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Digital Workforce - rise of the millenials
The document discusses the significant impact of digital technology on the workplace, emphasizing that the millennial generation, entering the job market in large numbers, will influence future work culture. Key aspects sought by millennials include opportunities for growth, coaching over traditional management styles, and a preference for flexible work arrangements. The document also highlights the shift towards emotional intelligence as a crucial skill in the evolving job landscape.
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Digital Workforce - rise of the millenials
- 1. digital workplaces (the millennialstake over) @cosmicjulie Julie Hawker
- 2. Setting the scene•The world is being transformed by a series of profound technological changes – the second machine age • Digital technology is changing all of our lives, the way we work, our society and our politics • Over the the next 20 years, 35% of jobs will become automated and most jobs don’t yet exist *House of Lords Digital Skills Paper 2015
- 4. But at theother end…Digital impacts on our everyday activities • Public transport • Pay for coffee • Agriculture & farming • Household goods, shopping • Keeping fit • Banking And in every career we choose
- 5. All jobs willhave a digital element
- 8. • “The millennialgeneration, born between 1980 and 2000 now entering employment in vast numbers, will shape the world of work for years to come. • Attracting the best of these millennial workers is critical to the future of your business. Their career aspirations, attitudes about work, and knowledge of new technologies will define the culture of the 21st century workplace”.
- 12.
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- 20. “They don’t wanttrophies, but they want reinforcement” 1. They want to grow - even if that means out-growing your company 2. They want a coach, not a boss - the #1 reason why millennials leave their job – is their boss 3. They don’t want to waste time on the little things - process and systems which waste time or don’t make sense 4. They want balance and democracy - working hours, output-based performance, collaboration - listened to and engaged in business plans
- 21. More EQ …Less IQ “The workplace and workforce are going to change pretty dramatically as we look forward. The entire concept of work is going to become more flexible. The skills needed in the workforce are going to be less about IQ and a little bit more about EQ, because if you think about it, a lot of IQ knowledge is going to be available at our fingertips through hand-held devices and the computer and technologies that we have at our disposal.” Deborah Henretta, Group President, Asia & Global Specialty Channel Procter & Gamble
- 25. World Economic Forum– Future Jobs Report 2016
- 26.
Editor's Notes
- #2 Intro – me, Cosmic, DCBC, ESB Projects – GBGD, Business Boost, CDS – forging ahead with new business support models which put digital at the forefront Coming soon – ERDF business support, SE support, BBO Positive People
- #3 Digital – now a part of everyday lives House of Lords report last year clearly flagged up the challenges which this poses for businesses – skills gap
- #4 When we were little – asked “what do you want to be when you grow up”? Our role models were familiar – fireman, doctor, nurse, policeman, lawyer
- #5 Move forwards to the lives we live today and the way in which businesses operate today – digital is everywhere – and soon will be everything
- #6 In future then – all jobs will have a digital element – even those you consider furthest away from the deployment of digital technologies – farming, creative arts, caring – all are now being brought into the digital world with apps, IOT and new ways of working
- #7 And so for children at school right now – what do their role models look like …… Many jobs and careers of the future will exist purely in digital skills – and not just programming, coding, marketing - more about that in a while …
- #8 “According to the Bureau of Labor Statistics, Millennials will be the largest generation in the workforce by then end of 2015 …. This should not be shocking considering Millennials are quickly becoming the most influential population in our market today as they are graduating from college and reaching their peak employment years”
- #9 PWC report 2106 – pointing directly at the issue of workplaces being reshaped, reorganised and changed by the next generation – And the need for employers to understand this clearly as a part of their recruitment and workforce development plans
- #10 Most young people entering the workplace now will now expect to stay with you as an employer for a long time … in fact they will welcome chance to change employers and build their careers. Many will embrace ‘portfolio’ working as a great way to build their career too – multiple employers
- #11 Employers in the top tech companies are well ahead of the rest of us in this respect – as shown in this graph – Only the bottom four (which are relatively old, conventional IT) – have average age above the ‘millennials’ mark
- #12 41% say they prefer to communicate electronically at work than face to face or even over the telephone Millennials routinely make use of their own technology at work 75% believe that access to technology makes them more effective at work. Technology is often a catalyst for intergenerational conflict in the workplace Millennials feel held back by rigid or outdated working styles 59% said that an employer’s provision of state-of-the art technology was important to them when considering a job, 78% said that access to the technology they like to use makes them more effective at work.
- #13 And for many large employers there is a very specific challenge – one which relates to the broad (and broader) age ranges they now employ – all the way from 16 (apprentices) through to people over retirement age and into their 70s (Gen Yers = Millenials) Millennials say they are comfortable working with older generations and value mentors in particular 38% say that older senior management do not relate to younger workers 34% saying that their personal drive was intimidating to other generations. Almost 50% felt that their managers did not always understand the way they use technology at work.
- #14 And here’s some more evidence about the direct link between millennials and their use and expectations of digital – in both Gen X and Millenials – no.1 distinguishing factor is technology use
- #15 And soon there will be a fifth generation to add into the workforce age range – the post-millennials -Gen2020 at a time when Traditionalists will still be there too Our businesses will have to be brilliant at understanding the issue of a diverse age range in the workplace – but even more so when it comes to the use of digital technologies being deployed. Older workers (traditionalists) can no longer expect to continue a career path without developing new digital skills
- #16 This is an extract from a recent report from Lloyds TSB (UK Business Digital Index 2016) These are the five basic digital skills which it believe every worker should be developing
- #17 And so – as ever – the major challenge for people building and developing businesses – is to build and develop their teams Its just that the nature of teams – and in particular their use of digital technologies – has changed dramatically and so a different attitude and approach will be needed to make those teams a success
- #18 Millennial employees represent the best-educated (the most schooling, highest SAT scores, computer coding taught in school, advanced skills), the most thoughtfully raised cohort in history. They are much more focussed on social responsibility, social outcomes and working in ethical organisations than previous generations, they need a different strategic approach to recruitment and retention they are looking for more in life than “just a job” or a steady climb up the corporate ranks. they want to do something that feels worthwhile they take into account the values of a company when considering a job, and they are motivated by much more than money
- #19 Here are two extracts from the PWC report – from two UK graduates looking for work
- #20 None of their top choices relate to digital specifically – this is a very familiar list ?
- #21 1. They want to grow, even if that means growing out of your company. Can you guess the average tenure of Millennial employees? Two years. In the span of a professional career, two years seems to hardly make dent. In comparison, the average tenure for Gen X employees is five years and seven years for Baby Boomers. One of the primary reasons Millennials are more likely to change jobs is because they are not willing to stick around if they do not believe they are receiving any personal benefit or growth. Millennials embrace a strong entrepreneurial mindset and they are often on the lookout for opportunities that can continue to move them up the ladder, even if that means up and out of their current position. As digital natives, Millennials have grown up in an era where the number of resources they have is almost infinite making them more efficient problem solvers and critical thinkers. In order to keep up with this fast moving generation, don’t slow them down. If you notice your Millennial employees looking for more advanced opportunities give them more challenging work or encourage them to keep moving. Sound crazy? It’s not. If a Millennial employee feels like their bosses are invested in their personal growth they will be more likely to develop a stronger relationship not just with the company but with the people in it. 2. They want a coach, not a boss. Piggy backing off of the previous insight, Millennial employees expect greater accessibility to the leadership in their offices and are looking for more mentorship rather than just direction. Research shows that the number one reason Millennials are likely to leave their current job is because of their boss. Creating an environment where Millennial employees feel supported and valued by the leadership will lead to increased productivity and valuable relationships. That means that employee/employer relationships must extend beyond just the formal annual work review. According to a recent survey conducted by TriNet, a company dedicated to providing HR solutions, 69 percent of Millennials see their company’s review process as flawed. A major reason for this is because of the lack of feedback throughout the year. The survey also found that three out four Millennials feel in dark about their performance and nearly 90 percent would feel more confident if they had ongoing checkins with their bosses. “The more frequent the checkins are, the better,” said Rob Hernandez, Perform Product Manager at Trinet. “The biggest issue with the annual review process is the formality. There is often more emphasis on reflection rather than opportunities for improvement in the future.” 3. They don’t want to waste time on the little things. According to another survey from TriNet, business expense reporting procedures by some companies have caused negative impact on Millennials. This includes their personal finances and ability to take advantage of professional opportunities – leading some Millennials to look for other jobs. Three out of five respondents to the survey reported that they have had problems paying a personal bill because they were waiting for an expense reimbursement from their employer and Millennials are 21 percent more likely than Gen Xers or Baby Boomers to have difficulty paying a personal bill becauworse they were waiting to be reimbursed for business expenses. More than half of employees who responded to the survey also said they have given up the opportunity to attend a conference, training or other professional opportunities because their employer’s reimbursement policy made it too difficult. We already know that professional development is vital to Millennial employment satisfaction. While many employers are willing to invest in expensive growth opportunities, their outdated reimbursement processes could be turning this important benefit from tempting to tedious. It is surprising that any employer should lose Millennial employees due to archaic expense reporting policies when there are inexpensive, reliable and efficient expense reporting tools readily available. The most successful brands with high Millennial retention are adopting a cloudbased app, with a mobile component, that allows them to fully automate the expensereporting process…from anywhere. Expensereporting technology cuts down tremendously on administrative time, reimbursement time, human errors and potentially the loss of valuable Millennial employees. 4. They want balance and democracy. 04/10/2016 Millennials In The Workplace: They Don't Need Trophies But They Want Reinforcement http://www.forbes.com/sites/jefffromm/2015/11/06/millennialsintheworkplacetheydontneedtrophiesbuttheywantreinforcement/print/ 3/3 This article is available online at: http://onforb.es/1kyEalz 2016 Forbes.com LLC™ All Rights Reserved It is no secret that Millennials have inspired a new wave of consumer democracy in our market today. Don’t believe me? Just take a look at some of the fastest growing brands. Uber, GoPro, Airbnb, and more have all built their companies on the idea of consumer equality in regards to accessibility and shared consciousness. For Millennials, there is no reason why these same principles cannot be transitioned into the workplace. Millennials have very much reimagined the 40hour work week with many employers working to provide more benefits and waste less time commuting –a win for both the enlightened company, as well as the employee. An estimated three million Americans work from home and that number is expected to increase 63 percent over the next five years. According to Pew Research Center, “if they were able to make their current job more flexible, 64 percent of Millennials want to occasionally work from home and 66 percent would like to shift their hours.” This is not a result of Millennial laziness. In fact, it is the exact opposite. Millennials base their performance on output rather than time spent on a project. By focusing on number of hours rather than quality of work, employers are setting a standard that can neither be beaten nor lost. Millennial employees are happy to work long hours on the projects that require additional time however, they do not want to sit around the office until 5pm if their work was completed two hours earlier. While keeping these four things is mind is imperative as you start to increase the number of Millennials in your office, the most important thing to remember is that Millennials no longer work for you; they work with you. As the most collaborative and inclusive generation to date, these young adults expect their place of work to embrace the same idealism and values they hold so dear. Creating an environment that aligns with the participation economy will be your biggest opportunity to create a company where Millennials not only want to work, but seek out as a top professional career.
- #22 A very interesting observation – machines will do more and more of the IQ work … therefore we’ll need more workers with EQ……