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Managing The Generation Gaps

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Managing The Generation Gaps

  1. 1. Managing the GenerationGapsPresentation byAkilan Karthikeyan
  2. 2. ObjectiveManaging across generations and understanding how tocommunicate considering the generation characteristicsof Boomers, Gen X-ers and Millennials (Gen Y-ers), will giveyour business a competitive advantage.This presentation talks about the characteristics of thevarious Generations and understand how we have tocommunicate with each of them.
  3. 3. IntroductionHiring the right people and helping all employees managethe generation gap will reduce internal conflict as wellas enhance employee motivation and productivitythroughout the organization including: Operations Customer service Sales & Marketing Research & Development
  4. 4. IntroductionMarketing to the right demographic and giving themrelevant messages will improve your success - both inwhat you say and where you say it.Tying this smarter approach to your CoreCompetencies, Mission Statement, Vision Statementand Goals will put you even further ahead of yourcompetition.
  5. 5. IntroductionIn this presentation we will explore the generationcharacteristics of what motivates Boomers, Gen X-ersand Millennials (Gen Y-ers), and how managing acrossgenerations will help you to communicate with eachgeneration more effectively by exploring their: Employment Expectations Work Ethic / Loyalty
  6. 6. Baby BoomersWho are they?
  7. 7. Baby Boomers
  8. 8. Baby Boomers: Born between 1946-1964Teen-age Baby Boomerswere individualistic andidealistic – very much likeMillennial teens and youngadults.They felt they could changethe world and... they did.
  9. 9. Baby Boomers: Born between 1946- 1964As young adults Boomers took their values to work. They wantedmeaningful work and embraced socially and environmentallyconscious companies.Again, like Millennials they were driven more by their values thanby money.Yet, by the time mid-generation Boomers started to have families,unemployment had risen to 10%.With mounting responsibility and fewer job options they becamemore individualistic and less idealistic – and became motivated bymoney, perks and prestige.
  10. 10. Baby Boomers: Born between 1946- 1964Today they are well-established in their careers and holdpositions of authority.They are a large majority of today’s law firm leaders,corporate executives, and senior managers.They relish long work weeks and define themselves by theaccomplishments and prestige of the company they work foras much as their own professional accomplishments.
  11. 11. Baby Boomers Employment ExpectationsBaby Boomers believe in working your way up the ladder –whether you have a degree or not – experience is morevaluable. As such they recognize hierarchy, paying your duesand that money and perks are the reward for hardwork, long hours and commitment.They are most familiar with annual reviews but are learningto embrace midyear and quarterly reviews as the pace oftheir work environment increases.They value face time in the office and many Boomerswill not welcome work flexibility or other work/life balancetrends.
  12. 12. Baby Boomers Work Ethic / LoyaltyVery motivated to do a great job and will behardworking from morning to night. Baby Boomershave the mind set of "organize life around work andwork around life" and "work your way to the top."Because they are defined by their work, (and by arecent economic downturn), they are working longerand retiring later.Baby Boomers are loyal to the companies they workfor. They want to trust their employers and will notmove companies as quickly as either X-ers orMillennials.
  13. 13. Baby Boomers Work Ethic / LoyaltyAs Boomers approach retirement and feel financiallystable many re-embrace their early values of work/lifebalance and being socially and environmentallyconscious. That said, the possession of items thatdemonstrate success and prestige remains important.Complement Boomers to get their best work.
  14. 14. Generation X-ersWho are they?
  15. 15. Generation X-ers
  16. 16. Generation X – Born between 1965 - 1977 Generation X-ers are a cross between the hierarchy embracing Boomers and the team driven Millennials – especially when looking at Gen X-ers born at either end of their era.
  17. 17. Generation X – Born between 1965 - 1977Gen X-ers have grown up withcorporate downsizing, massivelayoffs, governmental scandal,and come from two incomeand / or divorced families.With their parents oftendedicating their lives to work,Gen X children were often left toaccomplish tasks alone or withtheir siblings, therefore, theybecame independent, self reliantindividuals.
  18. 18. Generation X – Born between 1965 - 1977 They are much more comfortable with technology, diversity and global awareness than any previous generation. X-ers are the first generation to grow up with cd’s, remote controls and computers. Their circle of friends likely includes people from other cultures and they are one of the first generations to benefit from easier world travel and access to world-wide current events.• Gen X-ers place a premium on family time, are ambitious and hardworking and still value work/life balance.
  19. 19. Generation X Employment Expectations• After witnessing the burnout and / or layoff of their hardworking parents, X-ers entered the workplace as independent, resourceful and self-sufficient people who value freedom and responsibility. If they are put into a box they will start looking for a way to get out.• They are used to being leading edge – especially with technology (consider their familiarity with technology vs. their parents). Gen X-ers want to use their entrepreneurial spirit.
  20. 20. Generation X Employment Expectations• Generation X-ers are ambitious and eager to learn new skills.• Provide meaningful work and link what you do to improving humankind.• They want frequent training that relates not just to the job, but to their careers.• They look for technology based instruction which includes multi-media and interactive, computer- based training.
  21. 21. Generation X Work Ethic / Loyalty• They seek fun and meaningful work. They value the freedom to set their own hours. Flexible work schedules and work-from-home options (as long as billable quotas are met), may help to retain and motivate this generation.• A hands-off attitude often works best when supervising, mentoring or working with this generation. Coach, dont lecture them. Gen X-ers value freedom and autonomy to achieve desired goals and often prefer to work alone rather than in teams.
  22. 22. Generation X Work Ethic / Loyalty• They dislike “meetings about meetings” and don’t want or need face time.• Dont expect blind loyalty. Gen X-ers are supreme skeptics and cynics and value authenticity. They expect change. Gen X-ers thrive on diversity, challenge, responsibility and creative input. If their current firm does not provide them with these opportunities, they will not think twice to move elsewhere.• Make feedback regular and specific. Annual performance appraisals are too late - they need frequent, rapid, specific feedback.
  23. 23. Generation Y-ersWho are they?
  24. 24. Generation Y-ers
  25. 25. Millenial (Generation Y) – Born between 1978 - 1987• Millennials have the reputation of being the toughest generation to manage.• They grew up in a culturally diverse school and play environment, are tech-savvy, enthusiastic, self-centered, confident, well networked and achievement-oriented.• Millennials are one of the best educated generations in history.
  26. 26. Millenial (Generation Y) – Born between 1978 - 1987• Like Gen X-ers, many Millennials were raised in two-income families with their parents often away from home. Despite this Millennials tend to have stronger relationships with their parents. Thanks to mobile technology their “helicopter parents” were rarely out of reach.• Their parents focused on filling every moment of their Millennial childrens lives – introducing them to an unprecedented volume of well structured and well supervised education and activities.• Their busy schedules and expanded educational opportunities is where their confidence and need for variety and challenge comes from.
  27. 27. Millenial (Generation Y) – Born between 1978 - 1987• Millennials have been told by their parents that they can do anything.• They are often called the "Everybody Gets a Trophy" generation because their parents insisted that their childhood experiences be positive and that no one felt left out.• Coming in first at school and at play wasn’t the goal – they were regularly praised and rewarded for their ‘best efforts’.• Their helicopter parents brought them up teaching them that everyone has a valid opinion and deserves to be taken seriously… at least heard.
  28. 28. Millenial (Generation Y) Employment Expecations• Millennials do not expect to “pay their dues.” They expect their opinions to be heard and considered and are not usually shy.• Millennials want to know that what they are doing is valuable to the company and/or environment… as well as valuable to them and their career.• They have a strong desire for rewarding opportunities – for them and their company.
  29. 29. Millenial (Generation Y) Employment Expecations• They are driven more by accomplishment. Millennials want to express their creativity and be able to complete tasks on their own - using their own methods.• They will be quick to go online and search the www as well as ask their own network of friends / associates for information and stimulation.• They are learning-oriented and if they’re doing something wrong they want to know about it now so they can move on.
  30. 30. Millenial (Generation Y) Employment Expecations• Millennials were brought up working in teams with shared rewards – and they want to be coached / mentored. They want to know they have access to an open door to ask questions, and this usually means they will ask many questions.• Millennial parents and teachers gave Millennials lots of praise as well as second, third and even fourth chances. So as adults they need the same from their employer. They want to be told often they are on the right track and doing a great job.
  31. 31. Millenial (Generation Y) Work Ethic / Loyalty• Clearly define your expectations. Millennials need detailed instruction about what you want – but let them determine how to get there. Make the work relevant to them and important to them and the company. If you engage them they will work hard.• Millennials are accustomed to new ideas and situations, a constant opportunity to learn (or more accurately find out).
  32. 32. Millenial (Generation Y) Work Ethic / Loyalty• Millennials will be loyal to a company – but will not provide blind loyalty. As long as their personal interest and career needs are being met (which change frequently) – and the company is socially responsible, the Millennial will be loyal. But they are not concerned about job-hopping.• They will quit now and find that job later - and if that doesn’t work out they can always count on their helicopter parents for support.• Praise Millennials often – daily even… and for sure… coach them.
  33. 33. The reality of Millenial Employees• They don’t expect to be asked about their work experience – they have very little. They will tell you the world is moving very fast they don’t need experience – but they do expect you to still give them the opportunity to show what they can do.• They will want to work in a two-way management situation. Just don’t expect them to sit back and take instruction, they will reply with their own input.
  34. 34. The reality of Millenial Employees• Questions. Be prepared – all they do is ask questions.• They need to be a part of a continuous feedback loop. They constantly need reassurance and constant feedback to keep their interest.• Money is key. They have an inbuilt expectancy to be paid a good salary from the beginning.• Training is important, but so is the style of training. They will want to pass test like training, where scores and definitive marks are given – don’t forget they are not long out of school/college.
  35. 35. The reality of Millenial Employees• Short attention spans. Boredom will kick in quite quickly with them, and don’t expect them to work unlimited hours in a day to get that project done, they will work only when they want to.• They are focused on their social life and consequently plan work around it, rather than the other way around.
  36. 36. The reality of Millenial Employees• Don’t expect them to win that gold watch for staying long in your company. They will already be planning the next job before they have even started with you. And they see nothing wrong with this.• What does money mean to them? A means to an end – they won’t be buying a house, they will be focusing on enjoying themselves. So they will earn (and spend) what it takes to do that, not much more.
  37. 37. How do you keep Millenial Employees Happy?• Engage them meaningful dialogue regarding workplace activities, projects and events• Ask their opinion and LISTEN (they may have a better solution)• Communicate with them EVERY SINGLE day• Don’t dictate or direct. Give them scope if feasible.• Don’t pay lip service to training – they are hungry for it.
  38. 38. How do you keep Millenial Employees Happy?• Reverse training – use THEIR skills• Job Rotation (Remember the get bored quickly)• Examine the package – how creative can you be? Be flexible• Don’t forget Gen X’ers and Boomers – use the knowledge• Accept they will leave (sooner than you think)• Don’t‘friend’them on Facebook!!!
  39. 39. Millenials – They will leave when they are ready• Be under no illusions, Gen Millenials want everything yesterday and are not prepared to wait. They will not sit back and‘do their time’, that is not their style.• Your retention strategy is to accept that they will leave!• Now you manage them to a mutual point of exit – when you can no longer offer them what they need.• But do it right and they may return, even better they may tell their friends on Facebook how good an employer you are!
  40. 40. The Future• What shall we expect from Generation Z: Born between the mid-1990s and the late 2000s?
  41. 41. The Future• So far relatively little is firmly established about the character and motivators of Generation Z-ers, but as children of X-ers who have grown up in the shadows of 9-11 and the war on Iraq, as well as access to information through the internet, cell phones, iPods, YouTube and facebook pages they will likely be even more ambitious and more worldly than any other new generation.
  42. 42. Thank you