Boomers, Gen Xers, Millennials and More: Engaging Today's Multigenerational Workforce To Fuel Economic Growth
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Boomers, Gen Xers, Millennials and More: Engaging Today's Multigenerational Workforce To Fuel Economic Growth

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The American workforce is more multi-generational and diverse than ever before. And each of these audiences deserve fair and equal treatment...but not the *same* treatment. ...

The American workforce is more multi-generational and diverse than ever before. And each of these audiences deserve fair and equal treatment...but not the *same* treatment.

Joe McCool of The McCool Group sheds light on the different generations in the workforce, as well as their needs and motivations. He also examines the generation trend lines developing, and shares why engagement matters most as the driver for economic growth.

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Boomers, Gen Xers, Millennials and More: Engaging Today's Multigenerational Workforce To Fuel Economic Growth Boomers, Gen Xers, Millennials and More: Engaging Today's Multigenerational Workforce To Fuel Economic Growth Presentation Transcript

  • Boomers, Gen X‟ers, Millennials and More: Engaging Today‟s Multigenerational Workforce To Fuel Economic Growth A Roadmap for Opportunity in 2014: December 11, 2013 Find us before you search.SM © 2013 The McCool Group LLC All Rights Reserved excludinggraphics, event sponsor logos and research references
  • Looking Ahead at Your Priorities for the New Year The resource for achieving your greatest potential as an organization in 2014 is also the source of your biggest performance risks This resource is your workforce. © 2013 The McCool Group LLC All Rights Reserved excludinggraphics, event sponsor logos and research references
  • The Improving Talent Economy Seller’s Market For Talent Buyer’s Market For Talent Market Equilibrium © 2013 The McCool Group LLC All Rights Reserved excludinggraphics, event sponsor logos and research references
  • A Word About Our American Workforce The U.S. workforce is more multigenerational and more diverse than it has ever been © 2013 The McCool Group LLC All Rights Reserved excludinggraphics, event sponsor logos and research references
  • Why the Workforce Wants New Hampshire Exceptionally well-educated workforce Business-friendly environment Unadjusted unemployment rate of 5.0 vs national rate of 7.0 (Oct. 2013) NH employment projected to grow 1% per year through 2020 Nationally recognized high-quality of living © 2013 The McCool Group LLC All Rights Reserved excludinggraphics, event sponsor logos and research references
  • Today‟s Workforce Demographics  Mature/World War II/”Greatest” Generation (born 1922 – 1946) – current age 68+: 55m  Baby Boomers (born 1946 – 1964) – current ages 49 to 67: 77.3 million  Generation X (born 1965 – 1980) – current ages 33 to 48: 51 million  Generation Y/ ’Millennials’ – (born 1981 – 1994) – current age 19 to 32: 75 million  Generation Z/’Digital Natives’/’#generation’ – still being defined  Key Point: Each of these segments of our workforce bring discernibly different life experiences to our organizations © 2013 The McCool Group LLC All Rights Reserved excludinggraphics, event sponsor logos and research references
  • Mature/World War II/”Greatest” Generation  Also called “Traditionalists” or the “Silent” Generation  Grew up during Great Depression, were children during or fought in World War II  Most men were the breadwinners, most women with kids at home to care for them  Desired job security  Married earlier than later generations (Men at average age of 23, women at 20)  Notables: Queen Elizabeth II, Mikhail Gorbachev, John McCain © 2013 The McCool Group LLC All Rights Reserved excludinggraphics, event sponsor logos and research references
  • “Baby Boom” Generation  Born during spike in child births after World War II, largest generation/economic group  Grew up during Civil Rights Movement, Cold War, also saw JFK, MLK, Vietnam, Moon  Grew up during Great Depression, were children during or fought in World War II  Committed to social causes, challenging conventions or things seen as “broken”  Work ethic measured in hours worked – coined the term “workaholic”  A journey from being free spirits (Woodstock) to being “empty nesters”  10,000 will turn 65 today and every day for the next 16 years  Notables: Bono, Tom Hanks, Wayne Gretzky, Jimmy Buffett, Elton John, King Abdullah © 2013 The McCool Group LLC All Rights Reserved excludinggraphics, event sponsor logos and research references
  • Generation X/Gen X  Labeled “X” by Hungarian photographer Robert Capa, a.k.a. MTV Generation  Grew up amid the largest divorce rates in American history, “latch key kids,” self-reliant  AIDS, Chernobyl, Space Shuttle Challenger disaster, fall of the Berlin Wall  MTV, Star Wars, Brady Bunch, and “Introduction to Computers”  From “slackers” to a critical demographic for organizational leadership  Higher levels of college education  Notables: Brooke Shields, Kiefer Sutherland, Celine Dion, Brett Favre, Ichiro Suzuki © 2013 The McCool Group LLC All Rights Reserved excludinggraphics, event sponsor logos and research references
  • Generation Y/„Millennials‟  Grew up with tech, labeled the “entitled generation” – raised in dual-income families  Second-generation college students, bearing significant college debt loads  OKC bombing, O.J. Simpson trial, Columbine, Y2K  Disillusioned with some institutions, have grown up in increasingly diverse society  Putting more focus on work/life balance – for themselves and others  Work to live, versus living to work; will follow leaders who inspire; life-long learners  Notables: Mark Zuckerberg, Justin Bieber, Lady Gaga, Selena Gomez References:Pew Research Center, Catalyst, USA Today, http://extension.missouri.edu/extcouncil/documents/ecyl/Meet-the-generations.pdf, Trinity.edu, Wikipedia, http://www.marstoncomm.com/matures.html; http://merrillassociates.com/; http://apps.americanbar.org/lpm/lpt/articles/mgt08044.html; http://www.rosettathurman.com/2010/; http://pewsocialtrends.org/; http://en.wikipedia.org/wiki/Generation_Z © 2013 The McCool Group LLC All Rights Reserved excludinggraphics, event sponsor logos and research references
  • Don‟t Make the Mistake I Made  Don‟t let prejudices or assumptions based on your experience get in the way  Not everyone fits into the “demographic box” you may be inclined to see them in. Don’t assume people‟s values, behaviors, preferences align with their peer group.  It‟s important to view your workforce not as a single, static group of people but rather, as groups of people and individuals with different life and professional experiences  To all – equity and fair treatment – but not the same treatment of everyone © 2013 The McCool Group LLC All Rights Reserved excludinggraphics, event sponsor logos and research references
  • Today‟s Generational Trend Lines  Some Baby Boomers extended their careers 5 years ago to rebuild retirement nest eggs and/or to hold onto their employer-sponsored healthcare coverage  The battle to recruit, retain, promote Gen X into senior management is about to begin  People across the workforce have been hunkered down during a historic downturn in the economy. They are already looking. Be prepared for their departure.  Shift underwayfrom Leadership to “Servant Leadership”  “Social connections” keeping people highly informed in their current roles, but also providing the network connections to ensure smooth career transitions later  Recruiters are getting busy again – high performers at all levels will be in demand © 2013 The McCool Group LLC All Rights Reserved excludinggraphics, event sponsor logos and research references
  • Why Engagement Matters Most  An “Engaged Workforce” and “Engaged Leaders” are your biggest performance levers and our biggest drivers of economic growth  Engagement is really a measure of discretionary productivity, energy, effort, and alignment with and commitment to organizational goals  Engagement is something you can influence as a leader  Is the key to economic output, organizational profitability, morale, and becoming an employer of choice/talent magnet  There is no “one-way” to engage your entire workforce. You have to know what‟s important to individuals © 2013 The McCool Group LLC All Rights Reserved excludinggraphics, event sponsor logos and research references
  • Signs You May Have An Engagement Issue  Employees race to their cars at the end of the day  You‟re convinced that you‟re surrounded by incompetence  The reviews of your organization and its leaders are in and they‟re not good…  You‟re employees aren‟t referring people they know/respect for new/vacant roles  You haven‟t given out raises in a few years or haven‟t awarded performance bonuses  You‟ve had to downsize in recent years, engage in layoffs  People are coming and going and you really don‟t understand for what reasons  You‟re not engaging with employees individually/directly  You‟re watching good people leave, and maybe head straight to your competitors © 2013 The McCool Group LLC All Rights Reserved excludinggraphics, event sponsor logos and research references
  • McCool‟s Rules For Creating Talent ROI  Hire for attitude and culture fit  Promote from within even if that means stretching someone‟s abilities  Recruiting for management, executive and Board roles is “arguably the most important task in the world of business…” You have to get it right the first time.  But you will make hiring mistakes. Timely and effective firing can preserve your culture, morale, performance, profitability, sustainability  A clear view of strategy and goals is key, butthe thoughtfulassignment of roles and accountabilities toindividuals on your team is critical to achieve your goals  Great leaders create their own successors. As a leader, you have to create opportunities for others. After all, we‟re not self-made men and women.  Talent Management, Talent Development, Recruiting, Mentoring and Succession aren‟t just HR‟s business. They‟re everyone‟s business. © 2013 The McCool Group LLC All Rights Reserved excludinggraphics, event sponsor logos and research references
  • Seizing Opportunity in 2014 The resource for achieving your greatest potential as an organization in 2014 is also the source of your biggest performance risks. Remember, this resource is your workforce. © 2013 The McCool Group LLC All Rights Reserved excludinggraphics, event sponsor logos and research references
  • Who you‟re with makes all the difference… Life is short. When you’re working with people who share the same objectives, you’re enriched by the experience. And it makes the journey a lot more fun, too. © 2013 The McCool Group LLC All Rights Reserved excludinggraphics, event sponsor logos and research references
  • Your Challenge for 2014 Do something new or different to engage your people, like: Do lunch with an employee you‟ve never seen outside work and who might least expect your invitation Be a mentor Make „Thank You‟ part of your everyday vocabulary in the workplace Don‟t ask employees to take on something more/new until after you‟ve done the same for them Remember, when it comes to your workforce, you reap what you sow! © 2013 The McCool Group LLC All Rights Reserved excludinggraphics, event sponsor logos and research references
  • Thank You Find us before you search.SM  Phone: (603) 673 4656  E-mail: Joe@TheMcCoolGroup.com  Web: www.TheMcCoolGroup.com  LinkedIn: www.linkedin.com/in/joemccool  Skype: jd_mccool © 2013 The McCool Group LLC All Rights Reserved excludinggraphics, event sponsor logos and research references