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Understanding Millennials In The Workforce

  1. T H E C H A N G E S C H O O L Where you go to learn, un-learn & re-learn. Embrace Change. Navigate through Change. Thrive in Change.
  2. T R A N S F O R M I N G T H E F U T U R E O F W O R K A N D F U T U R E O F L E A R N I N G The Change School is a holistic education provider for transformative learning and self-actualisation. We design and deliver experiential programs to develop every person’s intellectual, emotional, physiological and creative potential - encouraging both personal and collective responsibility to continuously learn and grow. We work with individuals and organisations to build connection, meaning and transdisciplinary inquiry, for life and work in the 21st century and beyond. We believe, with the right tools, change can be a force for good.
  3. W H Y Change is the only constant in life - Heraclitus Change Cycle
  4. IMMERSIVE RETREAT GYM (Gym for Your Mind) TEAM PROGRAMS W H AT Experiential Learning
  5. Individuals need self-awareness and clarity of their personal values They can align their values in life and work with clarity, confidence and emotional intelligence They are better equipped to navigate through change and by remaining resilient and in a state of flow. They can become socially and culturally sensitive citizens of the world who continually inspire others to do good. Action and change become reality. Theory of Change H O W Deconstruct. Reconstruct. Move Forward.
  6. U N D E R S TA N D I N G M I L L E N N I A L S I N T H E W O R K P L A C E Deconstruct
 - Discussion: Challenges
 - Who Are Millennials?
 - Why Millennials Matter Reconstruct
 - The Millennial Mindset
 - The Millennial Workforce
 - The Millennial Advantage Move Forward
 - Opportunities
 - Embracing Millennials
 - Activity: The Future Workplace
  7. W H AT C H A L L E N G E S D O Y O U FA C E ?
  8. A different world, a different worldview. Millennials have grown up in a the age of Digital, Globalisation and Economic disruption, giving them a set of priorities and expectations sharply different from previous generations. W H O A R E M I L L E N N I A L S ? Digital Natives - technologically savvy and poised to unleash innovation Social and Connected - considered the first global generation, with overlapping beliefs, values and shared experiences Less Money to Spend - slower to marry and have children, not always by choice Dedicated to Wellness - exercising more, eating smarter, seeking work/life balance BORN BETWEEN 1980 2000
  9. By 2020… Millennials will comprise half the Global Workforce In APAC… Millennials entering the workforce is identified as the top labour market shift affecting workforce strategy In the US…. Largest generation at work - one-third of the American workforce W H Y M I L L E N N I A L S M AT T E R With 75 million Millennials entering the workplace, they are shaping the world of work for years to come. Attracting the best is critical to the future of any business.
  10. Purpose is Key - 60% believe the businesses they work for should have a sense of purpose (Deloitte) So are Economics - 50% say increased earnings are the primary motivation for seeking leadership positions, and 50% cite profit as the most important function of business (Deloitte) Independent and Entrepreneurial - 70% worldwide prefer to work independently, 82% in emerging markets; 60% see opportunities to work abroad as an essential part of their career path (PwC) Value Balance - Work-life balance is a consistent priority… (HBR)
 Globally - enough personal time
 Asia - recognition and respect for employees
 North America - flexible hours T H E M I L L E N N I A L M I N D S E T
  11. Job satisfaction is driven by competitive compensation (67%), but bonuses are more important to non-Millennials (52%) T H E M I L L E N N I A L W O R K F O R C E SAP Workforce 2020 Report Millennials (21%) are no more likely than non-Millennials (24%) to leave their jobs in the next six months. Millennials have the same top priorities for job satisfaction worldwide, but in APAC, significantly more weight is placed on Career goals (48% vs 35%), Income goals (39% vs 32%), Advancement (38% vs 29%)
  12. T H E M I L L E N N I A L A D VA N TA G E Wired for Multitasking - as digital natives, this is the first generation to enter the workplace with a better grasp of a key business tool than more senior workers Poised to Unleash Innovation - living in an ever-changing world, they are culturally adaptable, creative problem solvers and open to change. They often question the status quo and expect to make an impact on day one. Collaborative - graced as the “We Generation”, they value teamwork, diversity and “inclusive” leadership styles Social Media Naturals - these skills are also useful for new business research and forming relationships with potential clients and customers Intrinsically Motivated - they want to learn, and they want to grow Results-Driven - thrive on performance feedback, and expect recognition and reward for hard work; they respect experience over power. Socially Conscious - believe that doing good is good for business
  13. O P P O R T U N I T I E S While 64% of executives in APAC say Millennials entering the workforce will have a major impact on their firm’s workforce strategy, only 27% say they are giving special attention to Millennials’ particular wants and needs. HR Strategy Talent Management Workplace Culture Leadership
  14. Leadership & Training Recruiting On-Boarding Work Ethic Motivation Boss Relationships Management Work Assignment Performance Feedback Reducing Turnover T H E F U T U R E W O R K P L A C E
  15. Think About: Flexible work scheduling Inspiring space Social interaction opportunities Remember: Millennials prefer open collaborations that allow employees to share information and for everybody to contribute to decision-making. Encourage workplace solidarity. Work Environment
  16. Learning & Training Opportunities Think About: Coaching/mentoring Different learning styles Personalised career plans Remember: Baby Boomer parents raised them to believe that education is the road to success. Unlike their parents, though, Millennials often gravitate towards more interactive, technology-based forms of learning.
  17. Recruiting Think About: Hiring strategy Job-skill matching Work scoping Remember: Millennials are driven by profit and purpose. They value feedback and opportunities to learn and grow. They are reputation-conscious, drawn to the values, vision and impact of organisations.
  18. On-Boarding Think About: Exposure to different departments Relationship building Orientation resources Remember: Millennials want connections, checkpoints, and mentoring
  19. Work Ethic Think About: Can-do attitudes Accountability Clearly defined expectations Remember: Millennials are ready to take on the world. Depending on cultural backgrounds, they may have been raised to believe in “never making mistakes” or to “keep failing”. Many Millennials have not been raised to look around and see what should be done next (in a workplace setting).
  20. Motivation Think About: Defining company values Setting challenges Recognition programs Remember: Millennials await their next challenge – they appreciate increased responsibility and additional training opportunities. They may seek validation and approval so tend to prefer more frequent employee reviews.
  21. Boss Relationships Think About: Exemplary Leadership Building trust Providing inspiration and guidance Remember: Millennials want a tight bond with a boss who is close, caring and aware. Encourage - don't squash them or contain them. They do not take well to orders and resent being handed busywork with no explanation as to its purpose.
  22. Managing Think About: Striking a balance between structure and flexibility Recognising and rewarding results Promoting diversity and inclusion Remember: Millennials grew up learning how to figure out things on their own; they know how to find their own answers. Focus on the results employees produce rather than on how they get it done.
  23. Work Assignments Think About: Striking a balance between structure and flexibility Recognising and rewarding results Promoting diversity and inclusion Remember: Millennials are great multi-taskers with 10 times the speed and technical knowledge of their older peers. Though they are independent thinkers, they love working in teams.
  24. Performance Feedback Think About: Team programs/coaching Performance reviews and feedback process Celebrating success Remember: Millennials are used to constant feedback - they gather in groups and play on teams; you can also mentor, coach, and train your millennials as a team. Boomer parents coached them to ask for what they want - that’s where the sense of entitlement comes from.
  25. Reducing Turnover Think About: Personal career development Accommodating personal needs Setting short-term milestones Remember: Millennials need to see where their career is going and they want to know exactly what they need to do to get there. Support Millennials who may want to pursue another degree part time and extend the same educational opportunities to other employees. They sometimes set short-term goals while being resistant to putting in the work.
  26. • Want a flexible approach to work, but very regular feedback and encouragement. • Tend to be uncomfortable with rigid corporate structure and turned off by information silos. • Want to feel their work is worthwhile and that their efforts are being recognised. • Value similar things in an employer brand as they do in a consumer brand. • Are true team players and thrive in collaborative, sharing environments. • Learn well in multiple, short-session formats rather than traditional classroom/ lecture style training. • Team building and training programs can help bridge the gap between different generations - enabling them to truly appreciate each other’s strengths. • Desire a varied and interesting career - they are motivated by rapid progression F I N A L T I P S
  27. K E Y TA K E A WAY S
  28. T H A N K Y O U ! W E B S I T E : T H E C H A N G E S C H O O L . C O M E M A I L : H E L L O @ T H E C H A N G E S C H O O L . C O M