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You Can't Manage Millennials

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Engaging millennials
Engaging millennials
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You Can't Manage Millennials

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Millennials are disrupting the status quo in nearly every arena – from the music and food industries to politics to how we interact socially. Nowhere is their influence more keenly felt, however, than in the workplace – especially because it’s impossible to manage them.

In just over a decade, it’s estimated that Millennials will make up nearly 75% of the workforce. That’s why it’s essential for companies and their leaders to understand who Millennials are and what makes them tick. Or, in other words, how to keep them engaged. Engaged employees have an enormous impact on customer experience, the quality of products and services, and a company’s bottom line. Millennials are changing the rules regarding employee engagement. To be competitive, organizations need to learn how to attract, engage, and retain Millennials or they won’t be able to stay competitive in dynamic and ever changing workplace.

While a lot has been written about managing Millennials, data and experience suggest that attempting to manage them in the traditional sense won’t work. Millennials want to be part of fast moving, innovative organizations where they can contribute immediately. They are not content to wait in line for opportunities. And they want near continual feedback. After all, they are the first always-connected generation and they’ve grown accustomed to immediate feedback via “likes” and comments in their social media accounts. That’s why businesses that are thriving aren’t trying to manage Millennails, but rather are finding ways to channel the energy of Millennials by giving them big problems to solve and then letting them go to work.

Join us on this webinar to find out how to attract, engage, and retain Millennials in today’s ever-changing workplace.

Millennials are disrupting the status quo in nearly every arena – from the music and food industries to politics to how we interact socially. Nowhere is their influence more keenly felt, however, than in the workplace – especially because it’s impossible to manage them.

In just over a decade, it’s estimated that Millennials will make up nearly 75% of the workforce. That’s why it’s essential for companies and their leaders to understand who Millennials are and what makes them tick. Or, in other words, how to keep them engaged. Engaged employees have an enormous impact on customer experience, the quality of products and services, and a company’s bottom line. Millennials are changing the rules regarding employee engagement. To be competitive, organizations need to learn how to attract, engage, and retain Millennials or they won’t be able to stay competitive in dynamic and ever changing workplace.

While a lot has been written about managing Millennials, data and experience suggest that attempting to manage them in the traditional sense won’t work. Millennials want to be part of fast moving, innovative organizations where they can contribute immediately. They are not content to wait in line for opportunities. And they want near continual feedback. After all, they are the first always-connected generation and they’ve grown accustomed to immediate feedback via “likes” and comments in their social media accounts. That’s why businesses that are thriving aren’t trying to manage Millennails, but rather are finding ways to channel the energy of Millennials by giving them big problems to solve and then letting them go to work.

Join us on this webinar to find out how to attract, engage, and retain Millennials in today’s ever-changing workplace.

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You Can't Manage Millennials

  1. 1. You Can’t Manage Millennials: Recruiting, Engaging, and Retaining Millennials in Today’s Workplace
  2. 2. Mike Maughan Employee Insights
  3. 3. Agenda •Millennial Disruption •Old School vs. New School Business •Qualtrics Millennial Survey •Questions & Answers
  4. 4. Millennial Disruption Music Food Politics Social Interaction Workplace
  5. 5. The World Has Changed
  6. 6. State of Millennials in the Workforce Deloitte Millennial Survey, January 2014 and Intelligence Group Millennial Survey By 2025, Millennials will make up 75% of the workforce 52% of Millennials in developed markets anticipate working for themselves 64% of Millennials said they would rather make $40K at a job they love than $100K at a job they think is boring
  7. 7. Innovating to Address Global Challenges Deloitte Millennial Survey, January 2014 Businesses and Individual Entrepreneurs Universities Government 44% 23% 22%
  8. 8. Deloitte Millennial Survey, January 2014 Millennials want to work for organizations that: 1.Foster innovative thinking 2.Develop their employees’ skills 3.Make a positive contribution to society
  9. 9. Who is Qualtrics? The Global Leader in Enterprise Survey Technology Leader in Enterprise Customers Leader in Growth and Innovation Leader in Colleges and Universities
  10. 10. Leading Institutions Choose Qualtrics Employee Insights
  11. 11. Top 5 Ways to Use Qualtrics to Gather Employee Insights 1.Employee Engagement Surveys 2.360-degree Employee Feedback 3.Employee Satisfaction 4.Employee Feedback 5.Exit Interviews
  12. 12. Old School vs. New School
  13. 13. Individual Contributors Job description with a clearly defined role Self-directed without much guidance Old School Businesses New School Businesses
  14. 14. Oversight Overseers, Bosses, and Managers Mentors, Coaches, and Leads Old School Businesses New School Businesses
  15. 15. Employment Employees want a job Employees want an experience Old School Businesses New School Businesses
  16. 16. Feedback Annual performance reviews Continual feedback Old School Businesses New School Businesses
  17. 17. Adoption Top down implementation Grass roots adoption Old School Businesses New School Businesses
  18. 18. Mission / Purpose Do well Do well while doing good Old School Businesses New School Businesses
  19. 19. Individual v. Group Individually focused Group focused Old School Businesses New School Businesses
  20. 20. Qualtrics Millennials in Tech Survey •Millennials: Born between 1982 and 2000 •All respondents have some college with 55% college graduates and another 30% with a graduate degree •48% of respondents have 4+ years of work experience
  21. 21. Recruit
  22. 22. Millennials Want to Do Good http://beta.dogoodvolunteer.com/
  23. 23. Millennials Want It All
  24. 24. Most Important Thing When Looking for a Job Professional Growth Compensation Flexible Hours Mission / Purpose Industry Company Leadership Mentorship 0% 10% 20% 30% 40% 50%
  25. 25. Recruiting Millennials Compensation Company Culture
  26. 26. Compensation
  27. 27. When Considering a Job Offer Which is Most Important: Title, Compensation, or Mission 60.5% 29.5% 10% Compensation Mission / Purpose Title
  28. 28. Salary Expectations for First Full-time Job 0% 5% 10% 15% 20% 25% 30% Less than $20K $20K - $34.9K $35K - $49.9K $50K - $64.9K $65K - $80K Over $80K
  29. 29. How Important are the Following to You in a Job? •Recognition •Resources •Having close friends at work •Getting paid well •Flexible work schedule •Organization's mission •Opportunities for professional growth
  30. 30. How Important are the Following to You in a Job? 5 6 7 8 9 10 Getting paid well Having the resources to do my job Opportunities for professional growth Receiving recognition Flexible work schedule Organization's mission Having close friends at work
  31. 31. Culture
  32. 32. All The Amazing Free Food At Facebook’s HQ Gives Some Employees The ‘Facebook 15’
  33. 33. Company Culture Collaborative Work Environment This was ranked most important by 51% of respondents and first or second by 74% of respondents
  34. 34. Company Culture Transparency and meritocracy tied for second Dress code and free food were ranked very low (Free food ranked lowest or second lowest by 71% of respondents)
  35. 35. Company Provided Cell Phone Plan vs. Free Meals 59% prefer a free cell phone plan 41% prefer free meals
  36. 36. Charitable Activities How important is it to you that a potential employee engage in charitable activities (donations, corporate sponsored volunteer work, etc.)? 44% said it was very or extremely important 56% said it was not important to their decision making
  37. 37. Work Schedule: Required vs. Ideal 0% 10% 20% 30% 40% 50% 60% I manage my own schedule In the office during set hours I'm allowed to work remotely, but during set hours Generally in the office, but can work remotely on occasion Required schedule Ideal schedule
  38. 38. Company
  39. 39. Culture vs. Company Company culture: The organization’s norms, mission, values, and systems Company strategy and trajectory: The organization’s plans and opportunities for growth
  40. 40. Company vs. Boss When considering where to work, which is more important to you? 54% said the company’s reputation and trajectory were most important to them 46% cared most about who they would be working for and learning from
  41. 41. Engage
  42. 42. How Engaged Are Employees? If your company were a 10-person crew team, statistically speaking: •3 employees are rowing with all their hearts •5 are just along for the ride, looking at the scenery •2 are trying to sink the boat According to Gallup’s 2013 State of the American Workplace only 30% of employees are engaged in their work.
  43. 43. Diagnosing Disengagement: Stop the Infection From Spreading •Actively disengaged employees cost the US economy ½ a trillion dollars per year •They are more likely to: •Steal from their employers •Negatively influence co-workers •Drive customers away Gallup, State of the American Workplace: Employee Engagement Insights for US Business Leaders, 2013
  44. 44. Why Organizations Care About Employee Engagement Employee Engagement is a proven driver of: •Quality •Revenue •Customer Service •Retention •Productivity
  45. 45. Most Exciting Part About Coming to Work 0% 5% 10% 15% 20% 25% 30% 35% 40% Challenging projects How much money I can make Co-workers I enjoy Opportunity to make a difference Recognition
  46. 46. Challenging Projects Millennials are not content to sit on the sidelines
  47. 47. Individual Contributors Job description with a clearly defined role Self-directed without much guidance Old School Businesses New School Businesses
  48. 48. Challenging Projects Provide the right playing field and let them play
  49. 49. Biggest Challenge to Motivation 0% 5% 10% 15% 20% Not compensated fairly Unchallenging projects Challenging co- workers My boss shows no interest in me I rarely, if ever, receive recognition I am in over my head
  50. 50. On a Daily Basis, What is Most Important For You to Receive? 0% 5% 10% 15% 20% 25% 30% Challenging opportunities Meaning from my work Compensation Praise Credit
  51. 51. Non-work-related Social Media 0% 10% 20% 30% 40% Over 2 hours Between 1 and 2 hours 30 to 59 minutes Less than 30 minutes
  52. 52. Retain
  53. 53. Average Time Per Job 0% 10% 20% 30% 40% 50% Over 8 years Between 4 and 8 years Between 2 and 4 years Less than 2 years
  54. 54. Work Life Balance vs. Work Life Integration
  55. 55. Work / Life Integration •62% count at least one co-worker among their closest friends Regarding non-work-related social media accounts •75% are connected to at least 2 co-workers •35% are connected to their boss •57% are likely or very likely to accept a request sent by a boss •26% are likely or very likely to send a request to their boss
  56. 56. What is Most Important to You? Family Ranked 1st by 61% and 1st or 2nd by 71% 2.Professional success 3.Education 4.Travel 5.Volunteer work 6.Religion
  57. 57. Personal Life at the Office 60% are comfortable talking with their boss about their personal life 40% prefer their boss stick solely to work related matters
  58. 58. Comfort Talking About at Work 4 4.5 5 5.5 6 6.5 7 7.5 8 Personal goals Health Personal challenges Family situation Dating life Politics Relgion
  59. 59. Recognition 47% chose recognition by the CEO in front of the whole company 53% chose a $500 cash bonus with no recognition at all
  60. 60. Nearly 40% of Millennials said that dislike of their boss would be a bigger factor in their decision to quit, than dislike of their job
  61. 61. Value Most in a Boss 27% said, “A willingness to be a mentor” •Trustworthiness (18%) •An expert (15%) •Kindness (15%) •Shares credit / takes blame (10%) •Provides autonomy (10%)
  62. 62. Most Want to Avoid in a Boss Micromanager Incompetence Mean Narcissistic / selfish Unreasonable
  63. 63. Perception of Your Boss 0% 10% 20% 30% 40% 50% I'm continually learning from my boss My boss has lots to teach, but we rarely interact I've learned as much as I'm going to I know more than my boss
  64. 64. Oversight: Actual vs. Ideal 0% 10% 20% 30% 40% Check on every detail of every project Daily check in Weekly check in Monthly check in Check in only when I need something or have a question Actual Ideal
  65. 65. Feedback Frequency: Actual vs. Ideal 0% 5% 10% 15% 20% 25% 30% Daily 2-3 Times a Week Once a Week 2-3 Times a Month Once a Month Less than Once a Month Never Actual Ideal
  66. 66. Constructive Criticism 0% 10% 20% 30% 40% 50% 60% Face-to-face from my direct supervisor Via email from my direct supervisor Face-to-face from a co- worker I trust
  67. 67. Conclusion
  68. 68. How Do You Manage Indiana Jones? You can’t
  69. 69. How Do You Manage Indiana Jones? Channel his energy and talents 1.Give him big problems to solve and remove obstacles from his path 2.Pay him 3.Make his work an experience worth sharing, not just a job to get done 4.Mentor, don’t micromanage 5.Let him run fast and give him room to fail
  70. 70. Provide the Playing Field
  71. 71. Qualtrics 360 Employee Development Made Simple With Qualtrics 360, you can: 1.Save time with our intuitive, point-and-click interface 2.Configure your 360s with our flexible form development 3.Access real-time, customizable reports 4.Automate management of the 360 process 5.Integrate with your existing HRIS through our open API qualtrics.com/360
  72. 72. Qualtrics Employee Engagement Employee Surveys Made Simple With Qualtrics Employee Engagement, you get: 1.Real-time results 2.Sophisticated hierarchical reporting 3.Individualized, custom dashboards 4.Organizational structure 5.Action planning 6.Flexible form creation qualtrics.com/ee
  73. 73. 73 Questions?

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