Nick Ammaturo, Head of Global Corporate Services Procurement, Coach Inc., discussed Millennials and their impact on today’s global workforce in his keynote presentation to Argyle’s CHRO membership at the 2016 Leadership in Supply Chain Management and Procurement Forum in New York on Nov. 16. In his presentation, “Millennials by the Numbers,” Ammaturo defined the gap between Millennials and other members of the global workforce, along with how HR professionals can bridge this gap.
According to Ammaturo, the Millennial population is growing, and employers must be able to find, hire and retain Millennials consistently. Failure to do so could cause an organization to fall behind its rivals and miss out on top talent both now and in the future.
Today’s organizations need to devote the time and resources to learn about Millennials. By doing so, organizations can find the best ways to connect with Millennials and build long-lasting partnerships with them.
“[Millennials] are the largest living generation right now,” Ammaturo said. “We’re here to stay … and you need to understand how we operate.”
Ammaturo also highlighted several key statistics related to Millennials and the global workforce, including:
- By 2020, 50 percent of the global workforce will consist of Millennials.
- 75 percent of Millennials want to work from home.
- 72 percent of Millennials want to learn new skills.
- 25 percent of Millennials globally are working two or more jobs.
Ultimately, an organization must establish realistic expectations for all workers. This will enable an organization to define what it wants from a worker, and vice-versa. It also allows an organization to take a straightforward approach with Millennials and ensure both parties can agree to terms on a mutually beneficial partnership.
“We want to learn. We want to network. … We really feel that extending our network is important.”
Millennials prioritize a flexible work environment, one that fosters independence and self-fulfillment. In this work environment, a Millennial can prosper and drive results for an organization. Thus, offering remote positions may enable an organization to stand out in the eyes of Millennials and boost its chances of attracting top talent.
“We don’t want to come in Monday through Friday from 8 to 6,” Ammaturo noted. “We’re looking to have a more flexible work environment.”
Many Millennials remain committed to networking, and how an organization encourages its employees to network may dictate its immediate and long-term success.
Ammaturo pointed out allowing workers to share their work experiences on LinkedIn may prove to be exceedingly valuable. This opportunity enables an employee to provide others with insights into how an organization operates and may help this organization strengthen its relationships with workers at all levels.
“Your people are your best asset,” Ammaturo said. “Help [your employees] leverage their network.”
Furthermore, Millennials remain dedicated to their day-to-day work. Although it may appear that Millennials often are browsing random websites on their smartphones or tablets, employers must understand that Millennials often stay connected to their work at all times.
“We’re hard workers, we’re out there and we’re looking to diversify,” Ammaturo stated. “You might think we’re on our phone all day, but we might be on LinkedIn building our network.”
Giving workers the opportunity to extend their networks could deliver long-lasting benefits for both employees and an organization.
“We’re hard workers, we’re out there and we’re looking to diversify. You might think we’re on our phone all day, but we might be on LinkedIn building our network.”
If an organization allows workers to connect with peers via networking groups, it empowers employees to learn from one another and continue to build their skill sets – something that remains paramount to Millennials around the world.
“There are so many things you can do outside of work to get your name out there,” Ammaturo noted. “We want to learn. We want to network. … We really feel that extending our network is important.”
Organizations must be ready to commit time and resources to educating workers both inside and outside the office.
Millennials want to learn as much as possible so that they can provide valuable support in any work environment, at any time. However, many organizations lack the time and resources needed to offer professional training opportunities to employees, which may prevent these organizations from helping Millennials achieve their goals.
If an organization promotes an open learning environment, it may be better equipped to attract Millennials than its rivals. This organization will be able to offer training opportunities that the competition cannot, and as such, could reap the benefits of top talent for years to come.
“Whether it’s in the company or within an external organization or class, we want to learn,” Ammaturo said. “If you don’t have a training budget or aren’t giving your teams resources, they are going to go elsewhere.”
How an organization approaches the Millennial workforce could make a world of difference. If an organization remains open to new ideas, it may be able to collaborate with Millennials and stand out to these individuals over the next several years. Comparatively, an organization that remains focused solely on the bottom line may struggle to adapt to the rapidly evolving global workforce.
Nick Ammaturo is currently the Global Head of Corporate Services Procurement for Coach, Inc. where he is responsible for the Global Category strategy and management of Corporate Services (HR, Finance, Facilities, Temp Labor, Travel and Professional Services).
Prior to this, he was Director of Procurement & Profit Improvement for the Hudson’s Bay Company (Lord & Taylor, Saks 5th Avenue, Gilt, Galeria Kaufhof and Hudson’s Bay & Home Outfitters), where he was responsible for developing the strategy and leading the Special Projects group, Project Management Office, Contract Management team, Procurement Systems team, Facilities, Store Operations, and IT and Financial Services Categories.
Before transitioning to the Retail industry, he was the Manager of Global Sourcing and Supply Chain for Avon Products Inc., where he drove sourcing process improvement initiatives around the world. In addition to process improvement, Nick led efforts for North America Supply Chain, Distribution, Logistics, and Packaging as part of the supply chain transformation Avon assumed.
Prior to Avon, Nick served as Senior Procurement Specialist at FM Facility Maintenance, where he specialized in facilities commodity sourcing and workplace transformation. He drove significant cost savings at food retailers throughout the Northeast through process change management and cost reduction initiatives. Prior to this role Nick served as a Senior Buyer for PepsiCo, where he managed categories such as corrugated and plastics to drive significant cost reduction and partnered with R&D to implement product line standardization and quality improvements.
Nick is a graduate of Villanova University. He has spent a good amount of time abroad – both in his studies at the London School of Economics & Political Science, and during his tenure as a Finance/Marketing Analyst for Ipsos in Beijing, China as well as a Financial Analyst for KPMG in London, UK. Currently, he serves as President & Chairman of the Board of ISM-7 Counties, and is a recipient of the Institute for Supply Management (ISM) and ThomasNet’s prestigious 30 Under 30 Rising Supply Chain Stars Recognition Award.