Managing Millenials- Generation Y

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Managing Millenials- Generation Y

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  • Copyright © 2001-2007 Infor Global Solutions
  • Copyright © 2008 Infor. All rights reserved. www.infor.com.

Transcript

  • 1. Managing Millenials- Generation Y Kathryn Carlson Product Director, HR Management
  • 2. Questions? If you have questions during the presentation, please submit them using the “Questions” feature. Questions will be answered at the end of the webinar. Copyright © 2011 TK Carsites. All rights reserved. www.tkcarsites.com.
  • 3. The Four Generations Veterans, Silents, Traditionalist 63 years and older Baby Boomers 42 to 63 years old Generation X, GenX 28 to 42 years old Generation Y, Millennials, Echo Boomers 27 years and younger
  • 4. From X to Y Generation Y or Echo boomers are terms that designate a cohort of people born immediately after "Generation X." It is one of several terms (including The Millennials and the The Internet Generation) used to describe the same group. There is much dispute as to the exact range of birth years that constitutes "Generation Y" and whether this term is specific to North America, the Anglophone world, or people worldwide. The only consensus, by way of its relation to the term "Generation X," is that those born in Generation Y must follow Generation X. – Wikipedia "Generation Y are variable — dates ranging as widely as 1979 through 1994 and 1982 though 2000 have been used.“ American Associations of Law Libraries
  • 5. Defining the Generational Character Traditionalist Baby Boomers GenX Millennial Core Values Respect Conformity Discipline Optimism Involvement Skeptical Fun Informal Realism Confident Social Family Traditional Nuclear Disintegrating Latch-key kids Non-traditional Communication Phone One on One Written Phone “Call me anytime” Cell phone Email “don’t call me at home” Social media Cell phone “just text me” Education A dream A birthright A way to get there An expense Money Savers Pay Cash Buy now, pay later Cautious Earn to spend
  • 6. What They Want  Traditionalists want RESPECT  Baby Boomers want SUCCESS  GenYs want AUTONOMY  Millennials want VALIDATION
  • 7. 80 million baby boomers 46 million Gen Y 78 million millennials 25% of the workforce by 2014 and 47% by 2040 By the Numbers
  • 8. Columbine The 2000 Election Crisis 9-11 Cable Reality TV War Terrorism Internet Columbia Accident Technology Gaming Starbucks Gen Y Formative Events Challenger Accident MTV SpaceShipOne GoogleiTunes Napster Franchises Oprah Daily Show Southpark Simpsons Celebrity Scandals Amazon.com Online Shopping eBay mac vs. pc Global Warming CD’s youTube abu ghraib Blogging Influencers
  • 9. Individual - Personality in Adolescent to young Adulthood Environment GEN Y’s Characteristics
  • 10. At work….
  • 11. Meritocracy. Only the talented survive andOnly the talented survive and anyone with talent should be able to succeed.anyone with talent should be able to succeed.
  • 12. Camaraderie and Collabroration. WorkingWorking with others, in teams or just collaboratively; groupwith others, in teams or just collaboratively; group accomplishment is even sweeter than solo success.accomplishment is even sweeter than solo success. A sense of mentoring, or mentors, in the workplace.A sense of mentoring, or mentors, in the workplace.
  • 13. Non-traditionalist:Non-traditionalist: Doing things differently than inDoing things differently than in the past while making the point, “this isthe past while making the point, “this is different.”different.”
  • 14. Who is Gen X….
  • 15. Independent:Independent: in choice of company to work for,in choice of company to work for, when to leave, how to get work done, how the workwhen to leave, how to get work done, how the work should be done are all individual decisions, (withshould be done are all individual decisions, (with input from social/professional networks) resultinginput from social/professional networks) resulting in little loyalty to employers.in little loyalty to employers.
  • 16. Unique. hey see themselves as a breed apart, talented, skilled and in demand. They strongly believe in the value of their work and expect “the rest of the world” to appreciate it as well.
  • 17. Confident. They show little fear of the future, believing that their skills will always be in demand and they have a strong support net in place through family and friends.
  • 18. Realistic. however, realistic about financial compensation due to ups and downs in the economy.
  • 19. Why Bother?  Ability to take in discontinuous information and make meaning of it  Uses tools and create technology to change the world in new ways  Can cope with extreme complexity  Provide energy and insight into process and system improvements  Will be extremely productive and supportive, if engaged.  Able to innovate and communicate in new and distinctive ways
  • 20. What Works For Everyone  Establish objectives, goals and work plans  Provide education and training in multiple formats  Give on-going coaching and feedback  Offer promotional and career development opportunities  Provide Freedom  Balance, 9-5 doesn’t cut it anymore
  • 21. Don’t Forget…  Generational context is not just about age, but common experiences  Different is neither right nor wrong, just different  Different approaches to the same problem is a strength- highlight accordingly and seek common ground  Never make assumptions  Generational understanding does not take the place of concern for the individual
  • 22. Questions and Answers
  • 23. Contact Information 25– KPA CONFIDENTIAL – The recorded webinar and presentation slides will be emailed to you today including your local representative’s contact information. www.kpaonline.com kcarlson@kpaonline.com 866-228-6587