June2 lfws frederick_shrm_slides

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Frderick County SHRM Live First, Work Second slide deck.

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June2 lfws frederick_shrm_slides

  1. 1. Live First, Work Second: Getting Inside the Minds of the Next Generation Molly Foley, Next Generation ConsultingWednesday, June 1, 2011
  2. 2. Who is the “Live First, Work Second” next generation? How did we get here?Wednesday, June 1, 2011
  3. 3. I must run a dry-cleaning shop so my sons can go to medical and law school, in order that their sons may study sociology and communications, so that their children can run vintage clothing stores, act in avant-garde theatre, and work in coffee shops. Immigrant grandfather in Joseph Epstein’s Snobbery: The American VersionWednesday, June 1, 2011
  4. 4. The next generation’s Live First, Work Second, work ethic is not some out-of- nowhere, cosmic, egotistical self- expression.Wednesday, June 1, 2011
  5. 5. It’s a natural next step in a generation- after-generation progression of economic life in developed societies.Wednesday, June 1, 2011
  6. 6. Maslow’s Heirarchy of Needs Millennials Gen X’ers Boomers SilentsWednesday, June 1, 2011
  7. 7. Silents, b. 1925-1942 •Turning 69-86 years old in 2011 •Safety Needs •Came of age during Great Depression & WWII •Roosevelt’s “The New Deal” ensured adequate income to secure food, housing, etc.Wednesday, June 1, 2011
  8. 8. Silent’s secured “Safety Needs” allowing Baby Boomers to set their sights higher up the hierarchy…Wednesday, June 1, 2011
  9. 9. Baby Boomers, b. 1943-1961 •Turning 51-68 years old in 2011 •Belonging Needs •Came of age during Vietnam, Woodstock, MLK •First workaholics, current executives •Most believe young talent should place same importance on work as they doWednesday, June 1, 2011
  10. 10. In a Boomer world, everyone belongs. This paved the way for the independent Generation X...this first “next generation”.Wednesday, June 1, 2011
  11. 11. Generation X, b. 1962-1981 •Turning 30-49 years old in 2011 •Esteem Needs •First latchkey kids as both parents worked •Value independence and freedom. •Mavericks, go-it-alone mentalityWednesday, June 1, 2011
  12. 12. In our communities, Gen Xers fierce independence has caused a dwindling of civic and social clubs - think Rotary. At work, Gen Xers are sometimes more likely to question their leaders than follow them.Wednesday, June 1, 2011
  13. 13. Millennials, b. 1982-2001 •Turning 10-29 years old in 2011 •Self-Actualization Needs •Grew up with scheduled activity-after-activity •Strong parent advocacy...”you are special”Wednesday, June 1, 2011
  14. 14. To self-actualize, Maslow says: Teach people to be authentic, to be aware of their inner selves and to hear their inner-feeling voices.Wednesday, June 1, 2011
  15. 15. To self-actualize, Maslow says: Teach people to be authentic, to be aware of their inner selves and to hear their inner-feeling voices.Wednesday, June 1, 2011
  16. 16. To self-actualize, Maslow says: Teach people to transcend their cultural conditioning and become world citizens.Wednesday, June 1, 2011
  17. 17. To self-actualize, Maslow says: Teach people to transcend their cultural conditioning and become world citizens.Wednesday, June 1, 2011
  18. 18. To self-actualize, Maslow says: We should help people discover their vocations in life, their callings, fates, or destinies. This is especially focused on finding the right career and the right mate.Wednesday, June 1, 2011
  19. 19. To self-actualize, Maslow says: We should help people discover their vocations in life, their callings, fates, or destinies. This is especially focused on finding the right career and the right mate.Wednesday, June 1, 2011
  20. 20. To self-actualize, Maslow says: We should refresh consciousness, teaching people to appreciate beauty and the other good things in nature and in life.Wednesday, June 1, 2011
  21. 21. To self-actualize, Maslow says: We should refresh consciousness, teaching people to appreciate beauty and the other good things in nature and in life.Wednesday, June 1, 2011
  22. 22. Why does the next generation matter?Wednesday, June 1, 2011
  23. 23. Economics Demographics PsychographicsWednesday, June 1, 2011
  24. 24. 1. Economics: Shift from goods based to knowledge based economyWednesday, June 1, 2011
  25. 25. Founded 2005 Founders: Steve Chen, Chad Hurley, Jawed Karim Age: 27, 29, 26Wednesday, June 1, 2011
  26. 26. Founded in 2004 Founder: Mark Zuckerberg Age: 20Wednesday, June 1, 2011
  27. 27. Founded in 2006 Founder: Jack Dorsey Age: 30Wednesday, June 1, 2011
  28. 28. 2. Demographics The greying of our workforceWednesday, June 1, 2011
  29. 29. Wednesday, June 1, 2011
  30. 30. In developed countries, the dominant factor will be...the rapid growth in the older generation, and the shrinking of the younger generation. Peter Drucker, Managing in the Next SocietyWednesday, June 1, 2011
  31. 31. Wednesday, June 1, 2011
  32. 32. Wednesday, June 1, 2011
  33. 33. In the U.S., 10,000 people are turning the age 65 everyday. US Bureau of Labor StatisticsWednesday, June 1, 2011
  34. 34. 60 52 40 20 21 0 -10 -20 Age 35-44 Age 45-54 Age 55-64 2010 Percentage Change of Age in US WorkforceWednesday, June 1, 2011
  35. 35. 3. Psychographics: Next-gen chooses & lives differentlyWednesday, June 1, 2011
  36. 36. Lives First, Works Second Where I live is as important as where I work.Wednesday, June 1, 2011
  37. 37. Are free agents. By the time I’m 32, I’ll have had up to nine jobs.Wednesday, June 1, 2011
  38. 38. Are skeptical. More people under 40 believe they will see a UFO than receive Social Security. Tech-savvy.Wednesday, June 1, 2011
  39. 39. Tech Savvy Work that can be done over a wire can be done anywhere.Wednesday, June 1, 2011
  40. 40. Life online is Life Social world is an online worldWednesday, June 1, 2011
  41. 41. 30 is the new 20 Adulthood has been pushed backWednesday, June 1, 2011
  42. 42. Millennials have grown up with “parent advocacy”.Wednesday, June 1, 2011
  43. 43. 60% of Millennials in their 20’s receive support from parents.Wednesday, June 1, 2011
  44. 44. How can we attract and engage young talent?Wednesday, June 1, 2011
  45. 45. Intentional Design What if we (re)designed our workplaces & cities with the next generation of leaders in mind?Wednesday, June 1, 2011
  46. 46. Build on your assets and invest in the amenities that matter to your target demographic.Wednesday, June 1, 2011
  47. 47. Jobs are one of the SEVEN factors young talent weigh when choosing their place to live.Wednesday, June 1, 2011
  48. 48. However, its the RIGHT job and RIGHT work culture that matter most to young talent...Wednesday, June 1, 2011
  49. 49. We’ve interviewed and surveyed over 50,000 executives and young employees and here’s what we’ve learned...Wednesday, June 1, 2011
  50. 50. People Profit The evidence behind Next Companies® shows that people- centered practices can be profitable, and that profitable businesses can be people-centered.Wednesday, June 1, 2011
  51. 51. What do you want your employees to be “homesick” for? Six Dimensions of Engagement 51Wednesday, June 1, 2011
  52. 52. TrustWednesday, June 1, 2011
  53. 53. We are who we say we are!Wednesday, June 1, 2011
  54. 54. Trust in the workplace means... Managers believe employees want to be productive. Employees are enthusiastic and passionate about their work and the company’s mission. People cooperate and collaborate, leading to positive workplace interactions, higher profits, and greater productivity.Wednesday, June 1, 2011
  55. 55. Management My manager gets the best work out of everyone on our team.Wednesday, June 1, 2011
  56. 56. In their groundbreaking research outlined in First Break All The Rules, authors Buckingham and Coffman state: Talented employees need great managers. How long an employee stays and their productivity is determined by their relationship with their immediate supervisorWednesday, June 1, 2011
  57. 57. In our research among 20-40 year olds, when asked, “Why did you leave your last job?” the most common responses all fall into one category: bad managementWednesday, June 1, 2011
  58. 58. Trust and Management The Foundation of a Next CompanyWednesday, June 1, 2011
  59. 59. Life-Work Balance I can have a life and a career.Wednesday, June 1, 2011
  60. 60. People under 40 are twice as likely to rate Life-Work Balance as their number one.Wednesday, June 1, 2011
  61. 61. When asked what their “ideal hours” would be, most Millennials (67%) chose 40 hours per week. NGC Panelist Survey 2009Wednesday, June 1, 2011
  62. 62. For Millennials, Life-Work Balance means: 1) Flexible hours (e.g. compressed work week) 2) A fair and reasonable workload 3) The option to work from homeWednesday, June 1, 2011
  63. 63. Rewards I am rewarded - with pay, perks (benefits), and pats on the back (recognition) - in line with my contribution.Wednesday, June 1, 2011
  64. 64. Surprise them by noticingWednesday, June 1, 2011
  65. 65. Development I am expected and encouraged to learn and grow.Wednesday, June 1, 2011
  66. 66. In terms of DEVELOPMENT... Challenging, non-repetitive work Opportunities to assume leadership roles on projects Employer support to pursue training, advanced degrees or certificationsWednesday, June 1, 2011
  67. 67. At Google, employees are encouraged to work 20% of their time outside of their job description.Wednesday, June 1, 2011
  68. 68. Connection I feel that I am a part of something bigger.Wednesday, June 1, 2011
  69. 69. In terms of CONNECTION... Working for a company whose values and mission resonate with my own Having pride in my job and my company Working in a team environmentWednesday, June 1, 2011
  70. 70. Life-Work Balance Development Connection Rewards Trust ManagementWednesday, June 1, 2011
  71. 71. Importance of dimensions based on Life-stageWednesday, June 1, 2011
  72. 72. Age & Gender Years of experience in field Years of experience in organization # and age of children # and age of adult dependents Martial status Supervisor status Employment status of spouse/partner Race/ethnicity IncomeWednesday, June 1, 2011
  73. 73. Younger, less experienced workers value life-work balance & development more.Wednesday, June 1, 2011
  74. 74. Men favor rewards & women favor balance more.Wednesday, June 1, 2011
  75. 75. Life-work balance is significantly more important for parents with young children.Wednesday, June 1, 2011
  76. 76. Top 3 Young Talent Magnets: Compensation / Rewards Flexible Schedules / LWB Learning Opportunities / DevelopmentWednesday, June 1, 2011
  77. 77. Tips for recruiting the next generationWednesday, June 1, 2011
  78. 78. Think beyond college job fairs:Wednesday, June 1, 2011
  79. 79. Think beyond college job fairs:Wednesday, June 1, 2011
  80. 80. Think beyond college job fairs:Wednesday, June 1, 2011
  81. 81. Think beyond college job fairs:Wednesday, June 1, 2011
  82. 82. Visiting a location and getting to feel what it would be like to work and live in that atmosphere. Meeting people that I would be working with. Emphasizing how the company is involved in the community. 27-year-old femaleWednesday, June 1, 2011
  83. 83. Quality of place plays a key role in your recruitment efforts. Capitalize on your community’s distinctivenessWednesday, June 1, 2011
  84. 84. Seven Indexes to measure quality of placeWednesday, June 1, 2011
  85. 85. Cost of Lifestyle Can I afford to live and OF LIFESTYLE COST play here? Can I afford to live here?Wednesday, June 1, 2011
  86. 86. Earning The quality and diversity of job and career opportunities.Wednesday, June 1, 2011
  87. 87. Vitality Does the community value a healthy lifestyle?Wednesday, June 1, 2011
  88. 88. Learning Is this a “smart” community, and one that values ongoing education?Wednesday, June 1, 2011
  89. 89. Around Town How easy is it to get around - and in and out of - town?Wednesday, June 1, 2011
  90. 90. After Hours What’s there to do after work, and on weekends?Wednesday, June 1, 2011
  91. 91. Social Capital Does the community engage all people?Wednesday, June 1, 2011
  92. 92. Young Talent Ranking of Indexes INDEX VALUE PERCEPTION +/- COST OF LIFESTYLE 98% 78% -20% EARNING 96% 52% -44% VITALITY 93% 63% -30% AROUND TOWN 91% 75% -16% LEARNING 91% 73% -18% SOCIAL CAPITAL 87% 48% -39% AFTER HOURS 87% 63% -24%Wednesday, June 1, 2011
  93. 93. Bottomline Great talent drives economic prosperity. Talent clusters in the cities & regions that have the assets and amenities they value and the companies that value them.Wednesday, June 1, 2011
  94. 94. Look at the... Policies Attitudes Behaviors Social Networks How do you embrace the LFWS mindset?Wednesday, June 1, 2011
  95. 95. www.nextgenerationconsulting.com mf@nextgenerationconsulting.com Twitter: mfoleyngc Resource Page: http://tinyurl.com/LFWS-FrederickSHRMWednesday, June 1, 2011

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