Millennials aren’t just the rookies to today’s workforce -- they are its future. According to a Deloitte Millennial Survey, Millennials are expected to make up 75% of the global workforce by 2025.
This trend underlines the need for your organization to utilize Millennials as part of your workforce.
In this archived Monster webinar, you’ll learn how Millennials are bringing new attitudes, values and thinking to today’s workplace. Learn how to understand their goals, desires and ambitions to enable your organization to better recruit, onboard and retain Millennial talent.
Read more and download the webinar: http://mnstr.me/1Dhixt7
See the answer to more questions posed during the webinar from Monster's Joanie Courtney: http://mnstr.me/1CEh9G5
Top 10 scenario-based questions for hiring a Team Leader
The Power of Millennials
1. The Power of
Millennials (and the
Data to Back it Up)
PRESENTED BY:
Joanie Courtney
SVP Global Market Insights
Monster Worldwide
June 25, 2015
@joaniecourtney
2. 2
Joanie Courtney is Senior Vice President of Global Market Insights at
Monster Worldwide. Ms. Courtney is responsible for advancing the
company’s customer engagement strategy, utilizing Monster’s
breadth of technology and advertising solutions and driving more
consultative client relationships.
As an employment industry advisor, she is often called upon to
discuss the job market, careers and workplace trends, and the talent
supply and demand cycles that impact U.S. employers. She is
frequently featured as a keynote speaker at industry conferences
and has been featured on media outlets like Fox, Fox Business News,
Associated Press, CNN, U.S. News & World Report, Forbes and more.
Joanie Courtney
3. 3
• Introduction to Millennials
• Millennials in the workforce
• The average Millennial
• What motivates Millennials
at work
• How to retain Millennials as
an employer
• How Monster is helping
Millennials to find better
Agenda
4. 4
Millennials have power in numbers
Source: Bureau of Labor Statistics Employment Projections
31%
21%
45%
Baby Boomers
Generation X
Millennials
2015
Generations in the workplace.
38%
22%
36%
Baby Boomers
Generation X
Millennials
2010
45%
23%
25%
Baby Boomers
Generation X
Millennials
2005
5. 5
• In 2015, Millennials
are aged 18 to 341
• By 2020, Millennials
will make up nearly
50% of the workforce2
Who are Millennials and why should you care?
1http://www.pewsocialtrends.org/2014/03/07/millennials-in-adulthood; 2https://www.pwc.com/en_M1/m1/services/consulting/documents/millennials-at-work.pdf
6. 6
They are the most ethnically diverse generation2
Overview of Millennials
1Brookings.edu “How Millennials Could Upend Wall Street and Corporate America” May 2014; 2Millennials come of age, Experian Marketing Services, 2014;
3http://www.businessinsider.com/what-you-should-know-about-millennials-at-work-2014-11
Other
3%
Asian
7%Black
13%
Hispani
c 22%
White
55%
Millennials
Other
3%
Asian
7%
Black
12%
Hispani
c 18%
White
61%
Generation X
Other
1%
Asian
4%
Black
12%
Hispani
c 10%
White
73%
Baby Boomers
Are the most educated
generation, with 79% holding
a bachelor’s degree.3
7. 7
Only 26% are currently married.1
40% of millennials, ages 25 to 34 are already parents2
81% have donated money, goods or services.3
More than half of all millennials have shared a selfie on social media.4
65% of millennials say losing their phone or computer would have a
greater negative impact on their daily routine than losing their car. 3
Fun Facts
1http://www.huffingtonpost.com/2014/03/11/millennials-marriage-age_n_4944558.html; 2http://adage.com/article/news/millennials/244523/;
3http://danschawbel.com/blog/74-of-the-most-interesting-facts-about-the-millennial-generation/; 4http://www.nbcnews.com/tech/internet/research-confirms-millennials-
love-selfies-n47221
9. 9
Millennials in the Workforce
Source: http://www.elance-odesk.com/millennial-majority-workforce
72%
90%
M
H
Open to Change
66%
87%
M
H
Creative
60%
86%
M
H
Adaptable
75%
80%
M
H
Narcissistic
Qualities seen as more prevalent in Millennials.
65%
73%
M
H
Money Driven
50%
70%
M
H
Optimistic
55%
69%
M
H
Entrepreneurial
46%
68%
M
H
Confident
(H) Hiring Managers’ views / (M) Millennials’ views
10. 10
Area’s where managers’ views of millennial priorities at work are different than
millennials actual priorities.
Priorities at Work
Source: http://www.elance-odesk.com/millennial-majority-workforce
44%
75%
Millennials' actual
priorities
Hiring Managers’ views
of Millennials priorities
Earnings Potential
12%
39%
Millennials' actual
priorities
Hiring Managers’ views
of Millennials priorities
Co-Workers
24%
30%
Millennials' actual
priorities
Hiring Managers’ views
of Millennials priorities
Exciting Work
16%
25%
Millennials' actual
priorities
Hiring Managers’ views
of Millennials priorities
Good Mentor/Manager
11. 11
“Loving what I do” is among the top options for job
desirability, outranking salaries and big bonuses.1
65% said the opportunity for personal development was
the most influential factor in accepting their current job.2
Almost two thirds of Millennials said they would rather
make $40K a year at a job they love than $100K a year at a
job they think is boring.3
What Motivates Millennials
1http://business.time.com/2012/03/29/millennials-vs-baby-boomers-who-would-you-rather-hire; 2http://www.pwc.com/en_M1/m1/services/consulting/documents/
millennials-at-work.pdf; 3Brookings.edu “How Millennials Could Upend Wall Street and Corporate America” May 2014
12. 12
83% want jobs
where their
creativity is
valued1
What Millennials Want
1http://business.time.com/2012/03/29/millennials-vs-baby-boomers-who-would-you-rather-hire; 2Millennials come of age, Experian Marketing Services, 2014;
3http://www.forbes.com/sites/robasghar/2014/01/13/what-millennials-want-in-the-workplace-and-why-you-should-start-giving-it-to-them/
81% want more
flexible work
schedules1
46% express
a desire to
one day own
their own
business2
88% prefer a
collaborative
work-culture
rather than a
competitive
one3
13. 13
Attractive characteristics of
freelance work
• Flexible working times: 66%
• Flexible working place: 56%
• The ability to choose what I
work on/interesting work: 53%
• Control of my own destiny
(being own boss): 44%
• No office politics: 43%
• Control over work load: 43%
Millennials like the flexibility and control of
independent work
Source: http://www.elance-odesk.com/millennial-majority-workforce
14. 14
• 91% expect to stay at a
job for less than three
years1
• 30% plan to leave their
job in the next year2
• 43% said they are open
to offers3
Millennial Retention
1http://www.forbes.com/sites/jeannemeister/2012/08/14/job-hopping-is-the-new-normal-for-millennials-three-ways-to-prevent-a-human-resource-nightmare/
2http://www.scribd.com/doc/211602632/The-Millennial-Compass-The-Millennial-Generation-In-The-Workplace;
3http://www.pwc.com/en_M1/m1/services/consulting/documents/millennials-at-work.pdf
15. • All signs point to job satisfaction
and personal drive.
• If they don’t see your company
providing them with the right
tools to get a head start on their
successful lives, they’ll leave you
for one they believe can.
Why are Millennials hard to retain?
16. 5 Successful Ways to Help Retain Millennials
Empower and Engage:
Give them time to work on personal projects of their choosing
Give Encouragement and Regular Feedback:
Supportive and consistent feedback can help fuel motivation to produce results
Tap Into their Need to Grow and Develop:
Pair young employees with a senior mentor
Develop In-Between Steps and Titles:
Meet their desire for career progression while also providing additional training and experience
Offer More Flexibility:
Offer flexible scheduling, telecommuting options or increased/unlimited vacation time (as long as
performance remains consistent)
17. 17
Monster is committed to
helping Millennials find better
Check out one of our
latest video’s from our
Find Better campaign.
#findbetter
To view more, visit monster.com/findbetter
http://www.monster.com/findbetter