CORPORATE BRAIN DRAIN – arguably the single most concerning impediment to long-term sustainable growth... The contributing forces are: an ageing talent pool combined with a diminished pipeline [plus] a changing market landscape that requires new perspectives and skill. Deloitte, Generational Talent Management
Demos, 2006 There is a damaging disconnect between young people and organisations. A disconnect between the training of today and the workplaces of tomorrow, and between the changing values of young people and the organisational cultures that they encounter. At the heart of this disconnect is a lack of understanding on both sides.
In the boardroom bunkers and in the cubicle- filled trenches, the early skirmishes of the next war are being fought. For the moment, most of the action is guerrilla warfare - brief raids in which the companies under attack are often unaware that they've been hit. Ultimately, though, the war will be global, and for businesses, the stakes will be success and perhaps even survival. McKinsey, The War for Talent
Demand has expanded, but the absolute amount of top talent has remained static. Graduate Recruitment Manager, KPMG (FT, 14/3/07)
Boomers Largest gen. in history - 35% of workforce Defined by post-war optimism and values Ethos: hard work; loyalty; rewards Family-orientated.
Boomers Status and job titles matter. Time-served. Currently comprise 87% of all CEOs and senior management. Anything can happen when you turn up to work.
Generation X – the Reactives Blurring of traditional boundaries. End of Cold-War certainties. Lack of clarity – at home, work and in the world. Loyal to profession, not necessarily to employer.
X - The Lost Generation Grew up during a time of strong political leadership. Largest group now in the workforce. Confident and independent, but concerned about work- life balance. Digital Immigrants.
Generation Y – characteristics Connected …24/7 Self-confident Optimistic Independent Bored by routine Entrepreneurial Goal oriented Digital Natives
Gen. Y – aspirations 3Cs: Change, Challenge and Choice. Sense of purpose and meaning. Access to mentors and other company champions. Open social networks that embrace open / honest communication.
Gen Y wants... Motivational leadership (i.e. McGregors Y not X) To learn through coaching and mentoring Opportunities for learning and developing Flexibility On-going development and support Facilitated and experiential learning Face-face rather than e-Learning! (Bibb, James, Walker, 2008).
Bills Rules! - In which a Boomer offers career advice to an audience of Generation Y students …
Rule 2: The world will not care about your self-esteem. The world will expect you to accomplish something before you feel good about yourself.
Rule 3: You will not make $40,000 a year right out of high school. You wont be a CEO with a car phone until you earn both.
Rule 4: If you think your teacher is tough, wait until you get a boss.
Rule 5: Flipping burgers is NOT beneath your dignity. Your grandparents had a different word for burger-flipping - they called it OPP-OR-TUN- ITY.
Rule 6: If you mess up, it is not your parents' fault, so don't whine about your mistakes, learn from them.
Rule 7: Before you were born, your parents weren't as boring as they are now. They got that way paying your bills, cleaning your clothes and listening to you talk about how cool you are. So, before you save the rain forest, try delousing the closet in your own room.
Rule 8: Your school may have done away with winners and losers, but life has not. In some schools they have abolished fail grades and they give you as many times as you want to get the right answer. This doesn't bear the slightest resemblance to anything in real life.
Rule 9: Life is not divided into semesters. You don't get summers off and very few employers are interested in helping you find yourself. Do that in your own time.
Rule 10: Television is not real life. In real life people actually have to leave the coffee shop and go to jobs.
Rule 11: Be nice to nerds. Chances are you'll end up working for one.