‘ 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
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’.
Gen. Y – career aspirations Lots of Change, Challenge and Choice Sense of purpose and meaning Access to mentors and other company champions Open social networks that embrace open / honest communication.
“Contrary to assertions that Gen Y are flighty and don’t want to stick at a job, research shows that if they are getting what they want they will stay, and they will be loyal.” Talent Smoothie, 2008 t
#2. Passionate about new challenges, responsibilities and success.
What is important to Gen Y when working on projects? SOURCE: Bibb, S., Walker, S., James, J. (2008). % % % %
#3. ‘Career’ means a cause to believe in. 72% of finalists said they would have to feel happy with an employer's ethical record. GRADFACTS
‘… today's younger managers in the health sector believe their future success depends on skills development. Asked what attracts them to job opportunities, just 21 per cent said pay is very important. Most (78 per cent) said they are attracted to employers offering training and development and 87 per cent said the "challenge of work" is a key factor influencing their choice of job.’ Health Service Journal, 17/06/08
Generation Y wants … Motivational leadership (i.e. McGregor’s ‘Y’ not ‘X’) Career brands which offer creative/visionary narrative Coaching and mentoring Opportunities for learning and developing Flexibility On-going development and support Facilitated and experiential learning Face-face rather than e-Learning!
Talent Management for Generation Y Develop ConnectDeploy Capability Performance Commitment Alignment
Bill’s 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 won’t 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.”