DEEP Insight

Five Keys to Manage Millennial Talent Premium

Make Way for a New Generation

Authors: Stein, Guido; Martín, Miguel

Date: Fourth Quarter 2016

Tags: digitization, robotization, automation, computerization, millennials

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By 2025, millennials will represent an estimated 75 percent of the world's working population. With a view to meeting the needs and demands of this generation, many companies are rethinking their people management policies and leadership styles. The authors surveyed 22,000 international executives, hundreds of participants of IESE Executive MBA programs and their managers, as well as a group of final-year students from the University of Navarre's School of Economics and Business Administration. Their responses confirm that a shift is indeed taking place in professional aspirations, the priorities people weigh when choosing a job, and the type of leadership expected from managers. This article suggests the keys for attracting, developing and retaining millennial workers.

Tools and Frameworks:

> "Millennials: Who Are They and What Are They Like?" describes the common features of millennials that are increasingly shaping management policies and practices.
> "What Attracts a Millennial?" compares what junior and senior millennials prioritize when choosing a job.

Examples Cited:
General Electric, PD@GE, Unilever, Paul Polman, Future Leaders' League competition, Sustainable Living Plan, Sustainable Living Young Entrepreneurs Award, #PutItRight, #Brightsparks, Google, BuzzFeed, Apple, 3M, Strategic Initiatives for Sustainability, IBM, Checkpoint, Millennial Corps, McKinsey, Silicon Valley startups, Dell, Coca-Cola, Millennial Voices

Research Basis:
Based on surveys of 22,000 international executives, hundreds of participants of IESE Executive MBA programs and their managers, as well as a group of final-year students from the University of Navarre's School of Economics and Business Administration.

About the Authors:
Guido Stein is a professor in IESE's Department of Managing People in Organizations.

Miguel Martín is a research assistant at IESE.

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