Unleashing the "M" Factor: New Research on What Millennials Want at Work.

#SAWLIVE
AGENDA
 Why Millennials?
 Old Perspectives vs.
Current Survey Data
– Loyalty
– Entitlement
– Benefits
– Education
 Insights From
MasterCard
© 2015 BRIGHT HORIZONS FAMILY SOLUTIONS LLC2

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MASTERCARD
Janice Burns, Chief Learning Officer

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BEST PLACETO WORK
 #32 — Forbes Most Innovative
Companies (2014)
 #65 — Training Top 125
 #28 — Fortune Magazine
Top People
in Business — Ajay Banga, CEO (2014)
 SSON — Excellence in Improvement and
Innovation Award
 Working Mothers — 100 Best Companies to Work
For

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PARTNERSHIP WITH
BRIGHT HORIZONS
 Back-Up Care Advantage®
 Bright Horizons Child Care
Tuition Subsidies
 Bright Horizons Care Direct®
 Special Needs
 College Coach®
 EdAssist®

© 2015 Bright Horizons Family SOLUTIONS LLC
WHY MILLENNIALS?
6

#SAWLIVE
MILLENNIALS INTHE
WORKFORCE
© 2015 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
66%
34%
2014
Other Generations Millennials
54%
46%
2020
7

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MASTERCARD
10%
38%
0
10
20
30
40
2005 2015
Percentage
Millennials
 10,000 employees
 80 locations worldwide
 210 countries
8

#SAWLIVE
COMMITMENTTO
RESEARCH

#SAWLIVE
EDASSIST 2015
MILLENNIALS SURVEY
 1,048 nationally
representative Americans
 Ages 18-35
 Margin of Error:
+/- 3%
 Conducted Feb. 10-17,
2015, by Kelton Research
using e-mail invitation and
online survey

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THE EVOLUTION OF
MILLENNIAL RESEARCH
1. LOYALTY
11

#SAWLIVE
THE EVOLUTION OF
MILLENNIAL RESEARCH
1. LOYALTY
2. ENTITLEMENT
3. BENEFITS
4. EDUCATION
12

1. LOYALTY

#SAWLIVE© 2015 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
What percentage of Millennials
believe that to advance professionally,
they need to job hop?
A. 100% B. 85% C. 50% D. 15%
THE MILLENNIAL MINDSET
14

#SAWLIVE
OLD PERCEPTION
MILLENNIALS ARE NOT LOYALTO
EMPLOYERS
“Millennials are thought to
be a generation who are
more apt to move from
one opportunity to the
next, and employers are
having a hard time
retaining these workers.”
– Business Insider, September 17, 2012
15

#SAWLIVE
2015 EdAssist Survey
Though they’re eager to climb
the corporate ladder, Millennials
don’t equate job hopping with
success.

 70% believe their careers
would benefit more if they
stayed at one company
 80% say it would help
them make more money
 51% say they would stay
at their current job for
four years or more
MILLENNIALS PLEDGETHEIR ALLEGIANCE…
TOTHE RIGHT EMPLOYERS
17

#SAWLIVE
JOB HOPPING ≠ SUCCESS

#SAWLIVE
MILLENNIALS PLEDGETHEIR ALLEGIANCE…
TOTHE RIGHT EMPLOYERS

What percentage of Millennials feel that they can
reach the highest level possible in their careers
on their own merits alone
(by paying their dues)?
A. 100% B. 80% C. 50% D. 20%
21

#SAWLIVE
“71% of American adults
think of 18-to-29-year-
olds — Millennials,
basically — as ‘selfish,’
and 65% of us think of
them as ‘entitled’.”
-TIME, May 2013
OLD PERCEPTION
THETROPHY GENERATION
22

2015 EdAssist Survey:
Millennials are willing to work
and pay their dues.
23

#SAWLIVE
WILLINGTO PAY
THEIR DUES
 80% of Millennials want to achieve
the highest level possible during
their careers on their own
 16% expect to be promoted on a
regular basis (18-to-24-year-olds)
 10% expect to be given an annual
bonus regardless of performance

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PROFESSIONAL
DEVELOPMENT

#SAWLIVE
WILLINGTO WORK
 Women prioritize a
clear career path more
than men do
 Women more apt to
expect employer to
provide specific job
description (69% vs.
49%)
26

3. BENEFITS

What benefit or perk is the top
priority for Millennials?
A. Retirement Savings Plan B. Company Equity
C. Phone Reimbursement D. Commuter Benefits
28

#SAWLIVE
“Millennials have a different set of values than
other generations regarding benefits:
Millennials value ‘perks’ over ‘benefits’.”
- Payscale.com, 2014
Generation X:
100% work from home, paid Internet access at home, and paid sabbaticals
Boomers:
defined benefit retirement plans, private medical insurance, and company car
OLD PERCEPTION
PERKSVS. BENEFITS
Millennials:
bus passes, paid overtime, and pet healthcare plans
29

Already focused on saving
for retirement, Millennials may be
more responsible
than we think.
30

#SAWLIVE
FINANCIAL SECURITY
IMPORTANTTO MILLENNIALS
 71% of Millennials care about
retirement savings
 33% expect employer to help
repay existing student loans
 50% expect financial support in
paying fur further education
 Interest in saving for retirement is
more acute for women
31

4. EDUCATION4. EDUCATION
32

What percentage of Millennials would pick a job
with strong potential for professional
development over one with regular pay raises?
A. 5% B. 25% C. 60% D. 75%
33

#SAWLIVE
“Millennials believe that work-life balance drives their
career choices.”
- U.S. Chamber Foundation, 2012
OLD PERCEPTION

Today’s Millennials want to
keep learning long after getting a
college degree.
35

EDUCATION AND
TRAINING
36

EDUCATION AND
TRAINING
37

#SAWLIVE
LEARNING ANYWHERE,
AT ANYTIME
 Innovation labs
 Peer-to-peer learning
 Reverse mentoring
 Social learning platform

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TUITION ASSISTANCE AT
MASTERCARD
 ROI, analytics, and reporting –
spend smartly
 Trends in education and
employee learning – certifications
 Centralized, global approach to
tuition assistance
 Education plans, fairs, and easy
access to advisors to support
employee career goals
 Online MBA program through
Northeastern University

#SAWLIVE
MILLENNIALS
 Eager to learn, grow, and
build their careers
 Desire clear career
pathways
 Prefer competitive
benefits that will provide
financial security
 Willing to sacrifice
personal time for
learning opportunities

#SAWLIVE
QUESTIONS & ANSWERS
 Janice Burns
Chief Learning Officer
MasterCard
 Mark Ward
Vice President & General
Manager
EdAssist, a Bright Horizons
Family of Solutions
mward@edassist.com

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SOLUTIONS AT WORK LIVE
& WEBINAR EVENTS
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Employee Financial Wellness:
Your $1Trillion Problem
Bright Horizons and Neuberger Berman will
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Unleashing the "M" Factor: New Research on What Millennials Want at Work.

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Unleashing the "M" Factor: New Research on What Millennials Want at Work.