What Are They Thinking?! - PDF Free Download

Speaker Series What Are They Thinking?! Building a Multigenerational Workplace Tamara J. Erickson October 27, 2009

Today: A Chorus of Corporate Concerns About Young Employees They spend too much time online They don t respect tenure They have no loyalty they only stay a short time They re needy and always looking for compliments They re not willing to pay their dues I can t get them to accept my offer! Their communication skills are lousy Their parents call me to discuss the offer or a bad performance review! They re too impatient! They don t want to work as hard as I did They send messages to the CEO!!! 2 2009 Tamara Erickson and ngenera. All Rights Reserved.

An Echo of Concerns in Return They spend way too much time in meetings They don t treat me with respect I can t imagine a career here! What is it with these people and 8:30 am? They re inefficient They don t respond in a reasonable timeframe They don t use technology to make their job easier They assume I m interested in the path they chose They give me antique technology They re obsessed with face time 3 2009 Tamara Erickson and ngenera. All Rights Reserved.

Unprecedented Demographics: Slowing Growth 35% 30% 29% U.S. Workforce Growth Rate by Decade 25% 20% 18% 15% 12% 12% 10% 5% 4% 3% 0% 1970 to 1980 1980 to 1990 1990 to 2000 2000 to 2010 2010 to 2020 2020 to 2030 4 2009 Tamara Erickson and ngenera. All Rights Reserved. Source: U.S. Bureau of Labor Statistics

Globally: Significantly Slower Growth in the Working Age Population 1970-2010 2010-2050 Mexico Brazil India China South Australia Canada US Netherlands Spain France UK Russia Italy Japan Germany Korea Source: Deloitte Research/UN Population Division (http://esa.un.org/unpp/) It s 2008: Do You Know Where Your Talent Is? Why Acquisition and Retention Strategies Don t Work, p.6 5 2009 Tamara Erickson and ngenera. All Rights Reserved.

Declining Birth Rates Around the World Births per 100 Population 6 5 4 African Avg 3 2 1 Japan Western European Average India Brazil China United States 0 1820 1900 1950 1998 Source: "Changing Global Demographics," H.S. Dent Publishing, 2007, based on data from the United Nations. 6 2009 Tamara Erickson and ngenera. All Rights Reserved. 6

A Talent Supply/Demand Disconnect Lack of resources creates tension on the high skills market Demand for skill Supply of skill Oversupply of low skill resources generates unemployment Source: Confronting the Talent Crunch: 2007, A Manpower White Paper 7 2009 Tamara Erickson and ngenera. All Rights Reserved. 7

A Four Generation Workforce Traditionalist Boomer Generation X Generation Y Born 1928 1945 Born 1946 1964 Born 1965 1979 Born 1980 ~1995 Each generation with different assumptions about how the world works Based, in part, on common interpretations of shared experiences 10 2009 Tamara Erickson and ngenera. All Rights Reserved.

Traditionalists: Born before 1946 Booming Post War economy Growth of suburbs Increased availability of consumer goods Growth in white collar jobs Joiners Institutional Loyalty Acceptance of Hierarchy and Rules Money as a Metric of Success 12 2009 Tamara Erickson and ngenera. All Rights Reserved.

Boomers: Born 1946 1960/1964 Vietnam Civil Rights Widespread protests Assassinations of Kennedy, King, and other idealistic leaders Watergate and Nixon s resignation Lots of other Boomer teenagers! Competitive Life as a Game of Musical Chairs Anti Authoritarian Idealistic 14 2009 Tamara Erickson and ngenera. All Rights Reserved.

Generation X: Born 1961/1965 1979 Troubled economy Challenger disaster Widespread lay offs from re engineering Women entering the workforce Rising divorce rates CNN Growth of electronic games and of the Internet Self Reliant, Mistrustful of Institutions, Rule morphing, Tribal, Dedicated Parents, Information savvy 16 2009 Tamara Erickson and ngenera. All Rights Reserved.

Generation Y: Born 1980 1995 Terrorism: 911, World Trade Center, Oklahoma City School violence: Columbine Ubiquitous technology Working mothers Unprecedented bull market Pro child culture Immediate Confident, Upbeat and Determined Tolerant and Spiritual Family centric 18 2009 Tamara Erickson and ngenera. All Rights Reserved.

Gen Y: Strikingly Family Centric Trustful of authorities Trust parents (86%), teachers (86%) and the police (83%) Parents as role models and heroes Today, 90% of teens report being very close to their parents In 1974, more than 40% of Boomers said they'd be better off without their parents! Near zero generation gap Parent child co purchase decisions are common Expect to retain close parental bonds even after leaving home Likely to consult their parents on major decisions including work! Sources include: Applied Research & Consulting LLC; Gallup 19 2009 Tamara Erickson and ngenera. All Rights Reserved.

The Re Generation: Born After 1995 Resource shortages energy, water Refinancing and vacations in the backyard Revolutionary election Recession Reality Renewal Regeneration Born: 1996 and later Today (2009): 13 years old and younger 20 2009 Tamara Erickson and ngenera. All Rights Reserved.

Recruiting the Traditionalists Used to attract a cohort whose values include: Respect for authority and hierarchy Attraction to charismatic authority figures Desire to affiliate with an institution The Authority Figure Invites you to Join the Team 21 2009 Tamara Erickson and ngenera. All Rights Reserved.

Recruiting the Boomers Used to attract a cohort whose values include: Idealism Personal growth and self occupation Anti authority Where the Me Generation Can Follow Its Dream 22 2009 Tamara Erickson and ngenera. All Rights Reserved.

Recruiting the X ers Used to attract a cohort whose values included: Independence and responsibility Comfort with technology Distrust of institutions Desire for customization and flexibility On Your Own, Your Own Way 23 2009 Tamara Erickson and ngenera. All Rights Reserved.

Recruiting with Benefits for Parents At SkyWest Airlines our employees and their parents have access to worldwide travel discounts on airfare, rental cars, hotels, all inclusive resorts and cruises. ^ So, go ahead, tell your kids to apply... And have them give you the world for a change. ^ 25 2009 Tamara Erickson and ngenera. All Rights Reserved.

Practical Steps for Attracting and Retaining Y s Communicate, particularly during the recruiting process, in Y friendly ways Address parents as an explicit part of your recruiting strategy messaging, awareness, concerns Shift performance management to focus on task completion, not time spent Embrace time shifting, asynchronous work, and flexible schedules Invest in technology... and in your technology skills leverage technology to create efficient processes Provide frequent feedback coach first line managers to teach, rather than assess Create a collaborative, team based environment Encourage Boomers in your midst to mentor Y s Don t over define the task let Y s figure it out Re design career paths to offer frequent, lateral moves not necessarily up Provide world class learning opportunities in all forms 26 2009 Tamara Erickson and ngenera. All Rights Reserved.

Practical Steps for Attracting and Retaining X ers Design career paths that broaden their options, rather than narrowing them Give them choice and control over their career paths Leverage their entrepreneurial instincts give them voice and influence Minimize moves that sever social connections Provide family friendly flexibility Create on ramps for those who have stepped off the track in their 30 s Invest in technology and provide the time required to incorporate it Develop the leadership skills required to navigate the Boomer Y love fest 27 2009 Tamara Erickson and ngenera. All Rights Reserved.

Practical Steps for Attracting and Retaining Boomers Retire retirement encourage them to stay Recruit those who retired early and regret it now Create a variety of bell shaped curve career options including cyclic work and options for both less and more responsibility Encourage giving back through mentoring, community service, knowledge sharing Package new programs as a way to win 28 2009 Tamara Erickson and ngenera. All Rights Reserved.

Leading a Four Generation Workforce Withhold judgment don t jump to conclusions Legitimize diverse perspectives Establish clear and effective group norms Make a significant investment in building trust based personal relationships 29 2009 Tamara Erickson. All Rights Reserved.

For more information... terickson@ngenera.com Across the Ages at http://discussionleader.hbsp.com/erickson/ Ask Tammy at www.tammyerickson.com

Resources for Further Reading It s Time to Retire Retirement, Harvard Business Review, March 2004 Winner of the 2004 McKinsey Award Managing Middlescence, Harvard Business Review, March 2006 Workforce Crisis: How to Beat the Coming Shortage of Skills and Talent by Dychtwald, Erickson, and Morison, Harvard Business School Press, 2006 "What It Means to Work Here" Harvard Business Review, March 2007 Bridging Faultlines In Diverse Teams MIT Sloan Management Review, Summer 2007 Eight Ways to Build Collaborative Teams Harvard Business Review, November 2007 Breakthrough Ideas for 2008: Task, Not Time, Harvard Business Review, February 2008 Retire Retirement: Career Strategies for the Boomer Generation, Harvard Business School Press, 2008 Plugged In: The Generation Y Guide to Thriving at Work, Harvard Business Press, 2008 Unconventional Wisdom in a Downturn: Give Me the Ball! Is the Wrong Call in a Downturn, Harvard Business Review, November 2008 Gen Y in the Workforce, (Case Study), Harvard Business Review, February 2009 My blog: http://discussionleader.hbsp.com/erickson/