINFORCEMENT

USE ENGAGING, MODERN

TECHNOGLOGY

FLEXIBLE, CONCRETE AND

SHORT TERM GOALS

MOTIVATE WITH INCENTIVES

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How Can You Engage Your Millennials?

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By Deploying an Intelligent Performance Solution

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Performance@Work

Performancereviews

Impressions & Badges

Intelligent coaching & development

Goals & objectives

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Learning@Work

Social and mobile

Virtual classroom

Evaluations &assessments

Extendedenterprise

Certification &compliance

Intelligentrecommendations

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Instant Feedback and Consistent Reinforcement

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Use Engaging, Modern Technology

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Flexible, Concrete and Short Term Goals

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Honesty, Accountability and Transparency

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Motivate with Incentives

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How Millennial Are You - Take the Quiz….

http://www.pewresearch.org/quiz/how-millennial-are-you/

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Saba – Find the leader inside

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Thank You

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