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
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
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
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