Understanding Generational Types

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Understanding Generational Types

  1. 1. Understanding the generational types in recruitment, retention and training
  2. 2. Growth creates opportunities but also challenges
  3. 3. According to the World Tourism Organization one new hospitality post is created every minute - qualified supervisory and management personnel with a willingness to gain international experience will literally be global stars Opportunities stars. are predicted to grow exponentially as the rapid increase in hospitality activities create new developments and new challenges. Source : 4hoteliers.com
  4. 4. In Asia’s gateway cities, with new hotels springing up on almost every corner, the challenge is to recruit and retain the caliber of staff that will provide the graceful attention to detail and service experience that is described so eloquently in the promotional material. Source : www.hotelasiapacific.com
  5. 5. Understand Generational types Why is it important in recruitment and retention?
  6. 6. The demographics are working against us… Demographics predict a coming worker shortage as the bay - boom retires For the first time ever, the next generation of skilled workers will - neither be larger nor better educated than the previous one The skilled worker gap in the US is estimated to be 5.3 million by - 2010 and 14 million by 2020 In Japan, millions of people are scheduled to retire now - China will need 70,000 experienced corporate leaders within the - next five years due to the growing businesses (al ready experiencing a 30% shortage) In India, 500,000 new graduates are needed by next year -
  7. 7. The Bottom Line While many baby boomers are retiring, nearly 72% said they plan to work after they formally retire We need to be concerned with the knowledge transfer from those baby boomers who are leaving The Bottom Line: We need to learn how to lead, recognize and engage our workforce now in order to retain the appropriate talent to be a successful organization Most companies start to redirect their recruiting efforts to include non-traditional groups ! We need to ensure that we have the appropriate knowledge transfer from talent that is retiring We need to facilitate the co-existence of a multi-generational work force.
  8. 8. Who are the generations? Generation Xers Baby Boomers Traditionalists Millenials/ Millenials/ Generation We Generation Y
  9. 9. The definition of engagement A productive relationship between an organization and its employees 2-way, productive and considered a “win-win”. Employee: Organization is considered as transparent, responsive and a partner Company: Individual uses discretionary effort, has an emotional connection and has accountability The relationship must align with employee’s attitudes, values and behaviors from a generational perspective Fact: International Studies show that engagement is at low levels and that improving economy will lead to increased hiring and competition for talent.
  10. 10. Why is engagement important? Companies with higher engagement have increased productivity These companies tend to outperform those with lower employee engagement: Higher average revenue growth • Lower costs of operating • Facts: a study of 50,000 employees indicates that those with a higher commitment perform 20% better and are 87% less likely to leave the organization
  11. 11. TRADITIONALISTS Generation: Born before 1946 Influences: The Great depression, WW2, Korea, Hitler, Chinese revolution, Gandhi’s assassination, Rise of labor unions Traits: Loyal, desire to leave a legacy, fiscally conservative, faith in institutions 40% of this group said their company did not do a good job of making them • want to stay 65% said they would not feel comfortable talking to their manager about a • different career within their company 72% plan to return to work in some form after their formally retire • They gave their lives to their jobs, they made sacrifices. • They believe “no news is good news” => feedback needed only once a year • They are fiscally responsible • They respect authority and follow the rules • Their reward is a job well done •
  12. 12. BABY BOOMERS Generation: Born between 1946 and 1964 Influences: Vietnam, anti-war protests, space travel, JFK assassination, Korean war, European Union established, Tunisia, Morocco, Sudan and 16 African countries became independent, space travel Traits: Competitive, desiring to put their own stamp on institutions, optimistic, free thinkers 43% of this group state there is a lack of mentoring available • 30% said not having a mentor contributes to their job dissatisfaction • 75% said time off would be the best reward they could receive • This is the generation with a voice. They were raised to be better educated, and • were told that they could do anything – the world is their oyster They are the most competitive generation, they are idealist and free-thinkers • This group lives to work vs. works to live •
  13. 13. GENERATION Xers Generation: Born between 1965 and 1981 Influences: AIDS, Cultural revolution in China, Flood in Pakistan (500,000 lives claimed), Earthquakes in Italy, Bali, Turkey and China claimed lives of 780,000, Energy crisis in West Traits: Resourceful, highly adaptive, self-reliant, sceptical of institutions, independent Only 17% of this group thought a lifetime career with one company was a • good idea (compared to 35% of the boomers and 70% of the traditionalists) 30% of the Gen X have left a job due to lack of training opportunities • 80% of Gen X men said time with family is more important than challenging • work or higher salary This is the group that wants to know how they are doing • They got used of being independent • They are constantly looking at what they can put on their resumes •
  14. 14. Gen X – How do you keep them engaged? Provide ongoing opportunities to gain new, marketable skills. • Establish a “win-win” contract; focus on work-life balance • Reward results. • 90% of this group wants immediate feedback, don’t wait for • your next 1:1 meeting! Provide learning and development opportunities that extend • beyond current role They want to know where they are going – what’s next? • They enjoy straight talk – get to the heart of the discussion • Individuality is important to them, they are considered • competitive Loyalty is to their leader •
  15. 15. GENERATION Y/MILLENIALS Generation: Born between 1982 and 2000 Influences: Technology, Terrorism, Fall of the Berlin Wall, Violence, Nelson Mandela Sworn in, Islamic Militants, Global warming, drugs Traits: Globally concerned and aware, integrated, cyber-literate, realistic, collaborative, group oriented, vocal This group ranked “personal safety” as their number one workplace issue • Their opinions have been sought out and listened to throughout their lifetime • They have seen a world with technology constantly changing, so they enjoy • and expect change They move in peer groups and have loyalty to these groups; they are team- • orientated by nature Their parents have sought their opinions and included them in decision – they • are used to that
  16. 16. Gen Y – How do you keep them engaged? Reinforce their contribution to the team/department/organization • Solicit their opinion • Leverage their creativity and innovation • Provide “rapid” career growth/succession • Loyalty is to each other • Everything has been fast and furious in their lives, they expect • constant feedback • Their need for rapid career growth can be managed – don’t train them on everything right away • This is the group who may ask, after three weeks of employment, what their next move will be, how are they progressing, how can they move up? • This is the group who may ask for others to be in the room during their 1:1 meeting with you
  17. 17. GENERATION Y/MILLENIALS Generation: Born after 2000 Influences: Technology, Iraq, Effects of 9/11, built-in safety, “just-in-time”, information & technology, YouTube, Global Village Traits: Tech-native, Media-smart, Artistically inclined, Spiritual, Pan- cultural, culturally identified, integrated $18 billion buying power • Marketing is changing to meet their needs and desires • “edutainment” toys focusing on both right and left brain-thinking • They are used to “on-demand” all the time • They are surrounded by safety measures and are aware of it – it is part of their • lives
  18. 18. All right, now how do we , HR Managers, use that knowledge?
  19. 19. 1. Organizations that are able to maximize the performance of every generation of employees will have a competitive advantage in winning the war for talent 2. Retaining current employees is critical to our future success 3. Find new “groups” of new-hires, search for new staffing sources 4. Leaders should be aware of the differences and adjust to the different needs of the workforce, focusing on individuals 5. Knowledge must be transferred from talent prior to them retiring in order to keep competitive advantage 6. Continue to stay informed about Gen We’s !
  20. 20. Our vision “To provide exceptional recruitment and training services in a climate where quality of employees is a vital consideration”

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