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A recent study by Delloitte 2019 millennial survey it actually
showed that millennial now accounts for a little more than a third of
the workforce which as you can imagine a non trivial number.
Interestingly the survey also suggested that they're not particularly optimistic,
either about the economy or for that matter,
the state of leadership of enterprises.
Not just in America but the world all over.
>> I think there's a crisis of leadership in government in corporations.
And kind of broadly speaking, especially given the last 20,
30 years of what people have seen.
We've seen companies who are using our data against us as opposed to for us.
We've seen governments who've lied.
And so I think that healthy skepticism is what it is.
On the other hand, I find that when you're working with younger people,
the energy and the brightness that they bring is awesome.
They want to do good and they want to do well.
And as managers, can you channel that into making something positive and
have a positive impact?
Maybe they'll only stay with your company for three years.
But if you treat them well, will they talk well of the organization after they leave.
And by the way, maybe you redesign a job in a way that allows
them to do multiple things, and maybe they'll stay longer.
I think companies need to be far more open minded
about what the relationship looks like between employers or managers and workers.
And how do you make it a positive thing over an extended period of time.
>> So earlier Mitchell, when we were having lunch you were
mentioning that the millennials had three signature tests.
Income was one, flexibility was another.
And then there was a third element- >> It was along the question of
what are the most important characteristics for millennials.
And again, it's where they are on their journey, in general income and benefits
are of top most importance to them, followed very closely by flexibility.
And flexibility as defined, going back to the first question,
which is the holistic person, right.
So for one person's flexibility maybe,
I'd like to work from home a couple of days a week, and avoid the commute.
For someone else,
it's I need to have a flexible schedule because I'm doing my side hustle.
And I'm incorporating that as part of my life.
That flexibility element I have found with this generation is increasingly important.
>> Right, so is the side hustle that you so charmingly referenced to-
>> [LAUGH] lack of a better term.
>> [LAUGH] It is, so what does it mean for employee loyalty or
is that like an outmoded idea that we've got to consigned to the dustbin?
>> I think it goes to what Rob was saying is that there is less loyalty toward
an individual company or organization born, perhaps their journey which saw
recession, saw housing crisis, saw parents may be struggle economically.
And so they're not going to put all their eggs in one basket.
And so the side hustle is both a necessity for
economic stability as well as this fuels me.
This fuels my life and this is important to me.
>> Right, so you have hedgers if you will.
>> Correct. >> And they hedge, but I'm very drawn
to your emphasis on how much contagious positive energy the millennials have.
But what I also see you recommending and
I want to make sure my understanding is right, you're suggesting hey,
the way we design organizations is not like one size fits all.
But it's the era of mass customization.
Is that what it is, or?
>> Well, there's a big part of that.
And I think that if you look at the tools of communication and of collaboration,
it allows people to do things differently than were done in the past.
I think that you'll see the way organizations are constructed on a global
basis will not be what historically was the old hub-and-spoke model.
Where you have a headquarters and then labor arbitrage that have cheaper labor in
manufacturing or in engineering or in customer service.
Now you'll see organizations act more and behave like mesh networks.
And there you'll have clusters of organizations and
people that will be able to work together in a much more egalitarian way.
And I think that plays into a lot of what the millennials want to do.
And maybe they relocate to some place for 60 days as opposed to for two years.
And that constant change which they're used to with how they consume media,
they're used to and how they communicate with each other.
The organization ends up taking on some of those attributes.
I think that's pretty exciting.
I mean, if I were young,
I think it would be great all the wonderful things that I would get to do.
And how my life might be different in 90 days than it is today.
So I see that as a positive thing.
>> And do you, Mitchell?
>> Absolutely, I can't add to any more, 100% agree.