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Employee Retention: Thriving in a Multi-Generational Era 06.18.2014 ©2014 Volt Information Sciences, Inc. All rights reserved. Proprietary & Confidential

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Employee Retention: Thriving in a Multi-Generational Era

06.18.2014 ©2014 Volt Information Sciences, Inc. All rights reserved. Proprietary & Confidential

Linus Law Branch Manager, Administrative & Industrial

[email protected]

Charles Herchelroath Manager, Training and Development

[email protected]

Introductions 2

The Multi-Generational Workforce

Generation Years Born Age Work Place

%

Traditionalists 1922-1945 69-92 4.2%

Baby Boomers 1946-1965 49-68 38.1%

Generation X 1965-1980 34-49 32.2%

Generation Y /Millennials

1981 – 2000 14-33 25.5%

3

What Traditionalists Think

Baby Boomers

Self-absorbed

Gen Xers

Don’t respect experience

Millenials

Smart & have good manners

4

Traditionalists

Rigid and resistant to change

Gen Xers

Slackers/rude

Millenials

Need too much attention

What Baby Boomers Think 5

What Generation X Think

Traditionalists

Too set in their ways

Boomers

Don’t walk the walk

Millenials

Too self-absorbed

6

What Millenials Think

Traditionalists

Trustworthy and brave

Boomers

Work too much

Gen Xers

Always unhappy

7

When Generations Collide

Three Clash Points

Career goals

Balance

Feedback

8

Career Goals

Identify the career goal for each generation

Parallel careers

Stellar career

Legacy

Portable career

9

Balance

Identify the work/life balance preferences for each generation

Give me balance now, not when I’m 65

Support me in shifting the balance

Help me balance everyone else & find meaning myself

Work isn’t everything, flexibility to balance my activities

10

Feedback

Identify the preferred feedback method for each generation

Sorry to interrupt, but how am I doing

Once a year, with lots of documentation

No news is good news

Feedback whenever I want it, at the push of a button

11

The Future Workforce,

The Current Dilemma

Millennials will make up 75% of the workforce by 2025

91% of Millenials expect to stay in a job 3 years or less

12

Millennial Retention Strategies

Career Goals – Build Parallel Careers

13

Millennial Retention Strategies

Feedback - Whenever I want it, at the push

of a button

14

Millennial Retention Strategies

Balance - Work isn’t everything, flexibility to balance my activities is

15

Thank You