AHREB_Developing_Millennials

CEBLearning&DevelopmentLeadershipCouncilEffectivelyDevelopingYourMillennialsWebinar23March2015AFrameworkforMemberConversationsThemissionofTheCorporateExecutiveBoardCompany(CEB)anditsaffiliatesistounlockthepotentialoforganizationsandleadersbyadvancingthescienceandpracticeofmanagement.Whenwebringleaderstogether,itiscrucialthatourdiscussionsneitherrestrictcompetitionnorimproperlyshareinsideinformation.Allotherconversationsarewelcomedandencouraged.ConfidentialityandIntellectualPropertyThesematerialshavebeenpreparedbyCEBfortheexclusiveandindividualuseofourmembercompanies.ThesematerialscontainvaluableconfidentialandproprietaryinformationbelongingtoCEB,andtheymaynotbesharedwithanythirdparty(includingindependentcontractorsandconsultants)withoutthepriorapprovalofCEB.CEBretainsanyandallintellectualpropertyrightsinthesematerialsandrequiresretentionofthecopyrightmarkonallpagesreproduced.LegalCaveatCEBisnotabletoguaranteetheaccuracyoftheinformationoranalysiscontainedinthesematerials.Furthermore,CEBisnotengagedinrenderinglegal,accounting,oranyotherprofessionalservices.CEBspecificallydisclaimsliabilityforanydamages,claims,orlossesthatmayarisefroma)anyerrorsoromissionsinthesematerials,whethercausedbyCEBoritssources,orb)relianceuponanyrecommendationmadebyCEB. 3©2015CEB.Allrightsreserved. LDR2033315SYNL&DCONCERNEDWITHINCOMINGMILLENNIALEMPLOYEESTailoringL&DSolutionsforMillennialsIsanImportantPriorityforL&DProfessionalsPercentageofL&DProfessionalsReportingImportanceMorethansixintenL&Dprofessionalsreportthattailoringlearninganddevelopmentsolutionsformillennialsisanimportantpriorityattheirorganization.■Onlyfivepercentofrespondentsreportthattailoringlearningsolutionsformillennialemployeesisunimportant.63%Important5%NeitherImportantNorUnimportant5%Unimportant27%SomewhatImportantn=56.Source:CEBL&DQuickPollApril2014;CEBanalysis.Note:Thequestionwasoriginallyaskedona5-ptLikertscalefrom“UnimportanttoImportant.”However,norespondentsreportedtailoringlearninganddevelopmentsolutionsformillennialpopulationsasbeing“Somewhat Unimportant.” 4©2015CEB.Allrightsreserved. LDR2033315SYNLOTSOFOPINIONSONMILLENNIALSOrganizationsstruggletocutthroughthenegativeopinionsaboutmillennials.■Peopleintheworkplacehavemanyopinionsaboutmillennials’developmentpreferencesandbehaviors,butmostoftheseopinionslacksupportingdata.■Duetothelackofsubstantiveinformation,organizationsstruggletoidentifyhowtheycancustomizedevelopmenttoappealtothemillennialpopulation.“Millennialspreferexperientialandhands-onlearning,inteamsandsocialnetworking.”Source:BrandonHall.“Millennialsareaddictedtoinstantgratification.”Source:Forbes,2013.“Millennialsarejobhoppersandthetrainingiswastedastheytendtoleavequickly.”Source:Forbes,2013.“Youngerpeoplearemoreself-assured.”Source:PsychologyToday,2013.“Theyexpect‘over-coaching’andextensivefeedback.”Source:BrandonHall,2009.“GenYwantsanalmostconstantstreamoffeedback.”Source:Forbes,2012.“YoungerMillennialandGenerationXworkersexpecttrainingandsupporttobeasreadilyandrapidlyaccessibleasaGooglesearch.”Source:Deloitte,2014.“Millennialsarealsoviewedasentitledbyothergenerations;infact,amajorityofthemagreetheyare.”Source:USAToday,2013.“Thisgenerationplacesmuchmoreemphasisontheirpersonalneedsthanonthoseoftheorganization.”Source:PWC,2011.“Millennialswereespeciallynotedforbeingenthusiastic,collaborative,adaptableandentrepreneurialbyothergenerations.”Source:USAToday,2013.“Theydon’tviewmanagersascontentexperts(liketheirpredecessors)becausetheyknowwheretofindmultipleversionsoftheinformation.”Source:UNCKenanFlaglerBusinessSchool,2012.“Theyareapamperedandnurturedgeneration,beingbothhighperformanceandhighmaintenance,withaveryhighsenseof self-worth.”Source:PsychologyToday,2013.“Theparticularcharacteristicsofmillennials—suchastheirambitionanddesiretokeeplearningandmovequicklyupwardsthroughanorganization.”Source:PWC,2011.Source:CEBanalysis.“BabyboomersandGenerationXershavebetterworkethicsandmoralvaluesthanthoseintheir20s.”Source:TheWashingtonPost,2010. 5©2015CEB.Allrightsreserved. LDR2033315SYN1.001.34MILLENNIALSMORELIKELYTOVALUEDEVELOPMENTOPPORTUNITIESDevelopmentOpportunitiesAreKeyInfluencersinMillennials’JobAcceptanceDecisionsPercentageofMillennialsMillennialsAreMoreLikelytoRankDevelopmentOpportunitiesinTopFiveofEVPDifferenceinEmployees(Indexed)Millennialshighlyvaluedevelopmentopportunitiesatwork.■Sixty-fivepercentofmillennialsstatedthattheopportunityforpersonaldevelopmentwasthemostinfluentialfactorinchoosingtheircurrentjob.■Millennialsare34%morelikelytorankdevelopmentasoneofthetopfivemostimportantEVPattributes.65%Source:PwC,“MillennialsatWork:ReshapingtheWorkplace,”2011,∆=34%n=17,971.Source:CEBQ4GlobalLaborMarketSurvey.OtherEmployeesMillennialsDefinition:MillennialEmployeesForthepurposeofthesetrends,weidentifiedallemployeesborninandafter1980aspartofthemillennialgeneration.Weareonlylookingatemployedmillennialsinthisreport.1.00x1.34x 6©2015CEB.Allrightsreserved. LDR2033315SYNSIXTRENDSFORMILL