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Speakers: Ladan Nikravan
Senior Editor
Diversity Executive magazine
Dan Schawbel
Managing Partner
Millennial Branding
Dealing With
Demanding Millennials

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Ladan Nikravan
Senior Editor
Diversity Executive magazine
lnikravan@humancapitalmedia.com
Dealing With
Demanding Millennials

8.
“Today’s rising youth workforce is not a liability and a challenge,
but an asset and an opportunity.”— Reena Nadler, coauthor of
the book “Millennials in the Workplace.”
Ask a Gen Y Blog

9.
Words of Wisdom
• “The best way to learn and move forward is to try things out
fast and let the result speak for itself. Most of the inspiring
and relatively successful entrepreneurs are not afraid of
failure or even embarrassment.”— David Chen, CEO of
Strikingly.
• “As any millennial in a truly honest moment will tell you,
though we’re a smart, capable, technically savvy, and talented
bunch, we still have a lot to learn. And if we can find an
environment where that experience gap isn’t shameful but is
instead embraced, we can thrive.”—Michael Terrell, managing
partner of the Terrell Leadership Group.

10.
Words of Wisdom
• “For millennials, it’s not all about paying your dues to work
your way up the ladder. It’s not about “up or out.” Millennials
want to contribute to meaningful work, and it’s more about
the career lattice or career scaffold where you can take steps
up, down, out or across to create a meaningful career.” —
Courtney Templin, author of “Manager 3.0: A Millennial’s
Guide to Rewriting the Rules of Management.”

11.
#DEwebinar
Dan Schawbel
Managing Partner
Millennial Branding
Dan@MillennialBranding.com
Dealing With
Demanding Millennials

12.
Comparing Generations
Gen Y Gen X Baby Boomers
Born 1982 - 1993 1965 - 1981 1945 - 1964
Size 80 million 45 million 76 million
Core values and attributes Realism, confidence,
achievement, confidence,
diversity, morality,
competitiveness,
attention seekers
Skepticism, fun,
informality, balance,
education, pragmatism,
adaptable, manager
loyalty, independent
Optimism, involvement,
anti war, equal rights,
involvement, work ethic
Career goals Build multiple careers Build a portable career Build a single career
Management style Collaboration Self-command Command and control
Work ethic Goal oriented, looking for
meaningful work,
collaboration
Care less about
advancement, outcome
oriented
Loyalty, process oriented,
value ambition and
teamwork

13.
Your Future is Gen Y
0% 20% 40% 60%
2020
2015
2010
The American Workforce by Generation
Baby Boomers Gen X Gen Y Gen Z
By 2025, Gen Y will account for 75% of the Global Workforce
Bureau of Labor Statistics, Business and Professional Women’s Foundation
Gen Y accounts for 60% of Ernst & Young and 55% of Quicken Loans.

14.
The Retention Rate Problem
10752
Tenure Rate Across Generations
Silent GenerationBaby BoomersGen XGen Y
It Costs ~$20,000 to Replace each Gen Y employee.
Millennial Branding & Beyond.com

15.
How Are Companies Reacting?
48%
37%
12%
40%
11%
10%
11%
What are you doing to retain millennial workers?
Workplace flexibility programs
Internal hiring programs
Rotational programs
Mentoring programs
Entrepreneurship/intrapreneurs
hip programs
Community service programs
Other
Millennial Branding & Beyond.com - http://millennialbranding.com/2013/08/cost-millennial-retention-study

16.
The Generational Clash Problem
1. Experience
2. Wisdom
3. Willingness to
mentor
1. Unrealistic salary
expectations
2. Poor work ethic
3. Easily distracted
Gen Y Their Managers
Millennial Branding, PayScale and American Express
Today 15% of Gen Y’s are already Managers.

17.
The Generational Clash Problem
Beyond.com Study

18.
What Do They Want?
 Constant feedback & mentoring
 Transparency
 Social media
 Internal career opportunities
 Freedom & flexibility
 Intrapreneurship
 Community support

19.
Constant Feedback
 Helps them improve.
 Shows that you care.
 Example) Adobe’s “Check-in” approach
 Abolished the annual performance review.
 Expectations are set annually but feedback is given
along the way.
 2% decrease in voluntary attrition globally
80% of Millennials prefer to receive feedback in real-time.
Achievers - http://www.achievers.com/sites/default/files/WP_ClassOf2012_0.pdf

20.
Mentoring Programs
 They seek career support
 Knowledge transfer
 Reverse mentoring
 Example) PepsiCo Conn3ct
• Executive sponsorship and support
• Idea and voices are heard

21.
Transparency
Transparency is 1 of the 4 characteristics Gen Y wants in a leader.
Time - http://business.time.com/2012/03/29/millennials-vs-baby-boomers-who-would-you-rather-hire

22.
Social Media & Gen Y
 40% check their cell phone every
10 minutes
 45% check social media as part of
their daily routine
 Connect and engage with them.
 Don’t block Facebook at work.
56% of Gen Y won’t work at your company if you ban it!
Cisco - http://www.cisco.com/en/US/netsol/ns1120/index.html

23.
Showcase Your Culture
50% of employers believe Gen Y will stay if there is a good cultural fit.
Millennial Branding & Beyond.com Study

24.
What is Your Office Like?

25.
Who Works For You?

26.
Social Recruiting
 Build your employer
brand
 Be a content source
 Engage by responding
 Activate your
employees
92% of companies use social networks for recruiting.
Jobvite - http://recruiting.jobvite.com/company/press-releases/2012/jobvite-social-recruiting-survey-2012/

27.
Case Study: Sodexo
 Tools used:
• Facebook, LinkedIn, Twitter, Flickr, Mobile
App, Widget
 How they use it:
• 18 properties
• Employee and event pictures
• Recruiters answer candidate questions in under
24 hours
 Results:
• 46% of 2012 hires used Sodexo social media
profiles
• Traffic increase of 26% every year
• Built a talent pipeline of 300K
• 10,700 fans and 6.8 million media impressions
per year

28.
Case Study: Salesforce.com
 What they do?
• CEO emailed sales team to spread
job opening on social networks.
• Posted 350 status updates on
LinkedIn.
 Benefits
• Free referrals
• Employer branding
 Results:
• Postings visible to 159K professionals
from 40K companies.
• 60% increase in sales employee
referral submissions in week one.
“Employee referrals are
10 times more likely to
be hired than other
sources.”
- Kate Israels, Talent
Acquisition, Salesforce.com
Coca Cola: http://coca-colacompany.com/stories/hire-power-how-social-media-is-changing-the-way-people-search-for-jobs

29.
Internal Hiring Programs
 Saves you money (costs 1.7x to hire
externally)
 Increases employee morale
 Allows talent to develop
 The #1 reason Gen Y leaves is lack
of career opportunities
40 – 60% of external hires are unsuccessful compared to
25% of internal hires.
Time - http://business.time.com/2012/08/15/the-power-within-why-internal-recruiting-hiring-are-on-the-rise/

30.
Case Study: Novelis
 What did they do?
• 41% of new hires are placed internally
• Employees get first shot at new openings
 Benefits
• Increased engagement
• Weeks to fill positions instead of months
• Cost avoidance
 Results
• Contributed $2 million in cost avoidance
over the last two fiscal years.
• 411 employees put through innovative
development programs
“We have found that
internal candidates
get to peak
performance faster
than do externals.”
- Leslie Joyce, Chief People
Officer at Novelis

31.
Case Study: Intel
 What did they do?
• Created DOT, an employee
development opportunity tool.
• Connects talent to short-term
needs to match development
goals.
 Benefits
• Fosters collaboration.
• Good for employee career
development.
 Results
• 178 assignments in 2010 and
2,371 in Q1 2013.
• 36 employee profiles in 2010 and
2,933 in 2013 so far.

32.
Workplace Flexibility
 Want to work from home
• More productive
• Save money
 Less barrier between
personal/professional
 Collaboration
Cisco - http://www.cisco.com/en/US/solutions/ns341/ns525/ns537/ns705/ns1120/cisco_connected_world_technology_report_chapter2_press_release.pdf
69% believe office attendance is unnecessary on a regular basis.

33.
Case Study: Aetna
Wall Street Journal: http://online.wsj.com/article/SB10001424127887324677204578185180450152760.html
 What did they do?
• All workers (35,000) can work from home
after they have proved their worth.
 Benefits
• Culture of trust
• Lower turnover
• Improved productivity/health
• Decrease costs
 Results
• Real-estate and related costs are 15% to
25% lower
• Annual savings of about $80 million.

34.
Case Study: American Express
 What did they do?
• Introduced BlueWork, an innovative
program designed to support and promote
flexibility, workplace collaboration and
business optimization
 Benefits
• Increase employee engagement and
satisfaction
• Cost savings through better utilization of
resources and real estate
• Support a highly collaborative and results-
oriented culture
 Results
• The BlueWork program has delivered not
only improved employee productivity, but
also saved millions in real estate cost
savings.

35.
Intrapreneurship
 Need to adopt a startup culture to
attract Gen Y.
 Create programs, contests and
hire EIR’s.
• LinkedIn’s [in]cubator
• Google’s 20% program
• Facebook Hackathon’s
• Microsoft Garage
• 3M’s “Skunk Works”
46% of Gen Y wants to start a business in the next 5 years
Fortune - http://money.cnn.com/galleries/2012/smallbusiness/1206/gallery.gen-y-entrepreneurs.fortune/index.html

36.
Case Study: DreamWorks
 What did they do?
• All workers can pitch new ideas to
executives and can take pitching
courses.
 Benefits
• Lower turnover
• Cater to entrepreneurial
minded Gen Y’s
• Harness new ideas
• Build a sense of meaning/belonging
 Results
• Invested millions in a new social
media mobile application created
internally by a Gen Y employee.
“Ideas flow up and
down the organization
very very quickly.”
- Dan Satterthwaite, Head
of HR, DreamWorks

37.
Case Study: Quicken Loans
 What did they do?
• Launched “Bullet Time,” a weekly four
hour period every Monday in which
technology team members can work
on any personal project.
 Benefits
• Gen Y can explore passions, network
and make a big impact.
 Results
• More than 1,150 IT team members
have participated since 2011.
• 67 Bullet Time innovations have been
implemented into daily business
processes.
• 146 new projects started since
January 1st, 2013
“We make sure our
team members have
the freedom to
create.”
– Linglong He, Chief
Technology Officer at
Quicken Loans

38.
Community Matters
92% believe that business
should be measured by
more than just profit and
should focus on a
societal purpose.
Deloitte: http://www.deloitte.com/view/en_GX/global/press/global-press-releases-en/cce7dc2887cf4310VgnVCM1000001a56f00aRCRD.htm

39.
Case Study: Ernst & Young LLP
 What did they do?
• EY Connect Day - a day of
community service for employees
 Benefits
• Appeals to Gen Y employees who
want to give back
• Encourages community building
 Results
• 61,500 volunteer hours in 2012
• 48,500 participants in 2011

40.
Case Study: Panera
 What did they do?
• Opened up “Panera Cares,” a café
where only donations are
accepted.
 Benefits
• Millennials want to work for and
purchase from companies that
give back.
 Results
• Press in the Boston Globe, ABC
News, The New York Times, etc.
• 700 transactions for the Boston
opening.
• Expanded to five locations
already.

41.
Millennial Job Seekers Can Be Consumers
1/3rd won’t buy from you if they
don’t receive a response to their
job application.
55% share bad experiences on
social media.
YouGov – http://www.prweb.com/releases/2013/5/prweb10722718.htm
CareerBuilder - http://business.time.com/2013/03/21/make-sure-job-applicants-have-a-good-experience

42.
The Future of Work
No firewalls
Gamification
No 9 to 5
Flat hierarchy
Results-oriented
Community driven

43.
What You Can Do Right Now
1. Set expectations
2. Become a mentor
3. Introduce them to
executives
4. Create an open
environment
5. Allow for flexibility
6. Give regular feedback

44.
Your Future is Gen Y

45.
Continue Your Journey
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