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LEADING THE NEXT GENERATION

Changing Expectations of Employees of Their Employers

​

One HR: Shaping the Future of Work Together

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2

Guangrong Dai,

Senior Director, Research

Sarah Hezlett,

VP, Assessment Science

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AGENDA

Introduction and purpose (5 minutes)

Employee experience (20 minutes)

          • What attracts employees?
          • What makes employees stay?
          • Why do employees leave?

Q&A (5 minutes)

Discussion (30 minutes)

          • Small group conversations
          • Report out

​

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PURPOSE

  • To thrive, organizations need excellent people
  • Understanding what people—of all ages—are seeking helps organizations have great people
  • Examining similarities and differences give us more in-depth insights
        • Talent management cycle
          • Attract
          • Engage
          • Retain
        • People’s life cycle—different age groups

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Why age groups?

  • Challenges defining generations
  • Attributions to generations requires detailed analysis
  • Meets the need

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DRAWING INSIGHTS ON THE EMPLOYEE EXPERIENCE

KF Global Workforce Survey (2024)

  • 10,000 respondents
          • 2,000 respondents within USA by Age
          • 899 respondents within Education Industry by Age

​

KF Listen Longitudinal Database (2017-2023)

  • 6.2 million respondents
          • 604,261 respondents (734 orgs) within USA by Age
          • 55,834 respondents (7 orgs) within USA by Education Industry

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WHAT ATTRACTS EMPLOYEES: BY AGE AND INDUSTRY

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Source: KF Global Workforce Survey.

Factors considered important when looking for a job.

USA sample

Educational Sample

Total (2000)

Total (889)

<=29 (170)

30-39 (338)

40-49 (214)

>=50 (167)

Mean

Rank

Mean

Rank

Mean

Rank

Mean

Rank

Mean

Rank

Mean

Rank

Financial compensation

30.6%

2

37.8%

1

32.9%

2

36.1%

1

40.2%

2

43.1%

1

Flexible hours

33.3%

1

36.4%

2

37.1%

1

30.2%

3

43.5%

1

39.5%

2

L&D opportunities

22.8%

6

31.3%

3

30.0%

3

32.8%

2

32.2%

3

28.1%

5

Job security

26.2%

3

28.5%

4

20.6%

6

27.8%

4

30.8%

4

34.7%

3

Colleagues working with

16.6%

13

24.7%

5

26.5%

4

22.2%

6

24.8%

5

28.1%

4

Hybrid working

17.0%

11

21.5%

6

14.1%

16

23.7%

5

22.0%

6

24.0%

8

Job I like

20.3%

7

21.1%

7

22.9%

5

20.7%

8

17.8%

9

24.6%

7

Non financial benefits

18.8%

9

18.1%

8

13.5%

17

17.8%

13

16.4%

11

25.7%

6

Full-time remote

25.6%

5

18.0%

9

15.9%

13

19.8%

9

19.2%

7

15.0%

12

Status and respect

15.9%

15

17.8%

10

19.4%

7

21.3%

7

13.1%

13

15.0%

13

Short commute

16.6%

12

17.4%

11

16.5%

11

15.1%

16

18.7%

8

21.6%

9

Culture and values

16.4%

14

16.9%

12

15.3%

15

16.3%

14

16.8%

10

19.8%

10

Full-time in office

26.1%

4

16.2%

13

15.9%

14

19.5%

10

14.5%

12

12.0%

16

Diversity & inclusion

18.8%

10

16.0%

14

17.1%

10

18.6%

11

11.7%

14

15.0%

11

Sustainability practices

19.2%

8

15.6%

15

19.4%

8

18.0%

12

10.7%

15

13.2%

14

Lateral move opportunities

15.7%

16

12.8%

16

15.9%

12

14.2%

18

8.4%

16

12.6%

15

Trustworthy manager

15.5%

17

12.3%

17

17.6%

9

15.1%

15

6.1%

18

9.0%

17

Well-known brand

14.1%

18

11.2%

18

12.4%

18

14.8%

17

6.5%

17

9.0%

18

Low recent layoffs

8.5%

19

6.7%

19

8.2%

19

7.4%

19

4.2%

19

7.2%

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WHAT ATTRACTS EMPLOYEES: BY AGE AND INDUSTRY

Education Industry by Age

  • More similar than different among top rankings
    • FINANCIAL COMP (MORE IMPORTANT OLDER)
    • FLEXIBLE HOURS
    • L&D
    • JOB SECURITY (LESS IMPORTANT <29)
    • COLLEAGUES
    • HYBRID (LESS IMPORTANT <29)
    • JOB I LIKE

​

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Source: KF Global Workforce Survey.

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WHAT ENGAGES EMPLOYEES: BY AGE AND INDUSTRY

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Source: KF Global Workforce Survey.

Employer offering

USA Sample

Educational Sample

Total (2000)

Total (889)

<=29 (170)

30-39 (338)

40-49 (214)

>=50 (167)

Mean

Rank

Mean

Rank

Mean

Rank

Mean

Rank

Mean

Rank

Mean

Rank

Financial compensation

31.7%

1

36.2%

1

31.8%

2

32.5%

1

41.6%

1

41.3%

1

Colleagues working with

24.3%

6

31.3%

2

30.0%

3

25.7%

6

34.6%

2

39.5%

2

Flexible hours

28.1%

2

29.0%

3

22.9%

7

29.9%

3

29.0%

4

33.5%

3

Job security

24.0%

7

28.7%

4

26.5%

4

26.9%

5

30.4%

3

32.3%

4

Trustworthy manager

25.5%

3

28.5%

5

25.9%

6

30.2%

2

27.6%

5

28.7%

5

L&D opportunities

24.4%

4

26.7%

6

33.5%

1

28.1%

4

24.8%

6

19.2%

10

Status and respect

21.9%

9

23.3%

7

25.9%

5

24.3%

8

22.4%

7

19.8%

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Career opportunities

20.4%

12

22.0%

8

21.8%

9

24.6%

7

19.2%

9

21.0%

7

Short commute

17.3%

15

20.2%

9

16.5%

13

20.4%

11

21.0%

8

22.8%

6

Culture and values

18.8%

13

19.9%

10

22.4%

8

21.0%

9

15.4%

11

21.0%

8

Sustainability practices

21.4%

10

16.4%

11

15.9%

15

20.7%

10

13.6%

14

12.0%

17

Hybrid working

17.6%

14

16.2%

12

13.5%

17

19.2%

13

14.5%

12

15.0%

13

Full-time remote

24.3%

5

15.5%

13

17.6%

11

15.1%

17

15.9%

10

13.8%

14

Diversity & inclusion

20.7%

11

15.3%

14

21.8%

10

16.9%

14

9.8%

16

12.6%

16

Full-time in office

23.5%

8

15.3%

15

17.1%

12

16.6%

15

14.0%

13

12.6%

15

Well-known brand

16.9%

16

15.0%

16

16.5%

14

19.2%

12

10.3%

15

10.8%

18

Non financial benefits

15.3%

17

13.9%

17

12.4%

18

16.0%

16

9.8%

17

16.8%

11

Low recent layoffs

11.8%

18

12.4%

18

14.7%

16

11.8%

18

9.3%

18

15.0%

12

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WHAT ENGAGES EMPLOYEES: BY AGE AND INDUSTRY

Education Industry by Age

  • More similar than different among top rankings
    • FINANCIAL COMP (MORE IMPORTANT OLDER)
    • FLEXIBLE HOURS (LESS IMPORTANT <29)
    • COLLEAGUES (MORE IMPORTANT OLDER)
    • JOB SECURITY
    • TRUSTWORTHY MANAGER
    • L&D (LESS IMPORTANT OLDER)
    • STATUS AND RESPECT (LESS IMPORTANT OLDER)

​

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Source: KF Global Workforce Survey.

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KF LISTEN FRAMEWORK

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What our surveys measure

The results they achieve

Engagement

Committed and loyal people, willing to go the extra mile

​

Enablement

The right people in the right roles, in an enabling work environment

      • Clear and promising direction
      • Confidence in leaders
      • Quality and client focus
      • Respect and recognition
      • Development opportunities
      • Compensation and benefits
      • Performance management
      • Authority and empowerment
      • Resources
      • Training
      • Collaboration
      • Work, structure and process

Customer loyalty

Engaged � Performance™

Strong employer brand

Operational excellence

Financial performance

Attract and retain talent

Engagement Drivers

Enablement Drivers

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WHAT ENGAGES EMPLOYEES: TOP DRIVER’S

    • UNIQUE TO ENABLEMENT
      • Recognition, open and honest communications

​

    • UNIQUE TO ENGAGEMENT
      • Information, resources, and job organization, decision-making authority, idea utilization

​

    • UNIQUE TO INTENT TO STAY
      • Pay, clear strategic priorities, opportunities for advancement

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    • OVERALL DRIVERS
      • L&D opportunities
      • Progress towards career goals

Source: KF Listen database.

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WHY DO EMPLOYEES LEAVE: BY AGE AND INDUSTRY

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Source: KF Global Workforce Survey.

Employer offering

USA Sample

Educational Sample

Total (2000)

Total (889)

<=29 (170)

30-39 (338)

40-49 (214)

>=50 (167)

Mean

Rank

Mean

Rank

Mean

Rank

Mean

Rank

Mean

Rank

Mean

Rank

Low financial compensation

37.3%

1

42.7%

1

35.3%

1

39.1%

1

49.1%

1

49.7%

1

Lack of career opportunities

25.9%

4

30.7%

2

32.4%

2

32.0%

2

30.8%

2

26.3%

4

Poor culture or values

24.3%

6

28.9%

3

28.8%

3

30.5%

3

28.0%

4

26.9%

3

Lack of job security

25.6%

5

26.7%

4

24.7%

4

26.9%

6

29.4%

3

24.6%

7

Inflexible hours

26.2%

2

25.2%

5

23.5%

6

24.9%

9

27.1%

5

25.1%

6

Long or difficult commute

23.6%

8

25.0%

6

22.4%

10

27.2%

4

21.5%

7

27.5%

2

Challenges with colleagues

26.1%

3

24.3%

7

23.5%

8

27.2%

5

19.6%

8

25.1%

5

Mandated full-time in office

24.2%

7

21.6%

8

24.7%

5

25.7%

7

17.3%

10

15.6%

10

Inadequate L&D

21.7%

10

21.4%

9

22.4%

11

25.1%

8

17.3%

11

18.0%

9

Inadequate non-financial benefits

19.7%

14

20.9%

10

18.8%

13

24.6%

10

21.5%

6

15.0%

13

High recent layoffs

22.3%

9

19.1%

11

23.5%

7

21.0%

12

18.7%

9

11.4%

15

Poor sustainability practices

21.0%

12

18.3%

12

22.4%

9

21.6%

11

12.6%

15

15.0%

11

Lack of D&I

21.5%

11

17.3%

13

19.4%

12

20.4%

13

12.6%

14

15.0%

12

Relocation

20.9%

13

17.2%

14

17.1%

15

18.3%

14

13.6%

12

19.8%

8

No allowance for remote

18.8%

15

14.3%

15

17.1%

14

14.5%

16

13.1%

13

12.6%

14

Lack of affordable childcare

15.8%

16

12.1%

16

14.1%

16

16.6%

15

8.9%

16

5.4%

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WHY DO EMPLOYEES LEAVE: BY AGE AND INDUSTRY

Education Industry by Age

  • More similar than different among top rankings
    • FINANCIAL COMP (MORE IMPORTANT OLDER)
    • CAREER OPPORTUNITIES (MORE IMPORTANT YOUNGER)
    • JOB SECURITY
    • INFLEXIBLE HOURS
    • COMMUTE

​

14

Source: KF Global Workforce Survey.

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SYNTHESIS

    • UNIQUE TO ENABLEMENT
      • Recognition, open and honest communications
    • UNIQUE TO ENGAGEMENT
      • Information, resources, and job organization, decision-making authority, idea utilization
    • UNIQUE TO INTENT TO STAY
      • Pay, clear strategic priorities, opportunities for advancement

​

    • OVERALL DRIVERS
      • L&D opportunities
      • Progress towards career goals

​

15

Employer factors

Join

Stay

Leave

Financial compensation

1

1

1

Flexible hours

2

3

5

L&D opportunities

3

6

9

Job security

4

4

4

Colleagues working with

5

2

7

Hybrid working

6

 

 

Job I like

7

 

 

Non financial benefits

8

 

10

Full time remote

9

 

 

Status & Respect

10

7

 

Trustworthy manager

 

5

 

Career opportunities

 

8

2

Commute

 

9

6

Culture or values

 

10

3

Full time in office

 

 

8

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OPPORTUNITIES

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​

Short-term

Long-term

Tangible

rewards, flexible working arrangements, etc.

career system, learning & development programs, etc.

Intangible

meaningful work, community, etc.

purpose, organizational identity, etc.

Establish a holistic and unique approach to win the competition for scarce talent

A framework for designing employee experience

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Any Questions?

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DISCUSSION

What initial reactions do you have? How did this information resonate or counter the employee experience at U of M?

How can you leverage this information--short-term and long-term--to improve the employee experience at U of M?

What one action will you take to expand the reach of these insights?

(e.g., engage in a conversation with a colleague, learn more about a specific topic)

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THANK YOU

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Korn Ferry is a global organizational consulting firm. We work with our clients to design optimal organization structures, roles, and responsibilities. We help them hire the right people and advise them on how to reward and motivate their workforce while developing professionals as they navigate and advance their careers.

Business advisors.�Career makers.

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