Decoding Generational Differences Presentation 050109

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    Notes on slide 1

    Here’s a summary of how Millennials want to workI want to point out the bottom arrow which indicates that Millennials have a very positive trait as shownOpportunities to be coached and mentored by leaders they respectA long-term relationship with an employerOur research shows that the savvy employer who meet this need for stability and development will most likely be rewarded with an engaged and committed workforce of all generations but especially Millennials

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    Decoding Generational Differences Presentation 050109 - Presentation Transcript

    1. Decoding Generational Differences… Bernard L. Schwartz Communication Institute Annual Symposium at Baruch College 05/01/09 W. Stanton Smith Principal, National Director, Next Generation Initiatives Deloitte LLP
    2. Key generational differentiators • Traditionalists (born prior to 1946) – Work, work, work more if you ask me (and even if you don’t) • Baby Boomers (born from 1946 to 1964) – Work, work, work…it’s what we are all about • Gen X (born from 1965 to 1980) – Work, work some more with flexibility, work even more? Let’s talk… • Millennials (born after 1980) – Work flexibly anywhere, anytime, on my terms…Work even more?…How lame is that! I’ve just texted all my friends to tell them how lame you are!! * At least from some Boomers’ POV 2
    3. Gen Y ambivalence towards process & over-reliance on technology: “but I spell checked it” – a boomer nightmare We are not here to praise process, but too berry it --- with apologies to William Shakespeare (whatever) 3
    4. The five commitments • Best practices which promote success in generations working together can be summarized as: • The Five Commitments to: – Understanding the four things that won’t change – Leveraging what all generations have in common – Applying the corporate lattice – Using knowledge transfer techniques to connect the generations – Becoming a leader worth following by adopting the 4 A’s as a mindset 4
    5. Understanding the four things that won’t change 1. The non-traditional family unit makes up the vast majority of households 2. Flexibility and career customization are necessities for workers 3. Workers (especially generation Y) are re-defining the place of work in their lives 4. A set of three realities – technology, attitudes toward business, and a consumer mindset, have fundamentally affected how millennials view the world. 5
    6. The three divides • Technology • Attitude toward business • Consumer attitude mindset 6
    7. How generation Y wants to work • A sense of purpose and meaning in their work Positive Work • Honest, open communication Environment • Support for innovation and an openness to new ways of doing things • Sense of fun • A flexible definition of the work day and the workplace Flexibility and • Technology to support and enable working flexibly Choice • Evaluation based on output not input (i.e. on the work product itself, not where, when or how the work gets done) Opportunities for • Opportunities to take on significant responsibility and make major contributions Continuous early on in their careers Learning • New challenges; not repetition of “menial tasks” • Networked, less hierarchical organizations Open Social • Friendly, positive co-workers Networks • A sense of teamwork and camaraderie • Sense of harmony • Opportunities to be coached and mentored by leaders they respect Long-term Career • A long-term relationship with an employer Development 7 7
    8. Checklist kids • Want to be right and want the road map to get to “right” • Very diligent once they receive clear directions • Accustomed to explicit directions – Taught rigidly with detailed test guides and formulaic writing exercises so they would score well on standardized tests. • Accordingly they are challenged by ambiguity and how to figure out on their own how things fit together 8
    9. Life fulfillment factors •Quality of family life •Financial security •Physical/mental/spiritual health •Satisfying work 9
    10. Job satisfaction factors •Salary/ benefits •Job security •Work-life balance/ flexible work options •Meaningful work/advancement opportunities 10
    11. Retention factors •Autonomy and control over work and life •Compensation and benefits •Internal entrepreneurial opportunity •Positive work environment 11
    12. 3R’s/3C’s-more commonalities • Respected • Recognized • Remembered • Coached • Consulted • Connected 12
    13. Learning styles model • Why? benefits/purpose • What? outline/provide documentation • How does it work? Hands-on/big picture • What if? possibilities 13
    14. Q: What’s really going on in the Workplace? A: The corporate ladder is morphing into a corporate latticeTM model Corporate Ladder Corporate Lattice • Traditional hierarchy • More conducive to • Singular path upward evolving matrix Upward structure • Move up or stop momentum • Multiple paths moving • Work-versus-life Integrated with upward balance talent • Move faster, slower, management change directions • Fits more traditional systems • Career-life fit family structure • Assumes workers’ • Adjusts as workers’ needs remain needs change over consistent over time time 14 1 Decoding Generational Differences
    15. Applying the corporate lattice • MCC provides customization which all generations want: – Recognizes that careers ebb and flow over time – Acknowledges that there are many acceptable motivations for a career – Emphasizes transparency in communications about tradeoffs and choices – The four career dimensions help inform career discussions – The resulting corporate lattice allows for more fluid/adaptive career movements 15
    16. It’s all about knowledge transfer • Key to a sustainable business = effective transfer of knowledge • Differences in learning styles = frequent reason for miscommunication *Recommended reading: Steve Trautman, Teach What You Know-A practical leader’s guide to knowledge transfer using peer mentoring, Prentice Hall 16
    17. Learning styles model • Why? benefits/purpose • What? outline/provide documentation • How does it work? Hands-on/big picture • What if? possibilities 17
    18. Mix & match • Read • Show • Do • Talk 18
    19. 5-minute meeting plan • Define the purpose of the meeting • Explain the relationship to the job • Outline the main points of the assignment • Note the jargon • Identify practice opportunities • Provide additional resources 19
    20. Who has time to adapt to everyone’s learning styles? • Any of us who get work done through others…because: “there may not seem to be time to pause and answer questions or re-phrase a set of instructions the first time through an assignment, but…there always seems to be time to do it over correctly the second time through the assignment when there’s been a miscommunication…ensuring comprehension the first time saves time ultimately.” 20
    21. It’s not my job to teach you how to learn…to analyze… • In the ideal world perhaps…but teaching how to learn by acknowledging differing learning styles and using available tools to transfer knowledge is one of the most useful acts a senior person can engage in…once someone learns how to learn, they’ll become willing, committed life-long learners 21
    22. My challenge to you • Acquire the four A’s, the key characteristics of a leader worth following: – Awareness that none of us has all the answers • That we may not know what we don’t know – Active listening – A mind fearlessly kept open – A lifetime learner from others • Approach each other as colleagues who can help each other regardless of experience level 22
    23. 23
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