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1 © Copyright 2014
1 © Copyright 2014- Career Partners International LLC
Generation
Understanding the Next Generation of Worker
Dan Schawbel Founder, Millennial Branding
November 6, 2014
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North America
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Latin America
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EMEA 68
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Registration Responses
5
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
0 - 20% 21% - 40% 41% - 60% 61% - 80% Over 80%
20%
32% 33%
8% 1%
37%
47%
13% 3%
0%
81%
13% 5% 1% 0%
Gen X (born 1965 - 1981 Gen Y (born 1982 - 1993) Gen Z (born 1994 - 2010)
Response Options
Dan Schawbel, Founder of Millennial Branding
Research in partnership with
Based on the first worldwide study of Gen Z and Y workplace expectations.
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Comparing Generations Gen Z Gen Y Gen X Baby Boomers
Born 1994 - 2010 1982 - 1993 1965 - 1981 1945 - 1964
Size 23 million 80 million 45 million 76 million
Core values and attributes
Tech savvy, globally connected, flexible, tolerant of diverse cultures
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
Education Not worth it An expense A way to get there A birthright
On Training Will train themselves
Continuous learning Training creates loyalty
Train them and they will leave
Job changing Potentially more loyal
Changing jobs is a usual routine
Changing jobs is necessary
Changing jobs puts you behind
Work/life balance Not expected All about workplace flexibility
Need balance now Need help with balance
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Your Future is Gen Z
0% 20% 40% 60%
2020
2015
2010
The American Workforce by Generation Baby Boomers Gen X Gen Y Gen Z
By 2020 They Will Be Nearly 10% of The Workforce. Bureau of Labor Statistics, Business and Professional Women’s Foundation
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The Generational Clash Problem
1. Lazy
2. Open-minded
3. Creative
1. Entitled
2. Poor work ethic
3. Easily distracted
Gen X / Boomers About Gen Y
Millennial Branding, PayScale and American Express
Every generation negatively stereotypes the one that follows them.
1. Open-minded
2. New ideas
3. Creative
Gen Y About Gen Z
Gen Z About Gen Y
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The Retention Rate Problem
10 7 5 2
Tenure Rate Across Generations
Silent Generation Baby Boomers Gen X Gen Y
It Costs ~$20,000 to Replace each Gen Y employee. Millennial Branding & Beyond.com
?
Gen Z
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Retention May Improve
Gen Z may be more loyal to companies than Gen Y They expect to work for 4 companies in their lifetime (5 for Gen Y).
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Entrepreneurs On The Rise
Gen Z Is more entrepreneurial than Gen Y More Gen Z (17%) than Gen Y (11%) want to start their own business.
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Their Competitive Advantage
“Every 2 days we create as much information as we did up to 2003.” - Eric Schmidt, Chairman of Google
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Parent Influence
20%
47%
9% 6% 6%
4% 8%
25% 27%
4%
15% 13%
3%
12%
Friends Parents Teachers Co-workers Managers Online experts Other (please specify):
Who influences you the most when you make career-related decisions?
Gen Z Gen Y
Gen Z women are more influenced by their parents then men.
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Co-Worker Influence
People who prefer to work alone
Competitive co-workers
People whose work is their primary interest
People you socialize with after work
People who like to collaborate
Close friends
Colleagues willing to work as hard as you
3%
9%
11%
16%
17%
18%
25%
3%
13%
15%
12%
19%
14%
23%
What type of co-workers would help you do your best work? Gen Y Gen Z
Hire for work ethic!
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54% • Fields of specialty
31% • Genders
28% • Cultural backgrounds
22% • Income levels
18% • Religious beliefs
17% • Ethnic backgrounds
Working With Experts
Gen Z wants to be around people they can learn from.
What types of workplace diversity do would you value most at your future employer:
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The type of work matters most in…
• US • UK • Germany • South Africa • Canada • India • Brazil
The people they work with matters most in…
• Turkey • China • Sweden
Important Workplace Attributes
Gen Z says people with whom they work enable their best work (61%).
36%
27%
65%
65%
27%
38%
29%
47%
29%
69%
62%
27%
34%
24%
The location of the facility/building/office where I work
The size of the work space
The people I work with
The type of work I do
The privacy of the work space
The ability to personalize my work space
The ability to listen to music/wear headphones while working
Which of the following workplace attributes would enable you to do your best work?
Gen Y Gen Z
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Global Results India
• More than twice of Gen Y's prefer to work in an office over Gen Z.
Turkey Turkey they were both
equally interested in an office environment.
Work Environments
28% 27%
19%
26%
45%
26%
13% 16%
Corporate Office Coworking space Home office No preference
In which of the following types of work environments would you best collaborate?
Gen Z Gen Y
Corporate offices are not as appealing to Gen Z.
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Social Media Choices
YouTube
Tumblr
Google+
Snapchat
Tinder
64%
15%
14%
8%
8%
7%
4%
3%
2%
1%
0%
76%
9%
9%
1%
10%
4%
0%
3%
2%
5%
0%
Gen Y Gen Z
Personal Time
Google+
YouTube
Snapchat
Tumblr
Tinder
63%
16%
14%
13%
8%
4%
4%
2%
2%
1%
0%
68%
19%
11%
8%
3%
1%
0%
12%
3%
2%
1%
Work Time
Facebook is the dominant social network globally.
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Hold regular meetings
Give them flexibility
Encourage remote workers to be at the office
Gen Z Communication
Gen Z’s actually prefer in-person communication over tech.
11%
8%
6%
50%
16%
9%
Which is the most effective way to communicate with your future manager and/or co-workers?
Instant messaging
Social networking
Video conferencing (Skype)
In person
Phone
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Make sure they are doing work that aligns with their strengths.
Hire for cultural fit.
Put the right people together to collaborate on projects.
What Inspires Their Creativity?
The actual work that I do.
The people I surround myself
with.
I'm naturally creative.
The company that I work for.
The location where I work.
I'm never inspired to be creative at work.
40%
25%
14% 13%
6%
1%
35%
30%
11% 13%
7% 5%
What would inspire you to be creative at your future employer?
Gen Z Gen Y
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Give Gen Z Access To Tech
37%
24%
20%
14%
5%
How can technology best support your future job?
Allows me to get answers to my questions faster
Helps me develop my skills
Let's me collaborate on projects more effectively
Enhances personal relationships with co-workers
Gives me a channel to express myself
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South Africa Tech helps
them collaborate
China/India Tech helps
them develop their skills
The Use of Tech at Work
Enhances personal relationships with co-
workers
Allows me to get answers to my
questions faster
Helps me develop my skills
Gives me a channel to express myself
Let's me collaborate on projects more
effectively
13%
37%
24%
5%
20%
14%
44%
21%
5%
15%
How can technology best support your future job? Gen Z Gen Y
Tech helps Gen Z get answers to their questions faster.
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Gen Z 1. Honesty
2. Vision
3. Communicati
on
Leadership Qualities
What do you believe is the most important quality of a leader?
Men rank “honesty” higher
than women.
Women rank “confidence”
higher than men.
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Employment Benefits
16% 15%
14% 14%
12% 11%
6%
4% 4%
2% 1%
19%
11%
18%
14%
12% 13%
5%
2% 4%
2% 1%
What is the most important employee benefit that you expect from your employer? Gen Z Gen Y
Gen Z says healthcare coverage is the #1 employee benefit.
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Gen Z Gen Y Opportunities for advancement 34% 30% More money 27% 38% Meaningful work 23% 15% A good boss 7% 7% Fast growing company 6% 6% Nothing, I'm currently happy with my job and career path here 1% 2%
Nothing, I'm currently looking for another job 1% 1%
Gen Z Employment Motivation What incentive would motivate you to work harder and stay at your future employer longer?
Gen Y used to choose meaningful work first and now it’s money!
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40% of Gen Z’s feel that it's very or extremely important that their company has a wellness program.
Elements of a wellness program include: Health screenings Gym Incentives for being healthy Walking/standing desks
Benefits to companies: Tax credits A company gains an average of $5.81 for every
dollar invested in health management programs.
Reduces health care costs by 26%. Reduces sick-leave absenteeism by 26.8%.
Wellness Programs
Employers plan to spend $594/employee on programs in 2014 (up 15% from 2013).
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Case Study: Johnson & Johnson
What they do? • HealthMedia® - a web-based program • 28 on-site fitness centers • Reimbursement for exercise expenditures • Pedometer program • Seasonal fitness challenges • Healthy cafeteria choices
Benefits • Employer branding • Retention
Results: • Saved $250 million on health care costs over the past
decade. • An ROI of $2.71 for every dollar spent.
http://hbr.org/2010/12/whats-the-hard-return-on-employee-wellness-programs/ar/6 https://www.jnj.com/sites/default/files/pdf/healthy-people-20130328.pdf
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Microsoft • 65% of employees raise money
by participating in 300+ activities including a 5k run and an online auction.
Sprint • Employees collected over
650,000 meals for people in local communities for the 2013 Feed the Need campaign.
Jet Blue
• 1,900 crewmembers and volunteers have donated their time to plant over 1,200 trees.
Community Support
38% of Gen Z’s want their employer to give back to the community.
11%
19%
14%
20%
28%
7%
1%
What is the most impactful way that your future employer can support the
community?
Donate money
Starting a fundraising event for a charity
Reward employees for doing community service
Community recycling or another way of benefiting the environment
Creating new jobs locally
Allot for employee volunteer days
Other (please specify):
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Volunteering Is Important
Millennial Branding & Internships.com
Gen Z Gen Y
Extremely Interested 42% 34%
Very Interested 35% 29%
Somewhat Interested 16% 26%
Slightly Interested 6% 8%
Not at all Interested 1% 4%
What is your interest in volunteering to gain work experience?
77% 63%
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What did they do? • EY Connect Day - a day of
community service for employees
Benefits • Appeals to Gen Y/Z employees who
want to give back
• Encourages community building
Results • 61,500 volunteer hours in 2012
• 48,500 participants in 2011
Case Study: Ernst & Young LLP
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Indian’s Online
courses
African American’s Mentoring
Hispanics Cross-
functional projects
How Gen Z Learns
Mentoring / executive sponsorship
Corporate sponsored classes
Cross-functional projects Online courses Rotational programs
25%
14%
37%
10%
14%
18% 20%
34%
14% 14%
What type of learning and development program would be most beneficial to your success at your company?
Gen Z Gen Y
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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.
Case Study: Intel
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50% of employers are either currently accepting applications from high school students for internships or plan to this year.
50% of high school students are participating in internships for the purpose of advancing themselves professionally in high school.
High School Internships
Millennial Branding & Internships.com Study
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Who is putting pressure on you to gain professional experience in high school?
Why Are Students Participating?
Are your parents or family members helping you get work experience during high school?
Gen Z Parents 55% Colleges 39% Economy 42% Teachers 30% Administrators 9% Other 25%
46%
54%
Yes No
Millennial Branding & Internships.com Study
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What They Want
Gen Z Gen Y
Learning experience 92% 85%
Work experience 81% 89%
Guidance on selecting a college major 40% 12%
Mentoring 72% 63%
Job offers 57% 72%
Compensation 41% 48%
Experience to include in college applications 60% 18%
What are you looking to get out of an internship?
Millennial Branding & Internships.com Study
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What types of projects and assignments do your high school interns participate in?
High School Internships: Projects
Millennial Branding & Internships.com Study
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If a high school student has gone through your program, how likely are they to later land a college internship with your company?
If a high school student has gone through your program, how likely are
they to eventually land a full-time job with your company?
High School Internships: Hiring
Millennial Branding & Internships.com Study
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Case Study: Deloitte What they do?
• “Virtual Team Challenge” – teaching high school students about accounting
• “Talent Scouts” – Assigned to talent freshmen for 3 years • “Next Gen Conference” – career advice and mentoring for
freshman • “Rotational program” – for sophomores • Employees volunteer at high schools for goodwill • “Local Labs” – in middle schools for STEM • “Alternative Spring Break” – fresh/sophs do volunteering
for a week with employees
Benefits: • Close talent/skills gap • Employer branding
Results:
• Virtual Team Challenge - Since 2007, 52,000 students participated from more than 400 high schools.
• 2,500 students in pipeline in 2014 (up from a handful in 2011).
• Alternative Spring Break with 80 to 100 students in 2014, receiving 700 applications.
“To get the best students, you have to engage with them early.”
- Diane Borhani
Director, Talent Best Practices and Innovation at Deloitte
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1. Connect with them before their job search
2. Cater to their entrepreneurial ambitions
3. Offer mentoring and cross-functional projects
4. Allow them to work with tech and have flexibility
5. Create volunteering and wellness programs
6. Develop a culture of transparency
Key Takeaways
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Hours won’t be confined to 9-5
Technology will be embraced at all levels
Projects and people > location
Career paths will be defined earlier
Hierarchies will flatten
Gen Z’s Future of Work
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Your Future is Gen Z
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Questions & Answers
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