The Millennial Myth Public Facing Deck

CEB Corporate Leadership Council
The Millennial Myth

Three Strategies for Effectively Managing
Millennials in the Workforce
A Framework for Member Conversations

The mission of The Corporate Executive Board Company (CEB) and its affiliates is to unlock the potential of organizations and leaders by advancing the science and practice of
management. When we bring leaders together, it is crucial that our discussions neither restrict competition nor improperly share inside information. All other conversations are welcomed
and encouraged.
Confidentiality and Intellectual Property
These materials have been prepared by CEB for the exclusive and individual use of our member companies. These materials contain valuable confidential and proprietary information
belonging to CEB, and they may not be shared with any third party (including independent contractors and consultants) without the prior approval of CEB. CEB retains any and all
intellectual property rights in these materials and requires retention of the copyright mark on all pages reproduced.
Legal Caveat
CEB is not able to guarantee the accuracy of the information or analysis contained in these materials. Furthermore, CEB is not engaged in rendering legal, accounting, or any other
professional services. CEB specifically disclaims liability for any damages, claims, or losses that may arise from a) any errors or omissions in these materials, whether caused by CEB or
its sources, or b) reliance upon any recommendation made by CEB.
THREE MYTHS OF MILLENNIAL MANAGEMENT
Competition
Connectivity
Commitment
Myth
Millennials Are More Collaborative Than

Competitive
Millennials Rely on Their Peers to Get

Work Done
Millennials Want to Organization Hop
Reality
Millennials are more competitive than

other generations. They are more driven
by relative performance than absolute
performance.
Millennials are more connected, but they

underleverage peers at work. They have the
connections, but dont trust peers input.
Millennials want to experience hop,

not organization hop.
Provide comparison opportunities by

increasing visibility of millennials impact.
Increase trust through greater

understanding of the value of peer input.
Help millennials identify the benefits

of diverse career moves within their
organizations.
Strategy
Best Practice
Gamified Failure Sharing Platform
Network Performance Points
Career Maps
Identifying the Three Myths

1. Which myths, if believed, would significantly detract from an organizations ability to attract, retain, and engage millennials?
2. Which myths were most commonly held by organizations?
2014 CEB. All rights reserved.CLC9566814SYN
Many view millennials

as primarily collaborative,
but millennials are
motivated by the
desire to stand out
from their peers and
be competitive.
MOST VIEW MILLENNIALS AS COLLABORATIVE,

BUT THEY ACTUALLY WANT TO COMPETE
Other Generations Think About Millennials
Primarily as Collaborative
Work
spaces that
promote collaborative
work are going to become
the norm as the share of
millennials rises in the
workforce.
Millennials Have a Strong Competitive Nature

Percentile Rankings of Respondents Who Say That
Competition Is What Gets Them Up in the Morning,
by Generation
Baby Boomers
Millennials
are all about
teamwork, they prefer
a collaborative work
environments rather
than a competitive
one.
Generation X
Millennials
Competition Percentage
30
50
54
59
70
Source: SHL The 2012 Talent Report.
From
their early
socialization in
kindergarten, millennials
were educated in groups
collaboration is their
baseline behavior.
Source: CEB analysis.
Millennials are more

competitive when
it comes to their
performance relative
to others rather than
achieving a personal
standard of performance.
Millennials are 10%

more likely than other
generations to compare their
performance to their peer
performance.
MILLENNIALS MORE DRIVEN BY RELATIVE

PERFORMANCE THAN ABSOLUTE PERFORMANCE
Millennials More Likely to Be Competitive
about Their Performance Relative to Others
Performance
Percentage of Employees Who Agree That They
Compare Their Individual Performance with the
Performance of Their Peers, by Generation
58%
60%
Millennials are 16% less likely

than other generations to be
competitive with themselves.
Motivate millennials by
providing opportunities
for them to compare their
performance to others.
Millennials Less Likely to Be Driven by

Absolute Performance Standards
Percentage of Employees Who Agree That Doing
Their Job Adequately Is Not Enough, by Generation
60%
48%
30%
45%
30%
24%
0%
Millennials
Other Generations
0%
Millennials
Other Generations
n = 10,531.
n = 10,531.
Source: CEB 2014 Enterprise Contribution Workforce Survey.
Implication
Millennials are more motivated by comparing their performance to others. Provide comparison opportunities by
increasing visibility of millennials contributions.
Integrate gamification
into work to increase the
visibility of millennials
performance allow
opportunities for
comparison.
ALLOW MILLENNIALS TO COMPARE THEMSELVES

TO OTHERS WITH GAMIFICATION
Alphas Gamified Failure Sharing Platform Designed Around Four Key Concepts
Alpha developed a
platform that encourages
employees to share their
own failures and learn from
others failures. They used
gamification principles to
encourage participation.
Employees receive rewards
for accomplishing tasks in
the form of badges and
points that are available
for everyone to see, giving
millennials the opportunity
to compare their standing
with others.
1. O
ffer challenges and rewards:
Employees compete in missions for
badges and points by viewing videos,
completing quizzes, or uploading their
own submissions, to qualify for prizes
or gain vacation time to dedicate to
working on innovative ideas.
2. Publicize rewards: Alpha makes the

reward for accomplishing tasks visible
to all players through the leader board,
which pits frontline employees against
senior executives.
3. Provide Immediate feedback:

Games provide ongoing feedback
to employees through changes in
score, progress toward the next level,
and performance compared to other
players. Employees can also view how
peers rate their contributions such as
videos or blog postings.
4. Align design with the objective and

target population: Alpha built a visually
engaging experience that is aimed at
the learning style of its IT employees
and that hard message it is trying
to make them comfortable with. They
also actively manages the content and
rewards structure over time.
Source: Alpha Company; CEB analysis.
Pseudonym.
A workforce driven by
relative performance
has several implications
for performance
management, recognition
programs, and other
talent management
practices.
FIVE CONSIDERATIONS FOR THE CHRO

A workforce that is more competitive, and specifically likes to compete with others, has several
implications for the CHRO. In particular, CHROs should consider the following:
Is my performance management system providing adequate differentiation without

causing destructive competition?
Is my recognition program visible enough to be meaningful and motivating?
Do my recognition programs provide the opportunity for millennials to compare their
performance to others?
Do millennials have high-profile opportunities to compete with others?
Do millennials have the opportunity to contribute work outside of their immediate teams?
Competition
Connectivity
Commitment
Myth

Competitive

Work Done
Reality

performance.





organizations.
Strategy
Best Practice
Career Maps

Millennials are well

connected.
MILLENNIALS WELL-CONNECTED INSIDE AND OUTSIDE

OF Work
Millennials internal networks

are slightly smaller than
other generations.
Millennials More Connected to Peers

Outside of Work
Millennials Internal Networks Similar in Size

to Other Generations
Percentage of Respondents Who Use Social

Networking, by Generation
Number of People Each Generation Interacts

with to Complete Work Each Week
Millennials are just as likely

to have close relationships
with coworkers as other
generations.
80%
78%
78%
20
17
17
20
80%
14
14
34%
34%
40%
40%
0%
0%
Millennials
n = 1,188.
Other
Generations
Source: Lee Rainie, Baby Boomers and Technology, Pew Research Center,
2012, http://www.pewinternet.org/2012/03/28/baby-boomers-andtechnology/.
10
10
00
Millennials
n = 23,339.
Other
Generations
Source: CEB 2012 High Performance Survey.
Millennials Just as Likely to Have Friends at Work as Other Generations

Percentage Agreeing They Have Close Personal Relationships with Coworkers, by Generation
40%
40%
36%
36%
36%
36%
Millennials
Other
Generations
20%
20%
0%
0%
n = 23,339.

However, millennials do
not trust their peers
input at work.
When employees have

peers they can trust and
rely on, it drives enterprise
contribution more than
simply having connections
at work.
BUT MILLENNIALS DO not TRUST PEER INPUT at work

Millennials Do Not Trust Peers Input at Work
Percentage of Employees Who Only Trust
Themselves to Accurately Complete a Work
Assignment, by Generation
40%
Trust More Important Than Connections

at Work
Maximum Impact on Enterprise Contribution a
4%
4%
37%
26%
2%
20%
<1%
1%
0%
Millennials
Other
Generations
0%
Having Close
Connections at Work
Trusting Your
Coworkers
n = 10,531.
n = 23,339.

a
An employees enterprise contribution consists of his/her individual task

performance (effectiveness at achieving individual tasks) and network
performance (effectiveness at improving the performance of peers as well
as using contributions from peers to improve his/her own performance).
Implication
Increase millennials trust in peers through greater understanding of the value of peer input.
10
Beta used the

performance review
process to signal the
benefits of collaborative
behaviors to their
employees success.
Enable employees to recognize impact

of collaboration to increase trust
Elements of Betas Contribution to the Success of Others Measurement Process
A new measurement,
Contribution to the Success
of Others, was embedded
in the performance review
to help employees make
the connection between the
contributions of others and
personal success.
Component 1: Awareness
Component 2: Recognition
Use self-reviews to drive understanding of

how others have contributed to personal
success.
Quantify network performance to

drive high-value, not just high-volume,
collaboration.
Contribution to the
Success of Others Metric
Component 3: Reinforcement
Strengthen the connection between
collaboration and performance through
stories.
Source: Beta Company; CEB analysis.
Pseudonym.
11
As part of the self-review

section of the annual
performance review, each
employee recognizes the
contributions others have
made to their success
through a points system.
Build awareness of peer contributions

to individual success
Betas Contribution to the Success of Others Platform

Illustrative
Beyond simply distributing

points, employees provide
examples of how they have
been supported by others
over the past year.
Employee Name: John D.

Employee Name
Available Points: 10
Points
Mary
2
Please Select
Mike G
Adam N
Jessica K
Bill W
Chris
Briefly Describe How This Individual Has

Contributed to Your Success
Briefly Describe the Impact of This Individuals

Contribution
Mary introduced me to customer XYZ after

determining that they would be a good
candidate for services in my BU.
I sold the customer a 36 month contract with

option to extend.
Mike provided encouragement during a

challenging customer interaction.
I was able to maintain a positive relationship

with a difficult customer.
Alyssa frequently puts me into contact with

rising talent looking for new opportunities
Alyssa connected me with a colleague whose

experience contributed to our success.
Chris has been a valuable resource by sharing

his expertise in managing clients in China.
I have been able to successfully assume

ownership of 4 new APAC clients into my
portfolio.
1 Situational Points Allocation

Employees are allotted points to
distribute through a web portal.
Employees working on high-risk
projects are given 20 points instead
of the standard 10 because they
should be receiving more help from
peers.
2 Limited Recognition
Employees only recognize those they
feel have contributed the most to
their personal work, so comments are
limited to those individuals.
3 Personalized Impact
Employees are required to provide
a sentence or two about how each
individual has contributed to their
success and the impact. Employees
are given broad guidelines about
which types of contributions they can
recognize.
Source: Beta Company; CEB analysis.
Pseudonym.
12
A workforce that does

not trust peer input has
several implications
for leaders, knowledge
management processes,
and other talent
management practices.

A workforce that does not leverage peer networks and does not trust peer input has several
implications for the CHRO. In particular, CHROs should consider the following:
Do my leaders role-model trusting behavior for other employees?
Are millennials aware of their peers knowledge and expertise?
Do our development programs teach millennials how to seek and provide input to their peers?
Does our performance management system help millennials understand they are expected
to leverage their peers for success?
Does our organization facilitate strong internal networks?
13
Competition
Connectivity
Commitment
Myth

Competitive

Work Done
Reality

performance.





organizations.
Strategy
Best Practice
Career Maps

14
Millennials want
opportunities to advance
their careers.
MILLENNIALS: ORGANIZATION HOPPERS OR

EXPERIENCE HOPPERS?
Theyre looking externally

for these opportunities more
so than other generations.
Millennials Want Opportunities to Advance

Their Careers
However, millennials are

just as willing as other
generations to look for these
opportunities internally.
Percentage of Respondents Selecting Each Attribute

as the Top Five Most Important When Considering a
Potential Employer, by Generation
40%
Millennials
32%
Millennials Looking for External Opportunities

Percentage of Employees Who Will Look for Job
at Another Organization in the Next Year,
by Generation
Other Generations
60%
21%
20%
22%
51%
37%
15%
30%
12%
18%
7%
0%
0%
Future Career Development

Opportunity Opportunity
Organization
Growth Rate
n = 10,531.
Millennials
Generation X Baby Boomers
n = 89,872.
Source: CEB 20132014 Global Labor Market Survey.
Millennials Just as Willing to Look Internally for

Career Opportunities as Other Generations
Percentage of Respondents Agreeing Internal Job
Opportunities Are Desirable, by Generation
60%
53%
52%
30%
0%
Millennials
n = 3,409.
Other Generations
Source: CEB 2013 Succession Management Survey.

15
Some organizations try

to retain millennials by
promising fast career
progression.
However, opportunity
for diverse experiences is
a better driver of millennials
retention than fast career
progression.
PROVIDE DIVERSE CAREER EXPERIENCES, NOT FAST

PROMOTION
Diverse Organizational Experiences Drive Millennial
Retention More Than Fast Career Paths
Maximum Impact on Intent to Stay
30%
23%
15%
<1%
1%
0%
Opportunity for
Lateral Career Moves
Accelerated
Promotion Path
n = 3,409.
Source: CEB 2013 Succession Management Survey.
Implication
Help millennials identify the benefits of diverse career moves at their organizations.
16
Demonstratetomillennials
theimportance of
connector roles in
building out their skill sets.
HIGHLIGHT THE OPPORTUNITY FOR

DIVERSE CAREER MOVES
Demonstrate the Benefits of Connector Roles

Excerpt of Gammas Career Map
1 Which leadership, business, and technical capabilities do people need to be advanced or expert in to succeed in this role?
Conceptual thinking
Economic analysis and
modelling
Quantitative skills
Thinks ahead and
anticipates future needs
Data mining and data
management
Building relationships
(networker) and a trusted
advisor
Change management
Delegates appropriately
Influences strategically
Strongly demonstrated
Gamma leadership qualities
Governance/control
framework
Managing an audit
Commercial acumen
Regulatory understanding
Driving value
Financial Investment
decisions
Modelling outcomes
Valuing portfolios
2 In which roles do people gain these?
Engineer
Economist
Resource management
Operations
Program management
Audit/business assurance
role/project
Price control role

Commercial/regulation
Financial analyst role
Group strategy role
3 How else can people develop these?
Business school modules

in business finance and
economics
Investment role
Global group involvement

Global networks
Large change program
Project role
Change management
Organization design
Presenting to governance
group
Regulatory submission
Lead an industry/
regulatory consultation
response
1. Detail the skills and experiences required for success in the critical role
2. Identify the connector roles that align to each skill set and experience to help employees and their managers
make job moves
3. Recognize the limitations to mobility and identify other opportunities to develop the same skills and experiences
without a job move
Source: Gamma Company; CEB analysis.
Pseudonym.
17
A workforce with diverse

career interests has
several implications
for career pathing and
succession management
strategies.

A workforce that has diverse career interests has several implications for the CHRO.
In particular, CHROs should consider the following:
How can managers help millennials identify opportunities across the organization?
Do my succession plans encourage vertical or diverse career paths?
How are lateral moves perceived by others across the organization?
Do millennials have the opportunity to experience realistic job previews of roles across
the organization?
Are managers willing to share talent?
18
The Millennial Myth: Three Strategies for Effectively Managing

Millennials in the Workforce
Key Takeaways and Implications for Chief Human Resources Officers
Key Takeaways
1. Heavy media focus on millennials in the workplace leaves
organizations unsure how to best manage millennials.
2. There are three common myths about managing millennials:
CompetitionMillennials are more competitive than many

believe. They are driven more by relative performance
than absolute performance.
ConnectivityMillennials are well connected, but they
dont trust their peers to leverage them for success.
Implications for Chief Human Resources Officers

1. To engage millennials, provide comparison opportunities
by increasing the visibility of millennials impact on the
team.
2. To improve millennials enterprise contribution, increase
their trust in peers through greater understanding of the
value of peer input.
3. To better retain millennials, help them identify the benefits
of diverse career opportunities within the organization.
CareersMillennials want opportunities to advance

their career and they are looking for these opportunities
externally. However, theyre just as willing to look
internally for these opportunities as other generations.
They want to experience hop, not organization hop.
Source: CEB analysis.
19

The Millennial Myth Public Facing Deck

Hochgeladen von

Dokumentinformationen

Copyright

Verfügbare Formate

Dieses Dokument teilen

Dokument teilen oder einbetten

Freigabeoptionen

Stufen Sie dieses Dokument als nützlich ein?

Sind diese Inhalte unangemessen?

Copyright:

Verfügbare Formate

The Millennial Myth Public Facing Deck

Hochgeladen von

Copyright:

Verfügbare Formate

CEB Corporate Leadership Council

The Millennial Myth

A Framework for Member Conversations

THREE MYTHS OF MILLENNIAL MANAGEMENT

Millennials Are More Collaborative Than

Millennials Rely on Their Peers to Get

Millennials Want to Organization Hop

Millennials are more competitive than

Millennials are more connected, but they

Millennials want to experience hop,

Provide comparison opportunities by

Increase trust through greater

Help millennials identify the benefits

Gamified Failure Sharing Platform

Network Performance Points

Identifying the Three Myths

2014 CEB. All rights reserved.CLC9566814SYN

Many view millennials

MOST VIEW MILLENNIALS AS COLLABORATIVE,

Millennials Have a Strong Competitive Nature

Source: SHL The 2012 Talent Report.

Source: CEB analysis.

2014 CEB. All rights reserved.CLC9566814SYN

Millennials are more

Millennials are 10%

MILLENNIALS MORE DRIVEN BY RELATIVE

Millennials are 16% less likely

Millennials Less Likely to Be Driven by

Source: CEB 2014 Enterprise Contribution Workforce Survey.

Source: CEB 2014 Enterprise Contribution Workforce Survey.

2014 CEB. All rights reserved.CLC9566814SYN

ALLOW MILLENNIALS TO COMPARE THEMSELVES

2. Publicize rewards: Alpha makes the

3. Provide Immediate feedback:

4. Align design with the objective and

Source: Alpha Company; CEB analysis.

2014 CEB. All rights reserved.CLC9566814SYN

FIVE CONSIDERATIONS FOR THE CHRO

Is my performance management system providing adequate differentiation without

Do millennials have high-profile opportunities to compete with others?

2014 CEB. All rights reserved.CLC9566814SYN

THREE MYTHS OF MILLENNIAL MANAGEMENT

Millennials Are More Collaborative Than

Millennials Rely on Their Peers to Get

Millennials Want to Organization Hop

Millennials are more competitive than

Millennials are more connected, but they

Millennials want to experience hop,

Provide comparison opportunities by

Increase trust through greater

Help millennials identify the benefits

Gamified Failure Sharing Platform

Network Performance Points

Identifying the Three Myths

2014 CEB. All rights reserved.CLC9566814SYN

Millennials are well

MILLENNIALS WELL-CONNECTED INSIDE AND OUTSIDE

Millennials internal networks

Millennials More Connected to Peers

Millennials Internal Networks Similar in Size

Percentage of Respondents Who Use Social

Number of People Each Generation Interacts

Millennials are just as likely

Source: CEB 2012 High Performance Survey.

2. Publicize rewards: Alpha makes the

3. Provide Immediate feedback:

4. Align design with the objective and