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MILLENNIALS: WHAT’S UP WITH THOSE KIDS TODAY? NOW WE’RE TALKING CONFERENCE JUNE 11 & 12, 2014 MEDICINE HAT, ALBERTA PRESENTED BY: PAULA J. MACLEAN WWW.SILVERCREEKPRESS.CA.

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Presentation on theme: "MILLENNIALS: WHAT’S UP WITH THOSE KIDS TODAY? NOW WE’RE TALKING CONFERENCE JUNE 11 & 12, 2014 MEDICINE HAT, ALBERTA PRESENTED BY: PAULA J. MACLEAN WWW.SILVERCREEKPRESS.CA."— Presentation transcript:

1 MILLENNIALS: WHAT’S UP WITH THOSE KIDS TODAY? NOW WE’RE TALKING CONFERENCE JUNE 11 & 12, 2014 MEDICINE HAT, ALBERTA PRESENTED BY: PAULA J. MACLEAN

2 GENERATIONS BY YEARS WHAT IS YOUR GENERATION? 1922 – 1945 Age – 1964 Age 50 – – 1980 Age 34 – – 2000 Age 14 – 33 TraditionalistsBaby BoomersGeneration X Generation Y, Millennials Now We're Talking - Generation Y/Millennials - Paula J. MacLean2

3 SOME BASIC CONCEPTS Not everyone from the same generation acts and thinks uniformly (we are from the same generation, but we are both alike and different!). Not all differences between people of different ages can be explained generationally. Every generation has or will have a legacy in society, workplaces, families: some of the legacy will be positive and some will not be positive. The practice of judging, stereotyping, criticizing people from younger and older generations has existed for millennia. (Boomers: remember the “Generation Gap” in the 1970’s?) Most of this is based on stereotypes and over-generalizations that are not very helpful to creating collaborative, harmonious workplaces, families or societies. Some differences are “age and stage” related: There are phases in growth and development. For example: “The terrible twos.” These are different than characteristics that belong to the majority (but not all) of a particular generation. Now We're Talking - Generation Y/Millennials - Paula J. MacLean3

4 Traditionalists 3.5 million 10% of pop. 2% of workforce Decreasin g Baby Boomers 9.14 million 26% of pop. 28% of workforce Increasing Generation X 7.4 million 21% of pop. 34% of workforce Stable Generation Y 9.5 million 27% of pop. 36% of workforce Increasing Sources: In Canada: Now We're Talking - Generation Y/Millennials - Paula J. MacLean4

5 GENERATION Y – A SNAPSHOT … Gen Y will dominate the workforce (in number) and will lead workplaces and society for the next 50 years. Gen Ys want to lead and many aspire to leadership roles (unlike many Gen Xs and more like Baby Boomers). Gen Ys change employers more frequently than any other generation. They do so to learn and gain experience. The stereotype is that they are “job hoppers”, disloyal, unsettled. They are the most culturally diverse of all generations. They are achieving the highest levels of academic education of any generation to-date. They value work-life balance and will put self and family before work. They are intuitive stress managers. The stereotype is that they are selfish and have a questionable work ethic. They were “raised in groups” (child care, playschool, preschool, sports and clubs) and have strong affinity for teamwork, group problem solving and communication. They were raised (by Boomer and Gen X parents) to speak up, address conflict directly and to be resilient. Now We're Talking - Generation Y/Millennials - Paula J. MacLean5

6 GENERATION Y VALUES They are socially conscious, heart-driven and somewhat cynical. They dislike bureaucracy and favour relationships before systems and rules. They want information NOW and want to use technology to receive and share it. They need feedback in real time. They value praise and rewards (including money). They like coaching and mentoring. Most take constructive criticism quite well. They will assume that no feedback means they are doing great. “No news is good news.” They are skilled users of technology and expect others to be as well. Now We're Talking - Generation Y/Millennials - Paula J. MacLean6

7 GEN Y - CLUES FROM RECENT RESEARCH … My research in 2008 with: 942 employees from all 4 generations 21 employers in the nonprofit sector responding to a 200 item questionnaire. Generation Y - Results in a Nutshell: #1 loyalty of Gen Ys is to their team and co-workers (other generations #1 is their employer) 66% keeping their eye out for other employment (highest of all generations) 45% said their employer understands their generation (lowest of all generations) 85% said they value flexible benefits: 29% said their employers have flex benefits in place 38% have had 7 employers or more so far in their careers 54% said that changing employers was necessary for increasing skills and gaining experience 77% said having a coach at work was very important (highest of all generations) Now We're Talking - Generation Y/Millennials - Paula J. MacLean7

8 88% said having a plan for their career path was important to them 45% said they could give at least one example of how their employer tried to keep them (lowest of all generations) 45% said employee performance issues in their workplaces were under-managed (feedback was too late, not specific, not direct) 34% said changes at work in the past year were positive (lowest of all generations) Gen Ys were the least likely to feel that their ideas were valued and listened to by their employer Gen Ys were also the least likely to feel comfortable speaking up at work Concerns for the future: #1 was having enough money for self and family #2 was having meaningful work that they enjoy #3 was work-life balance Now We're Talking - Generation Y/Millennials - Paula J. MacLean8

9 WORK ETHIC: A MATTER OF PERCEPTION Now We're Talking - Generation Y/Millennials - Paula J. MacLean9 Based on a 5 point scale: 5= Very high

10 GEN Y STRATEGIES THAT WORK AT WORK Leverage their teamwork and group skills Adapt recruitment and orientation practices to meet generational priorities (particularly necessary in a tight labour market where Gen Ys are the largest potential pool of candidates) Create flexibility (scheduling, benefits, time off, workload, individualize where possible) Create opportunities for learning (development not just training, stretch assignments, job rotations, acting positions, committee work, special assignments) Create mentoring programs and coach, coach, coach! Be creative, timely and direct with feedback (including positive feedback and constructive critical feedback) Look at arbitrary rules inside organizations, challenge unnecessary bureaucracy Ask for input (not feedback), use it and show them how you have used it (close the communication circle) Focus on relationships starting with recruitment. Work happens because of and through relationships with others. Now We're Talking - Generation Y/Millennials - Paula J. MacLean10

11 STRATEGIES CONTINUED … Specify what “good communication” looks like: e.g. acknowledging s, providing updates, preferred use of technology (text, , social media, telephone). Develop a career path with steps in development: advancement does not necessarily mean “promotion” Create succession plans for all key positions in organizations – engage Gen Ys in preparing for their future and challenge assumptions that they are “ready now”! Increase your understanding of Gen Y’ priorities by doing surveys, holding discussion groups, committee work, special projects, innovative and stretch assignments. Create cross-generational teams, projects and committees. Increase cross-generational understanding and appreciation. Now We're Talking - Generation Y/Millennials - Paula J. MacLean11


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