making the most of millennial talent webinar final (1)
TRANSCRIPT
Making the Most of
Millennial Talent
Presented By:
Tracey Wik Vice President
Who am I?
Tracey Wik
Vice President
Development
Solutions
Different Yet the Same
Fundamentally people want
the same things, no matter
what generation they are
from.
1 You can work with (or
manage) people from all
generations effectively
without becoming a
contortionist, selling your soul
on eBay, or pulling your hair
out on a daily basis.
2 Source: Retiring the
Generation Gap How
Employees Young & Old Can
Find Common Ground
Jennifer J. Deal Center for
Creative Leadership
3 3
The Generations at a Glance
The Greatest
Generation: Those born
before 1928 “saved the
world” when it was
young, in the memorable
phrase of Ronald
Reagan. It’s the
generation that fought
and won World War II.
The Baby Boomer: This
label is drawn from the
great spike in fertility that
began in 1946, right after
the end of World War II,
and ended almost as
abruptly in 1964, around
the time the birth control
pill went on the market.
Generation X covers
people born from 1965
through 1980. The label
long ago overtook the
first name affixed to this
generation: the Baby
Bust.
The Silent
Generation: This label
describes adults born
from 1928 through 1945.
Children of the Great
Depression and World
War II.
The Millennial
Generation: This label
refers to those born after
1980 – the first
generation to come of
age in the new
millennium.
The Greatest Generation
• Born before 1928, (estimate 50
million)
• Depression and World War II
• Company Man – Don’t question
Authority
• Dedication – Sacrifice – Thrifty
• Nuclear Family
• Command & Control, Hierarchical
style
The Silent Generation
• Born between 1928 – 45,
(estimate 60 million)
• Depression – World War II &
Korean War
• Company Man – Loyal & Don’t
question Authority
• Nose to the Grindstone – hard
working ethic
• Nuclear Family
• Command & Control, Hierarchical
style
Baby Boomers
• Born between 1946 – 64, (80+
million)
• Post War Prosperity – “Anything is
Possible…”
• Anti-Establishment
• Were Promised and Fulfilled the
American Dream!
• Highest Divorce Rate in History –
typical 2nd Marriages
• Driven to Succeed on their Own
Terms – think Steve Jobs
Generation X
• Born between 1965 – 80, (only 51
million)
• Watergate – Vietnam War – Can’t
trust anyone
• Question & Mistrust of Authority
• Shaped by Watching TV and seeing
Politicians Lie and Parents laid off
• Latch-Key Kids (Day Care)
Generation – Technology oriented
• Work-Life Balance important –
Skeptical & Cynical
Millennials
• Born after 1981, (75+ million)
• Digital Age – Internet Connectivity
• Greatly indulged by Affluent,
Fun-loving parents
• “Drop-Down and Click Menu” driven
= Demand list of Options
• Grew up as “Gamers” – Driven to
Win; Collaborative & Achievement
oriented
• Hard Workers but need Immediate
Gratification & Feedback
How Millennial Are You?
Take our 14 item quiz and we’ll tell you how
"Millennial" you are, on a scale from 0 to 100,
by comparing your answers with those of
respondents to a scientific nationwide survey.
You can also find out how you stack up
against others your age.
What Millennials Want From Their Company
Develop my skills for the
future
Have Strong Company
Values
Offer customized
options in my
benefits package
Allow me to blend work with the rest
of my life
Offer a clear career path
Source: Mentoring Millennials
Harvard Business Review Meister &
Willyerd May 2010
What Millennials Want From Their Boss
Help me navigate my career path
Give me straight feedback
Mentor and
coach me
Sponsor me for formal
development programs
Allow me to have a flexible schedule
Source: Mentoring Millennials
Harvard Business Review Meister &
Willyerd May 2010
How Millennials Want to Be Developed
Technical skills in my area of
expertise
Self-management and personal productivity
Leadership
Industry or functional knowledge
Creativity and innovation strategies
Source: Mentoring Millennials
Harvard Business Review Meister &
Willyerd May 2010
• Chief Executive’s “Best Companies for Leaders” survey
• This Global Leadership Research project is the premier effort
toward identifying and recognizing excellence in leadership
development
One quarter of organizations
surveyed believe it is critical to focus
on the development of Millennials
How to put this
information into action
Attraction vs. Promotion How to attract, develop and retain the Millennial Generation for your organization
Recruiting: New Approaches 1
Onboarding: Intensive and Sustained 2
Development: The Social Professional 3
Organization Change: Reciprocal Advantages 4
Next-Generation Development: Bigger, Better, Faster 5
Recruiting Millennials The effort to engage millennials begins in the most obvious recruiting
arena, the university. Larger organizations maintain a strong recruiting
presence to millennials by:
Refreshed Branding
Social Media Inclusion
Set Goals 1
Involve “real“ work 2
Significant Development Support 3
Meaningful work
experience is a key
concept. Best-practice
programs collaboratively:
Onboarding Millennials To introduce Millennials to the life of the organization, the best programs strike a careful
balance between purpose-built learning experiences and challenging, productive work.
Providing flexibility, ample feedback, and tangible evidence of progress are key factors in
sustaining engagement.
Learning Experience
s
Ample Feedback
Challenging Productive
Work
Evidence of Progress
Coaching / Mentoring continues to be the
most cost-effective practice for development
Development of Millennials Chally Best Company for Leaders Survey found that the majority of the
organizations surveyed say that the development and retention of the Millennial
Generation is of critical concern for their organization.
Educating ourselves
on how to reach this
generation
Education 1
Develop a more
formal career path
with advancement
opportunities
Career Paths
Actively acknowledge
the behavior & thought
patterns of the
Millennials
Behavior
Review policies,
benefits and cultural
practices to support
this age group
Culture
Use Social Media to
communicate
with Millennials
Using Social Media
Flexible work hours,
privacy accommodation
for working mothers, and
being part of decision
making process
Flexible
2 3
4 5 6
Organizational Change In the broadest sense, however, a commitment to developing talent reaches beyond one-way
training activities, or even programs that give employees a truly collaborative role.
Learning experiences
Ample Feedback
Challenging Productive
Work
Evidence of progress
Reverse Mentoring
In the broadest sense, a
commitment to developing talent
reaches beyond one-way
training activities, or even
programs that give younger
employees a truly collaborative
role.
Managers come to understand the
attitudes, motivations and cultural
norms of Millennials
Learn practical, technical and social
skills – and often profit from informal,
unfiltered bi-lateral feedback
Millennial mentors gain the professional
benefits of contact with senior
managers, plus a gratifying level of
visibility
1
2
3
An Evolving
Workplace
Next-Generation
Development
Bigger, Better, Faster
• WHAT we Want from the
Workplace is the same – HOW we
want it is different
• Millennials are having a positive
impact on our culture and by 2025
will represent 75% of global
workforce
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