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Hon paul chan
Hon paul chan
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Hon paul chan
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Hon paul chan
Hon paul chan
Hon paul chan
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Hon paul chan
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Hon paul chan

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  • 1. Greater China Talent Management Summit 2011“Definition of Success - Whats the Aspiration of Young People" July 8, 2011
  • 2. Agenda1. Survey Objectives2. Grouping of Working Population3. Survey Findings4. Survey Conclusions5. Literature Review6. Definition of Success
  • 3. 1. Survey Objectives  To help employers understand Generation Y on their characteristics and preferences at workplace  To develop appropriate strategies and tactics to work effectively with Generation Y  To exploit Generation Y’s talents for future business developmentSources : Survey conducted by Tamty McGill Consultants International Ltd. on behalf of CPD Alliance 3
  • 4. 2. Grouping of Working Population Silent Baby Boomer Generation Generation Generation Generation X Y Z 1922 1945 1964 1980 1994 Aged 65 or above Aged 46-64 Aged 30-45 Aged 16-29 Aged 15 or belowSources : Survey conducted by Tamty McGill Consultants International Ltd. on behalf of CPD Alliance 4
  • 5. 3. Survey Findings 4.2 Recruitment and Retention Ranking Scale: 1 = most important Ranking and mean scores of attributes which 5 = least important Generation Y would look for when they choose/stay in a job Ranking Employers Mean Working Gen-Y Mean 1st Monetary compensation and 1.81 2.30 benefits Monetary compensation and benefits 2nd 2.55 2.93 Clear and achievable career Clear and achievable career pathway pathway 3rd Interests and fun 3.10 Job security 3.20 4th Professional advancement 3.24 Professional advancement 3.21 5th Flexible timetable 3.43 Interests and fun 3.43 6th Job security 4.27 Flexible timetable 4.56Sources : Survey conducted by Tamty McGill Consultants International Ltd. on behalf of CPD Alliance 5
  • 6. 3. Survey Findings (cont’d) 4.3 Mentoring Style of mentor which Generation Y would prefer Employers Working Generation Y % % Directive mentor 21% 14% Supportive mentor 26% 48% Collaborative mentor 44% 27% Achievement-oriented mentor 9% 11%Sources : Survey conducted by Tamty McGill Consultants International Ltd. on behalf of CPD Alliance 6
  • 7. 3. Survey Findings (cont’d) 4.3 Mentoring Style of mentor which Generation Y would prefer (cont’d) Definition of the four mentoring styles: • A directive mentor: Gives all the instructions and rules • A supportive mentor: Offers help when you need according to the situation • A collaborative mentor: Allows you to have much freedom in work • An achievement-oriented mentor: Provides ongoing feedbackSources : Survey conducted by Tamty McGill Consultants International Ltd. on behalf of CPD Alliance 7
  • 8. 3. Survey Findings (cont’d) 4.4 Characteristics of Generation Y at Workplace Ranking 1 = Totally disagree Mean score of characteristics rated by respondents Scale: 6 = Totally agree Mean score of Characteristics Employers Working Gen-Y They want to participate in the decision made 3.89 4.37 related to their work. They are more adaptable to different working 3.21 4.31 environment They want to have more instant response when 4.14 4.30 communicating with the others They want to choose their working hours flexibly 4.49 3.92Sources : Survey conducted by Tamty McGill Consultants International Ltd. on behalf of CPD Alliance 8
  • 9. 3. Survey Findings (cont’d) 4.4 Characteristics of Generation Y at Workplace Ranking 1 = Totally disagree Mean score of characteristics rated by respondents Scale: 6 = Totally agree Ranking Employers Mean Working Gen-Y Mean 1st They want to choose their 4.49 They want to participate in 4.37 working hours flexibly the decision made related to their work. 2nd They want to have more 4.14 They are more adaptable to 4.31 instant response when different working communicating with the environment others 3rd They want to participate 3.89 They want to have more 4.30 in the decision made instant response when related to their work. communicating with the others 4th They are more adaptable 3.21 They want to choose their 3.92 to different working working hours flexibly environmentSources : Survey conducted by Tamty McGill Consultants International Ltd. on behalf of CPD Alliance 9
  • 10. 3. Survey Findings (cont’d) 4.4 Characteristics of Generation Y at Workplace Top five adjectives respondents used to describe Generation Y at workplace Ranking Employers Working Generation Y 1st Self-centered Creative 2nd Impatient Energetic 3rd Creative Self-centered 4th Lazy Hard-working 5th Irresponsible Enjoy freedomSources : Survey conducted by Tamty McGill Consultants International Ltd. on behalf of CPD Alliance 10
  • 11. 3. Survey Findings (cont’d) 4.5 Motivation and Rewards Comparison of employers’, working and non-working Generation Y’s view on rewards which can motivate Generation Y to improve at workplace Rewards Employers Working Gen- Y % % Satisfactory performance in their job 29% 40% Freedom at work execution 23% 12% Money and title recognition 44% 43% More meaningful work given 4% 5%Sources : Survey conducted by Tamty McGill Consultants International Ltd. on behalf of CPD Alliance 11
  • 12. 4. Survey Conclusions  Both employers and Generation Y think Generation Y are creative. However, employers comment that Generation Y are self-centered, impatient and irresponsible while Generation Y think they are hardworking and energetic  Since Generation Y employees seek more ownership of their job, they want to participate in the decision making process  Generation Y employees are at the start of their career, they desire more support and guidance from employers  Apart from money and title recognition, job satisfaction, learning opportunities and exposure from work are effective ways to motivate Generation YSources : Survey conducted by Tamty McGill Consultants International Ltd. on behalf of CPD Alliance 12
  • 13. 5. Literature Review Reference Information  Kathleen Shaputis, The Crowded Nest Syndrome: Surviving the Return of Adult Children, Clutter Fairy Publishing, 2004  Ron Alsop, The Trophy Kids Grow Up: How the Millennial Generation is Shaking Up the Workplace, Jossey-Bass, October 13, 2008  Don Taspcott, Grown Up Digital: How the Net Generation is Changing Your World, McGraw-Hill, 2008  Peter Sheahan, Generation Y: Thriving and Surviving with Generation Y at Work, Hardie Grant Books, 2005  Misti Burmeister, From Boomers To Bloggers: Success Strategies Across Generations, Synergy Press, LLC, 2008  Nicole A. Lipkin, Y in the Workplace: Managing the "Me First" Generation, Career Press, 2009  Bruce Tulgan, Not Everyone Gets a Trophy: How to Manage Generation Y, Jossey-Bass, 2009  《四代香港人》呂大樂著 香港進一步多媒體有限公司出版Sources : Survey conducted by Tamty McGill Consultants International Ltd. on behalf of CPD Alliance 13
  • 14. 5. Literature Review (cont’d) Comparisons of the Lifestyles of Multi - Generation Silent Baby Boomer Generation X Generation Y Generation Z Generation (1946 – 1964) (1965 – 1980) (1981 – 1994) ( After 1994) (1922 – 1945) Core  Respect     Optimism  Skeptical of  Democracy  Pluralism Values         authority          Community  Confidence  Efficiency         involvement  Adaptability          Fun  Social justice          Independence   authority  Individualism  “Duty before self” Sources :  Disciplined Hammill, Greg. (2005). Mixing and Managing Four Generations of Employees. Peter Sheahan, Generation Y: Thriving and Surviving with Generation Y at Work, Hardie Grant Books, 2005Sources : Survey conducted by Tamty McGill Consultants International Ltd. on behalf of CPD Alliance 14
  • 15. 5. Literature Review (cont’d) Comparisons of the Lifestyles of Multi – Generation (cont’d) Silent Baby Boomer Generation X Generation Y Generation Z Generation (1946 – 1964) (1965 – 1980) (1981 – 1994) ( After 1994) (1922 – 1945) Dealing  For saving  Conservative  Cautious  Earn to spend  Wise about with money Money  Pay cash  For saving  Buy now, pay management later  Money-savvySources : Survey conducted by Tamty McGill Consultants International Ltd. on behalf of CPD Alliance 15
  • 16. 5. Literature Review (cont’d) Generational Working Styles Silent Baby Boomer Generation X Generation Y Generation Z Generation (1946 – 1964) (1965 – 1980) (1981 – 1994) (After 1994) (1922 – 1945) Work  Value hard  Value job  Desire clear  Desire  Do not believe Ethic work status structure and autonomy in career and direction formal studies  Respect  Workaholic  Emphasize authority  Question job  Desire instant  Desire quality authority significance results  Adhere to rules  Adaptable to changesSources : Survey conducted by Tamty McGill Consultants International Ltd. on behalf of CPD Alliance 16
  • 17. 5. Literature Review (cont’d) Generational Working Styles (cont’d) Silent Baby Boomer Generation X Generation Y Generation Z Generation (1946 – 1964) (1965 – 1980) (1981 – 1994) (After 1994) (1922 – 1945) Work  Obligation  Exciting  Difficult  Means to  Do not value Values adventure challenge fulfill goal professions  Duty before fun  Ambitious  Fun in workSources : Survey conducted by Tamty McGill Consultants International Ltd. on behalf of CPD Alliance 17
  • 18. 5. Literature Review (cont’d) Generational Working Styles (cont’d) Silent Baby Boomer Generation X Generation Y Generation Z Generation (1946 – 1964) (1965 – 1980) (1981 – 1994) (After 1994) (1922 – 1945) Career  Build a legacy  Build a stellar  Build a career  Seek for  Build multi Goal career that can use personal tasking  Seek for job skills and development careers security and  Seek for job experience stability statusSources : Survey conducted by Tamty McGill Consultants International Ltd. on behalf of CPD Alliance 18
  • 19. 5. Literature Review (cont’d) Preferred Communication Methods Silent Baby Boomer Generation X Generation Y Generation Z Generation (1946 – 1964) (1965 – 1980) (1981 – 1994) (After 1994) (1922 – 1945)Communication  Formal  Personal  Expect ongoing  More  Rely on theStyle contact feedback informal virtual world  One on one  Call at anytime  Short messages  Instant  Resist verbal and face-to-face communication  InstantSources : Survey conducted by Tamty McGill Consultants International Ltd. on behalf of CPD Alliance 19
  • 20. 5. Literature Review (cont’d) Preferred Communication Methods (cont’d) Silent Baby Boomer Generation X Generation Y Generation Z Generation (1946 – 1964) (1965 – 1980) (1981 – 1994) (After 1994) (1922 – 1945) Communication  Phones  Cell phones  Cell phones  Internet  Internet Media  Write memo  E-mail  3G / 4G Cell  Instant phones/E-mail messaging  Mailed letter  Corridor  Social conversations interaction websitesSources : Survey conducted by Tamty McGill Consultants International Ltd. on behalf of CPD Alliance 20
  • 21. 5. Literature Review (cont’d) Preferred Communication Methods (cont’d) Silent Baby Boomer Generation X Generation Y Generation Z Generation (1946 – 1964) (1965 – 1980) (1981 – 1994) (After 1994) (1922 – 1945) Message  Reserved  More personal  Short and  Concise action  Online preferred direct words message  Polite  Use abbreviationsSources : Survey conducted by Tamty McGill Consultants International Ltd. on behalf of CPD Alliance 21
  • 22. 5. Literature Review (cont’d) Motivators Silent Baby Boomer Generation X Generation Y Generation Z Generation (1946 – 1964) (1965 – 1980) (1981 – 1994) (After 1994) (1922 – 1945) Motivating  Clear and  Love  Ask for their  Be more like a  Being friends style logical encourage- reactions and coach, less of with them ment opinions a boss Rewards  Satisfaction  Money and  Freedom is  Meaningful  Meaningful, in a job well title the best work challenging done recognition as reward work rewardsSources : Survey conducted by Tamty McGill Consultants International Ltd. on behalf of CPD Alliance 22
  • 23. 6. Definition of Success  Work life balance “Chasing Day Light”  Legacies  Value and meaning  Life influences lifeSources : Survey conducted by Tamty McGill Consultants International Ltd. on behalf of CPD Alliance
  • 24. 6. Definition of Success (cont’d)  Count our Blessing  Stewardship of Affluence  Stewardship of InfluenceSources : Survey conducted by Tamty McGill Consultants International Ltd. on behalf of CPD Alliance
  • 25. Thank You ! www.paulmpchan.hk Phone: 2894-6188 Email: paul@paulmpchan.hkHon. Paul M. P. Chan 25

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