"Working with Millennials: myths, methods and management" Anne Stevenson

Aim To generate discussion around Gen Y/ Millennials

Millennials Generation of people born between c. 1980 - 2000 By 2025: c. 75% of global workforce This

Research: The positives Millennials Want ethical employers and are themselves ethical 45% chose flexibility over pay Opportunities for progression 57% intend to leave job within 1 – 2 years of joining Good Work-Life Balance Independent: resist micromanagement Interesting work Want feedback and coaching Comfortable with technology and social networks Creative and open-minded Multiculturally aware Confident Collaborative 77% see formal management qualifications as most effective L & D intervention Want to be entrepreneurs and prefer SMEs

Research: The challenges Millennials Lack global mindset Strong sense of entitlement and over-confidence Lack decision-making skills Not great at communication, especially F 2 F Poor sense of self-awareness and confidence Low worth ethic Working life skills poor – understanding what professional means Poor business savvy and understanding client’s point of view

Question Myth? Fact?

Evidence: The easy ones Ethical Progression Formal qualifications Job turnover

Evidence: Multiculturally aware

Evidence: Collaborative

Evidence: Comfortable with IT and Social Networks

What are organisations doing to capitalise on the obvious Question What are organisations doing to capitalise on the obvious strengths of Millennials?

Evidence: Flexibility v pay What do we want/hate/like? What motivates us?

Evidence: Flexibility v pay £ £ £ £ £ £ £

Millennials and housing Only another 8 – 10 years to go…

What are organisations doing to ensure there is Question What are organisations doing to ensure there is no ageism in their reward policies?

Evidence: Lack global mindset 15:1

Evidence: Lacking working-life skills Managing Director please…

Evidence: Poor business savvy “Once upon a time, there was an organisation that was struggling financially…”

Evidence: Entitlement and Over-confidence

and industry be doing to develop the business and professional Question What should education and industry be doing to develop the business and professional skills claimed to be lacking in millennials?

One Worldwide Millennial Generation? Intra-generational gap?

Problems with the research

What they say about themselves It’s not our fault!

Discussion What are organisations doing to capitalise on the obvious strengths of Millennials? What are organisations doing to ensure there is no ageism in their reward policies? What should education and industry be doing to develop the business and professional skills claimed to be lacking in millennials?

Millennials v. Baby Boomers Serve a higher purpose and obligation to society and environment Explore their interests and passions Have flexible working and good work-life balance Teamwork, challenge, new experiences and recognition more important than £££

Millennials v. Baby Boomers Serve a higher purpose and obligation to society and environment Explore their interests and passions Have flexible working and good work-life balance Teamwork, challenge, new experiences and recognition more important than £££

Millennials v. Baby Boomers Management (examples) Serve a higher purpose and obligation to society and environment Intergenerational mentoring; Joint CSR initiatives Explore their interests and passions Sound RTM practices Have flexible working and good work-life balance Rota design/ flexible working Teamwork, challenge, new experiences and recognition more important than £££ Opportunities for collaboration; intergenerational team-working; praise and recognition

References and Bibliography Buchanan, D. A. & Huczynski, A. A., (2017) Organizational Behaviour, 9th Ed. Harlow, England: Pearson. https://www.forbes.com/sites/nickmorrison/2015/06/04/the-four-key-skills-generation-y-is-missing/#4696e7fe1ad4 http://www.bbc.co.uk/news/uk-scotland-41036361 http://www.bbc.co.uk/news/uk-scotland-41113257 Various dissertations and theses written by millennials, about millennials