Talent and the generations


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Talent and the generations

  1. 1. Talent and the GenerationsMichael Jenkins and Alex SwarbrickRoffey Park Institute
  2. 2. Welcome to the Roffey ParkTalent and the Generations Webinar Michael Jenkins Alex Swarbrick Chief Executive Senior Consultant Talent Webinar
  3. 3. Roadmap for today’s webinar  Getting on the same page about the generations  The generations at work around the world  Sourcing talent  Retaining talent  Developing talent  Taking action  Questions Talent Webinar
  4. 4. Data sources for the webinar  Roffey Park research including focus groups  Research by generational specialists around the world  Global information from HR directors and programme participants – UK, China, Japan, Singapore, Europe (western, central and eastern), the United States and Africa  Gen Y interviews with youngsters in the UK and Singapore Talent Webinar
  5. 5. Intergenerational issues – media hype? Yes, but …  Clear strategic issues for organisations across the world  Talent – Sourcing – Retention - expectations differ – Development into the future (10-15 years out) – Generational expectations and development strategies for HR Talent Webinar
  6. 6. The GenerationsTraditionals/Silents born 1909 -1945Boomers born 1946 -1964Traditional Boomers (1946-1954)*Generation Jones (1955-1964)*Generation X born 1965 – 1979Generation Y born 1980 – 1999Linksters/Millenials born after 2000*sub-division suggested in the Knoll report 2010: Generational Preferences Talent Webinar
  7. 7. Impact of differences at work  How do generational differences play out at work?  How will we source talent from different generations?  How do we retain talent across the generations, given their different expectations of the workplace?  What can organisations do to meet the development needs of talent into the future? Talent Webinar
  8. 8. Impact of differences at work Generational differences impact working styles and the psychological contract Talent Webinar
  9. 9. Working stylesGeneration Working styleTraditionals Directive, simple, clear Hierarchical, collective mindset, sharing wisdom,Boomers conservative, measured Fair, competent, straightforward, collaborative,Xers experimental within boundaries, reluctant respect for authority Challenging of authority, innovative, individualistic, fast-Gen Y paced, short-term focus, ambitious, narcissistic Talent Webinar
  10. 10. Psychological contractFactor Boomers Gen X Gen YDecision making Cautious Less risk averse Authority vested in hierarchy “I’ll express my view” Authority vested in competenceDevelopment Privilege Expected Expected Didactic style Organisation focus Personal focus Experimental styleCareer Progress with Progress with Progress against “my plan” seniority capabilityEngagement Loyalty to organisation Engagement earned by organisation Need purpose and opportunitiesLeadership Visionary Inspiring Trusted, Pace-setting, Authoritative Pace-setting Charismatic, Driven,© Roffey Park 2012 Measured Decisive, Coach Talent Webinar
  11. 11. A global phenomenon ?Talent Webinar
  12. 12. Talent Webinar
  13. 13. Key points from the Shanghai GeneralMotors sample – Gen Y on Gen Y  Enhancing personal expertise and realising one’s own self-worth (45%)  Linking closely promotion, pay rise and organisational growth (22%)  New challenges, continuous improvement (15%)  Taking on responsibility to work towards shaping the organisation’s future (14%)  Managing work-life balance (7%) Generation 80/90 – even though they love money and love their freedom, they love their future even more! Talent Webinar
  14. 14. How will we source talent from differentgenerations? Talent Webinar
  15. 15. What attracts Boomers?  Salary  Title  Status Talent Webinar
  16. 16. What attracts Gen X?  Entire package – not just money – Time off – Growth and development opportunities – Work-life balance/family priorities Talent Webinar
  17. 17. What attracts Gen Y?  They won’t settle for any job, or any package – Friendships – Making a valued contribution – Meaningful, challenging work – not mundane – Development prospects Talent Webinar
  18. 18. What matters to me  Family  Friends  Making a difference Talent Webinar
  19. 19. Talent Dilemmas  For the few or the many?  Transparent or secret?  Self-nominated or manager- nominated?  Individually tailored or generic?  Self-managed or organisation- managed?  Overlaid by generational considerations Talent Webinar
  20. 20. Retention - Boomers  Like being respected, especially for demonstrating their competence, and for experience  Career advancement doesn’t have to be linear and vertical – Sideways moves, and challenging projects can also be attractive  Flexible working arrangements – Sandwich generation; supporting both ‘boomerangers’ and aging parents Talent Webinar
  21. 21. Retention – Gen X  A good boss – Approachable – Listens to their needs – Integrity – Gives feedback & encourages development  Gen X will work diligently for a boss they respect Talent Webinar
  22. 22. Retention – Gen Y  Value given to their ideas  Opportunities to develop their skills – Coaching and mentoring  Want responsibility  Flexibility – Work isn’t the only thing in their life  Recognition – even for their potential Talent Webinar
  23. 23. Talent Webinar
  24. 24. Shanghai General Motors HR viewon Gen YA. Like being respectedB. Leaders need to be trusted and charismaticC. Like learning, exploring meaningful jobsD. Promote open communication and get timely feedback and approvalE. Like autonomy, flexibility and interesting working environmentF. Look forward to mentorship and coaching developments (career development) Talent Webinar
  25. 25. Implications for developingGen Y talent  Visionary and engaging leadership  Coaching skills  Followership and managing upwards Talent Webinar
  26. 26. What’s expected from Leaders  An interest in people  Able to listen to other people and their views  Direction (alongside me)  Inspiration  Great facilitation and communication skills  Decisiveness and control Talent Webinar
  27. 27. Implications for leadershipdevelopment  Moral dimension of leadership  Self awareness  Coaching behaviour change  Respect, value and inclusion  Leaders who develop leaders Talent Webinar
  28. 28. The next generation  Narcissistic  Unique  Highly intelligent  If I ruled the world … Talent Webinar
  29. 29. Talent Webinar
  30. 30. Productive “narcissists”-just what we need?  Bring passion  Challenge the status quo  Dare to break new ground  Boldly innovate  Provide vision  Inspire others  Drive organisations in new directions Talent Webinar
  31. 31. East-West similarities and differences:Narcissism in China too? Talent Webinar
  32. 32. Characteristics of the 80/90s (Gen Y) in China – a sharedunderstanding by those working with the 80s/90s  Positives: Independence, strives for success, individuality, full of ideas, jubilant, full of vigour, expressing individuality, innovative, willing to take responsibility for their actions, fervour  Negatives: Misanthropic (lacking in emotional intelligence – EQ), rebellious, puzzled/impetuous, frivolous/irritable, demonstrates helplessness, is a slave to housing/loan issues, wilful, (complains about a) perceived lack of opportunity (triggers job- hopping) Talent Webinar
  33. 33. Positive attributes of your generation  Technological awareness/communication  Creativity  Acceptance/embracing diversity  Community (on-line)  Close as a generation  Driven to succeed Talent Webinar
  34. 34. Negative attributes of your generation  A degree of arrogance  Indecisiveness  Being easily distracted  Impatient  Concern with weight and fashion  Materialistic  Technology (double- edged sword) Talent Webinar
  35. 35. Changing and adapting policies –examples from global organisations  An American IT company launching a diversity and inclusion programme (which includes generational diversity) and then pushing it out globally using new technology  A global financial services sector company which uses “high touch” contact through social chat rooms and information sessions Talent Webinar
  36. 36. Changing and adapting policies –examples from global organisations  An international bank that advertises employment benefits to older workforce stakeholders (like parents!) – relatively “low-tech”  A Chinese company taking the initiative to examine generational differences and adjust or refine its HR strategy accordingly Talent Webinar
  37. 37. Actions to consider  Have I undertaken a generational audit?  Have I thought about the overall psychological contract from a generational perspective?  Do I involve followers from across the generations in designing development initiatives?  Do I look for opportunities for cross-generational learning?  Am I supporting Gen Y’s first steps as managers?  Have I ensured that our leaders are generationally in tune with Talent Webinar their followers?
  38. 38. Time for discussion and questions Talent Webinar
  39. 39. Thank you to the students from Tanbridge House School and Christ’s Hospital School as well as volunteers from the Halogen Foundation, Singapore Olivia Hardy Alex Godsmark Bethany Dickson-CaveTof Odusolu Gus Streeting YunQing Alex Bland YenSiu Tash King Talent Webinar
  40. 40. For more information on Roffey Parkcontact Melissa Green Marketing & Business Development Manager tailored@roffeypark.com +44 (0)293 851644 +44 (0)7825 616281 Talent Webinar