"They're Heeeere..." - A Look at the Millennial Generation and How They're Turning Traditional Talent Processes on Their Heads
Millennials represent the largest generation in the United States, comprising roughly one-third of the total population in 2013 (Census Bureau). That equates to an estimated 80 million young Americans who belong to the so-called millennial generation, roughly ages 18 to 35. And they're taking today's evolving workforce by storm: it is expected that by 2025, Millennials will make up 75% of the workforce (Deloitte).
As discussed in "The Radical Transformation of Diversity and Inclusion: The Millennial Influence," Deloitte Research, in collaboration with the Billie Jean King Leadership Initiative, concluded that millennials' views of diversity and inclusion in their organizations are dramatically different to that of Baby Boomers and Gen Xers.
And that's just the tip of the iceberg; the influence of the millennial generation is far-reaching, and their impact can be felt across the talent lifecycle. Millennials are getting organizations to think differently about how to engage with their people — how to attract and develop talent, how to interact at work, and how to redefine priorities to focus on what we know is most important to this generation.
In this session, we explored the findings from "The Radical Transformation of Diversity and Inclusion: The Millennial Influence" and examined the broader impacts that millennials are having on traditional talent processes and, importantly, some of the innovative solutions that organizations are adopting to further meet the needs of this evolving generation. Some of the discussion points we addressed include:
The median number of "friends" millennials have on Facebook is 250 (Pew Research Center) — how can we tap into the power of social networks when recruiting top talent?
70% of millennials feel "gaming" helps them learn how to solve problems (Coca-Cola Company) — what are the implications of this from a training and development perspective?
80% of millennials prefer feedback in real time rather than via traditional performance reviews (UNC Kenan-Flagler Business School) — how can organizations adapt age-old performance management processes to adapt to this desire for real-time feedback?
What other ways — from communication to work-life fit, flexibility and well-being, and even corporate social responsibility — can organizations continue to learn from and adapt to the growing impact that this generation is having on today's talent practices?
Stephanie Turner, PhD
Stephanie is a manager for Deloitte's Survey Research and Analytics Center (SRC) with more than 8 years of experience in human capital consulting, survey research and analytics. Stephanie has her doctorate in industrial/organizational psychology, with a concentration in diversity, inclusion and organizational development. Having managed large data collection and survey research efforts, Stephanie has designed and implemented numerous talent analytics initiatives on a variety of topics such as talent innovation and inclusion, safety and health analytics, and workforce engagement. Stephanie has a passion for helping clients realize truly inclusive environments while enabling the use of analytics to link the impact of inclusion on critical business outcomes.
Stephanie also manages Deloitte's sponsorship of the Best Places to Work in the Federal Government program, where she leads a variety of webinars, workshops and events focused on increasing engagement across government, and provides advisory services and action planning support to federal agencies, enabling greater employee engagement and improving the workforce climate across federal government.
Linda Bohnert leads Deloitte's Inclusion Center of Excellence with more than 10 years of experience managing diversity and inclusion initiatives in large organizations. Passionate about fully leveraging the perspectives, experiences and strengths of each individual in the workforce to the benefit of the business and its people, Linda has led cultural transformation, driven innovation in the inclusion space and developed award-winning practices. She works closely with Deloitte's business leaders to develop the organization's inclusion strategy based on workforce trends, research and talent analytics. In addition to driving cultural transformation, Linda provides oversight and guidance on efforts at each phase of the talent lifecycle: talent acquisition, development and advancement. She designs and implements leadership development programs that help to hone the individual strengths of participants and ready them for the next level in their careers, manages strategic relationships with organizations that share Deloitte's commitment to inclusion, and leads the talent analytics efforts that ultimately inform the strategy.
She holds a bachelor's degree in marketing from the University of Arizona and an MBA in finance.