THEMILLENNIAL SHIFT

2015 WORKPLACE TREND REPORTBY BOLSTER

CONTENTSThe Millennial Shift . . . . . . . . . . . . . . . . . . . . . .3

A New Workforce Rising . . . . . . . . . . . . . . . . . . . . . . . . . . 3

The Waning Reign of Baby Boomers & Gen X . . . . . . . . . . . . . . . . . .4

Millennials in the Driver’s Seat . . . . . . . . . . . .5

CSR Drives Millennials in the Workplace . . . . . . . . . . . . . .6

Purpose > Paycheck . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

Inspire Giving & Attract Talent . . . . . . . . . . . . . . . . . . . . . 9

Authenticity + Transparency Are Paramount . . . . . . . . . . . . . . . . . . . . . . . . 11

Purpose & Values Must Be Embedded . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11

A Skeptical Generation . . . . . . . . . . . . . . . . . . . . . . . . . .12

Insight to Action: Engaging the Leaders of Tomorrow . . . . . 13

Define Purpose, Values & Impact Goals . . . . . . . . . . . .13

Tell Authentic Stories that Bring CSR to Life . . . . . .13

Empower Them to Connect & Share . . . . . . . . . . . . . .14

Invite Participation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14

The Shift in Action: Case Studies . . . . . . . 15Pay It Forward Pizza . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15

Morgan Stanley / Healthy Cities . . . . . . . . . . . . . . . . . .15

Appendix . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15

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THE MILLENNIAL SHIFTA New Workforce RisingThe first quarter of 2015 marked a major shift for the American workforce as Millennials overtook the short reign of Generation X . With that shift in population came a noticeable shift in values and priorities . Gone are the days when money and job position were the top motivators . As this new generation of Millennials moves in, they expect more from a job; they want a clearly articulated purpose and they crave a more meaningful work-life experience . This socially conscious generation embraces diversity, seeks out sustainable and environmentally friendly products, and wants companies to be actively engaged in a cause . Corporate Social Responsibility is a must as they consider employers, and in this ultra-transparent world, Millennials are hyper-aware of what companies are doing behind the scenes . Optimistic about the future, this generation believes industry can not only keep our economy healthy, but it can also be a critical tool to help strengthen communities .

As these values continue to shift in the workforce, corporations must reflect upon and renew their purpose and values in order to clearly articulate what they stand for beyond a fiscal return for shareholders .

Millennial overview infographic

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In 2012, the Gen X labor force (52 .9 million) overtook the Boomer labor force to become the largest generation in the American workplace . But as a record number of Boomers retired in 2014,10 Millennials stepped in to fill their void, ultimately overtaking both in numbers . Like Gen X-ers, Millennials and Boomers have vastly different strengths and work expectations . Boomers built their careers within corporate hierarchy, among professional peers with a more individualistic view of work . They are characterized by their independent, hardworking, goal-oriented and work-centric ethos . Millennials, however, place greater value on teamwork, work-life balance, a flat organization structure and finding a role where they know they are making a difference within a purpose-driven organization .

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BABY BOOMERS GEN X MILLENNIALS

Source: Pew Research Center

THE WANING REIGN OF BABY BOOMERS & GEN X

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MILLENNIALS IN THE DRIVER’S SEAT2015 marks a big year for Millennials . Today, more than one in three American workers are part of the Millennial generation . They’ve grown up in a time of technological change, globalization, economic disruption and global climate-change concern . These events have shaped their values, and they want to put those values to work to make a difference . They are actively seeking employers that are giving back to a cause and are offering employees a greater sense of purpose in their career . According to a 2013 Social Impact Study,11 when corporations support environmental or social issues, Millennials respond with increased trust (91%) and loyalty (89%) .

Now standing 77 million strong,12 Millennials are shaping a new way to do business .

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CSR DRIVES MILLENNIALS IN THE WORKPLACE Seven in 10 Millennials consider themselves social activists .13 They care about where their food comes from, reducing the carbon footprint, if their soda cup is biodegradable, and what their employer is doing to help make a difference . Millennials give the most money to charity than any other generation .14 But for this new generation, it is much more than writing a check; it is being actively involved in a cause . Seventy-six percent of Millennials want a greater voice in driving societal change in the workplace .15 Their socially conscious mindset and eagerness to be actively engaged in a cause directly affects how they view their job . “We are seeing much more of this work-life blending model where Millennials are blending who they are, what they do, what they stand for, and the causes and things they care about into the workplace . They are bringing their personal values and cause interests into the companies they work for .” (Derrick Feldmann, President of Achieve)

The World Business Council For Sustainable Development defines CSR (Corporate Social Responsibility) as “the continuing commitment by business to contribute to economic development while improving the quality of life of the workforce and their families as well as of the community and society at large .” Previous generations saw CSR as a side note in a company’s culture—but not Millennials . For them, CSR is not a box to be checked or a quick blurb in a company’s mission statement, but a critical consideration in both purchasing and employment decisions . Over half of Millennials are attracted to employers because of their Corporate Social Responsibility position, and Fifty-six percent would even consider leaving an employer that did not have the values they expected .16

“ We are seeing much more of this work-life blending model where Millennials are blending who they are, what they do, what they stand for, and the causes and things they care about into the workplace.”—Derrick Feldmann, President of Achieve

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Sustainable product infographic

Charity/volunteer infographic and

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consider themselves social activists.¹⁸70%

donate to charities.¹⁹63%

volunteer for community organizations.²⁰43%

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want to drive societal change in the workplace.²³76%

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SOCIAL RESPONSIBILITYMany characteristics make the Millennial generation unique, but their socially conscious mindset is one of the most impactful. Millennials have high expectations for companies’ corporate social responsibility efforts. They have grown up surrounded by cause marketing and expect their employer to have CSR efforts as a top priority.

CONNECTEDThis generation is the most connected in history. For most, social media has always been part of their lives, and Millennials often share their thoughts and beliefs for the entire world to see.

ACTIVISMSeven in 10 Millennials consider themselves social activists and are looking for ways to drive change in both their personal and work lives. Unlike their parents, Millennials are bringing their values into the workplace and are looking for companies that share the same mindset.

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Purpose > PaycheckWhile previous generations may have been defined primarily by their job title and salary, Millennials are more interested in leading a balanced life and being part of something bigger than themselves . Six in 10 Millennials say part of the reason they chose to work for their current employer is a “sense of purpose .” Providing this new generation of workers a way to be involved in something more meaningful greatly increases employee satisfaction . Forty-six percent of Millennials who both have and want the opportunity to make a difference at work are very satisfied with their jobs . For those who don’t have that opportunity but want it, just eighteen percent report being very satisfied with their jobs . 29

ALL OTHER THINGS BEING EQUAL, 35% OF MILLENNIALS WOULD TAKE A....

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TO WORK FOR AN ORGANIZATION THAT:SHARES THEIR SAME VALUES

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TO WORK FOR AN ORGANIZATION THAT:IS COMMITTED TO CORPORATE SOCIALRESPONSIBILITY

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Though salary is still important to Millennials, it is no longer the top motivator in the job market . Many Millennials would take a pay cut to work for a company that provides a sense of purpose . All other things being equal, 35 percent of Millennials would take a 15 percent pay cut to work for a company committed to CSR, 45 percent for a job that makes a social or environmental impact and 58 percent to work for an organization with the same values as their own . 30

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Inspire Giving & Attract Talent A 2014 Millennial Impact Report by Achieve found that about a third of respondents said that their companies’ volunteer policies affected their decision to apply for a job, 39 percent said that it influenced their decision to interview, and 55 percent said that such policies played into their decision to accept an offer . Millennials want to be actively engaged in their employer’s community giving practices . This active participation has been proven to decrease high turnover in the Millennial generation . Currently, over a quarter of Millennials expect to have six employers or more, and 26 percent expect to stay in a job a year or less before looking for a new position .31 Millennials’ high turnover rate is a serious cost for employers, but encouraging them to become involved in CSR projects and company volunteerism can help reduce those numbers . Nearly two-thirds of Millennials say being part of their company’s contributions to society make them loyal .32

“ Cause work gives more meaning to the job than just a paycheck. Life isn’t about the money you make, it’s about what you do with your life to impact others.”–2014 Millennial Impact Report

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Purpose & Values Must Be Embedded In our increasingly ultra-transparent world, nothing is secret . As the inter-workings of corporations are exposed online, authenticity has never been more vital . Social responsibility is not something that can rise and fall as a priority . Companies must be prepared to refresh and renew their commitment to core values and find ways to make a difference that delivers on those values . This resulting sense of purpose must become embedded into corporate culture for Millennials to give their loyalty .

AUTHENTICITY + TRANSPARENCY ARE PARAMOUNT

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A Skeptical Generation Unlike previous generations, Millennials will take the time to dig beneath the surface to uncover the behind-the-scenes workings of a potential employer . Thirty-nine percent of Millennials researched their company’s cause work prior to their interview . Millennials are also more willing than the general population to dig deeper into operations and commitments . Thirty-six percent have researched a company’s business practices compared to 29 percent of the general population .34 With a world of information at our fingertips, social media and technology have allowed for wrongdoings and violations within a company to be quickly discovered and shared . Referred to as digital natives, 61 percent of Millennials follow a brand on social media, and 34 percent use social media to share positive information about companies and issues they care about with people in their networks . Over a quarter take to social media to share negative information about companies they feel aren’t living up to their promises .35 “To really resonate with Millennials,” says cultural analyst Claudia Bhugra-Schmid, “you have to truly mean what you say and believe in what you do . Millennials use social media as their voice . In such a hyper-connected world, negative media spreads like wildfire .”

infographic

“ To really resonate with Millennials, you have to truly mean what you say and believe in what you do.”– Claudia Bhugra-Schmid,

Cultural Analyst

19%31%40%

BABY

BOOMERSGEN X

MILLENNIALS

BELIEVE THAT PEOPLE CAN BE TRUSTED:

MILLENNIALS ARE LESS TRUSTINGMillennials are significantly less trusting than previous generations . They are disappointed in the people in power and feel they are being forgotten .

Source: Pew Research Center

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Define Purpose, Values & Impact Goals Before any organization can engage a new generation around a value-driven culture of purpose, that organization must survey where it currently stands (both from the brand’s perspective and from a consumer’s perspective) and develop a strategic plan to achieve its CSR & community-impact goals .

Tell Authentic Stories That Bring CSR to Life With purpose, values and impact goals in place, organizations can begin to collect and share stories that bring this important work and core values to light . In sharing the stories of community impact on behalf of the organization, we must be careful not to self-promote, but to champion the causes and communities this work serves . If it feels insincere, Millennials will disregard it outright . Try to let those in the community your programs serve tell their stories in their own voice —an honest and authentic story will go much further than something told from the brand’s point of view .

INSIGHT TO ACTION: ENGAGING THE LEADERS OF TOMORROW

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Empower Them to Connect & Share Create content that’s honest, compelling and highly shareable . Infographics, single-page scrolling sites and documentary-style video content are all highly shareable when executed in a thoughtful, dynamic and authentic manner . Utilize all social platforms available to get this shareable content into the digital hands of your advocates . Staying connected and sharing compelling content is second nature to Millennials and if the content furthers the values they hold dear—you can bet they will become a digital (and even word-of-mouth) advocate on your organization’s behalf .

Invite Participation Creating content isn’t the end of the process but should rather mark the beginning of a new dialogue around your cause & CSR efforts . Once you’ve revealed what you stand for through the stories of those you serve, you’ll find exciting new partnerships and ideas emerge as this content is shared across different networks and platforms . Continue to invite participation by asking your employees and supporters to submit ideas for ways your organization can support causes that you are uniquely positioned to make an impact on .

Engaging Millennials in this way will not only make you a more attractive employer, but it will create ambassadors for your brand, both internally and externally, as this hyperaware generation shares the good work you are doing with their network of socially conscious, highly connected peers .

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Appendix1 . “Millennials: Breaking the Myths .” Reports . Nielsen, 27 Jan . 2014 . http://www .nielsen .com/us/en/

insights/reports/2014/millennials-breaking-the-myths .html2 . “So How Many Millennials Are There in the US, Anyway?” MarketingCharts . 28 Apr . 2015 . http://

www .marketingcharts .com/traditional/so-how-many-millennials-are-there-in-the-us-anyway-30401/

3 . Elmore, Tim . “Six Millennial Statistics Every Adult Should Know .” Growing Leaders . 2 Oct . 2014 . http://growingleaders .com/blog/six-millennial-statistics-every-adult-know/

4 . Lipka, Michael . “Millennials Increasingly Are Driving Growth of ‘nones .’” Pew Research Center . 12 May 2015 . http://www .pewresearch .org/fact-tank/2015/05/12/millennials-increasingly-are-driving-growth-of-nones/

5 . “Millennials in Adulthood .” Pew Research Centers Social Demographic Trends Project RSS . Pew Research Centers, 6 Mar . 2014 . http://www .pewsocialtrends .org/2014/03/07/millennials-in-adulthood/

6 . US Census Bureau per http://www .census .gov/7 . US Census Bureau per http://www .census .gov/8 . “Millennial Entrepreneurs Are Having A Hard Time Getting Started .” Generation Progress . 17 Feb .

2015 . http://genprogress .org/voices/2015/02/17/34782/millennial-entrepreneurs-are-having-a-hard-time-getting-started/

9 . “Millennials in Adulthood .” Pew Research Centers Social Demographic Trends Project RSS . Pew Research Centers, 6 Mar . 2014 . http://www .pewsocialtrends .org/2014/03/07/millennials-in-adulthood/

10 . “This Year, Millennials Will Overtake Baby Boomers .” Pew Research Center RSS . 16 Jan . 2015 . http://www .pewresearch .org/fact-tank/2015/01/16/this-year-millennials-will-overtake-baby-boomers/

11 . “2013 Cone Communications Social Impact Study .” Cone Communications . 12 . “Millennials: Breaking the Myths .” Reports . Nielsen, 27 Jan . 2014 . http://www .nielsen .com/us/en/

insights/reports/2014/millennials-breaking-the-myths .html13 . “[Infographic] The Future of Social Activism .” Philanthropy News Digest . 21 Sept . 2013 . http://

pndblog .typepad .com/pndblog/2013/09/infographic-the-future-of-social-activism .html14 . “Doing Well By Doing Good .” Reports . Nielsen, 17 June 2014 . http://www .nielsen .com/us/en/

insights/reports/2014/doing-well-by-doing-good .html15 . “The Future of Business Citizenship .” MSLGROUP . 2014 . http://mslgroup .com/insights/2014/

the-future-of-business-citizenship .aspx16 . “Millennials at Work, Reshaping the Workplace .” PricewaterhouseCoopers . https://www .pwc .com/

en_M1/m1/services/consulting/documents/millennials-at-work .pdf17 . “Investing in the Future: Millennials Are Willing To Pay Extra For a Good Cause .” Newswire . Nielsen,

23 June 2014 . http://www .nielsen .com/us/en/insights/news/2014/investing-in-the-future-millennials-are-willing-to-pay-extra-for-a-good-cause .html

18 . “Corporate Social Responsibility Is Millennials’ New Religion .” Crain’s Chicago Business . 1 Mar . 2014 . http://www .chicagobusiness .com/article/20140325/OPINION/140329895/corporate-social-responsibility-is-millennials-new-religion

19 . “Inspiring the Next Generation Workforce .” The Millennial Impact . 2014 . http://cdn .trustedpartner .com/docs/library/AchieveMCON2013/MIR_2014_ExecSummary .pdf

20 . Beaudoin, Scott . “Your Corporate & Brand Reputation Is Now in the Hands of Millennials .” Critical Conversations RSS . MSL Group, 9 June 2014 . http://blog .mslgroup .com/your-corporate-brand-reputation-is-now-in-the-hands-of-millennials/

21 . Beaudoin, Scott . “Your Corporate & Brand Reputation Is Now in the Hands of Millennials .” Critical Conversations RSS . MSL Group, 9 June 2014 . http://blog .mslgroup .com/your-corporate-brand-reputation-is-now-in-the-hands-of-millennials/

22 . “The Next Generation of American Giving – Blackbaud .” Blackbaud . 2013 . https://www .blackbaud .com/nonprofit-resources/generational-giving-report-infographic

23 . “The Future of Business Citizenship .” People’s Insights . MSL Group, 1 Feb . 2014 . https://futurespark .files .wordpress .com/2015/02/the-future-of-business-citizenship-people-s-insights-magazine .pdf

24 . “Millennials at Work Reshaping the Workplace .” PricewaterhouseCoopers . 2012 . http://www .pwc .com/gx/en/managing-tomorrows-people/future-of-work/assets/reshaping-the-workplace .pdf

25 . “Mobile Millennials: Over 85% of Generation Y Owns Smartphones .” Newswire . Nielsen, 5 Sept . 2014 . http://www .nielsen .com/us/en/insights/news/2014/mobile-millennials-over-85-percent-of-generation-y-owns-smartphones .html

26 . “Social Networking Fact Sheet .” Pew Research Center . http://www .pewinternet .org/fact-sheets/social-networking-fact-sheet/

27 . Stambor, Zak . “Millennials Connect to Businesses on Social Networks .” Internet Retailer . 4 June 2014 . https://www .internetretailer .com/2014/06/04/millennials-connect-businesses-social-networks

28 . “Millennials Check Their Phones 43 Times a Day . This Is What They’re Looking For . (Infographic) .” Entrepreneur . 4 June 2014 . http://www .entrepreneur .com/article/234531

29 . Heldrich, John . “Talent Report: What Workers Want in 2012 .” Net Impact . 1 May 2012 . <https://netimpact .org/sites/default/files/documents/what-workers-want-2012 .pdf>

30 . Heldrich, John . “Talent Report: What Workers Want in 2012 .” Net Impact . 1 May 2012 . <https://netimpact .org/sites/default/files/documents/what-workers-want-2012 .pdf>

31 . “Millennials at Work, Reshaping the Workplace .” PricewaterhouseCoopers . https://www .pwc .com/en_M1/m1/services/consulting/documents/millennials-at-work .pdf

32 . “The Millennial Generation: Pro-Social and Empowered to Change the World .” Greenbook . http://www .greenbook .org/marketing-research/millennial-cause-study

33 . Adams, Susan . “The 25 Companies Where Top Millennials Most Want To Work In 2015 .” Forbes . Forbes Magazine .

34 . “Perceptions, Millennials and CSR: How to Engage the New Leaders of Tomorrow .” Research and Insights . Cone Inc .

35 . “Perceptions, Millennials and CSR: How to Engage the New Leaders of Tomorrow .” Research and Insights . Cone Inc .

Pay It Forward PizzaMason Wartman of Rosa’s Fresh pizza is the embodiment of a Millennial who became disenfranchised when he felt his employer wasn’t making a positive impact and left to begin his own business with social activism at its core . View Mason’s story in the short film Bolster created for NationSwell .

Morgan Stanley / Healthy Cities Many corporations already have or are beginning to develop impactful CSR programs . But when these efforts go undocumented or unshared, they lack the impact of attracting Millennial talent and consumers . With a strong program in place, the challenge becomes documenting the impact of that work in an emotionally compelling and highly shareable manner . Bolster partnered with Morgan Stanley to help create five compelling short films that could be easily shared to promote its Healthy Cities initiative .

THE SHIFT IN ACTION: CASE STUDIES

http://www.bolstercreative.com/news/payitforward/

http://www.bolstercreative.com/work/morganstanley/

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