The Millennial Generation’sImpact on the Workplace

Presented by: Lori Thomas

MBA 592Dr. Edmonds

Wilkes University

Unmotivated

Self-centered

Disrespectful

Spoiled

STEREOTYPES

• No official definition of Millennials exists• Pew Research Center Definition:• Millennials: Born 1981 through 1997• Generation Xers: Born 1965 through 1980• Baby Boomers: Born 1946 through 1964

• US Census Bureau – 75.4 Million Millennials (2015)• Largest Generation in US• Most Racially Diverse Generation – 43% Minorities

Data source: Pew Research Center

Outgoing

Flexible

Eager to Learn

Opinionated

Impatient

Narcissistic

Entitled

Characteristics

Progressive viewpoints

• Stereotype – Millennials have less of a work ethic

• No difference in # of hours worked between Millennials & Gen Xer’s of the same age

• Need to consider level in the organization

• 94% of Companies use social media to recruit.*

• Millennials research companies – what will they find?• 88% of Millennials say they look for an employer whose values match their own.**

• Employers should research candidates too• 42% of recruiters say the reconsidered a candidate based on content viewed in a

social profile.*

Attracting Millennials

Data source: *Jobvite**PriceWaterhouseCoopers

• Pay is important – not only source of satisfaction• Pay as a reward, rather than incentive• 2012: 60% of Companies are taking measures to understand what

different generations want from company benefits*• Millennials value voluntary benefits and support services• Student Loan Aid – gaining popularity

Attracting & Retaining MillennialsCompensation & Benefits

Data source: *Metlife

• Work-Life Balance• High Priority for Millennials• Enabled by Technology• Commitment from Management• Accountability

• Volunteerism & Charity• Programs for Employees to make a difference

• Casual Dress

Attracting & Retaining MillennialsPolicies & Perks

• Friendly relationships with manager• Feedback – Frequent, positive & affirming• Clear direction and structure – avoid uncertainty• Upper Management – transparency• Advancement Opportunities – Sooner rather than later

Attracting & Retaining MillennialsPerformance Management & Development

Millennials Expectations:

CollegialityMillennials in the Workplace

Workplace

Millennials• Desires Work-Life

Balance• Enjoys Teamwork

Generation Xer’s• Likes to Work

Independently• Dislikes Meetings &

Group WorkBaby Boomers• Workaholics• Critical of Coworkers

who don’t share values

Key: Recognize and respect differences. Learn to utilize differences to an advantage

CollegialityMillennials in the Workplace

Opportunities• Team Players• Willing to Learn from Elders• Technologically Advanced• Prefer Highly Structured Organizations – Likely

to align with Co.’s Strategic Goals• Positive Attitude Towards Diversity

Challenges• Desire for Work-Life Balance (work ethic)• Entitlement – Advancement• Disregard for Chain of Command• Reliance on Teams (risk avoidance)• Desire for Consistent Feedback

Suggestions• Take advantage of Multi-Generational Teams• Provide avenues for interaction with Senior Leaders• Mentorship Programs• Assign Independent Projects/Assignments• Educate!

• Union Membership*: 35% Public Sector 6% Private Sector• Future of Unions – Will be dependent on Millennials• Majority of Millennials view unions as positive• Viewpoints become less positive with age• Millennials support principals on which Union’s stand

Millennials in the WorkplaceLabor Unions

Opportunities• Not likely to support defending individuals

disc action or termination• Positive change for Union-Mgmt

relationship• More bargaining power for Employers

Millennials in the WorkplaceLabor Unions

Data source: *Pew

Challenges• Few Millennials join unions

• Positions not available• Attracting Millennials – greater benefits &

wages obtained at the expense of newer members

Suggestions• Encourage Millennial Involvement in Union Leadership• Retirement packages• Negotiate policies/benefits that also appeal to newer members

• Millennials have grown up with advanced technology

• Internet and Cell phones have changed the way people communicate

• 3/4 of Millennials have social media accounts*• Half of Gen Xer’s & less than a third of

Boomers utilize social media

Millennials in the WorkplaceTechnology

Data source: *Council of Economic Advisors

Suggestions• Form Multi-Generational Teams – Encourage Learning• Require fact-checking• Protect the use and placement of company name & products

Millennials in the WorkplaceTechnology

Challenges

• Connected by technology hinders opportunity for regular feedback

• High expectations = disappointment• Lack of validation of information• Social platforms & negative publicity

Opportunities

• Technology enables work-life balance arrangements

• Millennials – great resource for those less tech-savy

• Millennials – great resource for technical improvements

In Summary

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REFERENCES