Generation Social Media And Risk Or Bliss Management R
Generations, Change, and Social Media. Ignorance Bliss or Risk? The Institute of Internal Auditors Conference 431 West Seventh Street Los Angeles, CA 90014 Presented March14th, 2012 by VaNessa Vollmer, Psy.D.
What can you do? Support business health – Get a Check up1. Understand Business Trends and Financial-Social Cycles and How they Impact Organizational Health.2. Understand Generational Values3. Encourage Employee Engagement to Build a Connected Corporate Culture4. Leverage Strengths in Teams5. Identify Skill Gaps and Develop Talent.
Adapting Next Generation Talent and Technology to WorkplacesTraditional offices aredisappearing and space is Airportsbeing repurposed or vacant.Businesses are adapting toincreased gas prices. CustomerTelework will be practiced by Mobility Home Locationmore than 60 million people.Employees continue to signwritten agreements thatspecify how “virtual” their Hotelrole will be at work and alignexpectations for work - lifebalance.
Global Changes… Risks at Stake?Next Generation workplaces and professions need to address changing behaviors and demographics.Global Collaboration and Knowledge Sharing: Innovation networks that seamlessly weave together internal and external knowledge teams. Ex. IM PosseCustomer Experience Management Facilitate increased consistency across various business interactions. Ex. Short and Long Term Business HealthAging Workforce Capturing knowledge and insights in the context it was created BEFORE it leaves the organization.
Solutions to Focus on Remote Workforce Enablement: • Any where- Any time access to information and applications. New Generations entering workforce: • Must provide tools that amplify and enhance the power of imagination, creativity and self expression through experiential learning and communications
Millennials are a Global Phenomenon 51M “Smarter than ever but still not questioning “first generation authority.” Dawn Wheeler, without memories of Unilever, Asia communism.” Irina 76M Ivan, peoplefirst.ro 550M 517M 200M The Singapore Gen Y is “50% of females intrinsically will opt out of motivated by 75M immediate the workforce gratification of by age 30.” the task. Robert Singapore H.R. Grossman, Institute HR Magazine~1.5 B Millennials globally share common traits, however exhibit local idiosyncrasies.
US Generations Born – Roughly a 20 Year Length (archetype) Social Cycle1883-1900 Lost Generation (Nomad)1901- 1924 Waning GI’s (Hero)1925 – 1942 Silent Gen 75 Mil (Artist)*1943-60 (‘63) Baby Boomers 85 Mil (Prophet) • Childhood birth-201961(‘64) – 1981 Gen X 46 Mil (Nomad) • Young1982 – 2003 Gen Y- Millennials 76 Mil (Hero) Adulthood2004 and after (Artist)* 21-41*Tend to be risk averse/pro-conformity • Midlife Years 42-65Research: Casey N. Howe & W. Strauss • Senior Years 65-86+
Silent Generation 1925 – 1942 and 2004 – (Artist Cycle)*• Children of the Crisis (ex. Post WWII, Post Financial meltdown of 2008) urgency/hx change.• As Young Adults at post-crisis era. Conformity seems best for success & *risk averse.• Midlife: views self as expertise & refinement to improve institutions/innovations. Culture awakening, life speeds forward as culture transforms.• Seniors currently moving into gated communities (flexible elders, focused on the needs of others, elder advisors.)
1943-60(‘63) Baby Boomers (Prophet Cycle)• Childhood: Post crisis affluence (Post American High)• As Young Adults they go through a period of upheaval (Consciousness Revolution of the 60’s-70’s)• Midlife: become moralistic and values-obsessed leaders and parents.• During their Senior Years they experience the next great outer- world social or political crisis.
1961(‘64)-1981 Gen X (Nomad cycle) • Children of an awakening and great cultural upheaval. They are usually under-protected. Learn early not to trust basic institutions to look out for their best interests. • As Young Adults they become free agents who focus on individualism. • Midlife: Great Realists & Pragmatists in our national history. Tend to forge their identity and value system by “going it alone” and usually don’t have a strong connection to public life. • Seniors it will be interesting to watch this generation, especially in leadership roles they are entering now.
1982 – 2003 Millennials (Hero)• Protectively Raised as Kids• As Young Adults help solve a societal crisis.• Midlife – institutionally powerful• Greeted in Senior Years by Uprising of a young Prophet generation. – Examples include heroes of the American Revolution like Thomas Jefferson, James Madison, and James Monroe
Key Millennial Experiences Strive for Work – Life Balance • Uncertainty Self Reliant, examples 9/11, Risk Adverse Iraq War, Katrina Environmentally minded • Economic Change Entrepreneurial ex. Globalization, Success Driven Enron Transparency is Important • Technology Instant Gratification PC’s always existed Tech Savvy Flexibility is Key Source Deloitte: Who are the Millennials? Greenberg Study
Millennial Characteristics Driven Tech Savvy Relationship Social Oriented Responsibility
Defining Characteristics EmergedMillennials are willing and eager to take on responsibility. Driven • 65% choose employer based opportunities for professional development and growth. • 57% plan to fund their own retirement. Source Deloitte Gen Y Study, Deloitte Ireland Survey, PMC
Defining Characteristics EmergedMillennials are multi-taskers for the video game generation Tech Savvy • Over 75% grew up with a computer at home. • Spend 6.5 hours per day on media consuming information. • Facebook population rivals Brazil. Source: Northwestern Media Management Center
Defining Characteristics EmergedMillennials are proving themselves socially responsible Social Responsibility • 78% are willing to make sacrifices in their own lives to address the current social issues we are facing today. • 71% of college Freshman report volunteer behavior. • Reported drug use and teen pregnancies down.
Defining Characteristics EmergedFamilies are most important, however virtual relationships grow. Relationship Oriented • 73% Say Family is the most important thing in life. • Friendship is a stronger motivator when choosing a company. • Strong ability to network and develop new relationships.
A sense of what matters most… In contrast to popular images of twenty- and thirty- something’s returning to tradition, most young people want to balance work and caretaking in the context of an equal relationship. Young adults from all economic and ethnic backgrounds generally share these egalitarian aspirations. (Data from Kathleen Gersons Research)
Defining and Identifying Talent-Global Competencies Competency Models andInitiative , Innovation Alignment with CorporateInterpersonal Effectiveness Performance Objectives.Leadership, Learning, • Can include 360-degreeMarket Focus, Teamwork feedback for clear-Leadership Behaviors expectationsModel the Values • Links development toCreate external focus goals.Anticipate Change • Motivate employees toImplement Quality improve by offering-Leadership Competencies specific guidelines.VisionaryEffective Communication • Set expectations forDecisiveness and follow-through development targets.
Millennials Need and Value More MentorshipThey were raised with Coaching and Recognition. Merit Clear Career Promotion Path Based on Results based Frequent Increased Coaching Feedback on Performance Training on Soft Skills Written Mentors based Mentors Contracts to Ensure on Skills (like critical thinking) Commitment Not Ranks
Why is This Important Now?Social & Business Trends• Length of Lifetime Increased – 1900 47 years – 2000 76.5 years• Serious Skills Mismatch (Training)• Serious Educational Problems in U.S. and Global Growth• Fewer, Older, Less Qualified, Desire for less Responsibility• Not a time of Quick Reactions Until Clear Urgent Signals
Best Practices in Succession Management• Best systems are “development oriented” rather than replacement oriented.• Highly effective systems involve high level executives for a strategic tool to attract & retain.• ID gaps in talent.• ID talent early• Constant reinvention, refine, and adjust system with feedback.• Anticipate and Manage Risk
Succession Success!• Succession is an organization wide resource.• Reliable system to find, develop and retain top talent. Get the “Best Fit.”• Support from the top.• Integration of leadership development processes with successful outcomes.• Use performance data, involve closest co-workers, build from the bottom up, invest time, and consensus decisions. This document is privileged and confidential information.
Social Media Options What about the value of social media to an organization? Is there really a difference between companies that address social media and those who do not? Do they really fare better as a company? Are they more successful?
Companies Must Engage Employees on More DimensionsBoomers Live to Work Career 4C’s
Companies Must Engage Employees on More DimensionsGen X Work to Live Employee Career expectations evolve through generations. 4C’s Culture
Companies Must Engage Employees on More Dimensions CareerMillennials Work Hard and Play HardYes! EmployeesEvolve and look Connectivity 4C’s Culturefor similar values. Community
Unleash Millennial Potential and Business Engagement Career Driven Tech Savvy Connectivity 4C’s CultureRelationship Social Oriented Responsibility Community
Higher Engagement with Higher Stock PricesUnderstand EngagementStrategy and Economic Impact SurveySome companies exploit thistime and focus on Attrition Actions AnalyzeSuccessful Engagement“Does every employee havewhat they need?”Motivation? Values?Do the values of the Analyze Actionsorganization resonate with me? This document is privileged and confidential information.
Actions your Company can take• Implement a “reverse” mentor program.• Establish a company-wide Idea Management Tool. (IT infrastructure, apps, and more.)• Ignite innovation through highly visible contests. Recognition: Purpose, Planet, Profit.• Partner with IT to develop Audit Systems for Tech Savvy Tools.• Partner with Human Resources to develop Better Practices, Policies and Procedures.
Questions? Ask Learn ApplyImprove Share This document is privileged and confidential information.
Thanks for your attentionContact InformationVaNessa Vollmer, Psy.D.(949) 295-5898Email: DrVollmer@dslextreme.comwww.SuccessRealized.comTwitter: @V_VollmerFacebook: Dr. VaNessa Vollmerhttp://www.linkedin.com/in/vanessavollmer