Presented by
Hardy Simes
Innovation Leader, Office of the Future
HP
In this excerpt from the 12th Annual New Product Innovation & Development: A Frost & Sullivan Executive MindXchange Chronicles, Innovation Leader Hardy Simes talks Millennials: how they prefer to work, what they bring to the organization, and how to harness their strengths and interests to help your company succeed.
SESSION ABSTRACT
Millennials already represent the largest demographic in the workforce today, and Millennials bring new expectations to the choices they make across their work and personal lives. How do organizations create the experiences that meet needs of Millennials as employees and as customers?
KEY TAKE-AWAYS
- What Millennials Value: Key findings from research on evolving needs of modern workforce, workplace, and work styles
- Success factors for end-to-end insights to innovation – from innovation strategy to portfolio planning to experience design to business models
- Lessons learned: Cross-industry case studies, including HP’s experience reinventing approach to the traditional PC
OVERVIEW
It’s worth noting that Millennials work in different ways and places than what’s traditionally been done in the past. Millennials also don’t like labels. But we have to consider Millennials, as they form a large part of today’s working population.
Millennials care more about design. They spend more on apps. They care more about mobile printing. They like to work from home and like workplace flexibility. Millennials dedicate a lot of office time to group activities. Some of these habits are shaped by rapid urbanization, hyper globalization, accelerated innovation and changing demographics.
Millennials have completely different expectations of work. They need smaller workplaces and so offices have become smaller and are designed differently.
At HP, the workplace will be 50% Millennials by 2020. Millennials will work from multiple locations and are driving change across these 3 W’s: workplace, workstyle, and workforce. The workforce is about design, the workplace requires security to work anywhere, and the workstyle is collaborative for connecting and creating.
Millennials are destroying traditional boundaries. For example, up to 81% of their work activities may be done during personal time. There’s a projected growth of 150% of work hours outside of the office. Millennials expect technology at work to be better.
Because of the changing needs with this new millennial workforce, IT, facilities and HR need to re-focus to meet the needs of this end user. They need to consider new ways to differentiate products to accommodate the millennial’s workstyle.
TAKE-AWAYS
- Remember the megatrends – rapid globalization, for example
- Find the opportunities in changes and trends
- Look for problems in search of solutions
FINAL THOUGHT
Millennials work in different ways than what we’ve seen before. They use multiple devices and work in multiple locations. They have different demands for their office space. These factors have to be considered when trying to maximize the production of this demographic while also understanding that Generation Z is right around the corner, waiting to enter the workforce with another new set of requirements!
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