Hidden Brain Drain Research Off-Ramps and On-Ramps: Keeping Talented Women on the Road to Success, 2005 (Sponsors: Ernst & Young, Goldman Sachs, Lehman Brothers) Leadership in Your Midst: Tapping the Hidden Strengths of Minority Executives, 2005 (Sponsors: General Electric, Time Warner, Unilever) Extreme Jobs: The Dangerous Allure of the 70-Hour Workweek, 2006 (Sponsors: American Express, BP plc, ProLogis, UBS) The Athena Factor: Reversing the Brain Drain in Science, Engineering and Technology, 2008 (Sponsors: Alcoa, Cisco, Johnson & Johnson, Microsoft, Pfizer) Bookend Generations: Leveraging Talent and Finding Common Ground, 2009 (Sponsors: Booz Allen Hamilton, Ernst & Young, Time Warner, UBS)
Bookend Generations Themes Common Ground Odyssey From Me to We Work-Life Integration Recognition Resonates A Collaborative Workplace for Teams Rewards Remix Source: 2008 survey of 3,782 U.S. male and female college graduates in white-collar occupations and 2009 re-survey of 1,046 respondents from 2008 survey.
Odyssey 47% of Ys and 34% of Boomers want company-sponsored sabbatical leaves to pursue “odysseys” Of those who have taken “time out” 53% of Ys and 49% of Boomers used it to explore passions or volunteer
From Me To We Boomers and Ys who volunteer do so for an average of 10 hours per month African-American Ys (57%) are more likely to volunteer than their Caucasian (34%) peers
Work-Life Integration 89% of Gen Ys and 87% of Boomers say flex work options are important 83% of Gen Ys and 75% of Boomers say the ability to work remotely is important – most want to work one day a week outside the office
Recognition Resonates 93% of Ys and 82% of Boomers say receiving recognition from their company/boss is important
A Collaborative Workplace for Teams 86% of Ys and 77% Boomers want to work in teams
Rewards Remix Gen Y and Boomers are motivated by more than money. Five other goals are rated equal to or more important than money
Going Global Gen Y Across the World Similarities Gen Ys in the U.S. (86%), UK (80%) and China (79%) are willing to go the extra mile for company success. Ys in all three countries enjoy working with Boomers – U.S. (78%), UK (86%) and China (79%). The Rewards Remix is similar in the U.S., UK and China – high quality teams, a range of new experiences, flexible work arrangements and recognition from company/boss were rated equal to or more important than money in all three countries. Differences Chinese Ys are more likely to look to their Boomer supervisors for professional advice than Ys in the U.S. and UK. Chinese Ys are more likely to live with their parents (38%), UK Ys communicate with their parents more on a daily basis (48%) and U.S. Ys (41%) lead the pack in monetary support from parents. UK Ys aren’t as altruistic as Ys in the U.S. and China. Only 59% rate opportunities to give back to society through their job as important (compared with 93% in China and 85%in the U.S.)
7 th Inning Stretch Growing Gap Between Desired and Projected Age of Retirement June 2008 and January 2009 Boomers are delaying retirement by 9 years – 4 more than in June 2008.* * The number 100 was imputed for those who report they never can or will retire.
Boomers Have Complex Drivers 14% of Boomer don’t think they will ever retire 36% of Boomers project they will continue working to age 70 and beyond
The “Kippers” Phenomenon On average, Boomers who kick-in financial support give their adult children $471 per month African-American Boomers are more likely to contribute financial support than their Caucasian counterparts Kids In Parents Pockets Eroding Retirement Savings
Cutting Edge Policies Rich Menu of Flex Citi: Alternative Work Strategy KPMG: Flexible Futures Opportunities to Give Back Pfizer: Global Access Ernst & Young: Partnership with Kiva.org Hip Collaborative Workplace Bloomberg: Progressive, collaborative office environment Genzyme: Green, environmentally friendly building and work environment Intergenerational Mentoring Programs Time Warner: Digital Reverse Mentoring Cisco: Legacy Leaders Network