Milliennials make up 80 million members of the US population, and counting. They will be 50% of the workforce by 2020. Here's how to drive productivity and innovation from this unique workforce generation.
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AGENDA
- Why weāre talking about millennials today
- Who are millennials
- What makes millennials unique
- Actionable tips to recruit & retain millennials
- Q&A
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We donāt want millennials to be a bogeyman
- We have lots of millennials
in our own workplace
- Their workplace demands
are not unreasonable
Why Are We Talking
About Millennials?
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Baby Boomers Gen X Millennials
1946ā1964 1965ā1980 1980ā2000
The Vietnam War Watergate 9/11
Born Between
The Cold War First PCās War On Terror
Television AIDS The Great Recession
Civil Rights Movement MTV Occupy Wall Street
Apollo 11 Moon Landing Fall Of Berlin Wall Social Media
Woodstock
Core Events During
Their Upbringing
Social Involvement Pragmatism Optimism
Optimism Racial Diversity Social Tolerance
Personal Growth Self-Reliance Flexibility
Work Ethic Computer Literacy Autonomy
Globalism Social Responsibility
Main Values
Who Are Millennials?
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- Millennials make up 80 million members
of the US population, and counting.
- They will be 50% of the workforce by 2020.
Who Are Millennials?
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What Makes Millennials Unique
1. Money isnāt king: 72% sacrifice more pay for
professional fulfillment
2. Good luck keeping them: 43% of millennials
plan to actively look for a new job in 2015
3. Flexibility more than a need-to-have: 45%
would choose work flexibility over higher pay
4. Do-gooding is on the to-do list: 79% want to
work for a company that cares about its impact
on society
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Open & Transparent
Environments
Transparency is the #1 factor correlated to
employee happiness. To foster transparency
in your organization, consider:
- 1:1 weekly meetings
- Bi-monthly or monthly company meetings
Be clear about expectations and responsibilities
- Move beyond the 1-year performance review
- Introduce OKRās and SMART goals
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Onboarding Experience
49% of millennials agree that they would like a better onboarding process
for new hires
- Be deliberate in how you welcome them on week one
- Create a 30, 60, and 90-day onboarding plan
- Design opportunities for socialization and employee-to-employee introductions
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Oļ¬ice & Collaborative Environments
Millennials are changing the way oļ¬ices and working spaces are being
designed. Hereās what companies are doing to accommodate this growing
group of professionals:
- Some companies are knocking down walls and making work spaces more open
and collaborative.
- Others are adding more communal meeting spaces, kitchens, and break rooms.
- Many companies are adding more standing desks or making existing desks stand-
ing-compatible, as well as adding more furniture and other non-traditional options
for employees to utilize.
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Oļ¬ice & Collaborative Environments
These changes often result in a boost in collaboration among team members,
but thatās not the only benefit that companies are seeing:
Changes in oļ¬ice design have [also] helped businesses
better utilize space to save money on real estate costs,
reducing the average space occupied per worker to 170
square feet in 2013 from 225 square feet in 2010.
ā Survey by CoreNet Global
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Perks & Benefits
As mentioned earlier, millennials arenāt just motivated by money alone. They
prefer to work for companies that can oļ¬er them the right perks and benefits
too. To attract top talent, consider these perks & benefits ideas:
- Oļ¬er clear mentoring programs within your company
- Provide regular career training/advancement opportunities
- Give them 24/7 access to your employee handbooks, benefit overviews, time-oļ¬ calendars,
etc. (more on this later in the presentation)
- Go above and beyond when it comes to health and wellness. Donāt just give them access
to health insurance. Give them resources and technology (like FitBit or other wearable
devices) that will allow them to be proactive when it comes to their health
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Feedback & Collaboration
This is a generation used to being listened too,
so have the tools in place to make this happen
- Introduce pulsing employee feedback surveys
- Leverage peer-to-peer recognition tools
- Adopt a virtual suggestion box
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Work/Life Balance, Flexible Schedule
Millennials also look for and ultimately choose to work for companies that encour-
age work/life balance and more non-traditional work schedules. To attract top mil-
lennials in the roles you need to fill, decide if itās possible to:
- Develop some sort of semi-remote option for employees (1 day a week, 2 days a
week, every other week, etc.)
- Allow employees to choose their own hours (6a-3p, 8a-5p, 10a-7p)
- Create fun company culture events that bring together employees and their families
- Encourage your employees to take time oļ¬ if they need to reset
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Embrace Technology
We touched on it briefly in the benefits & perks section, but itās worth highlighting
again: millennials want to work for companies that embrace technology. Some
things you can do:
- Streamline time-consuming processes (like employee onboarding) by using apps
- Make important information available to your employees 24/7 (we use Google Drive,
Dropbox, and a company wiki page)
- Ditch ineļ¬icient forms of communication and try new options like Hipchat & Voxer
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Live Your Company Values
This is a mission and values-driven generation. Make
sure your organization understands and adapts to this:
- Hire, fire, and make business decisions based on your values
- Embrace volunteerism
- Oļ¬er up your product
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Summary
Actionable Tips to Recruit & Retain Millennials:
- Open & Transparent Environments
- Positive Onboarding Experience
- Attractive Oļ¬ice & Collaborative Environments
- Competitive Perks & Benefits
- Commitment to Feedback & Collaboration
- Work/Life Balance & Schedule Flexibility
- Embrace Technology
- Live Your Company Values
21. Continue The Conversation + Special Oļ¬er
@wheniwork @TINYpulse
Ask us more questions and keep the conversation going on Twitter:
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