generations 2
TRANSCRIPT
10.15.2014 ©2014 Volt Information Sciences, Inc. All rights reserved. Proprietary & Confidential
Multi-Generational Workforce: Mentoring Millennials
Linus Law Branch Manager, Administrative & Industrial
Charles Herchelroath Manager, Training and Development
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
Millennials want…
From their boss From their company
Guidance Investment
Feedback Strong Values
Mentorship Flexible Benefits
Formal Development Balance
Flexibility Career Path
4
What do they want… 5
30%
formalized mentorship programs
69%
hands on guidance from their supervisor
74%
supervisor to set specific short-term goals
59%
invest in them long-term
The Future Workforce,
The Current Dilemma
Millennials will make up 75% of the workforce by 2025
91% of Millennials expect to stay in a job 3 years or less
6
Millennials are…
Entitled Narcissists
OR
Innovative World Changers
7
Characteristics
Connected
Learners
Contributor
Collaborative
Feedback
Scheduled
Achievers
8
Socially Conscious
Work-Life Balance
Multi-Taskers
Entitled
Return on Investment
Company A
23% higher retention rate amongst mentees
20% higher retention rate amongst mentors
$6.7 million estimated savings
10
Company B
$1.00 invested = $2.28 back in increased retention and productivity
Mentorship Strategies
Micro-feedback
Provide succinct feedback in near real time
Reverse Mentoring
Match entry-level employee to a senior-level executive
Anonymous Mentoring
Anonymity ensures that ideas and issues are more freely shared
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Mentorship Strategies
Online Group Mentoring
Collaboration tools used to connect a single mentor to multiple employees
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Best Practices
Establish a relationship based on frequent and open communication
Formal meetings should occur on a regular basis (monthly)
Mentorship should last for at least the first 90 days
Intentionally match mentees to mentors
Train your mentors
Make it standard
Measure
13
Thank You