new top methods of manager engagement - xperthr · 2019. 7. 1. · top methods of manager...

top methods of manager engagement for younger employees.

jim linkchief human resources officer

Randstad North America

agenda.

introduction

your future workforce

megatrends influencing new worker mindsets

new rules for global employer branding and engagement

q&a

© Randstad North America, Inc. 2019 | 2

jim linkchief human resources officer randstad north america.

www.randstadusa.com/workforce360

@JimLinkHR

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http://www.randstadusa.com/workforce360

your future

workforce.||


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source: Forbes

3.6 million baby boomers are set to retire this year.


proportion of the world population more than 60 years old.

source: UN report World Population Aging 1950-2050 © Randstad North America, Inc. 2019 | 6

1950 2000 2050

25%

20%

15%

10%

5%

0%

8% 10%

21%

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make way for gen z.

Gen Z (born 1994 - 2010)

entered the workforce for the

first time in 2016.


your future is gen z.

by 2020 it is projected gen z

will make up 36% of the global workforce.

source: Department of Labor

0%

1%

1%

8%

15%

31%

25%

29%

32%

44%

44%

32%

22%

11%

4%

2030

2025

2015

gen z millennials gen X baby boomer silent


||

sources: Media Kix, 2017; U.S. CensusBureau

globally minded.


gen z population is forecasted

to reach 2.56 billion by 2020,

accounting for 25% of the total

population.

they are at ease with, and have

higher global awareness, via

friends all over the world on

social media.

globally aware.

six of the seven largest economies in the

world are projected to be emerging

economies in 2050 led by China (1st),

India (2nd) and Indonesia (4th).

© Randstad North America, Inc. 2019 | 10source: PwC: The World in 2050

china and india have the largest gen z populations.

source: International Data Base, US Census Bureau

0 50 100 150 200 250 300 350 400

US

Brazil

China

Egypt

Germany

India

Nigeria

Russia

SaudiaArabia

United Kingdom

0-14 15-29


the information technology revolution is complete.

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• Millennials were the transition.

Gen Z is all the way there.

• They’ve never known a world without

instant communication and are poised to

master the possibilities that constant

connectivity provides.

technology is their fifth sense.

53% of 16-22 year olds would rather give up their sense of smell than an essential

tech item (most often a laptop or phone).© Randstad North America, Inc. 2019 | 13

39%in-person

16%email

11%phone

10%instant message

gen z and millennials crave in-person communication and collaboration.

gen z and millennials preferred methods for communicating with co-workers

source: Randstad/Gen Z and Millennials Collide @ Work Study, September 2016 © Randstad North America, Inc. 2019 | 14

they prefer:

• co-workers who work as hard as I do

• co-workers who like to collaborate

•

gen z and millennials value hard work and collaboration.

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the changing racial demographicsare also shaping gen z’s outlook.

Gen Z is the most diverse of any

generation in the U.S. this

generation expects, and believes

in, diversity.

source: Magid Generational Strategies © Randstad North America, Inc. 2019 | 16

macro trends influencing

millennials.|© Randstad North America, Inc. 2019 | 17

raised during an era of economic and employment uncertainty.

• meltdown on Wall Street

• great recession

• stumbling job recovery

|© Randstad North America, Inc. 2019 | 18

millennials are very conscious of global terrorism, but they also have a desire to change the world because of it.


the cost of a college degree has increased 1,120%in the last 35 years.

46% of gen z say their biggest financial concern is student debt.

source: Bloomberg © Randstad North America, Inc. 2019 | 20

|source: Economic Policy Institute, 2016

wages have remained stagnant

since 2000 for young workers.

in 2000, the average hourly wage for workers 17-20 was

$10.93…

but has slipped to

$10.66 in 2016.


source: 2016 Aflac Workforces Report

84%of gen z workers have less than$1,000 on hand to pay out-of-pocket

expenses associated with an

unexpected illness or accident.


millennials have experienced (and been shaped by) these events, too.

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global employer branding & engagement strategies.

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gen z and millennials may not work for you… or anyone else.

source: Randstad/Gen Z and Millennials Collide @ Work Study, September 2016

0% 25% 50% 75% 100%

gen Z

millennials

37%aspire to be a leaderat a company they start/own.

32%


29% of gen z and

25% of millennialsexpect to work at their current company between two and four years.

but those who do work for you will bring more loyalty back to the workplace.

||

source: Randstad Gen Z and Millennials Collide @ Work Study, September 2016 © Randstad North America, Inc. 2019 | 26

51% say “listen to my opinions

and value my ideas.”

top methods of manager engagement

for gen z and millennials.

46% say “mentor me/give

me feedback regularly.”

||


how often do gen z and millennial workers

want feedback from managers?

regularly(i.e., after every project, assignment or task)

daily

weekly annually

19%

3%24%

23%

Annual Performance

Review

R.I.P


performance management.

impact on employee performance.

12%on-going(not once a year) feedback

13%focus forward, not backward

14%include peers, not just manager, feedback

resource: CEB (2012,2014) © Randstad North America, Inc. 2019 | 29

||

HIPO program failure.

resource: CEB analysis

69%of HIPO programs fail to deliver the leadership talent the organization needs when it needs it.


gen z and millennials: have passport, will travel.

only 40% of gen z and 47% of millennials plan to work in only one country during their career/lifetime.

45% of gen z and23% of millennialsplan to work in atleast two countries.


gen z and millennials value diverse workplaces.

“different points of view” and “different fields of specialty” are highly prized by millennials and gen z.

||


have communicative leadership?millennials and gen z will be knocking.

both generations named “communication” as the most

important quality of a leader, followed by "supportiveness"

and "honesty."

||


workplace flexibility:if you build it, they will come.

both generations named “workplace flexibility” as the most important employee benefit.

| 34source: Randstad/Gen Z and Millennials Collide @ Work Study, September 2016 © Randstad North America, Inc. 2019 | 34

if you’re not online, you don’t exist.

the number of twitter users grew to 330 million, sending out 500 million tweets per day!


300 hours of video are uploaded to youtubeevery minute.

if facebook were a country, its population would be greater than that of north america.

8.6 trillion text messages are sent annually.

instagram has 500 million users, who each day give and receive 4.2 billion likes and share 95 million photos and videos.

linkedin adds two new members every second, and there are 40 million students and recent college graduates on the platform.

with more than 400 million snapchat stories created every day, it would take you 10 years to view all of the photos shared on snapchat in the last hour.

||

source: JWT Intelligence 2016

generation stress.

millennials experience more stress and are less able to manage it than any other generation.

58% of gen z is either somewhat or very worried about the future.


||

“stress” was named as the biggest

obstacle that could get in the way of

work performance for both generations

(37% gen z; 39% millennials).

source: Gen Z and Millennials Collide @ Work Study, September 2016

financial and work-life balance stressors play a large role.


||

the business impact of generational stress.

on average, financial stress costs businesses

$5,000 in lost productivity per year.

unscheduled absenteeism costs roughly $3,600 per

year for an hourly worker and $2,650 for salaried.

businesses lose $600 billion a year in workplace

distractions.

work/family conflict contributes to $24 billion a

year in healthcare expenditures for employers.

source: Federal Reserve Study, 2010; Innate Wellness Center; Global Workplace Analytics 4. Forbes © Randstad North America, Inc. 2019 | 38

what incentive would make gen z and millennials work harder and stay with companies longer?


more money.

top two employee benefits expected and desired from employers.

workplace flexibility

provide benefits that help manage stressors for gen z and millennials.

healthcare coverage


meet the technological demands of the digital generations.

what are the top five technologies gen z and

millennial workers would like their employers to

incorporate in the workplace?

27% 41% 26% 20% 18%wearables Social media Virtual reality robotics mooc’s

(massive openonline courses)


it’s good for business, too!

||


gen z and millennials who work for

outperforming companies are much more

likely to want their employer to incorporate

new technologies into the workplace.

outperforming companies

virtual reality 31%

wearables 30%

augmented reality 18%

underperforming companies

virtual reality 13%

wearables 23%

augmented reality 9%

just be sure to implement with care.

84% of gen z and

millennials say…

“technology tools may

distract me from getting

my work done.

||


which distractions do millennials and gen z need help managing?

46%social networking

31%email

17%video conferencing

39%text messaging

27%instant messaging

IM


meet your new management team.

• more than 28% of millennials are

now managers.

• 67% see themselves in management

within the next decade.

source: Parade © Randstad North America, Inc. 2019 | 46

help millennials lead.

education did not prepare them for:

29% 29% 28% 27% 26%


conflict resolution working long hours

negotiating managing other people

managing my time

lack of effective personal and emotional skills are a key contributor.

only 27% of millennials…

• say they are extremely well prepared to work in a team

environment

• rate their personal skills as “very good”

millennials say that corporate politics are the second-biggest factor hindering their work performance.


the situation can worsen when millennials manage older generations.

• 83% of workers have seen millennials

managing gen x and boomers in their offices.

• 45% of boomers and gen x feel that

millennials’ lack of managerial experience could

have a negative impact on a company’s culture.

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source: Future Workplace Study, Dan Schwabel © Randstad North America, Inc. 2019 | 49

key takeaways.

the U.S.is falling behind

in the global race for talent

globalization requires mastery in

talent mobility

new battlefield requires new organizational

warfare; the war for talent is back but

the rules have changed


key takeaways.

the digital natives are restless

collaboration is this decade’s largest sea

change

study your global workforce from a to

gen z


new top methods of manager engagement - xperthr · 2019. 7. 1. · top methods of manager...

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