InterfaceFLOR - The M Factor - book review
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InterfaceFLOR - The M Factor - book review
- 1. Book Review
- 2. Objectives Who are Millenials? Why should we care? 7 trends that make up the “M-Factor” How will they change the office environment?
- 3. Did you know? In 2006, the U.S. population passed 300mm In 2036, the U.S. population will pass 400mm That boom will translate into an additional 100 billion sq. ft. of non-residential office space Source: Workplace - The Millenial Generation by Dana Galvin
- 4. FactBy 2020, <50% of the workforce will be Millennials
- 5. The MillennialsBorn between 1984 and 2000
- 9. IDK NBD B4N IMU KIT POS KHUF LMK MUYM N2K SUP They even invented their own language… I don‘t know No big deal Bye for now I miss you Keep in touch Parents over shoulder Know how you feel Let me know Make up your mind Need to know What‘s up
- 10. 7 M-Factor Trends Parenting Entitlement Meaning Great Expectations The Need for Speed Social Networking Extreme Office Makeover
- 11. Parenting Facts 38% of college students admitted their parents had either called in or attended meetings with their academic adviser. 31% of students reported their parents had called professors to complain about a grade.
- 12. Parenting “I would consider my parents to be 2 of my best friends. They are definitely who I look to for advice…” - Ashley Strub, age 24, allergy consultant, ALK - Abello
- 13. Parenting Millennials are comfortable connecting with older generations
- 14. Entitlement “These doggone Millennials expect the moon!” “It’s all about what we can give them.” “They want to be running the department in 3 months.”
- 15. Entitlement
- 16. Entitlement
- 17. Entitlement
- 18. Meaning “9 out of 10 Millennial interviewees said meaning wasn’t just important, it was the most important factor in their work lives.”
- 21. The Need For Speed
- 22. The Need for Speed Fact – “49% of employers surveyed said the biggest gap between workers >29 years old and those older is that Millennial workers communicate more through technology rather than in person.”
- 23. The Need for Speed
- 24. The Need for Speed
- 26. Social Networking Fact - More than 150,000 Americans are on Facebook!!!
- 28. Extreme Office Makeover Gen X experience
- 29. Extreme Office Makeover Fact – 28% of Millennials reported leaving a job because they felt disconnected from the organization Library – Univ. of Buffalo
- 31. Flexible
- 33. Extreme Office Makeover – Fun! BBC – London, UK Bravo – NY, NY
- 39. Extreme Office Makeover - Flexible In the past….
- 40. Extreme Office Makeover - Flexible
- 41. Extreme Office Makeover - Flexible
- 42. Extreme Office Makeover - Flexible
- 43. Extreme Office Makeover - Collaboration “#1 way a new hire learns is from overhearing conversations of veterans on staff.” - Bruce Simoneaux, Applied Research Consultant, Steelcase
- 44. Extreme Office Makeover - Collaboration
- 45. Review Learned who makes up the “Millenialls” Discussed why we should care 7 trends affecting the workplace Parenting Entitlement Meaning Great Expectations The Need for speed Social Networking Extreme Office Makeover
- 46. Thank you!
Notes de l'éditeur
- Love this book. It was witty. Had great stories. And had practical suggestions that can be immediately implemented. All facts, figures and quotes referenced in this presentation come directly out of this book unless otherwise noted.A significant portion of this book is directed towards managers who are having to deal with recruiting, engaging and retaining Millennials in the work place. That is a major challenge facing employers today and can be a presentation on it’s own. Although that is great information, that is not what we are going to be focusing on today. Our main focus is going to be what you need to know as a sales person to more effective sell to this generation and how they will be affecting the office environments of the future. Please note that some of this information will not be new to you. We’ve been talking about Generation Y for a while. You may have seen Amy Lukken present on this previously. Or, you may be in generation Y or have children that are. The more we talk and learn about this topic the better we are all going to be at connecting and selling to this generation.
- Our objectives today will be:First - briefly cover who are the Millennials and what events and technologies have shaped their world view.Two – Why does this matter to us as InterfaceFLOR Sales and Marketing professionalsThree – What are the 7 major trends that make up the M-Factor? The M-Factor is essentially the major changes that will be shaping the work force and work spaces of tomorrow.Four – How are all of those trends going to be shaping the office environment that makes up almost half of our business?
- First, some facts and predictions.In 2006, the U.S. population surpassed 300 MM people. In only 25 more years in 2036, the population is predicted to surpass 400 MM people! That is a huge jump in a relatively short period of time. That jump in population will translate into an additional 100 billion sq. ft. of non-residential office space. Forget about the renovations, that’s just new construction.
- AND that jump in population will mostly be concentrated in one particular generation…The Millennialls.Look at this chart…about 50% of the workforce population in the year 2020 (less than 9 full years from now) will a Millennial. If you add in the Generation 2020 which has yet to even graduate high school, they will make up over 60% of the workforce!!!You are probably wondering how that can be. Well, the Millennial generation is actually 3 X’s larger than Generation X. As an X’er myself, I always wondered why there weren’t that many people my age working at Interface. Now I know why. I am a rare bird. But after learning more about the Millenials, I’m looking forward to the changes this group will be bringing with them when they take over.
- So who are the Millennials? They were born approximately between the years 1984 and 2000.They are significantly more diverse than any of the previous generations and much more open to alternative lifestyles.
- This generation grew up with a personal computer in their hands at a very early age. They have never known a world without one.Google has opened a world of information to them. Topics from nuclear engineering to what Brittany Spears is wearing today is only a click away.Facebook has revolutionized our ability to stay connected to an ever growing network of friends, family co-workers and even random acquaintances. The average Millennial has 387 Facebook “friends.”And Apple has come of age right before their eyes creating innovative and aspiring technology solutions that have added value to their lives.
- Unfortunately, there have been some rather traumatic and horrific events on our shores during their most impressionable years. These events have happened at home. Not some far away place.The massacres at Columbine and Virginia Tech.The 9/11 Terrorist attacks.Hurricane Katrina along the Gulf Coast.
- The partial result of some of these events and technologies are that many families are now able to stay closer than ever before. With cell phones, web chats and Skype, physical distance is no longer a barrier to staying in touch.Millennials have seen a minority from meager beginnings rise up to attend Harvard and become the President of the United States before turning 50. They see no limit to what they can achieve.We are now living in a global age when all of the worlds economies are interrelated through globalization. Technology has enabled us to connect and have relations with people all over the world.This global awareness has translated into a respect for the larger environment around them. In many ways, Millennials see it as their job to clean up the messes made by previous generations.
- Heck, this generation even had the audacity to create their own language.
- In the last few decades….In addition to advancements in communications technology, fears about violence and crime have increased parent child interdependence. With the knowledge that fear sells and never ending cable news cycles, our news sources have helped create a public that is more concerned then ever about violent crime. In fact, violent crime rates have continued to steadily decline over the last few decades. One result is that, fewer kids walk to school today or wander the neighborhood unsupervised. One other factor crept into parenting…the belief that we can control the way our kids turn out. From parent - child relationships to parent – so-called “protégé relationships”. Those tight relationships carry from childhood all of the way through college. 38% of college students admitted their parents had either called in or attended meetings with their academic adviser.31% of students reported their parents had called professors to complain about a grade.Parents no longer “hover”. They get in your face.
- As an x’er, I could wait to show my independence from my parents no matter how hard I knew I would need to struggle. Millennials feel much closer to their parents and are comfortable living with them well after college.Due to the economy and their tight relationships with mom and dad, among 2009 U.S. college graduates, 80% moved back home with their parents after graduation.This quote sums it up rather well….“I would consider my parents to be 2 of my best friends. They are definitely who I look to for advice. When I was trying to figure out the benefits of my job, what I should opt out of, how much should I put in my stock purchase plan….for all of those questions, I asked them…It’s great to have those close relationships because they have been where we are before and have made those mistakes so we can learn from them.”
- So what does this mean to you as an AE? The positiveresult of these tight relationships is that Millennials are more eager to collaborate and enjoy interactions with older generations and they are more receptive generation of mentees. You have no need to fear irrelevance if you stay up with technology and culture. You will need to evolve. Your age will not be an obstacle to them.Ask a Boomer or an X’er how they would have felt if their parents would have followed them to work and they’ll tell you “they would have died.” Ask Millennials about it, and they say “Why not?”In the future we may start to see “Bring your parent to work” days become just as common as “bring your child to work” days.
- Here are some quotes you may here thrown about regarding Millennials…. Is this true? Yes and no. This generation has been raised to expect a lot and to ask for what they want. At times the accusation of entitlement gets thrown around too readily and is often a cover for other issues. It’s easier to blame this generation for being spoiled than examine what’s really going on.
- Sometimes a Millennial can be griping because a job is uninteresting. These are folks that have been multitasking before they even hit Kindergarten! They have managed playing 3 sports, honors classes and volunteer work. They are very good at multi-tasking. It’s not that they feel “entitled”, it’s that they want to stay stimulated and engaged. At other times, if an employee is constantly agitating to do more, it can be interpreted that they are unappreciative of the job they have. On the other side, it can be a really good thing to have willing hands ready to jump in when a need arises and be a sign of employee engagement.
- Many Millennials have accomplished amazing things by the time they graduate college. Not everyone can be as successful as Mark Zuckerburg at facebook.But, many have run their own nonprofit, managed budgets for their sports teams, published their own blog, sold items on Ebay, traveled to numerous countries around the world. Heck, now kids can e-mail and get twitter feeds from the President of the United States.
- Now let’s talk about the dark side of Entitlement and what it means to you as an AE…1 – A cult of customization – Boomers had mega brands like Levi’s and Wheaties. Xer’s had the anti-brands that started under the radar and morphed into a movement such as Apple Computer. For Millenials, marketers have moved away from big brands and anti-brands to “creating your own brand.” Take a look at these iphone cases or the Scion website for customized your new car pre-market, rather than after-market.If we thought the X’ers did a lot of customs, we haven’t seen anything yet. “Design Your Floor” will resonate well with this group.2 – “I want it yesterday” – If we thought the last generation was impatient, we’ve got another thing coming now. With instant movies on demand and being able to make instant downloads from itunes and amazon.com 24 hours a day for next day delivery, it can never be fast enough. They think that e-mail is “snail mail”. Their texts outnumber e-mails by a factor of 3 to 1. That’s not even including IM’s (instant messaging).This instant everything philosophy also carries into work life. Waiting 5 years or more for a promotion why not fly with this group. They will take their ball and play somewhere else if recognition and responsibility does not come soon enough.3 – Trophies for everyone – Our system of grading has changed in recent decades. ‘A’ used to stand for achievement. Now ‘A’ stands for attempting. In one survey of students at UC Irvine, 40% of students believed they deserved a ‘B’ simply for completing the required reading in a course. If you are mentoring a Millenial, you may have to explain the concept that not everyone gets a trophy in the real world. Only the best who excel will be able to stand out from the crowd and be rewarded.
- The 3rdmajor M-Factor trend among Millennials is a desire for meaning in their work. Yes, they want good pay, stimulating work and a great boss just like the rest of us. But beyond that, they want to find meaning in what they do. Many of the Millennials interviewed for this book who loved their jobs, talked incessantly about meaning – the feeling they are making a difference. They place a premium on the “psychic income” they derive from work. Their parents have told them to follow their passions. Millennials have been raised with a global awareness of everything from political issues to poverty and the environment. In many ways,as we mentioned before, Millennials see it as their job to clean up the messes of previous generations.Especially in the world of design, our own climb up Mt. Sustainability that places profound meaning behind everything we do plays very strongly with this generation. Many design schools talk about Ray Anderson and Mt. Sustainability in their first year. Our message of sustainability and the Power of One will hit home big time with Millennials.For extra brownie points, *Organize a program for Millennials in your territory to give back and make a difference in the world. It could be a local recycling drive or something benefitting a particular community. Connect yourself with programs that will add a sense of meaning to their world.
- This chapter mostly dealt with the major gaps that often exist between Millennial expectations of prospective employers and what the reality of the daily work life actually turns out to be. Since we are in sales and not HR, I took out one piece that I thought would be most relevant to us. First impressions and creative marketing is key to Millennials. By the time they hit the workforce, they have literally seen millions of commercials. They’ve seen countless campaigns that have entertained, engaged and informed them.
- If you were selling to a traditionalist or a Baby Boomer, a black and white product brief may make an impact and be all that you need.If you were selling to Gen Xer, maybe a 4 color brochure will do the trick.But if you are selling to a Millenial, they expect to be dazzled. The use videos and music is key. It must be dynamic or it will be forgotten along with the thousands of other passive pieces of marketing material they filter out ach day. If it’s not worthy opf being “liked” on facebook or youtube, it’s probably not liked much by Millennials either. This great video was produced by a group from Gensler in Chicago. This was part of the Chi Tile Mark Your Mark Movie campaign put on in part by Vicki, Katelin, Molly and Paul in the Chicago office. This is edgy, fun and most importantly unique. This is something you would LIKE on Facebook or Tweet about to your friends and coworkers. If you want buzz, you need to share something buzz worthy.Other Buzzworthy videos would be the Cody Marlowe Band videos Oakey shared at the Sales Meeting and the Discovery Channel Factory Made video. I’ll send out links to both of these great and engaging videos at the end of this call.
- When it comes to pace, Millennials are increasing the rate of speed at which they do things and also the speed at which they expect communication, feedback and promotions. They don’t have to wait for the nightly news at 11PM, they can hop on a website via phone, computer or cable news. They are not just connected, but Hyper-Connected.Your response time to this generation is absolutely critical if you want to be relevant to them.
- Fact – “49% of employers surveyed said the biggest gap between workers >29 years old and those older is that Millennial workers communicate more through technology rather than in person.”Forget about letters, we now have text and instant messaging to participate in real time chat online. Even Facebook has instant messaging.Before dropping by for an appointment, why don’t you send a quick IM and give someone a heads-up? One of the great things about IM chats is that it eliminates back and forth e-mailing. You can have an entire conversation and get resolution before hopping off the chat.
- If you really want to take your game and customer intimacy to the next level. Then try out video chat via Facebook, Face Time, Google Talk, Skype or the many other applications that are out there. Many people have made comments about how much more engaging they find my webinars since I have added my webcam. People want to see your face. It completely changes the entire feel of the conversation. I get a lot of push back from some folks about sharing their video online, but you need to know, this is the way of the future. You may not want to do web chats, but just know, your competitors will be soon if they aren’t already.
- Last note on speed…..This generation multi-tasks like no other. They have grown up texting, studying, listening to music, instant messgaing all at the same time. The next time you are meeting with a Millennial and they check a text while talking to you, don’t be offended. It is the equivalent to breathing for them. If they didn’t do 2 or more things at once, they may go into withdrawl.
- Facebook, Twitter, Yahoo, FourSquare, Flicker or one of the many other sites out there have become the office water coolers of this generation. As a manager of Millennials myself, I have gotten upset in the past when I would see an employee on one of these Social Networking sites during the work day. What I have come to find out, is that these sites allow someone to get a quick break much like a walk outside or the classic “cigarette or coffee” break of yesteryear. This generation is predisposed to working odd and long hours. There is no such thing as an 8-5 to them. As we have discussed before, they are connected all of the time and are often working at very high speeds. Taking a few minutes to check in with friends or family for a few minutes online is exactly what they need to rest for a moment and recharge their batteries before taking off on that frenetic work pace again.
- Please note, these tools are not just for fun. What we are seeing, is that these tools can be fantastic for business as well.We all intuitively know that it is much easier to get an appointment via a referral as opposed to a cold call. Facebook can be a great way to expand your network and connect with people through untraditional channels. Not everyone goes out to networking functions, but more than 150 million Americans are on Facebook!!! There is a very good chance your prospects are on there too!Additionally, these are great business collaboration tools. Next time you need a restaurant suggestion or help organizing a function, try reaching out via Twitter of Facebook. No longer are we confined to just our organization for business help. Now there are “Friends” all around you who will be more than willing to collaborate and share.Be careful though, Facebook is primarily used for friends and family whereas LinkedIn is more for professional use. Be sensitive and be careful what you post and who you invite to be friends with.
- Some good news for those of you have are looking to expand your Social Networking presence….We actually have a full-time Social Media Expert on staff. Her name is Candace Williams-Brown in Marketing. Please reach out to her if you need help setting up an account or ramping up your social media presence in your market.
- This chapter is actually entitled Collaboration with a subsection focusing on the Extreme Office Makeover. I am going to focus on the major trends Millennials are influencing in the office enviornment and collaboration is a part of that.As an Xer myself, I resonate with the example provided in this book of a latchkey child growing up with Divorced parents. Growing up, I remember that 8 out of 10 of my friends had divorced parents. I spent the majority of my childhood growing up alone. When I was in college, I thought the idea of a study group was ludicrous. Who could possibly study with other people around?? Who could get anything done and what would the benefit be?When I entered the work force, my work style was and is “Boss, you tell me the parameters and expectations for the project. Then I’ll go away (And hopefully, you’ll go away too!) and I’ll get it done.” To this day, I still have difficulty delegating and collaborating with others. I have evolved over the years, but that experience shaped who I am.
- For Millennials, independence is inefficient to them. It’s a hindrance to get things done. Why work alone, when you know you can accomplish much more using the skills of the entire team. COLLABORATION is key!!!Fact – a recent survey reported that 28% of Millennials reported leaving a job because they felt disconnected from the organization. They have grown up being connected and when they did have to work, they went to places likes Starbucks to collaborate with their peers. Check out this picture of a Library at a University in Buffalo. Can this really be “studying?” If you are Millennial, then the answer is “yes.”
- Millenialls are pushing for workspaces that Fun and Creative, are flexible and support collaboration.The book references the fact that at first, these ideas initially sound Chaotic and potentially expensive. But when they got down to the nitty gritty details, Millennials are ushering in ideas that are often practical, affordable and much-appreciated by other generations.
- Earlier Generations believed you’d get a lot more work done at work if there were fewer distractions. Offices were silent, doors were closed, broadloom carpets had thick pads to prevent unwanted noise. Businesses looked “professional.” Dark paneling and plain walls made it look like you were serious about what you were doing. Conference rooms were like prison interrogation centers offering little color or comfort and certainly nothing to stimulate the imagination. THINK “purchasing conference room in Lagrange.” If you’ve ever been in there, you’ll know what I mean.
- Millennials don’t need a Pinata hanging from the ceiling, but they like spaces that inspire innovation and create a sense of play.Whether it’s simply the paint, the décor, the furniture choices, or expressions of individual creativity, Millennials like to work in spaces that feel comfortable, loose and fun! It doesn’t need to break the bank.
- These are some pictures from Zappo’s in Las Vegas, NV. 2 of their core values are to “create fun and a little weirdness” and to “Do more with less”. They are encouraged to make their space as stimulating and fun as possible. And they do it on a shoe string budget (no pun intended).
- Now if you do have significant resources and an executive team who recognizes the benefits, you can go big and look like Google. These spaces may look silly, but Google recognizes that the more creative and stimulating the space, the more creative =, stimulated and engaged their associates will be.This also is a major recruitment tool for Google. They are attracting the best and the brightest minds from all around the world to work in Google offices. Make no mistake, Millennials definitely judge their employers on the quality and look of their workspace. And Google attracts the best.
- It’s not just Google leading the way in this effort. This is the office of Ogilvy & Mather in Shanghi. They are one of the largest advertising agency’s in the world. They chose a carnival theme to spur the imaginations of their clients and staff.
- Fun is not just for advertising companies. This is an telecom company in Thailand that incorporates both play and recreation in a very modern space.
- Here are some more inspirational shots from Red Bull, Pixar to name a few….
- Think about the office of the past. It was built around the idea of permanence. Our parents and grandparents who survived the Great Depression and world wars wanted clients to be impressed with substance and dependability. The corner office was a prize you were trained to aspire towards. Your space was your space. Even if you only sat there a few days a month, you basically knew that your chair and your stapler would be exactly how you left it when you got back.Flash forward to the workspace of today and permanence is becoming a thing of the past. Millennials are less interested in having a great personal office than in having cool tools to work with. They don’t just want one space to work in; they prefer a variety of styles and modes of working. The idea of working in one cube all day is a thing of the past.Furniture companies like Herman Miller, Steelcase, Allsteel, Knoll, essentially anyone who is anyone in the furniture world recognizes this and are aggressively working to address it.
- Millennials want options built into the physical space that make it easy to engage and interact with colleagues. A millennial might spend an hour in the bosses office, collaborating on a project across a desk,..Then move to the lounge to spread out in easy chairs with laptops to pour over a project with peers. Just to break things up, they might schedule a brainstorming session over snacks in the cafeteriaAnd finish up alone at the local bookstore café replying to e-mails. Being closely located to these “Lifestyle Hot Spots” is critical to attracting and retaining this generation.
- This is not just good for employees, but this trend towards flexibility in the office can be great for employers as well.Cisco’s advancements down this path has been widely publicized. Much like us, in that nobody would have predicted a carpet company Interface would show the world how sustainability can be good for business. Cisco has shown the world how to design office environments that cost less to build and achieve significantly higher utilization rates and foster greater collaboration.
- By utilizing wireless phone and data technologies, they were able to create a wide array of working environments to address the varied needs of today’s office associate. They created space for both formal and informal meetings. Both public and private drop down spaces and even lockers and filing cabinets to store personal items for the collectors among us. These changes enabled them to increase density on the same floor plate from 88 to 140. An increase of 32%. In the end, they were able to demonstrate significant savings: Real Estate Rent down 37%, Construction cost down 42%, Furniture, IT expenditures such Cabling and Equipment down 40 and 60% respectively. That’s a savings well over six figures for just 1 office in 1 building.
- We certainly assume that a generation that came of age during the Starbucks rise is going to have a very different view of a workspace. This generation is used to listening to lots of different conversations in the background and has developed a pretty good filter to retain what they need and block out what they don’t. Quote - “#1 way a new hire learns is from overhearing conversations of veterans on staff.” - Bruce Simoneaux, Applied Research Consultant, SteelcaseUnfortunately, most companies sequester away the most experienced staffers in private offices completely eliminating these chance learning experinces to happen. This actually is a very effective way to enable transfer knowledge within an organization. Forget about creating fancy web sites or videos, just create spaces that encourage people to work together and you’ll do just as well if not better.
- In the office of the future, there will be a major emphasis on open shared space. Our modular products with Tactiles are an excellent to define these spaces without putting up walls.Just as key in that office will be numerous conference rooms or personal furniture systems that offer a certain level of privacy when you just need to get away or discuss a sensitive matter. These spaces will work great with our high end design and FLOR products inspired around Creative Nesting and David Oakey.
- To review what we have covered, we briefly went over:Who makes up the Millennials. When were they born and what evnts and technologies shaped their lives.Discussed why we should care. They are going to dominate the workforce for the next 2 or 3 decades to come. And by knowing them better, we can gain a better appreciation of what makes them tick and how to appeal to them.We reviewed the 7 trends highlighted in the Book “The M-Factor”ParentingEntitlementMeaningGreat ExpectationsThe Need for SpeedSocial NetworkingThe Extreme Office Makeover – specifically the need for Fun and Creativity, Flexibility and Collaboration will change the office of tomorrow.
- Thank you for your time today. As you can see, the Millennials can-do attitude, passion to collaborate and willingness to have fun along the way will make them great additions to the fabric of our society at large, our customer base and our very own organization at InterfaceFLOR. I for one am looking forward it. I hope you are too.Any questions?