The document discusses strategies for engaging millennial knowledge workers to maximize innovation. It finds that millennials will soon be the largest generation in the workforce due to their size and shared traits of being educated, innovative, and globally connected. However, their expectations of the workplace differ from previous generations in wanting career growth opportunities, frequent feedback and recognition, an emphasis on work-life balance, and a values-based culture where they feel part of something bigger. The document argues that employers must cultivate four dimensions - mentorship, values, community, and work-life integration - to better engage millennials and unleash their potential for greater innovation.

1. Unleashing the Potential
of the Millennial Generation
Bharat Chopra
Reff Cheng
Soumya Korde
Faheem Noor Ali
Kari Wilson
Faculty Advisor: Professor Scott Stern

2. How to engage millennial
knowledge-workers to maximize
innovation in your organization

3. Organizations must embrace these traits
Engage Millennials through the 4Cs for greater innovation
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4. Unleashing the Potential of the Millennials
Agenda
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5. Three Generations Coexist in the Workforce
Millennials will soon be the largest group with their own characteristics
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Source: Delloitte, “Who Are the Millennials?”

6. The Millennials are a Force
By 2015, this generation will be the heart of the workforce
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Sources: PEW, PWC, Rutgers, Greenberg Millennial Study, Defense AT&L

7. Millennials are a Global Phenomenon
1.5B Millennials share common traits but exhibit local idiosyncrasies
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8. Unleashing the Potential of the Millennials
Agenda
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9. Defining Moments Shaped the Millennials
Making Millennials self-reliant, success driven, and flexible
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Source: Delloitte, “Who Are the Millennials?”; Greenberg Millennials Study

10. Defining Characteristics Emerged
Millennials are talented and poised to make an impact
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11. Defining Characteristics Emerged
Millennials are eager to contribute and ready to take on responsibility
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•! Pendulum has swung back when
compared to Gen X and their
intrinsic motivation
•! 63.5% choose employer based
on opportunity for growth and
development
•! 57% plan to fund their own
retirement
Sources: Deloitte Gen Y Study, Deloitte Ireland Survey, PWC Survey

12. Defining Characteristics Emerged
Multi-tasking is the norm for the “video game generation”
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•! Over 75% grew up with a
computer at home
•! Spend 6.5 hours a day using
media, but consume 8.5 hours
worth during that time
•! Facebook membership rivals the
population of Brazil
Sources: Northwestern Media Management Center

13. Defining Characteristics Emerged
Millennials have proven themselves to be responsible
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•! 78% are willing to make
sacrifices in their own life to
address the major challenges
facing our country
•! 71% of college freshman report
volunteering once a week
•! Reported drug use and teen
pregnancies down
Sources: National Institute on Drug Abuse;UCLA American Freshman Survey

14. Defining Characteristics Emerged
Family is most important but virtual relationships also flourish
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•! 73% say family is most important
thing in their life
•! Friendship is a strong motivator
when choosing a company
•! Strong ability to network and
develop new relationships
Source: Forrester

15. Each Generation has a Unique Perspective
At the same stage in their lives, past generations were different
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16. A Generational Gap Exists
Managers must understand the new expectations in order to close gap
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Source: Delloitte, Greenberg Millennials Study

17. Unleashing the Potential of the Millennials
Agenda
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18. Employers can Unleash Millennials’ Potential
Cultivating four dimensions can engage this generation
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19. Basic Demands Have Not Changed
Like past generations, Millennials value salary and benefits most
Rank the following traits in importance
On a scale of 1 (least important) to 10 (most important)
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Source: Robert Half International, Yahoo! HotJobs, “What Millennial Workers Want”

20. Companies Must Engage on More Dimensions
Employee expectations have evolved through the generations
Boomers
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21. Companies Must Engage on More Dimensions
Employee expectations have evolved through the generations
Gen X
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22. Companies Must Engage on More Dimensions
Employee expectations have evolved through the generations
Millennials
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23. Millennials Need More Mentorship
Millennials were raised with constant coaching and recognition
CAREER
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Source: Robert Half Internationall, Yahoo! HotJobs, “What Millennial Workers Want”, Fortune, Fast Company, HRExecutive Online

24. Intel Reinvented Mentorship Programs
The program emphasizes accountability and skills, not rank
CAREER
Source: Fast Company

25. They are Driven by a Values-based Culture
Provide an environment of clear values and work autonomy
CULTURE
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Source: Deloitte, “Decoding Generational Differences”

26. Organizations Should Stress Values
Provide Millennials with the purpose and structure they seek
CULTURE
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27. They Want to be Part of Something Bigger
Millennials want their employer to be more than just a workplace
COMMUNITY
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Source: Robert Half Internationall, Yahoo! HotJobs, “What Millennial Workers Want”, Fortune, Fast Company, HRExecutive Online

28. Salesforce is Committed to Positive Impact
Donates 1% of equity, 1% of time, and 1% product
COMMUNITY
Source: Fast Company

29. Millennials are Tech-savvy Multi-taskers
Born during the Age of Technology, life is about being connected
CONNECTIVITY
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Source: Robert Half Internationall, Yahoo! HotJobs, “What Millennial Workers Want”, Fortune, Fast Company, HRExecutive Online

30. Web 2.0 Can Encourage Ideas
Companies have gained creative new ideas by using such tools
CONNECTIVITY

31. Unleashing the Potential of the Millennials
Agenda
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32. Employers can Unleash Millennials’ Potential
Cultivating four dimensions can engage this generation
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33. Actions Your Company Can Take Now
To Unleash the Power of the Millennial Generation
•! Implement Reverse
Mentoring program
•! Establish a company-wide
Idea Management Tool
•! Ignite innovation through
highly visible Contests
Source: Deloitte, “Generation Y: Powerhouse of the Global Economy”

34. Unleashing the Potential of the Millennials
Agenda
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At what level is your organization engaging the Millennial
generation?

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How can organizations – both public and private – leverage
the distinctive qualities and goals of Millennials?

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What have been the biggest successes and failures you
have had in trying to manage Millennials?

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What are some best practices that companies might be able
to use to better manage the challenges and opportunities
from Millennials?