Keeping The Millennials: Why Companies Are Losing Billions in Turnover to This Generation- and What to Do About It

255 Pages·2009·3.37 MB·English

by  Joanne Sujansky

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Praise for Keeping the Millennials
“‘The Millennials are coming! The Millennials are coming!’ In this
important and timely work, you have the tips and tools that will
assist you to more effectively acknowledge and appreciate the val-
ues, mores, and culture of this growing element of our workforce.
Based on the authors’ solid research, you will learn tested techniques
to better understand Millennials and to create a more harmonious
work environment. Take their advice and ‘just do it.’”
—Edward E. Scannell,
CMP, CSP Past National President, ASTD, MPI, and NSA
Coauthor of McGraw-Hill’s Games Trainers Play series
“The most successful organizations are those that achieve ‘best in
class’ fi nancial results while growing a vibrant culture built on trust
and respect for individuals. Joanne and Jan have identifi ed the pri-
orities of the Millennials and have given us expert tools, advice, and
ideas to enable our organizations to be winners.”
—Bill Mills
Vice President of Human Resources,
GSK Consumer Healthcare North America
“In my 34 years with the University I can certainly be a testament to
the Millennials being unique. This is a must-read not only for corpo-
rate leaders but also coaches and educators. It’s fi lled with practical
tips based on solid research.”
—Carol Sprague
Senior Associate Athletic Director
University of Pittsburgh
“Any CEO who is searching for a competitive edge will fi nd Keeping
the Millennials to be THE BEST BOOK YET for attracting and
retaining the most talented and brightest employees.”
—Mary Del Brady
President and CEO
RedPath Integrated Pathology, Inc.
“Joanne and Jan hit the nail on the head! Not just the large compa-
nies but small businesses, too, are fi nding the same sense of bewilder-
ment when dealing with the new grads. And the turnover has a huge
impact on profi tability. Bravo, Joanne and Jan!”
—Emil Scarano
President, Scarano, Trump, Adelsperger & Tucek
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“When I started to read this book, I couldn’t put it down. I know
the importance of retaining high-performance employees who sup-
port patients and families at an extraordinary level of service. This
book provides techniques and tools for understanding, managing, and
keeping this talented generation—and others as well. Thanks Joanne
and Jan for this outstanding contribution to the fi eld of leadership
and talent management.”
—David Miles
CEO, The Children’s Institute
“This book captures what I see in my Millennial teachers everyday.
This generation is more fl exible and adaptable to change. Every edu-
cation administrator should read this book to help bridge the excep-
tional qualities and opportunities from all generations.”
—Elle Parker
Principal, Cleveland Public Schools
“Ever wonder why many companies spend millions recruiting 20-
somethings—only to ignore and alienate them once they’re hired? If
so, you’ll welcome the thought-provoking answers, insights, and solu-
tions provided in this page-turning book. The authors feature real-
life examples from their years of consulting with top corporations to
explain how to honor and integrate Millennials so they’re contribut-
ing members of your work team. READ IT AND REAP.”
—Sam Horn
International Communication Consultant and
author of POP! and Tongue Fu!
“This book describes what is really taking place in the corporate
world! I am a Millennial who did fi nd a job that challenges me,
offers a fl exible schedule, and gives me a chance to shine. My friends
envy me because they didn’t fi nd what I have!”
—Ashley Willoughby
Paralegal, Ness USA, Inc.
“As the parent of a 21-year-old daughter, I found myself nodding in
agreement as I read the on-target observations about her generation in
Keeping the Millennials. But what really made the book helpful were the
explanations behind the observations that allowed me to see these kids
in a different light and understand why they do the things they do.”
—Bill Koch
Cincinnati Enquirer sports reporter
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KEEPING THE
MILLENNIALS
WHY COMPANIES ARE LOSING
BILLIONS IN TURNOVER
TO THIS GENERATION—
AND WHAT TO DO ABOUT IT
JOANNE G. SUJANSKY, PhD
JAN FERRI-REED, PhD
John Wiley & Sons, Inc.
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Copyright © 2009 by Joanne G. Sujansky, Ph.D., and Jan Ferri-Reed, Ph.D. All rights
reserved.
Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
Published simultaneously in Canada.
No part of this publication may be reproduced, stored in a retrieval system, or transmitted
in any form or by any means, electronic, mechanical, photocopying, recording, scanning,
or otherwise, except as permitted under Section 107 or 108 of the 1976 United States
Copyright Act, without either the prior written permission of the Publisher, or
authorization through payment of the appropriate per-copy fee to the Copyright
Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, [phone], fax
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permission should be addressed to the Permissions Department, John Wiley & Sons, Inc.,
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http://www.wiley.com/go/permissions.
Limit of Liability/Disclaimer of Warranty: While the publisher and author have used
their best efforts in preparing this book, they make no representations or warranties with
respect to the accuracy or completeness of the contents of this book and specifi cally
disclaim any implied warranties of merchantability or fi tness for a particular purpose. No
warranty may be created or extended by sales representatives or written sales materials.
The advice and strategies contained herein may not be suitable for your situation. You
should consult with a professional where appropriate. Neither the publisher nor author
shall be liable for any loss of profi t or any other commercial damages, including but not
limited to special, incidental, consequential, or other damages.
For general information on our other products and services or for technical support,
please contact our Customer Care Department within the United States at (800)
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Library of Congress Cataloging-in-Publication Data:
Sujansky, Joanne Genova.
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. p. cm.
Includes bibliographical references and index.
ISBN 978-0-470-43851-0 (cloth)
1. Personnel management—United States. 2. Generation Y—Employment—
United States. 3. Young adults—Employment—United States. 4. Employee
motivation—United States. 5. Labor turnover—United States. I. Ferri-Reed,
Jan, 1953- II. Title.
HF5549.2.U5S94 2009
658.3'01—dc22
2008055224
Printed in the United States of America
10 9 8 7 6 5 4 3 2 1
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We dedicate this book to our fathers,
John W. Genova and Nick L. Ferri, both deceased,
and to our mothers, Mary Ellen (Mandarino)
Genova and Gloria (Ianotta) Ferri. These two
wonderful sets of parents, all from the Mature
generation, helped to make us who we are. We are
forever grateful for their love and support.
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Contents
Acknowledgments ix
1 A Generational Battle Ahead 1
2 A Workforce to Reckon With 17
3 Attracting Millennials . . . The “Cool Factor” 35
4 Those Other Children of Boomers . . . Generation X 57
5 Creating a Millennial-Friendly Culture 81
6 Managing Millennials 103
7 Millennial or Boomer? 123
8 Preparing Millennials to Lead 141
9 R U Communicating with Millennials? 163
10 Marketing to Millennials 187
11 Where to Start? 209
Notes 223
About the Authors 229
Index 231
vii
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