Maximzing Millennials: The Who, How, and Why of Managing Gen Y

maximizing millennials the who, how and why of managing gen y who are millennials? 80 by 2014, by 2020, million 46% of all U.S. young adults born between 1976 and 2001. 36% of the U.S. workforce will be comprised of millennials. workers will be millennials. education attainment 64% Males Females less than high school 15% 15% ask about social media policies during job interviews. 40% high school 34% 24% 28% some college 35% say it would be a key factor in accepting the offer. 4+ yrs of college 20% 15% millennials are the most diverse generation.- MILLENNIALS: 59.8% 14.2% 18.5% 4.3% 3.2% PREVIOUS GENERATIONS: 72.5% 13% 12% 3% 1.5% WHITE OO BLACK OO HISPANIC OO ASIAN OO OTHER generational differences 20-year-olds in 1976 31% 54% 43% 20-year-olds in 2006 17% 40% |33% value a job with more than 2 weeks of vacation as "very value a job that value a job that gives you a chance to make friends as most people look up to and respect as "very important" important" "very important" why does your company need them? -millennials want to learn and grow with you. 22% 52% 65% 52% said opportunities for career progression made an employer 65% said the opportunity for personal development 22% saw training and development as the most valued benefit was the most influential attractive. factor in their current job. from an employer. millennials are tech-savvy multi-taskers. MILLENNIALS PREVIOUS millennials switch their GENERATIONS attention between media platforms like laptops, smartphones, tablets and television 27 times per hour on average - as compared to only 17 times for previous generations. millennials can be a social media megaphone for your company. friends of fans represent a set of consumers 34 times larger than fans themselves. having employees who are more active on Facebook can greatly increase your digital reach. millennials on social media 66% 43% 91% 52% would look up a store after learning make their have over 300 Facebook friends; the top 10% have have liked more Facebook Places and Foursquare check-ins public. their friend had than 20 brands on checked in. Facebook. over 1,000. -millennials are motivated by more than money. -> job factors valued as important 1 in 3 meaningful 30% millennials work high pay 28% said he/she would prioritize social media freedom, device flexibility and work mobility over salary in accepting a job offer. sense of accomplishment → 25% millennials are mobile. 71% of millennials would like to work abroad. millennials want to lead. 92% of surveyed 21-to-24-year-olds felt entrepreneurship education was vital in the new economy and job market. 30% started a business in college. 35% have started a side business. how to keep them at your company organizations will need to recognize the priority millennials place on flexibility and fulfilling social needs at work, while at the same time setting realistic expectations of career paths and advancement opportunities. 43% felt extremely or very confident that they could find another job if they lost or left their current one. 70% of them are planning to change jobs once the economy improves. flatter them this generation prefers on-the-spot recognition to traditional perfor- mance reviews. a whopping 80% of millennials said they would rather receive real-time feedback in addition to frequent check-ins so they can adapt and learn as they move forward. motivate them motivation of millennials will require coupling structured assignments and frequent feedback with opportunities to learn, grow and contribute in meaningful ways. millennials want a work environment that is comfortable and inspires them to contribute without fear of being criticized, such as one that has "pizza party" lunches or offers time off for a job well done. collaborate millennials are natural collaborators, particularly when the group's purpose and goals are understood. employers should be clear about deadlines and any business boundaries the group should be aware of. soucs mashable.com | kenan-flagler.unc.edu thenextweb.com comscore.com | tint.com | pewresearch.org|jom.sagepub.com lyec |buzz marketing group design by francesca greggs & lemonwood design. ILL UNC EC KENAN-FLAGLER BUSINESS SCHOOL #FixYoungAmerica