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The editors at Business MBA Degrees decided to research the topic of:
Integrating Millennials in the Workplace
By 2020, nearly half of the workforce will be from the [pick from below], [pick from below], but certainly distinctive generation.
- Adjectives =
- Pressured, programmed, special, sheltered, instant, entitled, optimistic, achievers, rule-followers, authority trusting, collaborating, lifelong learning...
Formation of a generation[1]
- 1.) Life cycle effects= your life stage affects your goals, motives, values, etc.
- 2.) Period effects= wars, scientific breakthroughs, social movements, economic periods
- 3.) Cohort effects= events or trends that leave a lifelong and differentiating impression on a generation (ie. the great depression, WWII).
Where do you stand?
- 1.)Under 20? Skip the quiz. You weren't part of the data.[comment# only 19+ year olds used in calculating weights]
- Attitudes
- --Is your generation unique? Yes= +2% likelier to be a Millennial; No= +2% likelier to be Boomer/X'er/Silent
- (Disclaimer: this question doesn't really matter, every generation thinks they're unique!)
- --Do you think more people living together without being married is bad for society? Yes=+13% likelier to be a Boomer/X'er/silent; No= +13% likelier to be a Millennial
- --Are you against/strongly against gay marriage? Yes=+10% likelier to be a Boomer/X'er/Silent; No=+10% likelier to be a Millennial
- --Are you dissatisfied with how things are going with your country today? Yes=+7% likelier that you're a Boomer/X'er/Silent; No=+7% likelier to be a Millennial
- Tech
- -- Do you have a social media profile? Yes= +12% likelier to be a Millennial; No= +12% likelier to be Boomer/X'er/Silent
- -- Have you texted in the past 24 hours? Yes=+26% likelier to be a Millennial; No= +26% likelier to be a Boomer/X'er/Silent
- --Have you texted while driving? Yes=+14% likelier to be a Millennial; No=+26% likelier to be a Boomer/X'er/Silent
- --You sleep with your cell on your bed? Yes= +5% likelier to be a Millennial; No= +5% likelier to be a Boomer/X'er/Silent
- [millennials are here 18-29 y.o.]
- Other
- --Did you grow up with one parent? Yes= +5% likelier to be a Millennial; No=+5% likelier to be a Boomer/X'er/Silent
- --Vote independant? Yes=+3% likelier to be Boomer/Xe'r/Silent; No= +3% likelier to be Millennial.
- --Do you have a tattoo?Yes= +18% likelier to be a Millennial; No= +18% likelier to be a Boomer/X'er/silent
- Add up your score to see where you stand. Young or old, we're all in the same boat.
Big Picture:
- Millennials entered the job market in or immediately before the recession, and have witnessed the ever changing nature of technology used in the workplace throughout their lives.
- Important factors in a job:[4]
- Baby boomers and Generation X'ers: Job security and structure
- Millennials: Flexibility and employability --
- Work works differently for Millennials
- Twice as many Managers value high pay as Millennials.
- Most important factors in work
- 30%: Meaningful work
- 28%: High Pay
- 25%: Sense of accomplishment
- 5%: Responsibility
- What managers want at work
- 50% High Pay
- Tied 12%: Meaningful work, responsibility, sense of accomplishment
Understand what Millennials want to get the most out of your workforce
- 1.)Mentor: Millennials were raised in hyper structured with definitive guiding forces. It's as simple as a short email, or a minute or two on the phone.
- --Over 90% of Millennials believe they should have on the job training and opportunities for continuing education.[5]
- 2.)Collaborate: Once procedure and deadlines are laid out, Millennials start the brainstorming, with an unchecked flow of information and regular feedback preferred.
- --From paying bills to taking classes, Millennials are digital natives used to being able to customize their life for efficiency.
- 3.)Measure: Order and feedback are the rules of the day. Measure success and make clear what success is. --They grew up with it. Child protection policies since 1982: Child restraint, child-proof homes, school vaccination checks,video game ratings, Amber alerts, 'graduated' drivers licences, "deadbeat" dads, urban curfews, "safe place" havens for kids, "drug free" zones.[3]
- 4.)Motivation: Millennials want their work to be fulfilling and filled with meaningful relationships. Throw a pizza party in the office to get folks talking.
- Assure Millennials that it's ok to speak up and offer ideas.
- --Formal 1 on 1 weekly meetings with bosses, collegues, project managers, etc. Don't pit young employees against each other in a culture of competition, allow them to work together and build trust.
- [Generational gap]
- Millennials are more likely to return home to live, get married later, buy homes later, do without parental support, and settle down later than other generations.
- Leading to speculations that Millennials "grow up" at a later date.[7]
Parental Involvement
- 4% of Millennials bring their parents to job interviews.
- 25% of those in their 20's recieve "intense support" involving emotional, practical, and financial matters.[7]
- With so many parents supporting Millennials, they're key to getting the right intern, and eventually worker.
- 84% of 2006 grads completed at least one internship, with 38% of interns at major employers eventually working full time.[3]
Tips
- --Parent newsletters, information packs, and website sections work well to engage an entire family unit.
- --Start early. With so many college interns eventually working full time for the same employer, get talent young.
- --Train interns into the employee you want. Enable them to succeed and grow, with you.
Millennials are digital natives
- Leading to several points:
- --They don't percieve managers as experts in the field.
- (They can just google it and find multiple versions of what a manager says.)
- ----They see managers as coaches, organizing an efficient team.
- --If a Millennial thinks they can figure out how to work things their own way, let them.
- (They're used to pulling together solutions from an endless data stream.)
7 out of 10 current high schoolers aspire to go to four year colleges. They're the most tech savvy generation yet. And by 2020 they'll be half the workforce. Help millennials integrate and ensure long term success.
SourceS
- http://www.pewsocialtrends.org/files/2010/10/millennials-confident-connected-open-to-change.pdf
- http://www.lifecourse.com/assets/files/Millennials_ITW_PB_WEB.pdf
- http://www.kenan-flagler.unc.edu/executive-development/custom-programs/~/media/DF1C11C056874DDA8097271A1ED48662.ashx
- http://www.bc.edu/content/dam/files/centers/cwf/pdf/BCCWF%20EBS-millennials%20FINAL.pdf
- http://www.census.gov/prod/cen2010/briefs/c2010br-03.pdf
- http://www.policymic.com/articles/25014/why-does-it-take-millennials-longer-to-grow-up-than-prior-generations
