making it stick -engaging your millennial workforce

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Making it Stick: Engaging Your Multigenerational Workforce Shira Harrington Founder & President, Purposeful Hire

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Page 1: Making it stick -engaging your millennial workforce

Making it Stick:Engaging Your Multigenerational Workforce

Shira HarringtonFounder & President, Purposeful Hire

Page 2: Making it stick -engaging your millennial workforce

The High Cost of Employee Turnover

1.5 – 3xs Employee’s Salary

Recruitment Loss of institutional knowledgeTraining of new hireLoss of member relationshipsImpact on morale

Page 3: Making it stick -engaging your millennial workforce

Employee Disengagement is Rising

72%US employees who are disengaged

or actively disengaged

Page 4: Making it stick -engaging your millennial workforce

Employee Loyalty is Non-existent

• Rampant downsizings for last two decades• Absence of defined benefit plans• Focus on work-life balance• Maslow’s hierarchy: “self-actualization”• Gallup: “People join companies but leave managers”• Increased options for entrepreneurship

Page 5: Making it stick -engaging your millennial workforce

High Turnover of Millennials

18 monthsAverage tenure of Millennials

(and declining)

They are paid volunteers!

Page 6: Making it stick -engaging your millennial workforce

Traditional Longevity Based on Tenure

4 Years tenure

10 years tenure

Until retirement

Start date

BUT it’s socially unacceptable for Millennials to stay in their jobs for longer than 2 years

Page 7: Making it stick -engaging your millennial workforce

Millennial segment grows as Boomers start to retire

75% by 2025

50% by 202035

% in 201

5

Page 8: Making it stick -engaging your millennial workforce
Page 9: Making it stick -engaging your millennial workforce

Generational Work Values

Page 10: Making it stick -engaging your millennial workforce

• Hard work• Sacrifice• Respect for authority• Following the rules• Frugality• Military focus• God and country

Traditionalist Values

Page 11: Making it stick -engaging your millennial workforce

• Anything is possible• Live to work• Pay your dues• Face time• Career-focused• Competitive• Long-tenured jobs• Women in leadership• Diversity / Civil rights

Baby Boomer Values

Page 12: Making it stick -engaging your millennial workforce

• Independence• Self-reliance• Cynicism• Questions authority• Entrepreneurism• Work to live• Work-life balance

Generation X Values

Page 13: Making it stick -engaging your millennial workforce

• Achievement• Diversity• Extreme fun• Highly tolerant of others• Sociability | Team focused• Members of global community• Tech dependent• Now!• Optimism• Street smarts• Mission driven

Millennial Values

Page 14: Making it stick -engaging your millennial workforce

Communication StylesBo

omer

s • Diplomatic • In person• Present

Options• Consensus

Gene

ratio

n X • Direct• Email• Sound

bites• Present

facts

Mill

enni

als • Polite

• Positive• Texting• Consensus• Don’t talk

down to them

Page 15: Making it stick -engaging your millennial workforce

Rewards and RecognitionBoomers Generation X Millennials

Financial Rewards Time Off Meaningful Work

Public Recognition & Praise Don’t like Public Recognition

Personal and Team Recognition

Title Recognition Freedom to Get Results Title Recognition

Letter of Appreciation Constructive Feedback Mentoring / Coaching

Appreciation for Hard Work Hands Off Supervision Frequent Communication

Work-Life Balance Work-Life Balance Work-Life Integration

Page 16: Making it stick -engaging your millennial workforce

Cross Generational Employee Engagement Factors

Perceptions of job importance Being Kept in the Loop

Clarity of job expectations Career advancement opportunities

Regular feedback and dialogue with superiors Quality of working relationships

Inspirational leadershipEffective Internal Employee Communications

Rewards and Recognition

Page 17: Making it stick -engaging your millennial workforce

What Millennials Want

Page 18: Making it stick -engaging your millennial workforce

Rethinking Performance Evaluations

Performance Evaluation

• Past-Based (Superior/Subordinate)

Performance Coaching

• Future-Based (Athletic Coaching)

Page 19: Making it stick -engaging your millennial workforce
Page 20: Making it stick -engaging your millennial workforce

20

High Motivation

High Skill Low Skill

Low Motivation

“Passiontivity” ExerciseAligning Skills with Career Motivators

(High Engagement) (Professional Development)

(Stop – Gap) (Disengagement)

Page 21: Making it stick -engaging your millennial workforce

How Can You Increase Millennial Engagement at your organization?

1. Create a Millennial (or cross generational) taskforce2. Expand frequency of new career titles3. Give them stretch assignments 4. Allow them to work more collaboratively5. Offer more flexible scheduling options6. Launch community service initiatives7. Create a mentoring program8. Invite them to executive or board events9. Move to performance coaching, “quick hit” feedback10. Make things fun!!

Page 22: Making it stick -engaging your millennial workforce

Roundtable Discussion

What is ONE actionable take-awayyou can employ in your organization

to start increasing engagement?

Page 23: Making it stick -engaging your millennial workforce

Questions?

Shira HarringtonFounder & PresidentPurposeful Hire, Inc.

[email protected]

www.purposefulhire.com