Presentation on theme: "The Art and Science of Talent Management:"— Presentation transcript:
1The Art and Science of Talent Management: The Future is in Understanding the Next Generation
2The Generations Collide… When does intergenerationalconflict in the workplace occur?What causes it?
3A New Lens of Diversity: Generational Differences Managing generational differences is a critical part of your Talent Management Strategy.These differences impact recruitment, engagement, and retention.It’s time to reduce the focus on generational conflict and focus on common ground issues that will make a difference.
4Are you a Gen Savvy Leader? Gen savvy leaders are those who understand generational differences and are able to make these differences become a workforce asset, not a problem to be solved.
5Connection Activity Let’s discuss the following questions: “How do you see generational differences showing up in your company?”“What are your experiences with this topic?”
6Why Is This Perspective Important? A seismic shift is occurring in the US labor market.By 2012, 40% of the US workforce is now 40+In US manufacturing, the average age is now 50+Federal workforce (1.6 million civilians): half can retire within 3 years, 70% of supervisorsNASA scientists and engineers: Those over 60 outnumber those under 30 3:1
7Changing US & World Demographics Between 2004 and 2015, over half of net workforce growth in the US will come from Asians and HispanicsBetween 2020 and 2050, they will account for all net workforce growth.This isn’t just a US issue:Germany’s workforce will be 25% smaller by 2025Italy’s population will drop 28% in the next 50 years.Japan’s Working Support Ratio (the number of working age people, 15-64, relative to the # of elderly) is one of the world’s lowest.
8Let’s Meet Five Generations Civic / GI ( )Adaptive / Mediating ( )Baby Boomer ( )Gen X ( )Gen Y / Millennial ( )
9Civic/GI Generation (1901-1931) The “Greatest Generation”Shaped by the Depression & WW IIMostly gone from the workforce, but still a powerful presence in many orgs.Practical, dedicated, loyal, hierarchicalExamples: GHW Bush, Warren Buffet,Frank Sinatra, Sandra Day O’Connor
10Adaptive/Mediating (1932- 1945) Pioneers in new attitudes about retirement, aging, and healthLeading the way for what’s comingStaying in the workforceLeaving the workforce and “ReFiring®”Still providing leadership in the workplace and beyond.Examples: John McCain, Gloria Steinem, Dick Cheney, Elvis, Jesse Jackson, Tina Turner, Joe Biden, Colin Powell, Jane Fonda
11Boomers (1946 – 1964) Largest cohort, 76 – 85 million So used to being the center of the universe; the “pig in a python” generationExpect fulfillment in all areas of lifeWant to keep working, but do something differentWhat’s next?Examples: Oprah, Bill & Hillary Clinton, GHW Bush, Bruce Springsteen, Bill Gates, Barack Obama, Sara Palin (cusp)
12Gen X (1965 – 1981) Work to live, not live to work Company loyalty doesn’t pay offWish that Boomers would get out of the wayVery media savvy—skepticalWant flexibility in their workExamples: Tina Fey, Larry Page & Sergey Brin (Google), Bart Simpson, Tiger Woods
13Gen Y / Millennials (1982-2000) Very high expectations! Team/group orientedOften received “stuff” instead of time from their parentsTechnology is like breathing— multi-tasking is the normTroubling attitudes about fame andbecoming rich*Ex: Lindsay Lohan, Daniel Radcliffe (Harry Potter), Luke Ravenstahl (mayor of Pittsburgh), Venus Williams, America Ferrera (Ugly Betty)* Source: Pew Research Center Study on Generation Next, January, 2007
14Gen Y in the WorldMost tolerant on social issues such as immigration, race, and homosexualityMaintain close contact with parents and family—8 in 10 have talked with their parents in the last day.About half have a tattoo, an “untraditional” hair color or a body piercing other than in their ear lobe.Source: Pew Research Center study on Generation Next, Jan. 2007
15People Entering the Workforce Right Now… Are too young to remember the space shuttle blowing up on liftoff.Have always had an answering machine.Cannot fathom not having a remote control.Have always cooked popcorn in a microwave.Have never taken a swim and thought about Jaws.Bottle caps have always been screw-off and plastic.
16Oh Yeah, Those Boomer Parents Gen Y carries the Boomer’s high expectations, hopes, and fearsWho bought them all that stuff?Impact of the self-esteem movementTeam/group orientation has positive and negative consequencesThe extreme: helicopter parents
17Impact of Generational Differences ValuesAttitudes towards workWork stylesJob satisfaction criteriaLevels of commitment to the organization
18The New Economy Organization 1950 – 2000HierarchyDifferent levels by age kept generations apartJob security9–5Face time in the office21st CenturyFlattened structuresFewer levels bring generations togetherFree agency24 x 7Virtual work, virtual teamsSource: Diane Pitkialis, the Conference Board, 2007
19Generation Gaps at Work 75% of workers 55+ say they relate well to younger coworkers.Only 56% of younger employees relate well to older workers.Source: Ransdsat USA 2006
20Flashpoint Issues Dress/appearance Work hours/work ethic Technology Expectations for advancementCommunicationLack of respect
21What do notice about generational conflicts in your Organization? What are the flashpoints of misunderstanding or conflict?Do you see examples of rolled eyes and blind spots?What specifically could/should managers do to address these issues?
22The Risk for Employers* DisengagementPoor productivityLow morale: “they just don’t get it”High turn-overPoor recruitment results* Generational differences are not the only cause of these employer risks, but are a significant contributor
23Workplace Current State Executives: mostly in denial, but becoming more concerned about generational issuesConfusing messages about the impacts of:Immigration.Technology.How long the Boomers will stay.The current economic situation
24More Than a Labor Shortage Labor: fewer workers in the labor poolSkill: shortage of high-skill workersKnowledge: loss of critical knowledge in all sectors of the economySource: David W. DeLong, “Lost Knowledge”, 2004
25What Do They Want? Phased retirement (80% say they want it) Boomers:Phased retirement (80% say they want it)Flexibility in work hours and benefitsOpportunities for continued growth, including training and educationRewards for their work ethic and long hours
26What Do They Want?Gen X:A chance to show what they can do: equality and fairnessFlexibility in work hours and benefits: fewer rulesA fun and informal work environmentCareer development opportunitiesCutting edge technology
27What Do They Want?Gen Y:Interesting, challenging work with fast upward mobilityMentoring, feedback, access to opportunity. Now.Career developmentWork in teamsRespectNewest technology
28Common Ground for the Generations Workplace flexibility: schedules and locationCoaching approach to leadershipDesire for developmentRespect
29Benchmarks: What do other companies do? Dress code: “You must wear clothes”.An organization that is flat, transparent, and non-hierarchical.A company-wide rule that allows developers to devote 20% of their time to any project they choose.“Keep the bozos out” and reward people who make a difference.Employee services that make it easy to balance work/lifeSource: Gary Hamel, “Management à la Google,” WSJ, April 26, 2006.Image:
30Benchmarks: What do other companies do? Basic organizational unit = team, not storeHigh autonomy, high accountabilityProduct Selection, Promotion, and HiringEvery four weeks, Whole Foods calculates the profit per labor hour for every team in every store.CEO John Mackey:“We don’t have lots of rules that are handed down from headquarters in Austin. We have lots of self-examination going on. Peer pressure substitutes for bureaucracy. Peer pressure enlists loyalty in ways that bureaucracy doesn’t.”Source: Charles Fishman, “The Anarchists Cookbook,” Fast Company, July 2004.
311. What should your organization do to create a more “gen friendly” workplace? 2. What should individual leaders/managers do? Individual reflection and goal setting: 2. What can YOU do? How can you integrate the common ground factors into these solutions?
32Summary The key for working well across generations? Respect (defined by whom?)Look through the lenses of other generations — it’s a different perspective!
33Korn/Ferry International Nick Huck 2000 Corporate Ridge DriveMcLean, VA, 22102