University of Minnesota - UMN Executive Leadership Insights
Keeping The Millennials
Book

Keeping The Millennials

Why Companies Are Losing Billions in Turnover to This Generation – and What to Do About It

Joanne G. Sujansky and Jan Ferri-Reed
Wiley, 2009
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The baby boomers’ children have grown up to be master multitaskers, able to send text messages, download music, watch TV and study at the same time. They’re entering the labor pool in droves, and they expect their jobs to be not only stimulating and well-paying but also (if you can imagine it) fun. Who are these extraordinary people with their radical work ethic? They are the “Millennials,” the second wave of baby boomer children who are questioning the way their parents do business. Dr. Joanne G. Sujansky and Dr. Jan Ferri-Reed caution managers that they must cater to millennials or risk losing billions in employee turnover and unachieved productivity. The authors explain how the members of this over-nurtured, well-educated, technology-savvy generation differ from their parents and grandparents. They also explain how to make workplaces hip enough to attract and retain this new talent. getAbstract suggests this insightful read to baby boomers who are struggling to manage these bright, energetic, puzzling and sometimes exasperating employees.

Summary

The “Millennials”

Are the following employees exceptions to the normal rules or precursors of things to come?

  • The newest member of the department tells his boss that he can’t work over the weekend because he has tickets to a sporting event.
  • A recent college graduate attends a job fair with her father and lets him do the talking.
  • A rising star steps off the fast track at her company to start her own business.
  • A prospective employee sends a human resources director a text message saying thanks for the interview.
  • A young man asks his boss to consider him for a promotion years ahead of the company’s traditional advancement time line.

This is how millennials act. These children of the baby boom are continuing to enter the labor force, and they’re bringing a new work style and point of view with them. It remains to be seen whether their attitude is problematic or merely different, but companies that don’t alter the way they operate to accommodate these new workers are jeopardizing their future.

For the first time, four generations are sharing the workplace:

  1. “Matures” – Senior workers...

About the Authors

Author and consultant Dr. Joanne G. Sujansky speaks frequently on leadership, change and retention. She founded KEYGroup, the training and coaching firm where Dr. Jan Ferri-Reed is president.

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