roi on roi on generation y generation y · generation y amy lynch nashville, tn 615.944.6140...
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![Page 1: ROI on ROI on Generation Y Generation Y · Generation Y Amy Lynch Nashville, TN 615.944.6140 amy@GenerationYexpert.com. Title: Slide 1 Author: amy lynch Created Date: 4/25/2011 1:34:13](https://reader034.vdocuments.mx/reader034/viewer/2022050422/5f911bb677ec6a765a76c368/html5/thumbnails/1.jpg)
ROI on Generation YROI on Generation Y
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1. Turnover Costs
2. Communication Costs
3. ROI on Gen Y
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BabyBoomers
Gen Y
35 million
80 million
35 million
Gen XBuilders40 million
67+ 45 – 67 32 – 44 24 – 31 16 - 23
Gen Z40 million
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2008 = 24%
2014 = 32%
2020 = 46%
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- Underemployed
- 29 job changes, 8 careers
1.1 years
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Job Hopping
Deloitte: Not end in itself
GEN Y = 8.3 significant career events
Gen X = 5.5 survey by The Guardian 2011
2/3 $150,000
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What’s happening
now?
The Clog
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Builders, Baby Boomers
X
Y, Z
Not retiring.
Prince Charles
20% switched cos. 35% lateral.
when economy improves 51% job interview
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44%67%
- Longer hours- Co-workers more help
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Turnover Costs▪ Recruiting, Training
▪ Productivity, individual & team morale
▪ Separation
▪ Customer satisfaction & engagement
▪ Employer branding
▪ Knowledge sharing
▪ Strategy, planning
▪ Lost opportunities for growth
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Worksheet
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Gigs, Temporary Jobs• Driving job growth right now
• Provides trial period for both parties
• Side by side, different pay, 2-class system, less effort
• Turnover
• Absenteeism (15-20% month)
• Training, retraining
• All other losses on worksheet
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1. Turnover Costs
2. Communication Costs
3. ROI on Gen Y
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Lost efficiency
10% - 30% 50% to 70%
70% 50%
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• “How shall we structure feedback?”
• “I’m looking for mentors.”
• “Your time is valuable. How can we get the most out of your hours.”
• “How can we present a new idea/generate new ideas on this?”
• “How can I help?”
Leading Up
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Leading Down• “This job is not for everybody.”
• Ys, Zs help you hire (list, interview)
• “Your work = the bottom line.”
• “Here’s the dif you make in lives.”
• “How can we do this better?”
TAME TECHNOLOGY (handout)
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1. Turnover Costs
2. Communication Costs
3. ROI on Gen Y
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ROI on Generation Y• Straight Talk, No Soft Sell
• Do I Fit? Community
• Lead From the Middle
• Flex Time
• Meaning, Learning
• Challenging Internships
• Redefine Loyalty
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No soft sell. Measure resultsUnderemployed (28%) 1st job Digital noise. List priorities.
Straight Talk
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“Do I fit?” Community▪ Connection w/ like-minded people
▪ Inclusiveness
▪ Self expression within structure
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Army of One
Army Strong
Be All That You Can Be
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Mom
Lead Collaboratively
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Lead
Collaboratively- How can we do this better?
- Can we make thismore meaningful?
- Can we make thiseasier?
- Help interview
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Jay Jamrog, HRI Loyalty & Commitment Survey, Human Resource Institute, University of Tampa.
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Time = success
Time = the new money
Best BuyROWESaved $13 M turnover Productivity +35%
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91%Flexible work = positive impact on morale.
89%Retention positively affected by flexible work.
2011 HR Professionals Survey, SHRM
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“I know this job is not your whole life. Nor should it be. But while we’re here together, let’s do some good.”
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Meaning
• 9 of 10, meaning is THE most important aspect of job
• 51% will accept lower wage if work is “more important or meaningful”(Kelly Global Workforce Index)
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• Make a difference• Be heard• Innovate• Know they are succeeding• Speed (product over process)
• Collaborate, be a team
Meaning
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- Choices charity
- Strategy
- Tie work to mission
79% 65%
Make a Difference
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Innovate
-Best New Idea?- - select best
- implement
- Dialog- Work on own projects % of time
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Learning
90%
Know They Are Succeeding
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GROW: Graduate Rotation Opportunities West
3 jobs, 9 months each.
27 months!!
89% understand business83% improved their skills95% STAYED
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▪ Impeccable planning ▪ High goals
▪ Fast pace ▪ Winners run some
more ▪ An investment
New York Life: 3% 90%
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Redefine Loyalty:Hello. Goodbye. Hello again.
future employees alumnipresent
employees
Moves peak at 25, then decline. Deloitte: 1 in 3 experienced people hired have worked there before.
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ROI on Generation Y• Straight Talk, No Soft Sell
• Do I Fit? Community
• Lead From the Middle
• Flex Time
• Meaning, Learning
• Challenging Internships
• Redefine Loyalty
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▪ Respect, articulate work ethic of all
generations
▪ Lead collaboratively, from the middle
▪ Meaning (innovation, moves, dialog)
▪ Build/maintain talent pools
▪ Visible career paths, stories
Invest in Your Managers
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AmyLynch,BottomLineConversations,LLC,ROIonGenerationY,www.GenerationYexpert.com,2008.
1
ROIonGenerationYEmployees
BestpracticehumancapitalmanagementofGenerationY
April2008 615.944.6140WrittenbyAmyJ.Lynch [email protected],LLCwww.GenerationYexpert.com12015thAveNorth,Ste202Nashville,TN37208-2768