© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
Harnessing the Potential of
Multigenerational Workfo...
2
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
Every morning in Asia, a tiger
wakes up. It knows ...
3
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
Knowing Yourself - Assessment
4
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
 The Centre for Executive Education (CEE) is the ...
5
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
 CEO, Centre for Executive Education
 Strategic ...
6
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
Danger or Opportunity?
Our multigenerational work ...
7
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
Shifting Demographics
 By 2017, workers in the US...
8
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
Most employees are:
Working in multi-generationa...
9
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
The 5 Generations
i-Generation /
Linksters
Generat...
10
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
i-Generation /
Linksters
Generation Y /
Millenial...
11
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
Generational Work Perspectives
Generation Years B...
12
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
Traditionalists
(Born before 1946)
Baby Boomers
(...
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© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
Source: The Straits Times, Singapore 8 April 2010
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© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
Group Exercise
Generational Themes
 List five so...
15
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
Differences
16
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
Virtually fun and new languages
www.urbandictiona...
17
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
Bringing a New Type of Language
to the Workplace
...
18
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
Multigenerational Communication
 Keeping these g...
19
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
 More flexible in changing
demographics
 Broade...
20
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
How Does the Multi-Generational
Workforce Impact ...
21
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
 Baby Boomers are retiring at
the rate of one ev...
22
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
Source: “’Y’ Are They Different” – A Study of Gen...
23
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
Top Factors That Motivate Gen
Y To Stay In Organi...
24
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
 Calculate Your Current (and Future)
Investment ...
25
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
Generation Z: The digital natives
Students today ...
26
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
 The Linkster Generation (those born after 1995)...
27
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
 Get them into a routine that they can master.
...
28
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
29
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
• Profitability/ROI
• Cost Optimisation
• Employe...
30
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
Source: http://www.youtube.com/watch?v=rDAdaaupMno
31
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
Conclusion: Strategic Tips
 Build team spirit by...
32
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
If you do tomorrow what you did yesterday
Your Fu...
33
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
http://www.youtube.com/watch?v=03o1JZ7c7gI
Video:...
34
© 2013 Centre for Executive Education Pte Ltd
www.ipma.com.sg/cee.php
Prof Sattar Bawany
CEO, Centre for Executive Educ...
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CEE Executive Briefing on Harnessing Potential of Multigenerational Workforce - 13 June 2013 revised

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  • Global economic power shift eastwardsMega-economies and Emerging economies Changing workforces/different generations working side by side.Cultural shifts Talent shift A new generation taking more control of their own learning, growth and destinyFaster-track technology adoption.
  • Global economic power shift eastwardsMega-economies and Emerging economies Changing workforces/different generations working side by side.Cultural shifts Talent shift A new generation taking more control of their own learning, growth and destinyFaster-track technology adoption.
  • Transcript of "CEE Executive Briefing on Harnessing Potential of Multigenerational Workforce - 13 June 2013 revised"

    1. 1. © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php Harnessing the Potential of Multigenerational Workforce Prof Sattar Bawany CEO, Centre for Executive Education Strategic Advisor, IPMA Asia Pacific Senior Advisor, Eduquest International Institute Thursday, 13 June 2013 Eduquestindia Institute, Pvt Ltd Chennai, India
    2. 2. 2 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php Every morning in Asia, a tiger wakes up. It knows it must outrun the slowest deer or it will starve to death. Every morning in Asia, a deer wakes up. It knows it must run faster than the fastest tiger or it will be killed. It doesn‟t matter whether you are a tiger or a deer: when the sun comes up, you‟d better be running….. Are You A Tiger Or Deer?
    3. 3. 3 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php Knowing Yourself - Assessment
    4. 4. 4 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php  The Centre for Executive Education (CEE) is the Executive Development Division of The International Professional Managers Association (IPMA).  IPMA is a global „not-for-profit‟ (NPO) members organisation headquartered in Kent, UK with Regional Offices in Europe, Africa and Asia Pacific  CEE‟s mission is to assist client organisation to secure a leading position in their respective market place and developing a sustainable competitive advantage through developing their key asset, intellectual capital of the people.  CEE offers talent management solutions including executive coaching and custom-designed leadership development programs to accelerate individual performance and succession planning for organisations.  Eduquest offer training programmes for a wide spectrum of capabilities, knowledge and attitudes that help every individual to become more proficient and professional in carrying out the tasks assigned to them so as to enhance their employability skills. Who We Are
    5. 5. 5 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php  CEO, Centre for Executive Education  Strategic Advisor & C-Suite Coach with IPMA / EDA Asia Pacific  Senior Advisor, Eduquest International Institute, Singapore/India  Co-Chair of the Human Capital Committee of the American Chamber of Commerce in Singapore (AmCham Singapore).  Member of Frontier Strategy Group‟s Expert Advisory Network (EAN) for Talent Management issues in Asia Pacific advising CEOs and CHROs of global and regional organisations.  Over 25 years‟ international business management in executive coaching, facilitation, leadership development and training  Adjunct Professor of Strategy at Paris Graduate School of Management teaching international business strategies, leadership development and human resource courses  Previously assumed senior leadership roles with global management & HR consulting firms: DBM Asia Pacific, Mercer Human Resource Consulting, The Hay Group and Forum Corp About Your Speaker
    6. 6. 6 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php Danger or Opportunity? Our multigenerational work environment can be a source of positive challenge, opportunity and significant growth if managed effectively and leveraged to meet the business goals of our organization.
    7. 7. 7 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php Shifting Demographics  By 2017, workers in the US, Canada, France, Germany, Japan, Singapore., Italy and the U.K. aged 50 and over will make up more than 40% of the workforce (AARP Profit from Experience, 2007) and will be poised to retire in large numbers within the next ten years.  Gen X represents a much smaller pool of available workers and will not be able to fill the positions left vacant by retirements (Institute for the Future, 2003).  In light of this predicted labor and skills shortage, it is imperative for forward-thinking companies to focus on retaining older workers and increasing their ability to recruit and engage younger workers.
    8. 8. 8 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php Most employees are: Working in multi-generational teams View that multi-generational teams improve organizational performance No Authoritative Published Data for Malaysia. Key findings from survey commissioned by TAFEP: Together, Gen X and Gen Y make up 60% of the workforce Means that 40% of the workforce is over 45 years of age Source: Tripartite Alliance for Fair Employment Practices (TAFEP) www.fairemployment.sg Present Day Workforce
    9. 9. 9 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php The 5 Generations i-Generation / Linksters Generation Y / Millenials Generation XBaby BoomersTraditionalists 68 and over 50-67 33-49 19-32 18 and under Leaders yesterday Leaders today Next Leaders 50% Global workforce 5 years to workforce “Aging workforce population” 1922-1945 1946-1964 1965-1980 1981-1994 1995-2010
    10. 10. 10 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php i-Generation / Linksters Generation Y / Millenials Generation XBaby BoomersTraditionalists 68 and over 50-67 33-49 19-32 18 and under 1922-1945 1946-1964 1965-1980 1981-1994 1995-2010 Value logic and discipline, stabili ty, want a legacy Idealistic, competitive, questions authority, dislikes change, recognition, stellar career Work/life balance, career portability, flexible, some anxiety, dislike micro management Value diversity, technologically superior, change, want meaningful work, embrace selected technologies and don‟t let go Technology a part of life, never lost, multi-profiled, multi collaborators, multi personality multi locations The 5 Generational Traits to look out for
    11. 11. 11 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php Generational Work Perspectives Generation Years Born Work Perspectives Traditionalists 1922 - 1945 “Company loyalty” - Believed they'd work for the same company their entire career. Boomers 1946 - 1964 “Live to work” - Believe in putting in face time at the office. Women enter the workforce in large numbers. Gen Xers 1965 - 1980 “Work to live” - Believe that work should not define their lives. Dual-earner couples become the norm. Gen Yers (Millennials) 1981 - 1994 “Work my way” - Devoted to their own careers, not to their companies. Desire meaningful work. Gen Zers (Linksters) 1995 to present “Living and Working their way” - Their struggles in the work environment are tied to their youth and inexperience. Desire for change, stimulation, learning and promotion that will conflict with traditional organisational hierarchies. Sattar Bawany, „Unlocking unlocking the benefits of a multi-generational workforce in Singapore‟, http://sbr.com.sg/hr-education/commentary/unlocking-benefits-multi-generational-workforce-in-singapore, published in Singapore Business Review on 24 January 2013
    12. 12. 12 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php Traditionalists (Born before 1946) Baby Boomers (Born 1946-1964) Gen X (Born 1965-1980) Gen Y (Born after 1980) Potential Challenges • Reluctant to buck the system and speak up when they disagree • Uncomfortable with conflict • Uncomfortable with conflict • Sometimes put process ahead of results • Skeptical • Distrust authority • May not be attracted to leadership positions • View changing jobs as a natural process • Likes to instill a sense of play and fun in the work Perception • Despise workers who appear to jump ladder rungs without „paying their dues‟ • Might not be as conscious to issues on cross culture • Might believe that employees who fail to put in „extra time‟ lack commitment, focus and loyalty • Might not recognize the off-site contribution of employees • Need to be reminded to delegate tasks and responsibilities • Multi-tasking abilities can be construed as rude Communication • Feedback is not necessary, but they want to know that they have made a difference • Documented feedback on a yearly basis is sufficient • Frequent, honest feedback to know they are on the right track • Immediate feedback that tells them what they are doing right or wrong Source: Lynne C. Lancaster and David Stillman „When Generations Collide: How to Solve the Generational Puzzle at Work’, 2002.
    13. 13. 13 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php Source: The Straits Times, Singapore 8 April 2010
    14. 14. 14 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php Group Exercise Generational Themes  List five social events/trends from the first 20 years of your life.  In small groups, discuss the following:  How do you think these events shape your thinking and behavior, especially at work?  With which generation do you experience the most conflict? Why?  What is the most important thing for other generations to know about your generation?
    15. 15. 15 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php Differences
    16. 16. 16 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php Virtually fun and new languages www.urbandictionary.com
    17. 17. 17 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php Bringing a New Type of Language to the Workplace  Your gf is getto lol  Rofl nah she‟s cool  Lol coolies ttyl gtg pos Your girlfriend is lower class laugh out loud Rolling on the floor… Laugh out loud, stay cool, talk to you later, got to go, parents over (my) shoulder
    18. 18. 18 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php Multigenerational Communication  Keeping these generational differences in mind can make dealing with co-workers, less of a challenge.  Remember to discard biases and preconceived notions and enjoy the generational differences
    19. 19. 19 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php  More flexible in changing demographics  Broader insight into your customer base  Wider pool of Talent  Diverse perspectives leading to stronger decision-making  Greater innovation and creativity  Meet the needs of diverse stakeholders Multigenerational workplaces can be a source of positive challenge, opportunity, and significant growth if managed effectively. Benefits of Multigenerational Teams
    20. 20. 20 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php How Does the Multi-Generational Workforce Impact Employers? HR professionals can play a strategic role by partnering with their Business Leaders in meeting the needs of their employees.  Are there specific business units that have a higher percentage of baby boomers set to retire in the next 10 years?  What are some possible flexible work options that will simultaneously attract all generations while encouraging Traditionalists and Boomers to remain employed and play key roles in knowledge transfer, leadership development, and mentoring of younger workers?  How can Human Resources professionals coach managers to maximize the performance of each generation?  What specific tactics are HR professionals using to attract the „best and brightest‟ of the Gen Y employees that might differ from strategies used for other generations?
    21. 21. 21 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php  Baby Boomers are retiring at the rate of one every eight seconds  The vast majority of organizational leaders are Baby Boomers with the most typical age being 58 years old.  There are 11% fewer Gen Xers than Baby Boomers  Generation Y (twenty-five and under) will not be management/leadership material for years to come EDA Research: The New Realities
    22. 22. 22 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php Source: “’Y’ Are They Different” – A Study of Gen Y at Work, Their Views and How They are Viewed, Published by GMP & Temasek Polytechnic, 2009 Leadership Characteristics That Gen Y-ers Want Their Leaders To Demonstrate Leadership Characteristics That Managers From The Other Generations Believe In Demonstrating To Gen Y-ers 1. Caring (54%) 1. Competent (54%) 2. Inspiring (45%) 2. Honest (32%) 3. Competent (44%) 3. Forward-looking (31%) *Numbers in parentheses reflect percentage of respondents who selected this as a preferred strategy. http://www.gmprecruit.com/resource_hub/..%5Cpdf%5CResourceHub%5Cgeny_press.pdf Leading Gen Y Employees
    23. 23. 23 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php Top Factors That Motivate Gen Y To Stay In Organizations Retention Strategies Most Utilized By Organizations 1. Opportunities for Career Advancement (63%) 1. Opportunities for Career Advancement (43%) 2. Good Work-Life Harmony (41%) 2. Emphasis on Learning & Development (37%) 3. Good Relationships (40%) 3. Good Compensation (24%) *Numbers in parentheses reflect percentage of respondents who selected this as a preferred strategy. Engaging Gen Y Employees
    24. 24. 24 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php  Calculate Your Current (and Future) Investment in Gen Y:  How many Gen Y employees does your organisation currently have?  What is the average compensation for Gen Y employee at your organisation?  Multiply the number of Gen Y employees x Your average compensation.  Can be seen as the risk your organisation takes in assuming Gen Y will meet your employment needs.  The better managed this investment, the lower the risk and the better return for all involved. Exercise: Managing the ROI on Gen Y?
    25. 25. 25 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php Generation Z: The digital natives Students today are all “native speakers” of the digital language of computers, video games, instantaneous communication, and the Internet. Source: Marc Prensky, “Digital Natives, Digital Immigrants” (2001)
    26. 26. 26 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php  The Linkster Generation (those born after 1995) is the one just entering the workforce now. Like any other generation, it brings its own mindset into the workforce.  Linksters primarily work part-time while attending school.  They are called Linksters because no other generation has ever been so linked to each other and to the world through technology. Their struggles in the work environment are tied to their youth and inexperience.  They are complete digital natives and cannot function without communicating through social media.  Desire for change, stimulation, learning and promotion that will conflict with traditional organisational hierarchies. Source: Generations, Inc., by Meagan Johnson and Larry Johnson. 2010, AMACOM. Gen Z or The Linksters
    27. 27. 27 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php  Get them into a routine that they can master.  Generation Z will be unlike Baby Boomers, who are often loyal to a firm. They don‟t expect jobs for life and will move onto the next job, similar to Generation Y.  Managers of Generation Z employees will have to be prepared to give regular feedback that tells them they are making a difference to the organisation  Development and work/life balance are more important than financial reward, with both Gen Y & Z being committed to their own personal learning and development. Source: Edge Online Future of work - Employees 3.0: Managing Generation Z published on 28 August 2012 http://www.i-l-m.com/edge/managing_generation_Z.aspx Managing Gen Z
    28. 28. 28 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php
    29. 29. 29 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php • Profitability/ROI • Cost Optimisation • Employee Turnover / Retention • Employee Satisfaction • Employee Loyalty • Policy on CSR, Sabbatical • Rewards and Flexibility • Culture, Espirit De Corps • EQ Level & EI Competencies • Servant Leadership/Level 5 • Leadership Styles Organisational Results Talent Engagement Organisational Climate Leadership Effectiveness Customer Loyalty • Customer Satisfaction • Service Value/ Relationship Bawany, S. (2011) “Ways to achieve Organisational Success: Role of Leaders in Engaging the Multi-Generational Workforce” published by Singapore Business Review, 1st November 2011. http://sbr.com.sg/hreducation/commentary/ways-achieve-incredible-organizational-success-0 Engaging Your Multi-Gen Talent
    30. 30. 30 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php Source: http://www.youtube.com/watch?v=rDAdaaupMno
    31. 31. 31 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php Conclusion: Strategic Tips  Build team spirit by talking about the generational issues to depersonalize the conflict that arises due to the differences.  Recognize and celebrate the differences.  Over communicate. Seek to understand and only then to be understood.  Engage through Managerial Coaching  Encourage constant feedback and show recognition for Y-er‟s & Z-er‟s contribution  “Opportunities for Career Advancement” and “Good Relationships” are key factors  Learn to use technology – it is here to stay!
    32. 32. 32 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php If you do tomorrow what you did yesterday Your Future is History…………… If you do tomorrow what we’ve covered today Your Future is Historic!!! Final Thoughts
    33. 33. 33 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php http://www.youtube.com/watch?v=03o1JZ7c7gI Video: Leading Multigenerational Team
    34. 34. 34 © 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php Prof Sattar Bawany CEO, Centre for Executive Education & Strategic Advisor, IPMA Asia Pacific Email: sattar.bawany@ipma.com.sg Website: www.ipma.com.sg/cee.php LinkedIn: www.linkedin.com/in/bawany Facebook: www.facebook.com/ipma.singapore Twitter: www.twitter.com/sattarbawany Skype: sattar.bawany Keeping in Touch on Social Media

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