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Millennials+gen x at work
The document discusses how Millennials and Generation X are changing the workplace. Millennials, born between 1982-2007, grew up during major events like 9/11 and the financial crisis. They are optimistic, compassionate, and focused on education. Over 80 million strong, they make up 34% of the workforce currently but will be 46% by 2020. Generation X, born between 1965-1981, grew up during feminist movements and see marriage as disposable. Numbering around 59 million, they seek work-life balance and skill-building opportunities. Both generations value flexibility and transparency. To manage them effectively, employers should provide coaching, feedback, and mentorship while leveraging their strengths in technology and independence.
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Millennials+gen x at work
- 2. How Millennials and GenerationX are changing the way we do business Milena Regos Out&About Marketing
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- 4. Milennials Also known as: GenY Gen Next Echo Boomers Baby-on-Board Generation Screenagers Facebookers Gen Why Not Source: Maximizing Millennials in the Workspace
- 5. Events defining theMillennials formative years - 9-11, Hurricane Katrina, Obama, Financial Crisis
- 6. Millennials Characteristics ‣ Optimisticand enthusiastic ‣ Pessimistic about their country’s direction ‣ Respectful of authority ‣ Focused on their education ‣ Close with their parents ‣ Compassionate ‣ We Generation Source: Chuck Underwood.The Generational Imperative
- 7. 80 mil Source: MaximizingMillennials in the Workspace. Photo credit: http://b-i.forbesimg.com/danschawbel/files/2013/09/ millennials.jpg
- 8. 34% 66% Millennials Older Millennials inthe workforce in 2014 Source: Lynch 2008
- 9. 46%54% Millennials Older Millennials inthe workforce in 2020 Source: Lynch 2008
- 10. Source: http://www.insites-consulting.com/infographic-millennials-social-media/ More than8 out of 10 are members of at least 1 social network. On average, they join 2.5 social networks.
- 11. “Social media permeatethe personal, academic, political and professional lives of millennials, helping to foster the type of environment where innovation flourishes. So when compared with older generations, millennials learn quickly — and that’s the most important driver of innovation.” Source: Embracing the Millennials Mind Set at Work, NYtimes.com
- 12. “Millennials work moreclosely together, leverage right- and left-brain skills, ask the right questions, learn faster and take risks previous generations resisted. They truly want to change the world and will use technology to do so.” Source: Mike Marasco
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- 14. 66% of Millennialsbelieve that older generations don’t understand them. No generation will grow up more misunderstood by older generation than Gen X. Source: Bridging the preparedness gap
- 15. ‣ Show themthe end result ‣ Give them a due date ‣ Let them figure out the in between ‣ Flexibility in work schedule How to deal with Millennials at work? Source: Embracing the Millennials Mind Set at Work, NYtimes.com
- 16. “If corporate culturesdon’t align with the transparency, free flow of information, and inclusiveness that millennials highly value — and that are also essential for learning and successful innovation — the competitiveness of many established businesses will suffer.” Source: Embracing the Millennials Mind Set at Work, NYtimes.com
- 17. Recruiting Millennials ‣ Takea look at the US Army - 79% Millennials ‣ Involve parent’s approval ‣ Do good in the world ‣ Fun work space ‣ Technologically advanced ‣ Flexible schedules
- 18. Managing Millennials ‣ Coachthem don’t manage them ‣ Treat them like they are special. They are. ‣ Need for structure - US ARMY!! ‣ Immediate feedback ‣ 360 formal mentorships & reverse mentoring ‣ Benefits: Relocation assistance; Tax assistance; Advise and counseling
- 19. Empowered Engaged Want to makea difference Sassy enough to think they can
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- 21. The Gen X Born:1965 to 1981 Source: Chuck Underwood.The Generational Imperative
- 22. ‣ Birth controlpill is gaining widespread use ‣ Abortion is legalized in 1973 ‣ Feminist movement is opening career doors to women ‣ The rich will get richer Gen X Formative years
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- 24. Gen X Characteristics ‣Independence ‣ Self-reliance ‣ Distance from Older Generations ‣ Marriage is disposable ‣ Us Against Them ‣ Me Generation Source: Chuck Underwood.The Generational Imperative
- 25. The first generationto grow up with a computer (no Internet)
- 26. Gen X Values ‣No ideology ‣ Pragmatic ‣ Make marriage work ‣ Be there for children ‣ Work hard, make money ‣ Not “joiners”
- 27. Leadership ‣ Gen Xare sharing leadership positions with Boomers ‣ By 2020, we’ll become a Gen X nation for the next 10 to 15 years
- 28. Xers in theWorkplace ‣ They will replace the Boomers at the top ‣ They are creative, entrepreneurial ‣ Self-reliant and independent ‣ Technologically savyy ‣ Willing to work hard ‣ Seek work/play balance ‣ Comfortable with change ‣ Prefer start-ups, small firms ‣ Work to live, not live to work ‣ Seek skill-building opportunities ‣ Seek respect and input
- 29. Recruiting Xers ‣ Identifypeaks and valleys in the hours required upfront ‣ Explain time demand up front ‣ Can you explain career path? ‣ Enhance their skill set ‣ Be technologically forward ‣ Reward individualism, creativity
- 30. Managing Xers ‣ Careersuccess = Work-life balance ‣ Offer mentoring ‣ Don’t micromanage ‣ Establish retention program ‣ Train them constantly. ‣ Maintain contact after they leave. ‣ Quantify performance ‣ Give them plenty of resources ‣ Permit them input and feedback
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- 32. Gen X Millennials AcceptDiversity Pragmatic / practical Self-reliant / individualistic Reject rules Killer life Mistrust institutions PC Multitask Latch-key kids Friends-not family Celebrate diversity Optimistic / realistic Self-inventive / individualistic Rewrite the rules Killer lifestyle Irrelevance of institutions Internet Multitask fast Nurtured Friends=Family Source: http://apps.americanbar.org/lpm/lpt/articles/mgt08044.html
- 33. Generation Work StyleCareer Goals Values Millennials Energy, ideas, productivity, What’s next? Money, work-life balance, Change, Impact Now Flexibility, Control, Productivity Independence, Fun Gen X Independent, resilient, critical thinking, Get the job done Career first, aiming toward Work-Life balance, Money Flexibility, Freedom, Responsiveness, Fairness, Fun Source: http://www.good.co/blog/2013/05/01/gen-x-vs-gen-y-in-the-workplace-making-generational-differences-work/
- 34. Commonalities ‣ Social responsibility ‣Desire for work-life balance ‣ Want to have fun ‣ Keep things moving ‣ Productivity versus process ‣ Forward thinking Source: http://www.good.co/blog/2013/05/01/gen-x-vs-gen-y-in-the-workplace-making-generational-differences-work/
- 35. Building on strengths ‣If you have a project that requires multi-tasking and technology and you have time to actively supervise and provide feedback – assign it to Millennials. They want engagement. Source: http://www.good.co/blog/2013/05/01/gen-x-vs-gen-y-in-the-workplace-making-generational-differences-work/
- 36. Building on strengths ‣If you have a project that needs to get done and you have little time for supervision – trust Gen X to take care of it. They want freedom. Source: http://www.good.co/blog/2013/05/01/gen-x-vs-gen-y-in-the-workplace-making-generational-differences-work/
- 37. Takeaways ‣ Understand GenerationalDifferences ‣ Identify strengths and shortcomings ‣ Play it to your advantage = Harness the specialness ‣ Embrace it. Don’t fight it.
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- 39. Milena Regos Out&About Marketing www.outandaboutmarketing.com milena@outandaboutmarketing.com Twitter:@milenaregos slideshare.net/milenaregos All images credit CreativeCommons unless otherwise indicated Research by: Kendall Kaminski, A Millennial