what millennials and young professionals want
TRANSCRIPT
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What young professionals wantDesires and expectations of the Millennial generation By Christoph Bauer
flickr / Lauren McKinnon
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What young professionals want, @ChristophBauer
Foreword
This presentation is meant to be thought-provoking. You may not find all of the statements here applicable to your work environment or experience.
If not indicated differently, all quoted statistics apply to Millennials - due to the different interpretations of the age bracket, results can be contradictory at times.
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What young professionals want, @ChristophBauer
Intro: Welcoming a new generation of business professionals
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What young professionals want, @ChristophBauer
Meet the author
4
Social Business
Technology
Change Management
Christoph Bauer
Communication scientist gone consultant
Est. 1984
Fields of work
„Lot’s of Baby Boomers have similar high expectations of their workplaces. But Millennials are those who
actually quit their jobs when things don’t work out.“
Introductory quote
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What young professionals want, @ChristophBauer
Work and the attitude towards it is fundamentally changing
flickr / Michael Herve
Drivers of change1. Social/ Mobile/ Analytics/ Cloud
2. Rise of the knowledge worker
3. Highly affluent society
„Talented people need organizations less than organizations need talented people.“ Dan Pink
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What young professionals want, @ChristophBauer
Questions arise: What are we here for? What is „good work“?
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What young professionals want, @ChristophBauer
Let’s take a step back: What characterizes these „Millennials“?
75% of the workforce in 20251
1 Projections of the Labor Force to 2050: A visual essay (2012)2 Cisco Connected World Technology Report (2012)3 Deloitte Millenial Survey (2014)4 McCann Worldgroup Study (2011)
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What young professionals want, @ChristophBauer
Let’s take a step back: What characterizes these „Millennials“?
75% of the workforce in 20251
1 Projections of the Labor Force to 2050: A visual essay (2012)2 Cisco Connected World Technology Report (2012)3 Deloitte Millenial Survey (2014)4 McCann Worldgroup Study (2011)
69% don’t believe regular office attendance is necessary2
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What young professionals want, @ChristophBauer
Let’s take a step back: What characterizes these „Millennials“?
75% of the workforce in 20251
1 Projections of the Labor Force to 2050: A visual essay (2012)2 Cisco Connected World Technology Report (2012)3 Deloitte Millenial Survey (2014)4 McCann Worldgroup Study (2011)
78% of job seekers are influenced by how innovative a company is3
69% don’t believe regular office attendance is necessary2
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What young professionals want, @ChristophBauer
Let’s take a step back: What characterizes these „Millennials“?
75% of the workforce in 20251
1 Projections of the Labor Force to 2050: A visual essay (2012)2 Cisco Connected World Technology Report (2012)3 Deloitte Millenial Survey (2014)4 McCann Worldgroup Study (2011)
56% won’t accept jobs from companies that ban Social Media278% of
job seekers are influenced by how innovative a company is3
69% don’t believe regular office attendance is necessary2
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What young professionals want, @ChristophBauer
Let’s take a step back: What characterizes these „Millennials“?
75% of the workforce in 20251
1 Projections of the Labor Force to 2050: A visual essay (2012)2 Cisco Connected World Technology Report (2012)3 Deloitte Millenial Survey (2014)4 McCann Worldgroup Study (2011)
56% won’t accept jobs from companies that ban Social Media278% of
job seekers are influenced by how innovative a company is3
53% would rather give up their sense of smell than technology
69% don’t believe regular office attendance is necessary2
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What young professionals want, @ChristophBauer
Millennials, meet corporate reality
Problems • Unhappy employees • High churn rates • Stagnating productivity • Loss of innovative potential
Underlying roots • Management and leadership
practices from 100 years ago • IT as a cost factor, not as an enabler • Over-standardization of everything • Lack of lifelong education
Trouble awaits here.
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What young professionals want, @ChristophBauer
People
Helping employees find their way in a rapidly changing environment.
The cultural side of change
Platforms
Bridging the gap between corporate technology and the real world.
Supporting technologies
Processes
Fighting against disruption by enabling people to rapidly collaborate, fail and iterate.
Agility & flexibility
Let’s look at the challenges from three different angles
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What young professionals want, @ChristophBauer
People
Helping employees find their way in a rapidly changing environment.
The cultural side of change
Let’s look at the challenges from three different angles
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What young professionals want, @ChristophBauer
In a world with endless possibilities, purpose is keyPeople
flickr / Till Westermayer
6 out of 10 said „a sense of purpose“ is part of the reason they work for their current employer1
1 Deloitte Millennial Survey (2014)
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What young professionals want, @ChristophBauer
Would you like some soft factors with your paycheck?People
flickr / John O’Nolan
Top 5 happiness factors for Millennials1
1 Boston Consulting Group: „Decoding Global Talent“ (2014)
1. Appreciation for your work
2. Good relationships with colleagues
3. Good work-life balance
4. Good relationships with superiors
5. Learning and career development
8. Attractive fixed salary
…
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What young professionals want, @ChristophBauer
Leadership must evolve to a trustful bi-directional relationshipPeople
flickr / Dennis Skley1 Deloitte Millennial Survey (2015)
True leadership means….1
Strategic thinking
Being inspirational
Strong interpersonal skills
Vision
Passion and enthusiasm
Driven by financial results
Follow autocratic approach
0 0,1 0,2 0,3 0,4
6 %
10 %
31 %
31 %
34 %
37 %
39 %Most valued answers Least valued answers
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What young professionals want, @ChristophBauer
Transforming leadership by getting rid of it - an alternative?People
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What young professionals want, @ChristophBauer
Excuse me, how sexy is your office?People
AirBnB Headquarters in San Francisco
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What young professionals want, @ChristophBauer
Excuse me, how sexy is your office?People
AirBnB Call Center in Portland
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What young professionals want, @ChristophBauer
Excuse me, how sexy is your office?People
Fujitsu Office in Sydney
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What young professionals want, @ChristophBauer
Excuse me, how sexy is your office?People
Google Office in Budapest
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What young professionals want, @ChristophBauer
Bauer says…
18
„Think deeply about how you design work experience as a whole. Offer different spaces for different minds
and moods.“
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What young professionals want, @ChristophBauer
Platforms free from grace result in a lack of motivation
Platforms
Bridging the gap between corporate technology and the real world.
Supporting technologies
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What young professionals want, @ChristophBauer
Corporate technology is an insult to MillennialsPlatforms
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What young professionals want, @ChristophBauer
Corporate technology is an insult to MillennialsPlatforms
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What young professionals want, @ChristophBauer
„I’ve got better tools at home than this“Platforms
use their own applications because corporate apps don’t meet their needs1
50%
1 Trackvia „Rebels with a cause“ study (2014)2 Ringcentral BYOD Survey (2014)
78%say workplace environment impacts their decision to stay at a job2
flickr / Florian Richter
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What young professionals want, @ChristophBauer
Bauer says…
22
„Fix corporate IT equipment or help people bring their own hardware and tools. Increasing productivity
has never been easier.“
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What young professionals want, @ChristophBauer
Processes
Fighting against disruption by enabling people to rapidly collaborate, fail and iterate.
Agility & flexibility
Over-standardization leads to average products and services
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What young professionals want, @ChristophBauer
Rigid process landscapes or „Driving with the handbrake on“Processes
say that operational structures and procedures are the biggest barrier for innovation1
61%
flickr / DWRose1 Deloitte Millennial Survey (2014)
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What young professionals want, @ChristophBauer
Flexible work arrangements beat higher salariesProcesses
say flexible work hours & freedom to work from anywhere improves work/ life balance1
50%
1 Ringcentral BYOD Study (2014)2 Mom Corps Study (2014)
37%would accept a pay cut to get more flexibility on the job2
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What young professionals want, @ChristophBauer
New practices and perks for a new generation of workersProcesses
„Take what you need“ vacation policy Employees at financial advisory company „Motley Fool“ can take as many days off as they like (as long as they get their work done).
Private concierge services Employees at Johnson & Johnson enjoy private concierge services so they can focus on work. Other companies provide cleaning services at home or child-care.
Recruiting with a twist Every (!) new employee at Zappos has to spend three to four weeks in the call center. After that, you receive an offer of $3.000 to leave the company. If you stay, you are in.
Almost classics by now Free massages, free fitness lessons and studios, free food, paid sabbaticals, company-owned hospitals, free time to work on own ideas, extended holidays for volunteering work, hardware for the home office, etc…
flickr/ John O’Nolan
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What young professionals want, @ChristophBauer
And even if they run away, you will still work with themProcesses
would consider quitting their existing jobs and working for themselves in the future1
80% 40%of the whole workforce will be made up of freelance employees in 20202
1 Elance-oDesk and Millennial Branding Study (2014) 2 (American workforce) Intuit Study (2013)
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What young professionals want, @ChristophBauer
Bauer says…
28
„Show appreciation by trying out new forms of compensation. Small changes like fresh fruit every day
can have a huge impact.“
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Thanks. Now go out and
change something.
What young professionals want, @ChristophBauer
Like my stuff? Connect with me. Hate my stuff? Discuss with me.