Millennials at Work

Understanding Your
Future Workforce


Presentation at the 2013
Financial Management Institute
PD Week
Presenters
Lori Watson
Partner
Ryan Lotan
Director
Franck Hounzangbe
Senior Associate


www.pwc.com/ca
Today we will discuss

Why workplace generations matter;

What we have learned about Gen Y; and

What this means to you as a manager or employer.
Millennials at Work Understanding Your Future Workforce
2
Are generations really that different?

3 Millennials at Work Understanding Your Future Workforce
Who are the Boomers,
Gen X and Gen Y?

1. What is their focus when it comes
to work?

2. What is their preferred
communications style?

3. What comes first?
Baby Boomers
(Born between 1943 1960)
General characteristics
Focus is on quality and
efficiency
See life as an adventure
Prefer to communicate in
person
Interested in traditional
forms of reward (e.g. bonus,
raise, promotion)
Prioritize work first

Millennials at Work Understanding Your Future Workforce 4
Generation X
(Born between 1961 1981)
General characteristics
Focus is getting the job done
Like being independent
See work as a challenge
Enjoy direct communication
(in person/phone)
Less concerned about
promotion
Want freedom and flexibility
Want work/life balance

Millennials at Work Understanding Your Future Workforce 5
The Millennial Generation / Generation Y
(Born between 1982 2000)
General characteristics
Always looking to the future
Goal orientated
See work as a means to an
end
Prefer communicating via
email and social media
Desire instant feedback and
recognition where it is due
Want balance between work
and life.

Millennials at Work Understanding Your Future Workforce 6
Why care about these differences?

7 Millennials at Work Understanding Your Future Workforce
People in different age groups
tend to share a distinct set of
attitudes and behavior due to
their coming of age during a
particular period in history.
Strauss and Howe,
Generations (1991)
A Deeper Dive: PwCs Millennials at work study
Global survey with millennials from 75
countries.
4,364 respondents, including 1,470
PwC employees and 2,894 other
graduates.
In Canada, 75 individuals responded to
the survey.
All respondents were 31 years of age or
younger and had graduated between
2008 and 2011.
75% were employed or about to start a
new job.
Detailed results available at:
www.pwc.com/millennialsatwork

Millennials at Work Understanding Your Future Workforce 8
Do you believe that Millennials will be
better off than their parents generation?

Millennials at Work Understanding Your Future Workforce 9
Although this generation is likely to be the first
in living memory that is worse off than their
parents, 67% of Millennials still expect to be
better off.
Millennials have made compromises to get work
32%
17% 17%
15%
14% 14% 14% 14%
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28%
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Which compromises do you believe are the most acceptable to millennials to
get into work?
10
Base: Those employed/ due to start work for an employer shortly
Millennials at Work Understanding Your Future Workforce
? ? ? ? ? ? ? ? ? ?
Money isnt everything.

Millennials at Work Understanding Your Future Workforce 11
Knowing that the company values its
professionals and has a solid professional
development scheme and concern for holding
on to talent.
Male graduate, Brazil
Millennials are attracted to employers who can
offer more than just good pay
12 Millennials at Work Understanding Your Future Workforce
52%
44%
35%
31%
21%
20%
15%
15%
15%
10%
8%
8%
1%
0% 20% 40% 60%
Opportunities for career progression
Competitive wages/ other financial incentives
Excellent training/ development programmes
Good benefits packages
Flexible working arrangements
International opportunities
Good reputation for ethical practices
Corporate values that match your own
A reputation as an employer of the best and
The employer brand
Diversity/ equal opportunities record
The sector in which the organisation operates
Other
What makes an organization an attractive employer?
Base: All graduates
Millennials expect to keep on learning
and spend a high proportion of their
time gaining new experiences and
absorbing new information.
Millennials at Work Understanding Your Future Workforce 13
Overall, over of graduates agree they enjoy working
with older senior management, while only 4% disagree.

14 Millennials at Work Understanding Your Future Workforce
Millennials believe they have a lot to learn from
senior management, and are comfortable working
with other generations
76%
4%
0%
20%
40%
60%
80%
100%
Agree Disagree
Enjoy working with senior
management of an older generation
and believe I can learn a lot from them
Base: All graduates
three quarters (76%)
Millennials want regular feedback from managers
on their performance at work

Millennials want and expect detailed, regular feedback and praise for a job
well done.

15 Millennials at Work Understanding Your Future Workforce
The most valued opportunity is the chance to work
with strong coaches and mentors
46% of employed millennials said the development opportunities offered by
their employer influenced their choice to accept the job.
Millennials expect employers to have a
flexible approach to "how" work is
done they want to be able to work in
the way that suits them best

Millennials at Work Understanding Your Future Workforce 16
70% expect some degree of flexibility in their
working hours.
78% believe that using the technology they
like makes them more effective at work.
17 Millennials at Work Understanding Your Future Workforce
Many millennials have found opportunities for
progression to be limited since starting work
57%
32%
26%
29%
17%
39%
Employed in
a graduate
job
Employed in
a non
graduate job
Satisfied Neither Dissatisfied
There is a strong appetite among millennials for
working abroad
would like to work outside of their home country in their career.
71%
Will millennials be loyal?
Millennials at Work Understanding Your Future Workforce 18
Most millennials expect to have between two
and five employers in their careers.
The most popular course among millennials is
to stay in the same field, progressing through a
variety of organizations.
The millennial generation is all
about:

1. Flexibility
2. Feedback
3. Options
4. Development
Millennials at Work Understanding Your Future Workforce 19
Given the Federal Government context, what
are the levers available to managers to
stimulate their millennial workforce?
For more information, please contact:
Lori Watson
Partner, Financial Effectiveness
613 755 4358
lori.c.watson@ca.pwc.com

Ryan Lotan
Director, Operations
613 782 2979
ryan.w.lotan@ca.pwc.com

Franck Hounzangbe
Senior Associate, Financial Effectiveness
613 755 5901, ext. 2182
franck.hounzangbe@ca.pwc.com

www.pwc.com/ca/





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Millennials at Work Understanding Your Future Workforce
Thank-you
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