[MUSIC]
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.
