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What Millennials and young professionals want

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Millennials will soon make up the majority of the workforce. But companies are not prepared for their expectations. Cultural change and technical enablement will be key for every company that wants to attract and retain young professionals.

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What Millennials and young professionals want

  1. What young professionals want Desires and expectations of the Millennial generation By Christoph Bauer flickr / Lauren McKinnon
  2. 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.
  3. What young professionals want, @ChristophBauer Intro: Welcoming a new generation of business professionals 3
  4. 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
  5. What young professionals want, @ChristophBauer Work and the attitude towards it is fundamentally changing flickr / Michael Herve Drivers of change 1. 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
  6. What young professionals want, @ChristophBauer Questions arise: What are we here for? What is „good work“?
  7. 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)
  8. 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
  9. 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
  10. 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
  11. 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
  12. 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.
  13. 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
  14. 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
  15. What young professionals want, @ChristophBauer In a world with endless possibilities, purpose is key People 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)
  16. 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 …
  17. What young professionals want, @ChristophBauer Leadership must evolve to a trustful bi-directional relationship People 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
  18. What young professionals want, @ChristophBauer Transforming leadership by getting rid of it - an alternative? People
  19. What young professionals want, @ChristophBauer Excuse me, how sexy is your office? People AirBnB Headquarters in San Francisco
  20. What young professionals want, @ChristophBauer Excuse me, how sexy is your office? People AirBnB Call Center in Portland
  21. What young professionals want, @ChristophBauer Excuse me, how sexy is your office? People Fujitsu Office in Sydney
  22. What young professionals want, @ChristophBauer Excuse me, how sexy is your office? People Google Office in Budapest
  23. 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.“
  24. 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
  25. What young professionals want, @ChristophBauer Corporate technology is an insult to Millennials Platforms
  26. What young professionals want, @ChristophBauer Corporate technology is an insult to Millennials Platforms
  27. 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
  28. 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.“
  29. 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
  30. 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)
  31. What young professionals want, @ChristophBauer Flexible work arrangements beat higher salaries Processes 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
  32. What young professionals want, @ChristophBauer New practices and perks for a new generation of workers Processes „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
  33. What young professionals want, @ChristophBauer And even if they run away, you will still work with them Processes 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)
  34. 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.“
  35. Thanks. Now go out and change something. What young professionals want, @ChristophBauer Like my stuff? Connect with me. Hate my stuff? Discuss with me.

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