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Generational Issues

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A presentation of the 4 generations that currently make up today\'s workforce.

A presentation of the 4 generations that currently make up today\'s workforce.

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Generational Issues Generational Issues Presentation Transcript

  • Managing Across the Generations BY: Peter A. Margaritis, CPA
  • Managing Across the Generations
  • The Generations
    • The Veterans: 1922-1943
      • 52 million people
    • The Baby Boomers: 1943-1964
      • 73 million people
    • Generation X: 1965-1980
      • 60 million people
    • The Millennials (Gen Y): 1980-2000
      • 70 million people
  • The Veterans (1922-1943)
    • 52 million
    • 62 years and older
    • Responsible for much of this country’s greatest achievements
    • Hold the majority of this nation’s wealth
  • Veterans: Influential Events
    • Stock Market Crashes
    • U.S. Depression
    • The New Deal
    • Social Security
    • Korean War
    • D-Day in Normandy
    • Pearl Harbor
  • The Veterans: Core Values
    • Dedication
    • Hard work
    • Conformity
    • Law and Order
    • Patience
    • Sacrifice
    • Rarely used “I” or “Me” in the workplace. It was all about the company
  • The Baby Boomers (1943-1964)
    • 73.2 million strong
    • Ages 45-61
    • Defining culture for the past 4 decades
  • The Baby Boomers: Defining Moments
    • McCarthy hearings
    • Rosa Parks
    • First nuclear power plant
    • Elvis appears on Ed Sullivan - swiveling hips are censored
    • Barbie Doll is born
    • Kennedy Elected & Assassinated
    • “ I have a Dream Speech”
    • Vietnam War
    • Haight – Asbury District, San Francisco
  • The Hippie Movement
    • Anti-war protest
      • It ain't me, it ain't me, I ain't no military son.  Creedence Clearwater Revival (Fortunate Son)
    • The Summer of Love: San Francisco, 1967
      • Made up my mind to make a new start.  Going to California with an aching in my heart.  Someone told me there's a girl out there  With love in her eyes and flowers in her hair.  Led Zeppelin (Goin' to California)
    • The Democratic Convention: Chicago 1968
    • Woodstock 1969
      • The New York State Freeway's closed, man. Far out!  Arlo Guthrie at Woodstock
    • Kent State Massacre, 1970
      • Tin soldiers and Nixon coming, we're finally on our own. Crosby, Stills, Nash & Young (Ohio)
  • Baby Boomers: Core Values
    • Optimism
    • Team orientation
    • Personal gratification
    • Health
    • Work, Work, Work
    • Involvement
    • Wellness
  • Boomer Work Ethic
    • Follow the rules, learn to fit in, and stay in line.
    • Large supply of workers – easily replaced
    • Work harder and longer to keep job
    • Took work home
    • Work ethic defined by number of hours worked daily or weekly
    • Coined the term workaholic
    • Seat time – highly visible
  • The Gen X Perspective (1964-1980)
    • 60.1 million
    • Ages 26-45
    • This generation was the first of the latchkey kids
    • Saw parents both committed heavily either to work or if mom stayed home…the community
    • The first generation predicted not to do better financially then their parents
  • The Gen Xers: Influential Moments
    • Arab terrorist at Munich
    • Watergate - Nixon
    • Energy crisis
    • Three Mile Island
    • US corporations begin massive layoffs
    • Iran holds 66 Americans hostage
    • John Lennon is killed
    • Challenger disaster
  • The Gen Xers:Core Values
    • Diversity
    • Thinking globally
    • Balance
    • Technoliteracy
    • Fun
    • Informality
    • Self-reliance and pragmatism
  • The Gen X: Generational Personality
    • A sense of balance
    • A non-traditional orientation about time and space
    • Live-Aid, Farm-Aid, We are the World
  • The Millennials (Gen Y)
    • Born after 1980
    • 69.7 million of them
    • 25 and younger
    • Many see these individuals as the next “Greatest Generation”
    • Studies have shown a marked resemblance to the veterans with respect to values
  • The Unique World
    • They study the 60’s as history, with no nostalgia.
    • They have no memory of the Cold War
    • The Tonight Show has always been hosted by Jay Leno
    • Popcorn has always been cooked in the microwave
    • If you tell them that they sound like a broken record, they’ll ask, “What’s a record?”
  • Millennials Influential Moments
    • Events and Trends:
      • Oklahoma City bombing
      • Colombine Shootings
      • Princess Di’s Death
      • Mark McGuire/Sammy Sosa
      • Clinton/Lewinsky
      • September 11, 2001
  • The Millennials: Core Values
    • Optimism
    • Civic Duty
    • Confidence
    • Achievement
    • Sociability
    • Morality
    • Street Smarts
    • Diversity
  •   What its been like growing up
    • 1 in 4 lives in single-parent household
    • 3 in 4 have working mothers
    • Raised in dual income families
    • Raised during years of unique wealth in this country – have known only comfort and prosperity
    • Raised by parents who wanted their children to be their friend
  • Your New Hires
    • They come to your organization more than $20,000 in tuition debt
    • They get 7 hours of sleep a night but need more
    • They average 3.5 hours a day online, mostly in social activities
    • They listen to an average of 2.5 hours of music each day
    • They average more than 2 hours a day on the cell phone, mostly in social activities
    • They are the one’s that were considered “Baby On Board”, “Precious Cargo”, etc…
  • Where the Conflict Surfaces - VBXM
    • Role of the manager
    • Employer/employee loyalty
    • What constitutes a good day’s work
    • Communication
    • Criteria for leadership
  • Lifestyle Differences
    • V: work hard, save $$, 2 week vacation
    • B: work hard, play hard, spend hard & talk about it
    • X: work hard if it doesn’t interfere, worry about $$, save $$
    • M: good grades, work hard, save $$, make others pay
  • Work vs. Lifestyle
    • V: work first
    • B: work first
    • X: life first
    • M: lifestyle first
  • Loyalty
    • V: loyal to employer
    • B: loyal to employer
    • X: loyal to skills, individuals
    • M: loyal to skills, individuals
  • Workplace Snapshot – Gen X & Millennials
    • Measure work ethic by getting the job done, not by how many hours you work a week.
    • Time is a commodity
    • Cynical of meetings
    • Unimpressed by receiving “hardware” as a recognition tool
    • Believe that work can and should be fun
  • Change the Ladder to Lattice
    • Change the “Up or Out” culture
    • Allow more of a “lattice” culture
    • Begin to adopt Mass Career Customization philosophy
    • Does it work for you?
  •  
  • Sources
    • Generations at Work: Zemke, Raines and Filipczak
    • Beyond Generation X: Claire Raines
    • Naked Management: Mark Muchnick
    • X’ers, Boomers and Other Strangers: Raines
    • Millennials Go to College: Howe & Strauss
    • Geeks & Geezers: Warren Bennis & Robert Thomas
    • Managing Different Generations Requires New Skills, Insightful Leadership”, M M Kennedy, The Physician Executive
    • Communicating Total Rewards to the Generations: Leah Reynolds
    • Motivating Across Generations: D. Stauffer HBR
    • Motivating The “What’s In It For Me?” Workforce: Cam Marston
    • Comedy at The Edge: Richard Zoglin
    • Mass Career Customization. Aligning the Workplace with Today's Nontraditional Workforce: Cathy Benko, Anne C. Weisberg