Managing Millennials The Ultimate Handbook for Productivity, Profitability, and Professionalism

The Millennial workforce has different goals and objectives than previous generations and possesses a unique perspective that is unlike any other employee group. Nevertheless, instead of incorporating a management style that is conducive to getting the best out of Millennials, business leaders incorrectly attempt to manage this subset of the workforce the same way they manage employees from previous generations. This must change!

Archaic methods of management do not deliver success with a new breed of employee. Instead, the outdated model leaves Millennials uninspired and lacking the desire to produce results. To get the best out of Millennials, it is imperative for leaders to modify their current management style. With over 55 million Millennials working in the United States, the largest demographic in the workplace, it is critical that they are managed effectively if companies are going to succeed. Managing Millennials: The Ultimate Handbook for Productivity, Profitability, and Professionalism delivers a profound understanding of what motivates Millennials, generates increased awareness of the different ideologies and preferences each generation in the workplace values, and most importantly, provides specific actions you can use to understand and motivate Millennials and transform your organization.

Contents

Foreword ................................................................................................xi

Acknowledgments ................................................................................ xv

Author .................................................................................................xvii

Introduction .........................................................................................xix

Section i Millennials in the Workplace

chapter 1 The Millennial Challenge .................................................. 5

Millennials Are Different from Every Other Generation

in the Workplace ...........................................................................6

Leaders Struggle to Successfully Manage Millennials ............8

Businesses Are Placing Emphasis on the Wrong

Activities to Motivate Millennials ..............................................9

Bringing It All Together ............................................................10

Endnotes ......................................................................................11

chapter 2 Generational Diversity ..................................................... 13

Millennials—Born 1980 to 1999 ...............................................14

Generation X—Born 1965 to 1979............................................16

Baby Boomers—Born 1946 to 1964 .........................................18

Ideologies and Preferences ....................................................... 20

Bringing It All Together ............................................................22

Endnote ........................................................................................22

chapter 3 The 12 Types of Millennials in the Workplace .............. 23

The Self-Centered Celebrity ......................................................24

The Steady Deliverer ...................................................................25

The Know-It-All ..........................................................................26

The High Performer .................................................................. 28

The Social Media Queen ............................................................29

The Technology Wiz .................................................................. 30

The Victim ...................................................................................31

The Grinder .................................................................................32

The I’m Too Good for That ........................................................33

The Reliable Buddy .................................................................... 34

The Apathetic Underachiever ...................................................35

The Frustrated Producer ............................................................36

Bringing It All Together ............................................................37

Section ii everything Has changed

chapter 4 It’s NOT about the Money!!! ............................................ 43

The Three Drivers of Engagement ............................................45

Time ............................................................................................. 46

Experience ...................................................................................47

Consistent Direction ................................................................. 48

Bringing It All Together ............................................................49

Endnotes ......................................................................................49

chapter 5 Transforming Operations to Meet the Needs of Today ..... 51

Traditional Management versus Agile Leadership ................52

Empower Employees to Use Their Unique Talents ...........53

Analyze Problems from Various Perspectives .................. 54

Encourage Members to Display an Intellectual

Curiosity ..................................................................................55

Fixed Mindset versus Growth Mindset ...................................55

Encourage Freedom to Explore............................................57

Endorses a Learning Culture ...............................................57

Promote a Collective Approach toward Success ...............58

Business Silos versus a Collaborative Culture ........................59

Build Trust and Allow People to See Issues from

Various Perspectives ..............................................................61

Foster Positive Energy and Eliminate Complacency ........62

Streamline Interdepartmental Projects and

Cross-Functional Responsibilities .......................................62

Maintaining Status Quo versus Embracing Change .............63

Proactive Leadership ............................................................ 64

Execute on Your Vision, Don’t Just Talk about It ............. 64

Be Unrelenting in Your Focus ..............................................65

Bringing It All Together ............................................................65

Endnotes ..................................................................................... 66

chapter 6 Uber, Lyft, Airbnb, and Millennials ............................... 67

Technology and Innovation ..................................................... 68

Teamwork and Collaboration ...................................................69

Communication Mediums and Sharing Information ...........71

Productivity over Tradition and Formalities ..........................72

The Value of Time .......................................................................73

Appearance and Attire ...............................................................74

Commitment to the Company .................................................74

Intangibles ...................................................................................75

Bringing It All Together ............................................................76

Endnotes ......................................................................................76

Section iii Beyond the Horizon

chapter 7 SSSSHHHHHH ... Little Known Secrets ........................ 81

Secrets about You (The Boss) ....................................................82

They Want You to Fire the A$$hole ....................................82

Employee Benefits Have Changed and You Need

to Adapt ...................................................................................83

Your Words Mean Nothing without Action ..................... 84

Secrets about Them (Millennials) .............................................85

They Have a FOMO on Information ...................................85

They Need to Be Part of the Big Picture and Not Just

Fulfill a Role ........................................................................... 86

They Don’t Have Engaging Experiences,

So They Lose Interest in the Company ...............................87

Secrets about the Business .........................................................87

Engaging the Entire Workforce Is the Only Way to

Have Enduring Business Results ........................................ 88

Building Sustainability Is More Important than

Short-Term Profits..................................................................89

Incorporating Technological Advances Is Critical .......... 90

Bringing It All Together ............................................................91

Endnote ........................................................................................91

chapter 8 Adapt or Die ..................................................................... 93

Technology and Innovation ......................................................95

Changing Communication Mediums .................................... 96

Smartphones, Social Media, and Sharing Information ........97

Working in a Remote Environment .........................................98

Priorities in the Workplace ...................................................... 99

Intangibles ................................................................................ 100

Bringing It All Together ..........................................................101

Endnotes ....................................................................................102

chapter 9 We Are Managers Not Magicians ................................. 103

Bringing It All Together ..........................................................105

Section iV Making changes, taking Action

chapter 10 Motivating Millennials .................................................. 109

5 Tips for Communicating Feedback to Millennials ...........111

10 Ways to Compensate Millennials That Don’t Involve

Money .........................................................................................112

5 Keys to Effectively Recognizing Millennial

Contributions ............................................................................115

10 Ways to Increase Millennial Loyalty and

Commitment to Your Organization ......................................116

5 Reasons Millennials Quit and What You Can Do to

Stop Them ..................................................................................119

5 Tips for Motivating Melancholy Millennials ...................121

Endnotes ................................................................................... 122

chapter 11 Combining Generations and Producing Results ......... 123

Five Reasons Other Generations Drive Millennials

Crazy ......................................................................................... 124

Five Reasons Millennials Think Differently than

Previous Generations . . . and How You Can Leverage

This for Good ........................................................................... 126

Five Tips on How to Balance Communication

Preferences Amongst Generations ........................................ 128

Teamwork and Collaboration: Five Tips on How to

Blend Generational Preferences ..............................................130

Combining Millennials and Baby Boomers: Five

Differences That You Will Inevitably Encounter . . . and

How to Manage Them ..............................................................132

Millennials Managing Baby Boomers: Five Keys to

Success ........................................................................................136

chapter 12 The Good, the Bad, and the Ugly .................................. 139

5 Millennial Myths ..................................................................140

10 Mistakes Leaders Make Managing Millennials . . . and

What You Can Do to Avoid Them .........................................142

5 Ways to Get Your Frontline Millennial Employees to

Care about Your Customers ....................................................144

5 Ways to Spot a Millennial Who Is Checked out . . . and

How to Get Them Back ............................................................145

5 Reasons Millennials Love Sharing Information ...............148

5 Ways to Leverage Technology to Get the Best out of

Millennials .................................................................................149

Endnotes ....................................................................................151

Conclusion .......................................................................................... 153

Index .................................................................................................... 155

Author

Kevin E. Phillips is a 2017 Top 40 Under 40 Military Honoree, MBA

graduate of the University of Michigan’s Ross School of Business, advisor

at CVS Health, United States Air Force Veteran, Center for Positive

Organizations Fellow, project management professional, and independent

consultant for entrepreneurs. For the past 15 years, he has worked in various

business industries and organizations serving as a conduit between

managers and Millennials, and knows exactly what it takes to increase

motivation, unleash talent, and transform potential into productivity.

This enables leaders to get to the root of problems quicker and discover

solutions more efficiently, leading to better business results.