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The Super Materials Revolution

Dan Wellers

Thousands of years ago, humans discovered they could heat rocks to get metal, and it defined an epoch. Later, we refined iron into steel, and it changed the course of civilization. More recently, we turned petroleum into plastic, with all that implies. Whenever we create new materials that push the limits of what’s possible, we send the world down an entirely new path.

Today, we’re on the verge of a revolution in materials science that will transform the world yet again. Scientists have developed tools that make it possible to design, build, and shape new “super materials” that will eclipse what we once believed were physical limits, create previously unimaginable opportunities, and expand the capabilities of what we already think of as exponential technologies in ways limited only by our imaginations.

Super strength in a pencil

The materials of the future are already being made in the present. One astonishing example is graphene, derived from the same graphite that’s in the pencil on your desk. A sheet just one atom thick, graphene is essentially two-dimensional. It weighs next to nothing, yet is up to 300 times stronger than steel. It conducts electricity more efficiently and faster than any other material. It dissipates heat faster than any other known material. It’s the only substance on earth that is completely impermeable by gas.

Excitement about graphene’s potential was high from the first, and it’s not ebbing. At least 13 conferences focusing on graphene, 2D substances, and nanotechnology are scheduled for 2016. The European Commission has created Graphene Flagship, Europe’s largest-ever research initiative, to bring graphene into the mainstream by 2026. And researchers have already developed an array of fascinating uses for graphene: new types of sensors, high-performance transistors, composites that are both super-light and super-strong, even a graphene-based gel for spinal cord injuries that can help nerve cells communicate by conducting electricity between them.

In 2015, IBM achieved a breakthrough in carbon nanotubes — graphene rolled into a tubular shape — that opens the door to faster transistors that will pack exponentially more computing power onto a single silicon chip. In fact, taken to its logical conclusion, the ability to shrink transistors to nanoscale could lead to processors that combine vast power and tiny size in a way that could be called “smart dust” (good news for those of us who don’t prioritize good housekeeping).

But that’s not all we’ll be doing with graphene. Here are just a few examples of what researchers say this single super material is likely to bring us in the not-too-distant future:

Transparent future mobile phone in hands. Concept.
  • batteries that last twice as long as they do now and could offer electric cars a 500-mile range on a single charge.
  • solar cells that are up to 1,000 times more efficient
  • clothing that conducts electricity and has wireless connectivity
  • bendable, highly conductive display screens
  • water desalinization using 15 to 50 percent less energy
  • coatings that can be applied to almost any surface that needs protection from water and air
  • meteor-resistant spacecraft and lightweight bulletproof armor, both enabled by graphene’s ability to dissipate energy from incoming projectiles

Marveling at the possibilities

Amazingly, graphene barely scratches the surface. Consider these advanced materials, all of them currently in development, and let yourself marvel at how we might put them to work:

Nanomaterials artificially engineered at molecular scale are giving rise to cotton-blend fabric that kills bacteria or conducts electricity, a coating that makes objects so frictionless they give no tactile feedback, and ceramics that bounce back from extreme pressure.

Recyclable carbon fiber composites that can be turned back into liquid form and remolded will replace the current versions that can only go into landfills when they’re broken.

Ultra-thin silicon circuits will lead to high-performance medical instruments that can be not just worn, but implanted or swallowed.

Flexible solar cells will replace large, unwieldy solar panels with thin film that can go almost anywhere and be incorporated into almost anything, from windows to tents to clothing.

Rechargeable metal-air batteries that can store electricity in grid-scale amounts will bring plentiful low-cost, reliable energy to places that currently have unreliable or no access to the traditional power grid.

Biomaterials will allow us to build robotic structures out of engineered materials that mimic organic ones. Soft materials that can be activated by an electric field will give us a whole new take on the human/machine interface. The next generation of prosthetics, for example, will be more comfortable, more functional, and harder to distinguish from living flesh.

Metamaterials, synthetic composites designed at the inter-atomic level, will have properties not found in nature. Those of you who love Star Trek and/or Harry Potter will be thrilled at this example: Scientists have already created a thin skin of metamaterial that makes whatever it covers undetectable. That’s right—an actual invisibility cloak. (Unfortunately, non-Romulans and Muggles will probably have to wait quite a while for the retail version.)

Designing the future, one molecule at a time

More mind-boggling developments in material science are on their way. The Materials Genome Initiative (MGI) is a multi-agency U.S. government project designed to help American institutions discover, develop, and deploy advanced materials at lower cost and bring them to market in less time. One central part of the initiative is a database attempting to map the hundreds of millions of different combinations of elements on the periodic table so that scientists can use artificial intelligence to predict what properties those combinations will have. As the database grows, scientists can draw on that data to determine how best to combine elements to create new super materials that have specific desired properties.

Of course, no technological advance is without its challenges, and the rise of the super materials is no exception. One technical hurdle that’s already pressing is the need to find ways to integrate graphene into a high-tech world in which industry and academia have already invested trillions of dollars in silicon. That sum is impossible to walk away from, so unless (until?) graphene supplants silicon entirely, factories, production lines, and research centers will have to be retooled so that both materials can co-exist in the same projects.

That said, advanced materials are a fundamental building block for change, so keep your eye on them as they develop. As super materials become exponentially easier to produce, we’ll start to see them in common use — imagine 3D printers that can create new objects with high-performance computing and battery power literally baked in. As they become more common, expect to see them weaving exponential technologies tightly into the fabric of daily life, both literally and figuratively, and bringing us ever-closer to a world of ambient intelligence. And as these foundation-shaking new materials become ubiquitous, it’s likely that they’ll make today’s technological marvels seem like a preschooler’s playthings.

Download the executive brief Super Materials: Building the Impossible

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To learn more about how exponential technology will affect business and life, see Digital Futures in the Digitalist Magazine.

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About Dan Wellers

Dan Wellers is the Global Lead of Digital Futures at SAP, which explores how organizations can anticipate the future impact of exponential technologies. Dan has extensive experience in technology marketing and business strategy, plus management, consulting, and sales.

Pulling Cities Into The Future With Blockchain

Dan Wellers , Raimund Gross and Ulrich Scholl

The next wave of the digital economy is just over the horizon, and it could be built on the blockchain.

Blockchain technology has been rapidly growing in influence since 2015, when it became apparent that the technology underlying the relatively arcane concept of cryptocurrency could transform the financial system. By the end of 2016, major players like Bank of America and Goldman Sachs were laying claim to promising blockchain technologies, filing patents at roughly twice the pace they had at the start of the year.

Enthusiasm for blockchain is not just accelerating, but spreading beyond financial services, as SAP and other global organizations consider all the ways it could remove friction and risk in business transactions. From traditional vendors like IBM and Microsoft to leading consultancies including Accenture and Deloitte, some of the world’s biggest companies are acknowledging themany possibilities inherent in the ability to maintain distributed, tamper-proof ledgers that permanently and transparently record transactions. Yet as promising as blockchain already is, the business world may still be underestimating how profoundly it could change transactions, organizations, and industries. It could ultimately change the entire economy.

Trustworthy data and interactions are the cornerstone of the digital economy. As the physical world becomes ever more quantified, being able to guarantee the integrity and provenance of digital and physical assets and the transactions in which they’re involved will become a core competitive advantage — and blockchain is deliberately designed to embed that guarantee in every transaction. Distributed ledgers, smart contracts, and other blockchain technologies could form the foundation on which other exponential technologies combine and scale.

The basic idea is simple: IoT sensors in drones, autonomous vehicles, 3D printers, and augmented/virtual reality gear would collect and record data in blockchain-based decentralized ledgers. This data would be immediately verified and could be made instantly available for use by any application. Smart contracts programmed into the blockchain would then execute business processes by drawing on these vast repositories of live data. Everything could be further automated by adding artificial intelligence into blockchain smart contracts to make decisions without human involvement.

Here are just a few of the possibilities that could be someday realized on a blockchain framework:

  • Democratized design and manufacture: A blockchain-enabled design and manufacturing platform would allow individuals and small businesses to play a larger role in the digital economy. Products designed from scratch in virtual reality, as well as copies of existing objects scanned with machine vision, could be easily bought, sold, shared, or even digitally remixed, at an affordable cost while protecting intellectual property rights. This would be true whether the work was complex multi-material physical products made with distributed 3D printers — or text, music, and images.
  • Autonomous logistics: Intelligent, self-driving delivery vehicles could shuttle products and materials to their destinations, or even use onboard 3D printers to create them in the location where they’re needed, while using blockchain technology to execute and verify every transaction. Machine learning apps programmed into smart contracts, which are also embedded in the blockchain, could optimize routing. This could make the current centralized model of warehousing and logistics obsolete.
  • Distributed commerce: Combining blockchain with virtual reality, 3D scanning and printing, artificial intelligence, and autonomous vehicles could create immersive, personalized shopping experiences anywhere consumers want to have them. Shoppers could grant permission for vendors to access their purchase history, preferences, and other data stored on a blockchain ledger. Vendor AIs could then generate more accurate recommendations and interact with ecommerce bots that complete purchases automatically. Customers would receive promotions for new styles, medication refills, or replacement parts without even having to think about it. Critically, blockchain would allow buyers to limit access to their personal or proprietary data to specific organizations over a defined period of time, for example, until the end of their shopping experience or the close of their fiscal year.

This may seem like far-future speculation, but a provocative white paper from consulting firm Outlier Ventures Research claims this shift is both inevitable and already underway.

Envisioning the future city

The more technologies we connect using the blockchain as a framework, the more value we can derive. Imagine that a city has a digital ledger in which every house or apartment has a presence containing all relevant information about the home, from property ownership and mortgage balance to transactional data like utility use, property tax assessment, and past and current contractor relationships. The city could access this “digital twin” to coordinate services and perform administrative tasks related to the property more efficiently and with greater accuracy. The property owner would have a verified, trustworthy way to perform transactions like renting a room, hiring contractors to do lawn work, or selling power generated by solar panels back to the grid. The city utility company could feed power consumption data into an AI to generate energy-saving recommendations, and leverage smart contracts that automatically manage power consumption between smart appliances and the grid to lower costs and improve energy efficiency.

By linking together multiple technologies, this “smart city” could then begin to automate basic city services. For example, IoT sensors could instantly sense a problem (say, a downed electrical cable) and alert the appropriate city agency’s AI to dispatch a technician. The AI might help the technician assess the necessary repair through AR glasses, send templates for parts to the 3D printer in the technician’s truck, reimburse the parts designer through a smart contract, and guide the repair via the AR glasses before finally informing the city agency and property owner when the repair is complete.

Now imagine extending that to the city’s broader infrastructure. A business traveler hops into an autonomous electric taxi at the airport and tells it to take her to a meeting in the city center. Knowing from traffic sensor data that there’s been an accident on the highway, the car automatically chooses an alternate route that ends at the parking lot nearest its destination with an available outlet for charging. As the car parks itself, it connects to an outlet that bills the taxi company in real time for the amount of electricity needed to top up the car battery. As the traveler leaves the parking lot and connects to the city’s public wifi via a social media account, she immediately receives a push notification with a discount at the nearby coffee shop. She stops for coffee and heads for her destination, where the elevator recognizes her phone and automatically takes her to the correct floor for her meeting, right on time.

Meanwhile, city staff can monitor the taxi’s safe operation and ensure the taxi company bills accurately for the ride, check traffic status and push out notifications to all affected drivers, make sure parking is available, confirm the traveler’s opt-in agreement for city wifi, provide the coffee shop’s owner with information on the effectiveness of the day’s coupon, and confirm that the building’s elevators are functioning according to the latest safety codes. Every interaction is transparent, verifiable, and nearly impossible to fake or alter — and just as importantly, it adds to a vast store of data the city can then use machine learning to analyze for future improvements and efficiencies.

A multitude of possibilities

The disruptive potential of already exponential technologies multiplies by orders of magnitude when they can intersect and combine. With blockchain creating the framework for that to happen, it’s not entirely hyperbole to put the potential economic transformation on par with the Industrial Revolution. But companies can’t simply wait until digital transformation is upon us.  Organizations need to start right now to think through the likely impacts in a disciplined and proactive way. Developing scenarios for the multitude of possibilities prepares us to maximize positive outcomes.

Read the executive brief Running Future Cities on Blockchain.

Learn how your business can Run Live with blockchain.


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About Dan Wellers

Dan Wellers is the Global Lead of Digital Futures at SAP, which explores how organizations can anticipate the future impact of exponential technologies. Dan has extensive experience in technology marketing and business strategy, plus management, consulting, and sales.

Raimund Gross

About Raimund Gross

Raimund Gross is a solution architect and futurist at SAP Innovation Center Network, where he evaluates emerging technologies and trends to address the challenges of businesses arising from digitization. He is currently evaluating the impact of blockchain for SAP and our enterprise customers.

Ulrich Scholl

About Ulrich Scholl

Ulrich Scholl is Vice President of Industry Cloud and Custom Development at SAP. In this role, Ulrich discovers and implements best practices to help further the understanding and adoption of the SAP portfolio of industry cloud innovations.

The Future of Learning - Keeping up With The Digital Economy

Dan Wellers and Michael Rander

Learning is perhaps the only area still largely untouched by digital transformation. It’s not just that curriculums aren’t keeping up with the skills required for a future of exponential change in which skills learned today can be obsolete in years or even months. Our entire standard approach to education — top-down, one-size-fits-most, heavily biased against collaboration, and generally ending in young adulthood at the latest — has barely changed since the industrial revolution.  No wonder the status quo is a poor match for an imminent future in which entire groups of people within specific job types and industries will be made redundant by automation and will desperately need new skills to adapt to the changing workplace.

Granted, it’s now possible to download smartphone apps that turn foreign language learning into a game, squeeze bite-sized lessons in everything from history to coding into ten-minute blocks of free time, or quantify various non-classroom activities as work-related training. But while these technologies can be efficient tools to help individuals acquire specific new skills and prove what they already know, they ignore the much more pressing and universal issue: the future is digital, and anyone whose skills are insufficient, inadequate, or outmoded will be left behind. If we hope to have a real impact and avert the potential disaster of massive, permanent global unemployment, we must also radically rethink learning at the societal level.

Technology is not enough

Researchers at the University of Southern California are working to develop a cognitive neural prosthesis they hope will allow people with traumatic brain injuries to literally download muscle memory and motor function. If it works, we may in the future be able to buy or rent knowledge as we need it and import it into our minds in minutes, Matrix-style.

That’s an enormous “if,” though, and it’s not going to come soon enough.

USC research notwithstanding, a true learning revolution seems unlikely to arise in the near future. Indeed, our fundamental models of acquiring knowledge have changed very little in the last 15 years. Yet in the same timeframe, the digital economy has convulsed the workplace.

Large global organizations are already struggling with the inability to find or train enough employees with the right types of skills to keep them competitive. At the same time, digitization is affecting entire industries in ways so rapid and profound that it could be described as an extinction event. We are, for example, probably no more than a decade away from a wrenching dislocation in trucking, taxis, delivery services, and other transportation-based businesses as truly autonomous vehicles make human delivery drivers a relic of a bygone era.

These dramatic changes in the workforce are hollowing out the middle class and creating a need that cannot be filled by our current systems of learning. Instead, we must work together to address them at a systemic level.

The true question for forward-thinking companies

The question we face now, as individuals, as businesses, and as a society, is what we will do when the digital economy ejects vast numbers of people from their jobs, and they lack the skills needed to find new ones. If we hope to address this question, the standard model of learning needs to change — and business needs to take a leading role in driving that change, says Jenny Dearborn, Senior Vice President and Chief Learning Officer for SAP.

For example, she notes, the 100 largest companies in the United States collectively employ 18 million people, yet the entire country spends only .1% of GDP on job retraining, workforce development centers, and adult education subsidies.

Much of that spending is in community or corporate siloes. For example, many organizations are expanding their talent pool by reaching out to local schools and colleges to improve collaboration. SAP is already taking steps in this direction through high school partnerships such as those with Skyline High School in Oakland, California, and Business Technology Early College High School in Queens, New York, where students get hands-on workplace training from SAP employee mentors and graduate with both a high school diploma and a technology-focused associate degree from a local two-year college.

These piecemeal and individual corporate efforts are successful, but they can only go so far. And this issue isn’t limited to the United States; it’s a global economic imperative in which every major employer worldwide has a responsibility to participate.

A higher degree of learning

So what might we do? Dearborn has a few suggestions:

We could create bold programs to educate adults and advance innovation. China is reportedly investing $250 billion a year in young adult education. The US did something similar after World War II by introducing the GI Bill. Why not revisit the idea as a national or even multinational program?

We could invest more in technical and vocational teachers, both to recruit more to the field and to increase the number of students they can serve.

We could revive the apprentice model and implement it at a much broader level in the corporate world. This would give students and new graduates much earlier exposure to the real world of work, while allowing them to earn both experience and a salary in the process. Hilton Worldwide, for example, offers a range of apprenticeship programs in Europe for young people who want to work in the hotel industry.

We could increase tax incentives for investing in proven effective methods of closing skills gaps: internal employee training and development, involvement with local schools and communities, external training and certification programs, and veteran hiring programs.

Most of all, we could break down the geographic and political siloes that hinder adult job and skills training and retraining programs. Imagine the impact the CLOs of those 100 leading US companies could have if they worked together. Now imagine expanding that worldwide. In addition to coordinating among CLOs, employers must work with national, regional, and local programs that target adult learners so we can multiply effectiveness, eliminate redundancies, and share best practices.

Doing this will help every business compete in an increasingly global economy with a tight market for skills, but it will also have a much broader outcome. Since business has helped to create the workplace risks and challenges of the digital economy, we also bear some collective responsibility for mitigating them. In doing so, we will have enormous influence in shaping the future of learning — and the future of business itself.

Read the executive brief Taking Learning Back to School.


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About Dan Wellers

Dan Wellers is the Global Lead of Digital Futures at SAP, which explores how organizations can anticipate the future impact of exponential technologies. Dan has extensive experience in technology marketing and business strategy, plus management, consulting, and sales.

About Michael Rander

Michael Rander is the Global Research Director for Future Of Work at SAP. He is an experienced project manager, strategic and competitive market researcher, operations manager as well as an avid photographer, athlete, traveler and entrepreneur. Share your thoughts with Michael on Twitter @michaelrander.

Taking Learning Back to School

Dan Wellers

 

Denmark spends most GDP on labor market programs at 3.3%.
The U.S. spends only 0.1% of it’s GDP on adult education and workforce retraining.
The number of post-secondary vocational and training institutions in China more than doubled from 2000 to 2014.
47% of U.S. jobs are at risk for automation.

Our overarching approach to education is top down, inflexible, and front loaded in life, and does not encourage collaboration.

Smartphone apps that gamify learning or deliver lessons in small bits of free time can be effective tools for teaching. However, they don’t address the more pressing issue that the future is digital and those whose skills are outmoded will be left behind.

Many companies have a history of effective partnerships with local schools to expand their talent pool, but these efforts are not designed to change overall systems of learning.


The Question We Must Answer

What will we do when digitization, automation, and artificial intelligence eject vast numbers of people from their current jobs, and they lack the skills needed to find new ones?

Solutions could include:

  • National and multinational adult education programs
  • Greater investment in technical and vocational schools
  • Increased emphasis on apprenticeships
  • Tax incentives for initiatives proven to close skills gaps

We need a broad, systemic approach that breaks businesses, schools, governments, and other organizations that target adult learners out of their silos so they can work together. Chief learning officers (CLOs) can spearhead this approach by working together to create goals, benchmarks, and strategy.

Advancing the field of learning will help every business compete in an increasingly global economy with a tight market for skills. More than this, it will mitigate the workplace risks and challenges inherent in the digital economy, thus positively influencing the future of business itself.


Download the executive brief Taking Learning Back to School.


Read the full article The Future of Learning – Keeping up With The Digital Economy

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About Dan Wellers

Dan Wellers is the Global Lead of Digital Futures at SAP, which explores how organizations can anticipate the future impact of exponential technologies. Dan has extensive experience in technology marketing and business strategy, plus management, consulting, and sales.

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Why Millennials Quit: Understanding A New Workforce

Shelly Kramer

Millennials are like mobile devices: they’re everywhere. You can’t visit a coffee shop without encountering both in large numbers. But after all, who doesn’t like a little caffeine with their connectivity? The point is that you should be paying attention to millennials now more than ever because they have surpassed Boomers and Gen-Xers as the largest generation.

Unfortunately for the workforce, they’re also the generation most likely to quit. Let’s examine a new report that sheds some light on exactly why that is—and what you can do to keep millennial employees working for you longer.

New workforce, new values

Deloitte found that two out of three millennials are expected to leave their current jobs by 2020. The survey also found that a staggering one in four would probably move on in the next year alone.

If you’re a business owner, consider putting four of your millennial employees in a room. Take a look around—one of them will be gone next year. Besides their skills and contributions, you’ve also lost time and resources spent by onboarding and training those employees—a very costly process. According to a new report from XYZ University, turnover costs U.S. companies a whopping $30.5 billion annually.

Let’s take a step back and look at this new workforce with new priorities and values.

Everything about millennials is different, from how to market to them as consumers to how you treat them as employees. The catalyst for this shift is the difference in what they value most. Millennials grew up with technology at their fingertips and are the most highly educated generation to date. Many have delayed marriage and/or parenthood in favor of pursuing their careers, which aren’t always about having a great paycheck (although that helps). Instead, it may be more that the core values of your business (like sustainability, for example) or its mission are the reasons that millennials stick around at the same job or look for opportunities elsewhere. Consider this: How invested are they in their work? Are they bored? What does their work/life balance look like? Do they have advancement opportunities?

Ping-pong tables and bringing your dog to work might be trendy, but they aren’t the solution to retaining a millennial workforce. So why exactly are they quitting? Let’s take a look at the data.

Millennials’ common reasons for quitting

In order to gain more insight into the problem of millennial turnover, XYZ University surveyed more than 500 respondents between the ages of 21 and 34 years old. There was a good mix of men and women, college grads versus high school grads, and entry-level employees versus managers. We’re all dying to know: Why did they quit? Here are the most popular reasons, some in their own words:

  • Millennials are risk-takers. XYZ University attributes this affection for risk taking with the fact that millennials essentially came of age during the recession. Surveyed millennials reported this experience made them wary of spending decades working at one company only to be potentially laid off.
  • They are focused on education. More than one-third of millennials hold college degrees. Those seeking advanced degrees can find themselves struggling to finish school while holding down a job, necessitating odd hours or more than one part-time gig. As a whole, this generation is entering the job market later, with higher degrees and higher debt.
  • They don’t want just any job—they want one that fits. In an age where both startups and seasoned companies are enjoying success, there is no shortage of job opportunities. As such, they’re often looking for one that suits their identity and their goals, not just the one that comes up first in an online search. Interestingly, job fit is often prioritized over job pay for millennials. Don’t forget, if they have to start their own company, they will—the average age for millennial entrepreneurs is 27.
  • They want skills that make them competitive. Many millennials enjoy the challenge that accompanies competition, so wearing many hats at a position is actually a good thing. One millennial journalist who used to work at Forbes reported that millennials want to learn by “being in the trenches, and doing it alongside the people who do it best.”
  • They want to do something that matters. Millennials have grown up with change, both good and bad, so they’re unafraid of making changes in their own lives to pursue careers that align with their desire to make a difference.
  • They prefer flexibility. Technology today means it’s possible to work from essentially anywhere that has an Internet connection, so many millennials expect at least some level of flexibility when it comes to their employer. Working remotely all of the time isn’t feasible for every situation, of course, but millennials expect companies to be flexible enough to allow them to occasionally dictate their own schedules. If they have no say in their workday, that’s a red flag.
  • They’ve got skills—and they want to use them. In the words of a 24-year-old designer, millennials “don’t need to print copies all day.” Many have paid (or are in the midst of paying) for their own education, and they’re ready and willing to put it to work. Most would prefer you leave the smaller tasks to the interns.
  • They got a better offer. Thirty-five percent of respondents to XYZ’s survey said they quit a previous job because they received a better opportunity. That makes sense, especially as recruiting is made simpler by technology. (Hello, LinkedIn.)
  • They seek mentors. Millennials are used to being supervised, as many were raised by what have been dubbed as “helicopter parents.” Receiving support from those in charge is the norm, not the anomaly, for this generation, and they expect that in the workplace, too.

Note that it’s not just XYZ University making this final point about the importance of mentoring. Consider Figures 1 and 2 from Deloitte, proving that millennials with worthwhile mentors report high satisfaction rates in other areas, such as personal development. As you can see, this can trickle down into employee satisfaction and ultimately result in higher retention numbers.

Millennials and Mentors
Figure 1. Source: Deloitte


Figure 2. Source: Deloitte

Failure to . . .

No, not communicate—I would say “engage.” On second thought, communication plays a role in that, too. (Who would have thought “Cool Hand Luke” would be applicable to this conversation?)

Data from a recent Gallup poll reiterates that millennials are “job-hoppers,” also pointing out that most of them—71 percent, to be exact—are either not engaged in or are actively disengaged from the workplace. That’s a striking number, but businesses aren’t without hope. That same Gallup poll found that millennials who reported they are engaged at work were 26 percent less likely than their disengaged counterparts to consider switching jobs, even with a raise of up to 20 percent. That’s huge. Furthermore, if the market improves in the next year, those engaged millennial employees are 64 percent less likely to job-hop than those who report feeling actively disengaged.

What’s next?

I’ve covered a lot in this discussion, but here’s what I hope you will take away: Millennials comprise a majority of the workforce, but they’re changing how you should look at hiring, recruiting, and retention as a whole. What matters to millennials matters to your other generations of employees, too. Mentoring, compensation, flexibility, and engagement have always been important, but thanks to the vocal millennial generation, we’re just now learning exactly how much.

What has been your experience with millennials and turnover? Are you a millennial who has recently left a job or are currently looking for a new position? If so, what are you missing from your current employer, and what are you looking for in a prospective one? Alternatively, if you’re reading this from a company perspective, how do you think your organization stacks up in the hearts and minds of your millennial employees? Do you have plans to do anything differently? I’d love to hear your thoughts.

For more insight on millennials and the workforce, see Multigenerational Workforce? Collaboration Tech Is The Key To Success.

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