Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

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Since 2009, London Business School has been issuing a survey to the participants of our executive education open enrollment Emerging Leaders Programme, asking their attitudes toward work, employee …

Since 2009, London Business School has been issuing a survey to the participants of our executive education open enrollment Emerging Leaders Programme, asking their attitudes toward work, employee engagement, and leadership paradigms.

Adam Kingl and Richard Hytner presented the results of the survey and their conclusions on working with generation Y at London Business School's flagship event, the Global Leadership Summit.

Learn more about what happened at #2014GLS: http://bit.ly/1tI2kNn
Learn more about the Global Leadership Summit: http://gls.london.edu

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  • 1. Generation Y Paradigms of Work and Leadership Adam Kingl, MBA2004 Director of Learning Solutions Executive Education Richard Hytner, SLN2003 Adjunct Assoc. Professor of Marketing Deputy Chairman, Saatchi & Saatchi
  • 2. Generations: • Silent Generation: 1925-1942 • Baby Boom Generation: 1943-1960 • Generation X: 1961-1981 • Generation Y: 1982-2004 • Generation Z, Plurals: 2005+
  • 3. Number of employers our: • Grandparents had: 1-2
  • 4. Number of employers our: • Grandparents had: 1-2 • Parents had: 3-4
  • 5. Number of employers our: • Grandparents had: 1-2 • Parents had: 3-4 • Gen X will have: 7-8 • Gen Y will have: 15-16
  • 6. Number of employers our: • Grandparents had: 1-2 • Parents had: 3-4 • Gen X will have: 7-8 • Gen Y will have: 15-16 So Gen Z will have 32??!
  • 7. Number of employers our: • Grandparents had: 1-2 • Parents had: 3-4 • Gen X will have: 7-8 • Gen Y will have: 15-16 So Gen Z will have 32??!
  • 8. Number of employers our: • Grandparents had: 1-2 • Parents had: 3-4 • Gen X will have: 7-8 • Gen Y will have: 15-16 So Gen Z will have 32??!
  • 9. It does appear that the number of employers DOUBLES with each generation… • Grandparents had: 1-2 • Parents had: 3-4 • Gen X will have: 7-8 • Gen Y will have: 15-16 So Millenials will have 32
  • 10. Let me say that again…32 employers in a lifetime!
  • 11. Emerging Leaders Programme survey • Surveying participant since 2009, 2 cohorts per year • Average age: 29
  • 12. We asked them: How long do you expect to stay with an employer? • 11+ years • 6-10 years • 3-5 years • 1-2 years
  • 13. We asked them: How long do you expect to stay with an employer? • 11+ years: 5% • 6-10 years • 3-5 years • 1-2 years
  • 14. We asked them: How long do you expect to stay with an employer? • 11+ years: 5% • 6-10 years: 5% • 3-5 years • 1-2 years
  • 15. We asked them: How long do you expect to stay with an employer? • 11+ years: 5% • 6-10 years: 5% • 3-5 years: 53% • 1-2 years
  • 16. We asked them: How long do you expect to stay with an employer? • 11+ years: 5% • 6-10 years: 5% • 3-5 years: 53% • 1-2 years: 37%
  • 17. We asked them: How long do you expect to stay with an employer? • 11+ years: 5% • 6-10 years: 5% • 3-5 years: 53% • 1-2 years: 37% • 90% plan to leave within 5 years • Over a third within 24 months!!
  • 18. What matters? • Work-life balance • CEO’s reputation • Promotion opportunities • Performance-based bonus • Share price performance • Openness to innovation • Employee benefit package • Organisational culture • Corporate social responsibility practice
  • 19. Most important factors in choosing an employer: 3) 2) 1)
  • 20. Most important factors in choosing an employer: 3) Promotion opportunities 2) 1)
  • 21. Most important factors in choosing an employer: 3) Promotion opportunities 2) Organisational culture 1)
  • 22. Most important factors in choosing an employer: 3) Promotion opportunities 2) Organisational culture 1) Work-life balance
  • 23. Putting the story together • 90% plan to leave within 5 years • 37% plan to leave within 2 years • 54% more loyal to team than to organisation • Top employer attractiveness factors do not include traditional benefits, bonuses, etc.
  • 24. Some implications: • Are long-term benefits (eg, pensions) valued anymore? Or do such benefits need to be more easily ‘carried around’? • Employers may need to redefine and reprioritise benefits: • Immediate talent development opportunities • Promotion opportunities based on performance and stronger mentor- mentee relationships rather than tenure • Can the employer proposition include a career path that assumes the employee may leave and come back? • Can the employers focus development and engagement more on teams rather than on individual ‘high-potential’ employees?
  • 25. Hierarchy does not exist in their minds. •Aspiring Gen Y leaders will not worship the Gen X gods of linear advancement and extrinsic reward. •Gen Y leaders are averse to hierarchical vertigo: ‘where on earth would 32 rungs up a ladder take you?’ •They see ‘a network of possible wanderings’. Helping a friend with her start-up, hopping to a corporate for some skills development, jumping into a not for profit for some front-line action, starting her own business from home.
  • 26. Hierarchy does not exist in their minds. •Aspiring Gen Y leaders will not worship the Gen X gods of linear advancement and extrinsic reward. •Gen Y leaders are averse to hierarchical vertigo: ‘where on earth would 32 rungs up a ladder take you?’ •They see ‘a network of possible wanderings’. Helping a friend with her start-up, hopping to a corporate for some skills development, jumping into a not for profit for some front-line action, starting her own business from home. They will have 32 opportunities to develop as leaders. •Each one is an adventure in its own right, not a stepping stone to some predetermined destination.
  • 27. Hierarchy does not exist in their minds. •Aspiring Gen Y leaders will not worship the Gen X gods of linear advancement and extrinsic reward. •Gen Y leaders are averse to hierarchical vertigo: ‘where on earth would 32 rungs up a ladder take you?’ •They see ‘a network of possible wanderings’. Helping a friend with her start-up, hopping to a corporate for some skills development, jumping into a not for profit for some front-line action, starting her own business from home. They will have 32 opportunities to develop as leaders. •Each one is an adventure in its own right, not a stepping stone to some predetermined destination. ‘Complete’ leadership is a dream state never quite attained.
  • 28. Progression not promotion Employers need to reframe the career conversation.
  • 29. Progression not promotion Employers need to reframe the career conversation. They need to co-create a portfolio of multiple opportunities that deliver directly to the Gen y leader’s personal purpose: • Responsibility • Recognition • Learning • Joy
  • 30. Progression not promotion Employers need to reframe the career conversation. They need to co-create a portfolio of multiple opportunities that deliver directly to the Gen y leader’s personal purpose: • Responsibility • Recognition • Learning • Joy Lateral as well as linear; sooner rather than later. .
  • 31. Progression not promotion Employers need to reframe the career conversation. They need to co-create a portfolio of multiple opportunities that deliver directly to the Gen y leader’s personal purpose: • Responsibility • Recognition • Learning • Joy Lateral as well as linear; sooner rather than later. C leadership roles rather than A roles alone. .
  • 32. Conventional leadership roles Organisational leader Business Unit leader Functional leader Team leader A instead of No 1
  • 33. Conventional leadership roles Organisational leader Business Unit leader Functional leader Team leader A instead of No 1 Consiglieri leadership roles Loadstone Educator Anchor Deliverer C instead of No. 2/3/4
  • 34. Title of the presentation Sub title Top priority if you were CEO? • Run things democratically • Retain only the most productive staff • Rotate staff to avoid complacency • Expand into new / emerging markets • Grow the current market • Ensure environmentally sustainable practice • Develop / promote innovation • Benefit the community • Diversify the business • Research customers more thoroughly
  • 35. Top two answers: 2) 1)
  • 36. Top two answers: 2) Expand into new / emerging markets 1)
  • 37. Top two answers: 2) Expand into new / emerging markets 1) Develop / promote innovation
  • 38. What type of CEO will you emulate? • Focus on how business is trading • Focus on global impact of the business • Focus on retaining the entrepreneur’s POV: ‘How’s my baby doing today?’ • Focus on renewing personal mission: ‘How do I make my organisation and world a fundamentally better place?’ • Focus on financial worth of the business
  • 39. What type of CEO will you emulate? 11.5% Focus on how business is trading • Focus on global impact of the business • Focus on retaining the entrepreneur’s POV: ‘How’s my baby doing today?’ • Focus on renewing personal mission: ‘How do I make my organisation and world a fundamentally better place?’ • Focus on financial worth of the business
  • 40. What type of CEO will you emulate? 11.5% Focus on how business is trading 11.5% Focus on global impact of the business • Focus on retaining the entrepreneur’s POV: ‘How’s my baby doing today?’ • Focus on renewing personal mission: ‘How do I make my organisation and world a fundamentally better place?’ • Focus on financial worth of the business
  • 41. What type of CEO will you emulate? 11.5% Focus on how business is trading 11.5% Focus on global impact of the business 33% Focus on retaining the entrepreneur’s POV: ‘How’s my baby doing today?’ • Focus on renewing personal mission: ‘How do I make my organisation and world a fundamentally better place?’ • Focus on financial worth of the business
  • 42. What type of CEO will you emulate? 11.5% Focus on how business is trading 11.5% Focus on global impact of the business 33% Focus on retaining the entrepreneur’s POV: ‘How’s my baby doing today?’ 43% Focus on renewing personal mission: ‘How do I make my organisation and world a fundamentally better place?’ • Focus on financial worth of the business
  • 43. What type of CEO will you emulate? 11.5% Focus on how business is trading 11.5% Focus on global impact of the business 33% Focus on retaining the entrepreneur’s POV: ‘How’s my baby doing today?’ 43% Focus on renewing personal mission: ‘How do I make my organisation and world a fundamentally better place?’ 1% Focus on financial worth of the business
  • 44. Let me say that again…1% would focus on financial worth!
  • 45. Financial worth is no longer king! • We’re crossing a meridian where social and community impact is more important • Shareholder value is an outcome, not an output • Will be initial tensions and growing pains among organisations and public markets about expectations • What happens when the CEO doesn’t care about the share price today? • What happens when the investor doesn’t care about the share price today? • Will the next generation of leaders at last have the courage (and possibly the permission) to think long-term, beyond quarterly results?
  • 46. A CEO – or A - for our Gen Y times • Ultimately accountable • Team decider • Trusted • Emotionally intelligent • Serving a higher order purpose • Able to embody that purpose – personally • Able to sustain that purpose • Authentic in the limelight • An impermanent first among equals
  • 47. Challenges for the Gen Y CEO • Long-term sustainability vs short-term seduction
  • 48. Challenges for the Gen Y CEO • Long-term sustainability vs short-term seduction • Social currency vs personal currency
  • 49. Challenges for the Gen Y CEO • Long-term sustainability vs short-term seduction • Social currency vs personal currency • Avoidance of global warming – too much exposure to the limelight
  • 50. Challenges for the Gen Y CEO • Long-term sustainability vs short-term seduction • Social currency vs personal currency • Avoidance of global warming – too much exposure to the limelight • Active listening – long distance
  • 51. Challenges for the Gen Y CEO • Long-term sustainability vs short-term seduction • Social currency vs personal currency • Avoidance of global warming – too much exposure to the limelight • Active listening – long distance • Revealing your generosity – selfies are bad for your image
  • 52. Challenges for the Gen Y CEO • Long-term sustainability vs short-term seduction • Social currency vs personal currency • Avoidance of global warming – too much exposure to the limelight • Active listening – long distance • Revealing your generosity – selfies are bad for your image • Nurturing the culture
  • 53. Challenges for the Gen Y CEO • Long-term sustainability vs short-term seduction • Social currency vs personal currency • Avoidance of global warming – too much exposure to the limelight • Active listening – long distance • Revealing your generosity – selfies are bad for your image • Nurturing the culture • Casting and curating your C leaders
  • 54. Generation Y Paradigms of Work and Leadership Adam Kingl akingl@london.edu Richard Hytner rhytner@london.edu