Millennials and their work patterns How technology and social media are changing the way we work

8 November, 2013

PwC

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delivery

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HR professionals*

PwC HRS in CEE : • 16 Partners • 325 Experts

* Survey was conducted by Meridian West between October 2012 and January 2013; sample of 1,472 senior HR executives in 17 countries.

Agenda

1. Millennials at work

2. Adapting working patterns

PwC

Three generations encompass today’s workforce…

Baby boomers X Millennials (Y & Z)

Born 1940 – 1960 Born 1980 – 2000 (Y) (After 2000 – Z)

Born 1960 – 1980

Characteristics: Own 80% of the world’s companies; control 50% of the investments in the world companies

Characteristics: Independence, perseverance, adaptability

Characteristics: Team oriented, collaboration focused, multitasking; prefer technology and web over oral communication

29% of workforce

51% of workforce

20% of workforce

53- 73 33 - 52

32 > Age today

Age today

Age today

PwC

Each generation has unique needs and expectations that a company needs to meet and balance

Baby Boomers Generation X Millennials

3 2

Use of social media & technology

Work ethic and loyalty

1 Employment expectations

• Work their way up the ladder and value hierarchy

• Money comes with hard works, long hours and commitment

• Don’t welcome work flexibility

• Value freedom and responsibility • Ambitious and eager to learn new skills • Want frequent trainings, relevant for their

career, not just current job • Value technology-based instructions • Don’t like working in teams as much

• Not shy, expect opinions to be heard • Driven less by money and more by

accomplishment and finding value in what they do

• Learning-oriented and want to know if doing something wrong

• Expect an open door policy

• Working longer, retiring later • Loyal to the companies they work for • Like to be praised

• Value flexibility and work-from home • Hand-off attitude works best when

managing or working with this generation • Supreme sceptics and cynics • Value authenticity and want autonomy to

achieve goals • Can’t expect blind loyalty

• Need detailed instructions on what’s required of them – but they need to decide how to get there

• Should be told what’s the value of the task • Curious and eager to learn • Generally loyal – as long as their needs are

met

• Low engagement • Ccontent consumers • Not content creators

• Prefer well tested and familiar tools (email, chat)

• Do not explore all aspects of social media

• Clever with web- and mobile technology • Quick adaptors of new technology • Comfortable with the collaboration and

communication aspects of social media

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Millennials expect a number of differences between their careers and those of previous generations*

“I expect there will be a greater degree of flexibility in the careers of this

generations with opportunities to work from home/outside locations and a

greater degree of flexibility with regard to working hours.”

“I believe my generation will be more exposed to other

countries. Globalisation will only increase for us. I think we

will need to be up to date on technology and constantly be

educating ourselves to keep up with the rest of the world.”

“I believe that younger generations will change careers at least once

and try a variety of different roles. There will be less long term

commitment to organisations.”

“I think our generation will continue to conduct business in more global settings and we will utilise different forms of technology to communicate

across boarders and capitalise on market efficiencies in other

countries.”

What do you expect the main difference will be, if any, between your career and those of previous generations?

“Because of technology, it is getting harder and harder to "disconnect" for any period

of time. As a result, I will work longer, more varied hours. Even on vacation.”

* Results from PwC Millennials at Work survey

PwC

A substantial proportion of Millennials use social media for work

8%

25%

22%

29%

16%

I openly share the details of my life via social media

Strongly agree

Agree

Neither

Disagree

Strongly disagree

42% 25% 32% Total

I do/ will make use of social media whilst at work

Agree Neither Disagree

* Results from PwC Millennials at Work survey

24%

41%

23%

10%

2%

Rigid hierarchies and outdated management styles do not get the most out of younger

recruits

Strongly agree

Agree

Neither

Disagree

Strongly disagree

46%

24%

0%

10%

20%

30%

40%

50%

Agree Disagree

Senior management of an older generation cannot always understand the way I use technology in my work

Agenda

1. Millennials at work

2. Adapting working patterns

PwC

PwC employs knowledge workers and grows through yearly graduate recruitment

9

…constantly sharing expertise

…relying on innovations & technology

…part of a global community

…serving global clients

• Average employee age is 31 • Employees below 30 are 51% • Employees born after 1980 are 65% • Every year we employ approximately

10-15% graduates out of total

workforce

Our knowledge workers are…

PwC

Moreover, research shows huge potential for productivity increase*

10

>1.5 bln …and predictions

Number of social networking users globally

70% Proportion of companies are using social technologies

25 hours

Time each week spent by knowledge workers

writing e-mails, searching for info, and

collaborating internally

Some facts… $900 bln – 1.3 trl Annual value that could be unlocked

by social technologies

2x Potential value from better enterprise communication and collaboration compared with other social technology benefits

20-25 % Potential improvement possible in knowledge worker productivity

*Source: The social economy: Unlocking value and productivity through social technologies, McKinsey & Company, Nov. 2012

PwC

eLearning

Knowledge management

Internal social network

We have adapted learning and working practices to fit workforce demands and business needs

2004-2005

2007-2008

2011-2012

PwC

Our own “Facebook”: Why we needed it?

Objectives ① Make a large firm feel small

② Bring silos together

③ Engage internal stakeholders

better

④ Create fresh insights through an open and faster exchange of expertise and ideas

⑤ Extend social reach outside PwC

Business drivers Growth & delivering value: Channel the power of the PwC network in to the most significant issues facing our clients.

People engagement: Engage with our people in a way that resonates with their modern expectations of communication and collaboration. Client engagement: Form forums, discussion groups and eventually collaborate with external parties including clients, alumni and regulators, bringing the whole of PwC closer to our clients and communities.

Vision – 3 C’s Connect: Connect and communicate with colleagues easily, instantly and securely, to build strong relationships. Collaborate: Share ideas, insights and interests with colleagues in quicker and more intuitive ways, to work faster, smarter and better. Create: Use these connections and collective knowledge to create new ideas, content, value for me and my clients. So I can make a bigger impact.

PwC

What we needed it to be?

What it isn’t

Selling another “tool” to replace or improve upon an existing one

A marketing campaign designed to mandate rapid adoption and integration

High profile “big bang” event-driven initiative

What it is

New collaborative way of doing business more effectively and globally

A communications platform designed to enable, support and equip our people

Low-key “viral” start of a journey

What it does

A gateway to:

• places (communities of interest),

• people (relationships), and

• content (tacit and explicit)

PwC

How we did it?

Sprint 1 Requirements / funding

Sprint 2 RFI to vendors

Sprint 3 Vendor selection

Sprint 4 Contracting

Sprint 5 Design & test

Sprint 6 Creating awareness

Sprint 7 Creating value

Start small, think big Experiment internally first. Be flexible, listen, learn, adapt and iterate quickly.

Test and measure the impact Establish ‘Formal’ Wave 1 groups to test and validate ideas and measure the impact

• Go where the energy is, where there is clear sponsorship by a leader and a passion to drive forward.

• Avoiding “over control” in the design – a platform for the people.

• This is an iterative process – listen, learn & iterate

• Informal groups will bubble up and their feedback should be valued.

The 7 sprints The waves The energy The SPARK

PwC

How it looks?

Spark – Profile homepage Sametime

status

Upload you CV and core

competencies

Followers and following more prominent and

personal

“Followers in common”

highlights the importance of our personal

networks

Spark – Group page

Related groups

Discussions and

publications

Group members

PwC

How we made it work? Risks and principles

Look after us

Be valuable

Be yourself

Play nice

Give credit

Make it your own

Share with care

Pause to think

Stay focused

Be smart

IT system challenges

Concerns over visibility into sensitive information

Regulatory requirements

Client confidential information

Data privacy

IT security

Technology solutions & IT involvement

Messaging & training

Outreach team

Peer review

Alternatives

Territory options

Risk Management principles

Our response Our key challenges

PwC

What impact we have achieved? Results of Spark adoption efforts after one year from go-live

Over 100,000 in past 90 days!

Over 15,000 daily!

PwC

What business value we expect?

TIME

Value to Business HIGH

+ 12 months 6 months

LOW

CLIENT TEAMS More effective team working/improving client service

BUSINESS DEVELOPMENT Increasing speed, reach & quality

MARKETS/LOS Gaining insights into topical issues

ONBOARDING Plugging people into the network

PEOPLE Increasing people engagement

INNOVATION Sharing ideas & creating value

Thank you!

Local PwC team:

Paul Tobin Partner, Tax 9-11 Maria Louisa Blvd. 1000 Sofia, Bulgaria Tel: + 359 2 9355116 Paul.tobin@bg.pwc.com

Zhivka Petkova HR Consultant 9-11 Maria Louisa Blvd. 1000 Sofia, Bulgaria Tel: + 359 2 9355330 Zhivka.y.petkova@bg.pwc.com