@ Mastering the Millennial Mindset and Beyond How to Attract and Retain Emerging Leaders
Lisa Ryan Cleveland Where are you from originally?
Would you be surprised to know…
Social Dis istancing
Who said it? (chat box guesses) “The children now love luxury. They have bad manners, contempt for authority; they show disrespect for elders and love chatter in place of exercise.” Socrates - ~ 432 BC
Generations Defined • Traditionalists – Born before 1945 • Baby Boomers – 1946 – 1964 • Generation X – 1965 – 1980 • Millennials – 1981 – 1995 • Gen Z – 1996 to 2012
Sign of the Times
You may be wondering…
• 44 million Boomers still working Key • 10,000 Boomers retire every day Demographic • From 2017 - 2027, shortage of 8.2 million workers Shifts • Labor force participation 62.8% - lowest since 70’s
How does each generation differ? • Family structure and influence • Education • “Work ethic” • Preferred Leadership Style • Communication preferences • Feedback • Work/life balance (hours, place) • Technology
Kid ids – old lder versus younger dif ifferences
Millennials Gen Z • 73 million strong • Largest generation in history • 9/11 was defining moment • No memory of 9/11 • Grew up with dial-up internet • Mobile-tech natives • High student debt impacts lives • Wary of debt – frugal • Multitasking pros • Multitasking aficionados
Millennials Gen Z • Purpose over paycheck • Money and job security • Rewarding experience • Personal development • Mentors / honest leaders • Coaches – not bosses • No annual assessment – feedback • No annual reviews – • Give them tools to win ongoing • Very competitive - independent • Develop strengths, don’t fix weaknesses • Collaboration - teamwork
Traits of Gen Z • 24.3% of the US population • Stable employment • Never used a corded phone • Individual tasks • Never knew life without www. • Independence / not isolation • Ethnically/racially diverse • Work/life balance, flex hours, perks • Prioritize financial security (FIRE) • Inclusion / diversity • Prefer industries they interact • Expect personalization / custom with
Training Gen Z • Make everything mobile • Include searchable video • Incorporate experiential learning • Encourage informal social learning
“Gift” of COVID? What are you doing now in your workplace that you may not be doing it it wasn’t for COVID? (Chat)
Get Your Text Goodies “engage” Here! to 66866
Why Does Retaining Millennials / Gen Z Matter? Largest generations to date 73+ million strong (each) – versus 75 million Baby Boomers 2. Job hopping is normal 21% changed jobs last year • 3 times higher than previous • 60% open to new opps • 3. Turnover Is Expensive Costs the US economy: $30.5 billion annually
How to Attract Talent Communicate exciting possibilities. • Share compelling career pathways • Provide attainable skills needed. Keep expectations realistic. • Open more jobs to people with less education. • Invest in workforce and education programs. Be willing to pay.
How to “fix” it • Traditionalists • Boomers • Gen X • Millennials • Gen Z
Collaboration • Career advancement • Financial stability • What Can You Do? Technology • Management training • Work/Life balance •
Questions and A- ha’s
One Thin ing You Are Goin ing to Do Commit via Chat
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THANK YOU @Grategy MyGrategy AskLisaRyan Website: Phone : Email : LisaRyanSpeaks.com 216-359-1134 Lisa@Grategy.com
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