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Modern Families, Modern Employers: New Research on Making Work Work

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What’s impacting the performances of today’s working parents? Learn the results of Bright Horizons’ Modern Family Index and how your organization can support working families in order to sustain a competitive advantage. Presented by Maryella Gockel, Americas Flexibility Leader, Ernst & Young; Tammy Erickson, award-winning author; and Dave Lissy, CEO, Bright Horizons.

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Modern Families, Modern Employers: New Research on Making Work Work

  1. 1. AGENDA  Results of the Modern Family Index  Tammy Erickson  Maryella Gockel, Americas Flexibility Leader, Ernst & Young  Q&A © 2014 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
  2. 2. SOLUTIONS AT WORK LIVE & WEBINAR EVENTS Join us in Pasadena Solutions at Work LIVE Annual Conference April 2015 3 days of learning and networking Don’t miss the next Solutions at Work webinar November will examine trends in workforce learning & development strategies, the skills gaps employers are facing, and the role of tuition assistance programs. Join us in Chicago Solutions at Work LIVE Midwest Forum October 2014 brighthorizons.com/midwestforum SIGN UP to hear about upcoming Solutions at Work webinars & live events brighthorizons.com/newsletter © 2014 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
  3. 3. © 2014 BRIGHT HORIZONS FAMILY SOLUTIONS LLC SOLUTIONS AT WORK LIVE EVENTS SLIDE
  4. 4. © 2014 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
  5. 5. © 2014 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
  6. 6. © 2014 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
  7. 7. © 2014 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
  8. 8. © 2014 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
  9. 9. TAMMY ERICKSON Tamara J. Erickson is a McKinsey Award-winning author, a leading expert on generations in the workplace, and a widely-respected expert on collaboration and innovation, the changing workforce, and the nature of work in intelligent organizations. She has three-times been named one of the 50 most influential living management thinkers in the world by Thinkers50, the global ranking of business thinkers created by Des Dearlove and Stuart Crainer. Tammy is the Founder and CEO of Tammy Erickson Associates, a firm dedicated to helping clients build intelligent organizations and an Executive Fellow, Organisational Behaviour, at London Business School. © 2014 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
  10. 10. THE CURRENT LANDSCAPE Today’s families’ challenges are not those of the previous generation’s. Why? Bright Horizons’ Modern Family Index findings are playing out in real life in workplaces nationwide.
  11. 11. X’ERS: LESS LIKELY TO BE MARRIED THAN BOOMERS 0 10 20 30 40 50 60 70 80 90 Married, spouse present Unmarried, total Women in 1975 Women in 2000 Men in 1975 Men in 2000 Percent Source: “The Labor Force Experience of Women from ‘Generation X’,” Marisa DiNatale and Stephanie Boraas, Monthly Labor Review, Bureau of Labor Statistics, 2002 Marital Status of Women and Men Aged 25 to 34 12 | © 2014 Tammy Erickson Associates. All Rights Reserved.
  12. 12. MARRIED X’ERS: MORE LIKELY TO BE WORKING OUTSIDE THE HOME 0 20 40 60 80 100 120 Married, spouse present Unmarried, total Women in 1975 Women in 2000 Men in 1975 Men in 2000 Percent Source: “The Labor Force Experience of Women from ‘Generation X’,” Marisa DiNatale and Stephanie Boraas, Monthly Labor Review, Bureau of Labor Statistics, 2002 Labor Force Participation of Women and Men Aged 25 to 34 by Marital Status
  13. 13. X’ER MOMS: MORE LIKELY TO BE WORKING OUTSIDE THE HOME THAN BOOMERS 0 10 20 30 40 50 60 70 80 90 100 With children under 18 With no children . . . Children 6- 17 Children under 6 Children under 3 Women in 1975 Women in 2000 Source: “The Labor Force Experience of Women from ‘Generation X’,” Marisa DiNatale and Stephanie Boraas, Monthly Labor Review, Bureau of Labor Statistics, 2002 Labor Force Participation for Women Aged 25 to 34 by the Presence of Children
  14. 14. THE GENERATIONAL CONTEXT 15 | © 2014 Tammy Erickson Associates. All Rights Reserved.
  15. 15. VIEWS ON PARENTING  Boomers: “I want to help my child be successful – to prepare them to win.”  X’ers: “I want to be a ‘good parent.’”  Y’s: “I want to make the most of every day.” 16 | © 2014 Tammy Erickson Associates. All Rights Reserved.
  16. 16. DIFFERENT VIEWS – DIFFERENT BEHAVIORS  Boomers: Hard work, long hours and sacrifice are a win-win – good for my career and good for my kids  X’ers: I need to evaluate every new position against the commitment I made to myself before I had children – to make sure I can handle both 17 | © 2014 Tammy Erickson Associates. All Rights Reserved.
  17. 17. COGNITIVE MAPS BASED ON OUR INTERPRETATION OF EVENTS  Sensorimotor stage (birth-2 years old) – Concepts about how physical objects work based on direct physical interaction with the environment  Preoperational stage (ages 2-7) – Intuitive intelligence related to concrete physical situations  Concrete operations (ages 7-11) – Logical structures related to concrete objects or physical experiences (numbers, for example)  Formal operations (ages 11-15) – Conceptual reasoning and abstractions – Mental models that will persist throughout adulthood Piaget’s Four Developmental Stages 18 | © 2014 Tammy Erickson Associates. All Rights Reserved.
  18. 18. • Anti-authoritarian and idealistic • Protests: Vietnam, Civil Rights, women’s liberation • Assassinations of Kennedy, King, and other idealistic leaders • Competitive • Lots of other Boomer teenagers! • Somewhat unappreciative of the role of parents • As teens, in 1974, more than 40% said they'd be better off with NO parents! BOOMERS: BORN 1946 TO 1960 19 | © 2014 Tammy Erickson Associates. All Rights Reserved.
  19. 19. • Self-reliant • Latch-key kids – taking care of themselves • Mistrustful of institutions • Corporate layoffs • Rising divorce rates • As teens, more confident they’d see an UFO than a Social Security check • Thoughtful about the decision to become parents • Determined to ‘be there’ for their children – to be different than their own parents were GENERATION X: BORN 1961 - 1979 20 | © 2014 Tammy Erickson Associates. All Rights Reserved.
  20. 20. • Immediate and eager to live each day • Terrorism: 9/11, World Trade Center, Oklahoma City • School violence: Columbine • Nothing to prove – taking the right to work for granted • Working mothers, female CEOs and heads of State • Digital natives • Family-centric • Parents are “role models” and “heroes” • As teens, 90% of Gen Y’s reported being very close to their parents GENERATION Y: BORN 1980 - 1995 21 | © 2014 Tammy Erickson Associates. All Rights Reserved.
  21. 21. UNDERLYING DRIVERS The views expressed in the Modern Family Index: • Reflect logical, legitimate differences in views on the family and on parenting How can employers help to address these underlying drivers within their own corporate cultures?
  22. 22. POLL In the coming year, does your organization plan to explore or engage in any of the following:  Child or elder care supports  Building a more supportive culture  Caregiver support programs  Financial well-being programs © 2014 BRIGHT HORIZONS FAMILY SOLUTIONS LLC
  23. 23. Maryella Gockel EY Americas Flexibility Leader ► Americas Talent Team ► Inclusiveness Center of Excellence Maryella is focused on embedding a sustainable, inclusive and flexible culture throughout the organization to support all EY professionals, wherever they come from and whatever their characteristics. ► Two children – James, 26, and Alexandra, 23.
  24. 24. EY member firms today Revenues* US$25.8b (June 2013) People 190,000 Locations 150+ countries, 700+ offices Service lines Assurance, Advisory, TAS, Tax and CBS * Represents last available financial information
  25. 25. Why we embrace flexible working at EY ► Greater collaboration ► Effective virtual teaming ► Faster response time ► Reduced travel costs ► Increased mobility ► Enhanced engagement ► Expected by all generations ► Enabled by technology ► More energized workforce ► Enhanced health and wellbeing ► Reduced space needs ► Global accessibility/connectivity ► More sustainable environment ► Increased support for communities ► Increased retention Vision 2020 – We are committed to attracting great people and developing future leaders by building and delivering the “workplace of the future” through effective technology, innovative space design and a more flexible, output-focused culture that empowers our people to deliver exceptional client service.
  26. 26. All generations and genders need flexibility ► Gen X said they would be more likely to walk away from their current job in the absence of day-to-day flexibility (38% vs. 33% of Gen Y and 25% of boomers). ► Gen X men (40%) were most likely to leave their current job if flexibility was not offered, followed by Gen X women (37%), Gen Y men (36%) and Gen Y women (30%). Source: Younger managers rise in the ranks, EY study on generational shifts in the US workplace 2013.
  27. 27. Flexibility is a top driver of retention at EY Retention is 6.1 percentage points higher in groups that are in the top quartile on our flexibility measure at EY compared to those in the bottom quartile. Feeling you can trust your team to deliver on commitments Feeling trusted by your manager to make the right decisions Other top drivers?
  28. 28. Engagement matters ► Through our own Business Linkage research, we know that at EY, engagement leads to better business results.
  29. 29. Supporting our working parents Our great vendors support: ► Back-up care ► Accessible over the phone or online ► Childcare ► Self-directed, web-based search engine ► Child, adult, pet care, and house cleaning ► Lactation support Firm support: ► Great expectations guide ► Today’s Families Networks ► $400 per year – for childcare during busy season or when working additional hours ► Career and Family Transitions coaching program
  30. 30. Taking vacations improves retention and performance ► Vacation is a positive predictor of performance in the US and Canada, with more vacation hours taken in a prior year being reflective of higher performance the following year. ► Across nearly all countries in the Americas, vacation hours taken had a positive correlation with length of service. Source: Career Value Study, EY study on the value of a career at the firm and what client-serving professionals want from their time with EY, 2013.
  31. 31. EY Global CEO speaks at the White House Summit for Working Families, June 2014
  32. 32. The New Dad: Take Your Leave 2014 survey
  33. 33. EY Americas Flexibility Leader testifies on paid parental leave, July 2014
  34. 34. EY mom discusses paid maternity leave 27 September 2013
  35. 35. Flexibility slipsheets
  36. 36. 16 Years on the FORTUNE 100 Best Companies to Work For® list and …
  37. 37. EY | Assurance | Tax | Transactions | Advisory About EY EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com. Ernst & Young LLP is a client-serving member firm of Ernst & Young Global Limited operating in the US. © 2014 Ernst & Young LLP. All Rights Reserved. 1409-1317484 ED None This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. Please refer to your advisors for specific advice. ey.com
  38. 38. clientservices@brighthorizons.com | 800-453-9383 Follow us @BHatWork Sign up at www.brighthorizons.com/newsletter to receive the latest from the Solutions at Work blog, plus invitations to webinars and Solutions at Work LIVE events.

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