1 Connecting to a Changing Workforce Building Engagement across Diverse Generations Facilitated by: Margaretta Noonan February 24, 2012

2 Connecting to a Changing Workforce Building Engagement across Diverse Generations Facilitated by: Margaretta Noonan February 24, 2012

3 Connecting to a Changing Workforce Today’s shared learning: Four generations at work. Shifting demographics, defining events. Millennials, the next generation of talent.

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5 Where Does Your Organization Stand… On a scale of 1–5 (with 5 being very well), how well do you connect and engage with the younger generation of women within your organization?

6 Four Generations at Work Born: Age: Millennial Generation Generation X Baby Boom Generation Mature Generation Born: Age: Born: Age: Born: Age: 17-33

7 What’s Next? Generation Z Born: 1995-Present Age: 0-16

8 The Big Picture – Generations in the U.S. ? Source: U.S. Census Bureau, 2010 Current Population Survey

9 Women’s Labor Force Participation Rates Selected Countries,

10 Generational Cohorts Born around the same time. Share distinct, historical events during critical development years (coming of age). Each generation is influenced by broad forces. Shapes their view of the world and stays with them forever. Events become anchor.

11 Defining Events

12 Defining Events

13 Defining Events

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15 Millennial Stats 18-to-29-year-olds are unemployed or out of the workforce at the highest rate in more than three decades. Source: Pew Research, Millennials: Confident. Connected. Open to Change., February 24, 2010 Among 18-to-24-year-olds, 39.6% were enrolled in college as of Millennials are on course to become to most educated generation in American history, most likely accelerated by unemployment. One-in-five Millennials (21%) are married, half the share of their parents’ generation at the same life stage.

16 Building on Sand

17 Millennial Stats Millennials make up about 35% of today’s workforce. Source: Next Generation Consulting, 3 Realities in Managing Millennials, October 5, 2011 How long the young and talented stay and how productive they are is determined by their relationship with their manager. Managers blame difficulties among teams in the workplace to different levels of experience; sometimes the issues are more related to generational differences.

18 Employers’ View of Millennials Confident, trusting and teachable. Change jobs frequently. Perform superbly when given clear goals and allowed to work in groups. Treat coworkers as partners rather than rivals. Use their digital access to build close peer bonds. Communicate differently (texting, tweeting, social networking). Rely heavily on their parents. Source: Howe, N., Strauss, W., The Next 20 Years, Harvard Business Review, July-August 2007

19 Recruiting Millennials Millennials are opportunity driven, seeking changes for career enhancement over greater salary or a more secure job. Offer a variety of career paths. Consider all aspects of “What is it like to work here?” when recruiting Millennials. Prioritize areas that are most important to change; have programs for increased training, trusting, teaching and teamwork.

20 Retaining Millennials Provide opportunities to contribute. Foster a culture of respect that extends to all employees. Examine career development and fostering opportunities offered to younger employees. Encourage the rapid development of Gen Y talent and create incentives for seasoned workers to act as mentors to young professionals.

21 Outcome From Today’s Shared Learning: building It’s about building engagement connections workplace greater engagement and better connections within your workplace.

22 Connecting to a Changing Workforce Building Engagement across Diverse Generations Facilitated by: Margaretta Noonan February 24, 2012