Talent Acquisition and Management of Tomorrow’s Workforce – The GEN Y

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• Workshop date : 30 September 2011

• Facilitator : Ms. Deepa Mohamed

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Talent Acquisition and Management of Tomorrow’s Workforce – The GEN Y

  1. 1. 1 - Ms. DEEPA MOHAMED
  2. 2. 2 Getting In – sync with Gen – Y “UNDERSTANDING” P Humanizing Technology in Talent R OBJECTIVE Acquisition “ACQUIRE” O C A comprehensive Eunderstanding and Workplace Enablers for Gen – Y S “MAKING WORK-PLACE READY” S practical insightabout Gen – Y andhow to Manage Gen Managing Gen Y “Retaining & – Y at workplace.. Empowering” Sessions will be based on……. - Various research & report statistics - Personal experiences - Sample Survey done within organization & department. - Open forum – Participants Input
  3. 3. Characteristics Communication Styles Social Attributes We will be able to reap the benefits of their tremendously confident generation & will be able to produce financial & business miracles in terms of synchronizingTRADITIONALIST • Direction & Guidance • Enthusiasm & ExperienceBABY BOOMERS • Open approach to Learning GEN X • Contagious Motivation & GEN Y Confident 3
  4. 4. Generation Common Characteristics Optimistic; Confident; Gen Y Comfortably self-reliant; Success Driven Self-Reliant; Gen X Diversity-Minded; Focused on today Optimistic;Baby Boomers Driven to achieve goals; 4
  5. 5. Think of an example a ‘Personality’ from a Traditionalist generation that has been able to influence the millions of Gen Yers recently in 2011.Because he ignited following in Gen Y• Trust in Them• They felt the same cause & share the vision• They could accept that ‘Traditionalist’ as a trusted Mentor 5
  6. 6. The worldwide survey includes special samples from: US: 1,217 India: 897 China: 660 UK: 607 Germany: 256 And from various key5,375 respondents industry sectorsincluding: 690 Engineering 625 Media3,011(18 - 25-year-olds) 736 Marketing, Finance &1,298 (26 - 35-year-olds) Communication396 (36 - 45-year-olds) 491 Information Art 551 Design 6
  7. 7. Green Money Service wants to implement CRM to encourageRohan, 26 newly cross-sellingmarried, having 5 yrs throughout the org.work exp in SAP was 80% workforce sales.hired by a TOP-NOTCH Avg age of emp - 26MNC. Soon after joining Several Barriers standhe was asked to relocate in way, slow to change,to a FIELD Location Mr. Soham, 40 low acceptance from heads, leaders lackwithin 3 months. The working in an exp. In technology.same came as a surprise American MNC was Leaders are old-timersto him as he was not deputed to South East with org from 15 - 20communicated Asia for next 2 years. yrs, few are less thatregarding this at the No family transfers 2.5 yrs, some even 6time of Interview. No Schooling Grant months No Promotion PostingWhat Would be It is frustrating……Rohan`s Reaction????? What would be Soham`s reaction???? 7
  8. 8. No definitive agreement on birth years;, our reference band is between 1981 and 2000 – gen Y. Global WorkPlace Innovation - Oxygenz report 2010. Famous Generation Major Events General Characteristics Personality 9-11; Iraq War; Enron; Emerging countries & global Techno savvy & connected 24/7; Economy;; No life without computers Sania Mirza Optimistic; Confident; Comfortably self- Gen Y INDIA – Eco. Transformation, SEZ`s, Asian reliant; Entrepreneurial; Success Driven; Saina Nainawal Mark Elliot Zuckerberg Games, Financial Reforms Inclusive; Environmentally minded Collapse of the Soviet Union; Corporate downsizing; Punk rock; Space shuttle Challenger tragedy; Grew up with video games, MTV, and Barkha Dutt computers in school Skeptical; Pragmatic; Adaptable; Self- Sachin Tendulkar Gen X Post-WWII Prosperity; Vietnam War and social Reliant; Informal; Technoliterate; Shah Rukh Khan protest. Diversity-Minded; Focused on today << Sabeer Bhatia INDIA – Green Rev. Expansion of telecomm industry, S/w industry. The Beatles; The Cold War; The Civil Rights Kiran Bedi Movement; Watergate; Women’s Liberation Competitive; Optimistic; Driven to Mukesh AmbaniBaby Boomers INDIA – Polt. Integration, States Reorganization achieve goals; Focused on their children; Kiran Majumdar Shaw Judgmental of differing opinions; Political Indra Nooyi Act, Automobile Factory Committee Chanda Kochhar Korean War; Beginning of Cold War; Creation of the H-bomb; Jazz; Abstract expressionist art; Non-conformist; Bohemian; Cool; Anna Hazare The Castro’s Cuban Revolution Questioning authority; Apolitical; Anti- Azim premji intellectual. Narayana MurthyBeat/builders INDIA – Dandi March, Satyagrah Disillusioned; Reactive; Cynical about The Lost World War I; Isolationism; Immigration; Invention institutions; Realistic; Pragmatic; Risk- of the airplane and automobile; Generation taker; Critic 8
  9. 9. 9
  10. 10. 10 % of Generations World Population populationGen Y -15-29 years old 1,723,911,077.00 25.47 Gen x - 30-44 year old 1,442,951,791.00 21.32Baby Boomers - 5 - 64 years old 1,233,836,150.00 18.56Traditionalists - 65-74 years old 316,330,067.00 4.67 With nearly half of Indias billion-plus people under the age of 25.
  11. 11. 11 Not enough of them (US, UK, Australia and Europe) India Problem of plenty (Not employment ready) Baby Boomers retiring, taking the experience with them Furious digital innovators Gen y Skills crucial for globally networked and knowledge economies to move upvalue chain
  12. 12. 12
  13. 13. 13Time for a groupExercise….. Lets Find out the“ASPIRATIONS ” and “CHARACTERSTICS”of Generations
  14. 14. 14General Characteristics Millennial at work Tech-savvy  Work well with friends and on teams Connected…24/7  Collaborative, resourceful, Self-confident  Innovative thinkers Optimistic  Love a challenge Independent  Seek to make a difference Comfortably self-reliant  Want to produce something worthwhile Determined  Desire to be a hero Goal oriented  Impatient Success driven  Comfortable with speed and change Lifestyle centered  Thrive on flexibility and space to Inclusive explore Global, civic- and community-minded  Partner well with mentors Service oriented  Value guidance Entrepreneurial  Expect respect
  15. 15. 15 • Decision based on the influence of their own peers. PEERS • Live in a culture encouraging them to embrace community values • Reach consensus • LESS IDEALISTIC - Media & pop culture influencePRAGMATISM • Worried about unemployment rates and inflation , crime rates & body image. • Increasingly short term focus. • Concept of absolute TRUTH no longer valid, more relative as per circumstances.PREFERENCE • Technology is often not trusted let alone held up as the answer.
  16. 16. 16 • Optimism • Collective actionValues Work Ethic • Civic Duty • Tenacity • Confidence • Heroic spirit • Achievement • Multi-tasking • Sociability • Technological savvy • Morality • Have difficulty dealing with • Street smarts difficult people issues • Diversity • Multiple Careers and Flexibility Required • Give me feedback all day long…I have to have it!
  17. 17. 17
  18. 18. They function wellThey love a as team memberschallenge They want to beThey want it They want surrounded by– right now to be heroes bright, creative people 18
  19. 19.  Rigidity Fear of technology Phony personalities Being told to “pay your dues The 60 hour work week A dry, boring environment Slow response time Being “stuck” in a dead end job Homogenous workforces Nonchalant attitudes about the environment Working first, living second 19
  20. 20. Global terrorismConcerns about the environmentPovertyWorld hungerGlobal financial concernsA highly competitive workforceChaos in the business world 20
  21. 21. 21
  22. 22. Category What to Do Why Provide fexible work schedules and a relaxed workplace.Work Create opportunities for social interaction like Millennials put friends and lifestyle above work.Environment Friday afternoon alcohol-free ‘happy hours,’ They are getting married and having children scavenger hunts, and Nerf battles. later.Learning &Training Boomer parents raised them to believe thatOpportunities Provide reimbursement and employee training. education is the road to success Emphasize the ways that your company Almost 70 percent say that giving back and beingRecruiting contributes to society civically engaged are their highest priorities. Give them exposure to different parts of theOn Boarding business; and help them build relationships Millennials want and need with current employees connections, checkpoints and mentoring Millennials ask ‘what is my job’ and go about figuring out the best, fastest way to “When Baby Boomers were younger, they hadWork Ethic complete that task. a piano teacher who expected them to practice Then they consider themselves done. piano and work hard at it. They view jobs as ‘something to do betweenMotivation Provide paid time-off as a reward weekends. Loyalty to the boss is the number one reason they stay in a job, especially during the first threeBoss years. Dissatisfaction with the boss is theRelationships Win their affection. number one reason they quit. Millennials want a Be careful not to cross the line tight bond with a boss who is close, caring and from “boss as advocate” to boss as friend. aware 22
  23. 23. Category What to Do WhyManaging Describe the result you’re looking for and let Millennials grew up learning how to figure things them figure out how to get there. To bring out the out on their own. With the Internet and a network best in them, teach them about the company and of friends a text message away they will find their explain how their work will lead to specific own answers. They are impatient but always results. Hold them accountable for mistakes and eager to learn and quick to d praise them for Success. Millennials think of themselves as a commodity that they can sell to the highest biddero soWork Assignments Give them several projects. They are great multi-taskers with 10 times the Put them in the field with clients where they can speed and technical knowledge of their older work in teams and solve problems siblings. Though they are independent thinkers, collaboratively. Millennials love working in teams. They question Let them work on projects with higher-ups when the status quo and expect to make an impact appropriate one DayReducing Create career paths with a They set short-term goals andTurnover timeframe short enough for them to envision. want to make an impact from day one Reward small success along the way 23
  24. 24. In India, with opportunities a plenty in the 24 current economy, JOB-HOPPING is a major constraint, something not seen in their parents’ generation. With nearly half of Indias billion-plus people under the age of 25 High Aspiration Accelerated career growth Socially responsible workplace Flexible work environment Freedom & collaboration Innovation Entrepreneur & Business savvy Optimistic, Embracing change Clear sense of where they are headed Highly competitive Gen-Y in India value WORK LIFE BALANCE more than any other generation Level of engagement comparable to other generations “EXCEPTION” Willing to work in shifts , but NO NO TO LONG HOURS…………
  25. 25. Veterans Baby Boomers Generation X Generation Y (1922–1945) (1946–1964) (1965–1980) (1981–2000)Work Ethic / Hard work Workaholics Eliminate the task What’s next Respect authority Work efficiently Self-reliance MultitaskingValues: Sacrifice Crusading causes Want structure and Tenacity Duty before fun Personal fulfillment direction Entrepreneurial Adhere to rules Desire quality Skeptical Tolerant Question authority Goal orientedWork is…: An obligation An exciting adventure A difficult challenge A means to an end A contract FulfillmentLeadership Style: Directive Consensual Everyone is the same The young leaders Command-and-control Collegial Challenge others Century Ask whyInteractive Style: Individual Team player Entrepreneur Participative Loves meetingsCommunications: Formal In person Direct Email Written Immediate Voice mailFeedback & No news is good news Don’t appreciate it Sorry to interrupt, but Whenever I want it, at Satisfaction in a job Money how am I doing? the push of a buttonRewards: well done Title recognition Freedom = best reward Meaningful workMessages that Your experience is You are valued Do it your way Working with other respected You are needed Forget the rules bright, creative peoplemotivate:Work & Family Life: Work No balance Balance Balance Work to live 25
  26. 26. 26
  27. 27. Likes mentors GlobalInstant information Demands instant gratificationEmpowered Expecting NOW! Not 5 minutes from now)Wired Multi-tasking Quickly bored Attracted to Large Social Movements Interdependent Mobile Impatient if delayed… But highly adaptable. 27
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  29. 29. 29
  30. 30. Develop a RECRUITMENT STRATEGY based on:-• Understanding workforce demographics• Identifying economic issues impacting organizational sustainability.• Identifying organizational & cultural issues impacting talent acquisition.• Knowledge of industry trends and emerging issues. 30
  31. 31. The worldwide survey includes special samples from: US: 1,217 India: 897 China: 660 UK: 607 Germany: 256 And from various key5,375 respondents industry sectorsincluding: 690 Engineering 625 Media3,011(18 - 25-year-olds) 736 Marketing, Finance &1,298 (26 - 35-year-olds) Communication396 (36 - 45-year-olds) 491 Information Art 551 Design 31
  32. 32.  Real Estate – UrbanWorkplace – travel, public, transport Channels Of Recruitment Total Rewards (compensation) HR & Org Policies (New Ways of Working / (Roles &Responsibilities) Facilities Management – Work space & environment Information Technology Management (Corporate Values & Work Environment Training & On-boarding Organizational CommunicationReward & Recognition 32
  33. 33. WORKPLACE TOTALREAL ESTATE CHANNELS OF REWARDS Access, travel, RECRUITMENT (COMPENSATIONUrban or rural location, & OTHERS) 33
  34. 34. 34•More than 70% prefer an urban to slightly TRAVEL - 7% would prefer to walk to work. Car isurban location still a favorite and on average 40% would prefer to travel to work by car UK – nation of Walkers• India has the most Generation Y US and India lead the un-environmentally friendly league for using cars. Prefer Publicdemanding an urban setting transport.• The UK has the highest proportion of ACCESS - China: Demand for rural settingsGeneration Y preferring a rural setting UK: Back to the City and urban settings India: Must be urban to attract the younger generations India has the most demanding workforce……
  35. 35. 35• 58% of all the respondents (against 56% for theGeneration Y) prefer to have a certain degree offlexibility  Equally 29% of the Generation• Women prefer more flexibility than men Y would like to have a gym on• The UK and the US Generation Y prefer towork the most flexibly while China and site and as well as communalIndia expect to work flexibly facilities
  36. 36. 36
  37. 37. 37 Identify Demographic Where Networks Lack Find New Networks Dimensions Diversity – Build Pipeline • Job Rotation• Gender • Explore formal, semi-formal, • Internal Promotions &• Age informal networks per region Transfers• Rural or Urban • Reference • Build relationships and gain • RTD/SKILLING credibility in each network To attract a diverse talent pool, company can focus on 3 types of networks FORMAL University, professional program, Consultants, Executive search, Professional job sites SEMI FORMAL Skilling companies INFORMAL Networks Social Media, networking events, HR communities
  38. 38. 38 Base payTransactional Total Total Cash Component rewards remuneration Employee benefits Learning and development Total reward Relational The work experience Non-financial rewards rewards Recognition, achievement, growth Security, stable consistent positions and rewards
  39. 39. TRANSACTIONAL COMPONENTS “Poor or good Pay Meritocracy Master’ Organisation• ‘Leading or lagging’ as • Performance Based per Industry Standards variable structure to - & ‘differentiate high performers’ Since ‘Total Rewards 39
  40. 40. One size won’t fit all. Develop aChange communication strategies different recruitment strategy for – (SOCIAL MEDIA) each generation - SKILLING & RTD Sell Opportunities not Careers Retention strategies need to be (TOTAL REWARDS & EVP) different for each generation in the workforce – SESSION - 4 40
  41. 41. 41
  42. 42. 42 Demand (in millions) for Skilled Training Capacity Vs. Skill Workers by 2015 Demand1614 Current Training Capacity12 3 Million10 8 6 Skilled Workers Demand 2015 83 Million 4 2 0 Auto Construction Retail Banking & Skilled Workers Demand 2022 500 Million Finance 64.8% OF India’s population would be in the working age of 15-64 years in 2026 (an increase from 62.9% in 2006). Taking into consideration the world population and how it ages, India has the advantage of the demographic dividend. This demographic advantage coupled with the global skilled labour shortage – means that India could be supplying skills to the world.
  43. 43. 43REVERSE ENGINEERING Might appear as “Costing” but in actual terms is “investment in Future Talent Pool”. Indian Economy 2022 BFSI Scenario Estimated growth Growth Requirement: in Insurance sector of •Rate of 7.4% in •240 million •Approx. 24 GI •15-20% of 2009-10 skilled Companies & 23 LI growth •Service sector workforce Companies prospects contributes - •BFSI alone 8.3% to GDP require – 4.2 m BACKWARD INTEGRATION IN PEOPLE SUPPLY CHAIN Talent Development at Pre-joining stage Quality Certification Sharing our Skilled Workforce i.e. Implemented by (as per Industry requirements in TALENT Institution requirement andterms of curriculum ACQUISITION standards)
  44. 44. 44 COMMUNICATION MEDIA ENGAGE ALL Use methods that are BRAND Gen Y’ers listen to theiraccessible and affordable families and friendsto potential candidates in that region Industry – are you Company – technologically equipped what`s the name FAMILIES+FRIE NDS Email ,text, phone, Linkedin, High EVP blog Manage All Social networking tools Brand Dimensions Leverage Current Employees for Modernize Follow Professionally New Talent Up Communication managed org
  45. 45. Organisational Culture Organisational Vision Work Environment Learning & Organisation’s Hygiene Development Factors Opportunities 45
  46. 46. Rohan, 26 newly married, Tailor your recruitment messages tohaving 5 yrs work exp in SAP the generation, but always tell thewas hired by a TOP-NOTCH truthMNC. Soon after joining he wasasked to relocate to a FIELDLocation within 3 months. Build personalization, choice, andThe same came as a surprise to control into all aspects of ourhim as he was not recruitmentcommunicated regarding this atthe time of Interview.What Would be Rohan Sell Opportunities and not a CareerReaction????? 46
  47. 47. ENGAGING GEN Y 47
  48. 48. Impatient Gen Y with their great & sometimes unrealistic expectations is clashing with the older “pay your dues” Gen X -Ron Alsop 48Remember…So these young employees have radically different expectations about • Real Estate • Workplace • Channels of Recruitment • Total Rewards (Compensation) • Facilities Management • HR & Org Policies (New Ways of Working / Roles & Responsibilities) • Information Technology • Management (Corporate Values & Work Environment) • Training / On-boarding/ Induction • Organizational Communication • Reward & Recognition
  49. 49. MISMATCH BETWEEN DIFFERENCE IN EXPECTAIONS MAY LEAD TO MISUNDERSTANDING & CONFLICT WITHIN ORGANIZATION 49 But they should not be considered as “Complainers”. Millennials’ tend to set high expectations for themselves and their Managers, if guided properly “They can be Rockets”• Have Patience• Understanding of Gen Y’s Motivators & Stressors•Constant Feedback•Coaching – not Managing•Multi task & Steep learning curve (they get bored easily)
  50. 50. HOW ARE YOU GOING TO KEEP MR. Y/MS. Y ENGAGED?? E-Commerce/ Digital InformationINDUSTRY Retail Sales Oil & Gas Industry Media Technology Nature Entrepreneur Based MNC Promoter Based Indian MNC/ JVTurnover 150 - 200 crores 700 - 800 crores 300 - 400 crores >1000 crores 1. Process driven, 1. Dynamic & High 1. Social Networking, 1. Adhoc decision making, 2. Profit oriented, Performance 2. Brand Visibility 2. Change management is 3. Knowledge sharing, 2. Great emphasis on through intelligent slow, Key 4. Technology transfer, R&D business alliances, 3. Traditional approach,Characte 5. Decentralized 3. Work life balance, 3. High risk appetite, 4. People Driven ristics decision making on the 4. High technological 4. Strong corporate organizations, basis of profit centers, expertise values, 5. Low risk appetite 6. Stringent Quality 5. High Performance 5. Flexible approach 6. Low infrastructure cost norms 6. Remote location DEFINING PARAMETERS Facilities Management Information Technology HR & Org Policies (New ways of working/ Roles Training/ On-boarding / Induction & Responsibilities) Organizational Communication Rewards & Recognition 50
  51. 51. Getting social with Talent is the Mantra of the day for this largely internally driven & self motivated generation. They need enablers in terms of freedom of Expressions & spontaneity in their operations. Key drivers would be having Technology ecosystemssimilar to what they access in their personal lives, Clear Expectations in terms of Roles & Job clarity, Flexibility, Respect & Recognition. MANAGEMEN HR & ORGTRAININGS/ T FACILITIES POLICIES R&RINDUCTION/ MANAGEMEN ON- (Corporate T (New ways of (Reward & BOARDING Values & Work (Support Systems) working/ Roles & Recognition) Environment) Responsibilities)
  52. 52. TRAINING /INDUCTION/ ONBOARDING 52FIRST STEP FOR A LONG CAREER…
  53. 53. TRAINING & ONBOARDING TRAINING INITIATIVES • E-learning • Academic Training • Face to face training • Mentoring/ Coaching • Train Leaders/Managers INDUCTION • Induction considered more important than earning more money or fast promotion - Up to 80% of Gen Y EMPHASIZE COMMUNITY: • New hires meet • Opportunity to bond, • Sharing Experiences and Learning • Buddy System UN-CONVENTIONAL TEAMS • Teams can be formed to encourage the Employees to mentor and think out of the box to tackle difficult issues as well as venture into new projects. E.g. Project 42Gen Y learn best when it is fun or through mentoring or coaching.• Negative comments for –’Online Training’ - 55% of new joinees•Some of the negative comments received - “poorly written,” “irrelevant,” “long winded and took up large amountsof personal time.” 53
  54. 54. CORPORATE VALUES & WORK ENVIRONMENT 54WHAT THE ORGANIZATION STANDS FOR…
  55. 55. Organizational Values• Clearly communicated Values• Highly aware of personal values and drivers (corporate citizenship) Corporate values & personal goals must align• CSR ActivitiesMind set of Older Gen vs. Gen Yers• Challenge is to manage “Attitude”. Older Gen might see IM, Blogging, Text messaging, social networking etc. as waste of time and a distraction of work, but these act as basic motivators for the Gen YSetting off new wave of Social & BusinessTransformation:• Wherever they are in the world and no matter how large or small their numbers, the signs are that they are setting off a new wave of social and business transformation that will equal or surpass what the Baby Boomers achieved 55
  56. 56. REWARD & RECOGNITION 56Appreciating the efforts…
  57. 57. STAR PERFORMERS• Regular Monthly/ Quarterly awards for Performance• Recognition on Company-wide forum etcEXTRA CURRICULAR ACTIVITIES• Activities to promote other talent of the Emp• Support local communitiesTAB SESSIONS• Small breaks from work . E.g. Quizs, one floor activities• Picnics, Out-door trainings 57
  58. 58. FACILITIES MANAGEMENT - Support Systems 58The “Hygiene factors” for making a successful Organization…
  59. 59. FACILITIES MANAGEMENT Social Spaces:For the Generation Y, the workplace is a social construction and work is social:Going to work is about meeting people and socializing within the working communityThe Generation Y is a sporty and social generation: there is a high demand for sport andsocial facilities on site. Style matters and should be modern rather than contemporary Women are more attracted to modern interior than Men Men are more attracted to minimalist interiors than Women Art should be present in the office, but not too much of it! 59
  60. 60. FACILITIES MANAGEMENT They need to identify to, &feel they own their workspaceThe large majority still want to have their own desk Less than a 1/5th are happy to share a desk Industry sector show major differences in theirMen are more comfortable in ways of working & cultural differences at work. wider space than women •Engineering industry - focused on team based activities Gen Y moto is “GO Green” •Media industry - prefer access to a large amount of breakout spaces •Finance sector - formal meeting spaces Technology Mobile technology is a priority Mobile and portable technologies should be provided as a priority; laptop rather than PC desktops, Blackberry rather than mobile phones Limit the provision of printers on desks and promote clean desk policies 60
  61. 61. FACILITIES MANAGEMENT CATERING & SOCIAL FACILITIES Preferences: • Roughly 30% of our time working/preparing for work /thinking • coffee shops (22%), about work, • snack facilities (18%) • 5% spend - eating and drinking • kitchen facilities (18%). • Only 2% - choosing not to have !!! • Vending machines (13%) • restaurant (14%) • Refectory (14%) RECEPTION AND SECURITY SUPPORT SERVICES • 79% - prefers at least a 5 Star service • India is the most demanding country in the workplace (reception services • The 18 to 25 yrs old are the most demanding age group & security guard) • The Finance Industry and Media, • 37% -concierge type of service (54% Communication & Marketing Industry are in India). the most demanding industry sectors • Male employees are more demanding than female employeesRecommendations• Access to social space• high standards of on site support & facilities management services• Access to social space and venues on-site• Sport facilities on site or close by• Shops and local amenities is preferable on site or within close proximity• Corporate Tie-Ups - Various Fitness Centers, Eating Joints, Health care facilities 61
  62. 62. FACILITIES MANAGEMENT Very high Importance ExpectationsMobile phone 53.1% 56.7% gave it: very high importanceLaptop 52.8% 49% gave it: very high importanceOrganizer /Blackberry 46.0% 52.5% gave it: very high importancePrinter 38.5% 44.9% gave it: very high importanceRecommendations•Mobile technology is a priority•Mobile and portable technologies should be provided as a priority; laptoprather than PC desktops, Blackberry rather than mobile phones•Limit the provision of printers on desks and promote clean desk policies 62
  63. 63. HR & ORGANIZATIONAL POLICIES 63New ways of Working/ Roles & Responsibilities
  64. 64. HR & ORGANIZATIONAL POLICIES New Ways of Working:• 56% prefer to work flexibly and chose when to workYoung Women (18-25 years old) prefer more flexibility than menThe UK and the US Generation Y prefer to work far more flexibly, while China and India expect to work flexiblyPublic recognition: for a job well done is more effective than a pay raise and no recognition79% prefer to be mobile rather than static workersPrefer to ‘Work from home’Want to be part of a team – but virtual teamMultiple work assignments – can multi-task like no generation before them 64
  65. 65. HR & ORGANIZATIONAL POLICIESTHE JOB MUST OFFER:1: Opportunities for Learning2: Quality of Life3: Work Colleagues INDIAN CONTEXT •Highly competitive, more than ever before … • seeking higher education •Job Hoppers – if no challenging work 65
  66. 66. HR & ORGANIZATIONAL POLICIESThey do not take well to orders and resent being handedbusywork with no explanation as to its purpose.Gen Y prefers ‘Self-role’ definition in the context of a work career.Creativity & productivity Technology + Ambiance & Atmosphere + People around = Creativity and Productivity 66
  67. 67. You Must Do Not• Assign Mentors • Micromanage• Communicate • Isolate with similar age groups• Offer different modes of learning (provide interaction with senior members, esp. Boomers)• Constant Feedback• Job Rotations / Variety of Work • Use the same management sytle with all generations• Align Organizational Goals with interests of employees • Delegate without making the connection to the bigger picture• Ask for new ideas and listen• Provide infrastructure for collaboration Private & Confidential 67
  68. 68. s 68M E R R I L L LY N C H PROGRAMS Coca - cola Accenture MicroSoft Awareness and  Horizontal movements  Corporate values  Project 42: Development & LeadershipSummits and personal goals heterogeneous Programs like  Diversity initiatives must align team based on – GoLearn- Blackberry  Devt through  Flexible work Trust, openness & Training , app. coaching environment job satisfaction Redesigned Analyst and  Performance Reviews  Multiple work  42New- for New Associate Development as Developmental Dis assignments joinees Program, cussions through  Future Leave  self-role definition- Reverse mentoring A Self-Funded concept coaching Parenting Pals days Sabbatical  Games as ‘change  Identifying natural tal Parents Day tools’ ent of Gen Y through  42Books People Development F orum
  69. 69. 69 So by successfully engaging Gen YGood news is engaging‘Whyers’ by rethinking a smart employer is wooing all & recreating the the co-workers workplaces will be • You cant give them moon appreciated not onlyby Gen Yers; but by all • Stressor & Enabler – fine balance other generations. • Create a plan for change… This is because they • Prioritize short term, long term & on-going also seek, what all aspects value regardless of age: • Increased Training • Team work • Trust - Respect • Constantly evaluation - - Opportunity - Meaningful • Expect great things Rewards
  70. 70. WHAT IS THE RISK IF WE DON’T MAKE THENECESSARY CHANGES TO ENGAGE GEN Y 70 MAKING WORK PLACE READY
  71. 71. FOOD FOR THOUGHT• Western Europe – they are scarce• In India : more than half of the population - unemployable• Disengagement will lead to - loss of highly innovative & productive work-work 71
  72. 72. MANAGING GEN Y 72
  73. 73. NOW SINCE WE UNDERSTAND THEIR BASIC CHARACTERISTICS WHAT CAN BE THE BEST RETENTION STRATEGIES 73• THE TRADITIONAL TALK & CHALK WONT WORK• THEY WANT FREEDOM• WE STRESS LEARNING THEY LIKE EXPERIENCE• WE REACT THEY RELATE• WE FOCUS ON INDIVIDUAL THEY ARE SOCIALLY DRIVEN
  74. 74. Current trends indicate that the majority of twenty-something’s do job-hoping every 18 months, a phenomenon often blamed on restlessness andexpectation to move up the ladder quickly. In a recent survey conducted , over 58% of Gen Y rated flexibility as extremely important or very important to them. While we realize, it is not always possible to offer flexibility, you should attempt to where you can. 74 COMMUNICATION • Medium • Style MANAGING MANAGING • Type WORK-LIFE EXPECTATIONS • Structure BALANCE
  75. 75. COMMUNICATION 75Getting in touch the Gen Y way… Direct • Monthly focus groups • Quarterly sessions • Management interaction with Emp • Team Huddle • Heterogeneous groups As per a study the Organizations where social sites such as ‘Facebook’ etc are banned, the propensity of Gen Y to leave the Organization is higher.
  76. 76. • Not only our • Highly Techno-savvy, so 76 communication style be PPT, Excels are their forte credible, but we must be • They are not impacted by as well slick presentations • They are simply seeking • No Rehearsed talk to understanding & respect manufactured speeches • No hidden agenda or Translucent REAL RAW • Should capture their • “They do not care how interest much you know until they • Style as well as content know how much you must be relevant care!!! • Visually educated & entertained generation RELEVANT RELATIONALCOMMUNICATION REQUIRES OPENNESS, VULNERABILITY, GENUINE INTERST & UNDERSTADNING
  77. 77. COMMUNICATIONOrganizational CommunicationStructure• Formal• InformalType of Communication• Downward• Upward• Horizontal 77
  78. 78. MANAGING WORK-LIFE BALANCE 78 Equilibrium between Work & Life…
  79. 79. MANAGING WORK-LIFE BALANCE Stressor Enabler ORGANISATI ONAL PROCESS - Tight Controls - Only downward ADMIN ORGANISATI communication POLICIES ONAL - Little WORKING AND STRUCTURE performance CONDITIONSSTRATEGIES & DESIGN feedback - Crowder work CREATE “Serial BOOST UP THE JOB LEVEL OF PAY SYSTEMS MAKING YOUR ENRICHMENT & - Centralized area Monogamy EMPLOYEE - Credible ORGANSATION A ENGAGEMENT- Downsizing - Centralization - Physical or Mentality” SATISFACTION NICE PLACE TO - Quality Work- Bureaucratic - Line – staff decision making - Commitment to - R&R - Good sense of converting WORK Life (overall work - Lack of mental strain the Job/Task” - Corporate performance into - Hygiene factors climate andRules conflicts - Poor Lighting instead of Wellness pay structures. culture)- Competitive - Role ambiguity participation in “organisational loyalty”. Programs - New Benefitspressures and conflict decisions- Rotating - No opportunity - Punitive(graveyard) shifts for advancement appraisal Systems- Merit Pay Plans - Restrictive/ Untrusting culture STRESSOR ENABLER MOTIVATING Skill variety + Task Identity + Task Significance POTENTIAL = x Autonomy x Feedback SCORE (MPS) 3 79
  80. 80. MANAGING EXPECTATIONS 805 action steps for ensuring loyal set of Gen YEmotional Engagement: They need to feel that they belong here.
  81. 81. MANAGING EXPECTATIONS Five action steps to ensure the most productive, innovative, and loyal set of Gen YTraining Gen Y employees employees.• Incorporate active and ongoing training• Focus on individual differences• Get them to identify with the organizationIntegration• Make them “own” a task• Coach, don’t Manage• Specific and Difficult challengesFeedback• Frequent Performance Evaluations• Hold them accountable• ListenDealing with Stressors• Emphasize Community• Looks can be deceivingIncentives for Generation Y• Flex time• Public recognition 81
  82. 82. Learning organizations are characterized by•58% probability that a systematically human oriented cultural values such asadministered pay combined with social -opennessrecognition and feedback for performance -teamworkreward system to employees in service -empathyorganizations will increase their performance -empowerment.more than those who do not receive this Best companies attract and retain their bestapproach in comparison to 90% probability in talents because they give a lot of attentionManufacturing Settings. and care to their cultures and values. 82
  83. 83. APPLYING THEORY Y TO THE GEN YTheory Y says humans are intrinsicallymotivated to do a good job, and if the rightconditions can be created, employees will givetheir discretionary time for free. 83
  84. 84. TURNING THE TABLE…RESPONSIBILITIES OF GEN Y 84 EXPECTATIONS FROM GEN Y FOR ALIGNING THE ORGANIZATIONAL GOALS AND WORKING TOWARDS A MORE SUCCESSFUL ORGANIZATION…
  85. 85. EXPECTATIONS FROM GEN Y•Adulthood” has been getting delayed•due to increasing prosperity-allowing parents to provide longer for theirprogeny•And increasing longevity “Thirty” is not “a kid.” Several younger generation workers in their late 20’s or early 30’s still want to do kid stuff, like spend every weekend on extreme sports or go out every night. 85
  86. 86. Green Money Service wants to implement CRM to encourage cross-selling Mr. Soham, 40 working throughout the org. 80%in an American MNC was workforce sales. deputed to South East Several Barriers stand in Asia for next 2 years. way, slow to change, low No family transfers acceptance from heads, No Schooling Grant leaders lack exp. In No Promotion Posting technology. Leaders are old-timers with org from What would have been 15 - 20 yrs, few are less Soham`s reaction???? that 2.5 yrs, some even 6 months It is frustrating…… 86 LETS DISCUSS…
  87. 87. GENERAL TAKE AWAYS• Generation Y is confident at a time of high anxiety• Generation Y values opportunity over job security• Gen Y wants – and is receiving – more responsibility, earlier• Gen Y trusts superiors and wants to work with them.• Generation Y is fundamentally different from other iconic generations. Talent management as a whole should aim at:  Socializing – Getting social with talent.  Transparency to encourage “meritocracy”.  Appreciation, Appreciation and Appreciation.  Technology ecosystem – similar to the employees’ technology ecosystem as they access in their personal lives.  Empowerment at young age. 87
  88. 88. Courtesy References listed below: INTERNET LINKS: •http://www.haworth-europe.com/en/content/download/8985/545674/file/Oxygenz-Report_2010_EN.pdf •http://www.learningtolearn.sa.edu.au/Colleagues/files/links/UnderstandingGenY.pdf •http://www.managementlab.org/files/site/publications/labnotes/mlab-labnotes-010.pdf •http://www2.honolulu.hawaii.edu/facdev/guidebk/teachtip/GenY.htm •http://jenniferbrownconsulting.com/site/wp-content/uploads/2010/09/New-Strategies-for-Gen-Y-Recruitment-White- Paper.pdf •http://careers.bmj.com/careers/advice/view-article.html?id=20000724 •http://sds.uncc.edu/sites/sds.uncc.edu/files/media/White_Paper_Gen_Y.pdf •http://en.wikipedia.org/wiki/Organizational_communication •http://www.deloitte.com/assets/DcomUnitedStates/Local20Assets/Documents/us_consulting_hc_GenerationY_Snapsh ot_041509.pdf •http://www.google.co.in/url?sa=t&source=web&cd=1&ved=0CBsQFjAA&url=http%3A%2F%2Fthecareerpartners.com%2 Fdocs%2Femergingworkplace%2FWhat%2520does%2520Gen%2520Y%2520Want.ppt&rct=j&q=What%20Does%20a%2 0Gen%20Y%E2%80%99er%20Want%20Work%2FLife%20Congress%20October%202%2C%202007&ei=7FuVTqKkEszM rQe0-YWlBg&usg=AFQjCNHzAh6b7uCawgIsdkPQ2i_jxeygdQ&cad=rja •http://www.google.co.in/url?sa=t&source=web&cd=1&ved=0CB4QFjAA&url=http%3A%2F%2Fwww.diversitybestpractic es.com%2Ffiles%2FKPMG.ppt&rct=j&q=Managing%20Three%20Generations%20of%20Employees%20%E2%80%93%20 KPMG&ei=AFyVTu5vjMutB4TkmMwG&usg=AFQjCNGii41Vf2O77RfWGIQMLbThEihSjQ&cad=rja JOURNALS: •Peer Bulletin – (issue 204) BOOKS: • COMPENSATION – by: George T. Milkovich, Jerry M. Newman, Carolyn Milkovich • Saving the World at Work: What Companies and Individuals Can Do to Go Beyond Making a Profit to Making a Difference [Hardcover] – by - Tim Sanders The data presented in the document is the intellectual property of aforesigned. Any rights including, inter alia, rights ofreproduction, communication to the public, adaptation and translation of the work should be done after prior permission from the Author. All rights reserved

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