CONFIDENTIAL

Millennials are here to stay! Generation Y in the workforce today

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…of the workforce are Millennials

50%

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What’s the difference?

vs.

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Everything!

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Millennials grew up in a

tech-savvy world with

everything at their fingertips.

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Life Online

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Constant Communication

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Social Networks

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Virtual Rewards

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We want recognition more than money

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Management methods need to adapt Time for a change

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“Meaning is the new money.”

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“Am I continuing to learn & grow?” What motivates millennials:

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1 Social collaboration

2 Ongoing feedback

3 Public recognition

We learn and grown through:

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“Ditch the org chart... build an influence chart.”

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What can you do for Gen Y? 4 ideas…

1. Get rid of the performance review

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“Get Rid of the Performance Review! It destroys morale, kills teamwork and hurts the bottom line.”

Traditional performance reviews don’t help us motivate or learn

“The performance review should be replaced by daily ongoing contact with managers who know the work and who can become coaches.”

2. Be a coach

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Employees want frequent ongoing coaching

3. Give public recognition

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It motivates and amplifies learning

Praise from managers, leadership attention, and project leadership are more effective motivators than financial incentives.

4. Ongoing feedback

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Difficult answers are the best insights

“One tool that can satisfy the thirst for guidance with minimal resources is microfeedback. Think of it as performance assessment for Twitterholics—succinct and nearly real time.”

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Summary 1. Millennials are growing up quickly and

account for almost half the workforce today.

2. We want recognition more than money

3. Time for a change

4. We are here to stay

Some links to check out

Mentoring Millennials http://hbr.org/2010/05/mentoring-millennials/ar/1

Millennials: a New Generation in the Workforce http://findarticles.com/p/articles/mi_m0FXS/is_3_80/ai_71836857/

Let’s get personal: 3 reasons why performance reviews don’t work http://blog.rypple.com/2010/08/lets-get-personal-3-reasons-why-performance-

reviews-dont-work/

Yes, Everyone Really Does Hate Performance Reviews http://online.wsj.com/article/SB127093422486175363.html

Motivating people: Getting beyond money http://www.mckinseyquarterly.com/Organization/Talent/

Motivating_people_Getting_beyond_money_2460

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"This is a generation to be reckoned with. They are going to overtake the country.”

David Spangler Director of Market Research, Levi’s Jeans