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Utility of a multi-generational workforce
- 3. What is a multigenerational workforce? “A group of employees with different shared experiences that have unique perspectives base on era in which they were raised” ~ RAJ
- 4. × Our complex energy market × Understanding each generation × Managing a multigenerational workforce × Preparing for the future × Benefits of generational diversity × Leadership tools × Power of generational Unity
- 6. × Consumer expectations × Technological innovations × Changes in Policy
- 7. × Anticipate × Innovate × Adapt
- 8. We need inclusive decision making that pulls a diverse group of people together to help in providing lasting solutions.
- 11. Understanding the differences and similarities between each generation
- 12. baby boomers 1948-1963 competitive, goal- oriented, ambitious, have a strong work ethic and often bring a wealth of experience
- 13. gen X 1964-1978 independent, pragmatic, resourceful, innovative, appreciates technology and results-focused
- 14. millennials 1979-1991 sophisticated, technology wise, self confident, feed on new knowledge, social- media crazed, appreciates immediacy and excellent multi- taskers
- 15. gen Z 1991 – 2014 Optimistic, multi-taskers, non-traditional, entrepreneurial, big on individuality, weaned on technology and very into social devices
- 16. What does each generation carry? × Coaching Power isgainedbysharingknowledge, nothoardingit × Traditions Adiverseworkforcecaterstodiversecustomers × Continuity Aworkforceheavilycomposedofpeopleinasetgeneration demographicrunstheriskofbecomingobsolete. × Mental Models Peoplelookatproblemsdifferently
- 17. Managing the current generational mix in the workforce
- 18. Gen Z 2% Gen X 28% Millennials 32% Baby Boomers 35% Veterans 3% DOMINANT GENERATIONS AT JPS
- 19. Boomers Millennials Gen X 35% 32% 28%
- 21. Preparing for the future Source: www.celpr.com
- 22. × Best Practices × Ground breaking solutions × New Innovations
- 23. Cisco did 5 key things: 1. Continually Communicating the Big Picture 2. Creating Structures that Increase Collaboration and Engagement 3. Strong Emphasis on Career and Leadership Development 4. Maximize Work-Life Integration with Wellness and Flexible Work Options 5. Leveraging the Benefits of Social Networking Tools
- 24. 1. Honour each generation 2. Encourage knowledge sharing 3. Flexible leadership styles 4. Obtain broad-based inputs 5. Leverage unique talents 6. Support real communication
- 25. it’s biblical “One generation shall praise thy works to another, and shall declare thy mighty acts. ” Psalm 145:4
- 26. × Attract the best talent × Use age-diverse working groups × Encourage ideation and innovation × Study your workforce
- 27. × Increased productivity × Enhanced creativity × Increased loyalty × Extended company life
- 28. Multigenerational teams + knowledge transfer = competitive advantage ………………………………………… Multigenerational teams + knowledge sharing = competitive advantage Knowledge retention across generations …………………………………………………………………… Differences create solutions Why a multigenerational Workforce?
- 30. ENCOURAGE acceptance collaboration mentorship interaction Embrace differences Study your staff Things I Have Learned
- 31. Gloria Steinem “We need to remember across generations that there is as much to learn as there is to teach”
- 32. THANKS!
Editor's Notes
- I am a HR Business Partner at JPS and an avid research. I enjoy discovering trends in people data and developing tools to improve business processes. As we in the energy sector look toward the future of energy we have to prepare for a change energy landscape and workforce.
- With 4 generations present in the 2018 workforce of the average utility this presents a unique opportunity to pull all generations together to support us in delivering to our customers reliable, clean and affordable energy.
- Generation: “A generation is a common generation location in history and a collective peer personality” (Neil Howe & William Strauss) Multigenerational: Relating to multiple generations
- Understanding how to pull on the power of generational unity, understanding the benefits to be derived from the differences in each generation, and how to manage a multigenerational workforce in complex energy market, Preparing for the future looking beyond 2018 to 2025 and what our workforce will look like at that time. I will be sharing you on the benefits on generational diversity and leadership tools to help you manage in 2018 and help you to prepare yourselves for the 2025 workforce.
- We are operating in a complex energy market, for those of us in the Caribbean we are not exempt for this reality. The world energy council describes it by presenting to us the energy trilemma where most countries find themselves now. Trying to balance energy security, energy equity and environmental sustainability so that they are able to provide clean, reliable and affordable energy to their customers.
- The utility industry is faced with a variety of challenges — aging workforce, increased interest in renewables, new entrants, demand for technology innovations and changes in the policy landscape. If we are to remain competitive in this industry engagement is important. We must ensure that decision-makers consider issues that are key to maintaining long-term competitiveness, long-term support for transformational policies .
- What all this means its that we have to be prepared. We have to Anticipate Is your business ready for generational changes? We must Innovate Are you experimenting with new ideas? We need to be ready to Adapt Are you slowly evolving or are you moving at the world’s pace?
- If we are going to staff our businesses for the energy trilemma we have to ensure that we our inclusive, diverse and responsive. We need inclusive decision making that pulls a diverse group of people together who will help to provide lasting solutions that respond to today’s challenges and addresses tomorrow’s concerns, cultivating lasting solutions.
- If we face a diverse set of challenges that transcends generations then we should ensure staff to match these expectations. It stands to reason that we should staff our business for the type of business that we are in.
- So the workforce of today is made up of 5 generations, we have the builders or veterans, the baby boomers, generation X, generation Y or the millennials and new to the working world is generation Z. For the first time in years these generations must work together in a sector that is changing. In timer gone by Baby Boomers would be reporting to veterans, however in 2018 many utilities have more Millennials leading teams with gen X and boomers. Most companies have 4 main generations working side by side as many of their builders or veterans are now enjoying retirement.
- If we are to benefit from the differences of these generations we must understand them distinctly and not comparatively. We are comparing apple and oranges
- Predominantly born between 1948 and 1963 these go getters are very competitive, goal oriented and extremely resourceful. They are very individualistic and optimistic. They possess a wealth of knowledge ready to share. Baby Boomers are up to about age 60 and are dedicated to their job and company. They are big on commitment
- Born between 1964 and 1978 Generation X is also quite independent, pragmatic and very resourceful employees who appreciate innovation and are results oriented. They were born in an era of transition where they saw countries like Jamaica gaining independence. This is something the value very much. Generation X is up to age 45 and this open-minded bunch loves diversity, are competitive global citizens
- My generation, the millennials, also know as generation Y is a sophisticated, tech savy group born between 1979 and 1991. They are believed to be taking over the workforce with their thirst for new knowledge and appreciation for immediacy and love results. Generation Y is about 34 and keen on labour mobility and highly aware and vocal about social issues
- The google generation – Generation Zers born between 1991 to 2014 are optimistic multitaskers who are often lumped together with millennials. They are however a distinct group of non-traditional thinkers who are entrepreneurial, big on social devices and were weaned on technology. This generation grew up in a time when it was easy to search for answers online. Milestone for them included the dot com phase and the advent of google in 1998. Generation Z is now about 23 and under. They are critical, selective and self-taught.
- A generationally diverse workforce caters to all types of customers. There is an opportunity for coaching as power is gained by sharing knowledge and hoarding it” By mixing the good working knowledge of business technology of younger generations with the traditional business skills of more mature generations in a multigenerational workforce where knowledge, experience and skills are valued , then employees of all ages have the opportunity to teach, share and learn from one another. A workforce heavily composed of people in a set generation demographic runs the risk of becoming obsolete. When mature workers train younger professionals in the ways of the company, passing down traditions and accumulated years of valuable experience then we have business continuity Mental models - How we view the world includes the tools we use to think. Each way we think of a problems offers a different framework that we can use to look at life or at an individual problem. The different ways we to look at a problem with our different perspectives help to unearth multiple solutions or risks. “People look at problems differently, because they have a fundamentally different view on what is a problem and what isn't” “every individual has a core system of beliefs based on their generation, they retreat to these beliefs when presented with a problem”
- With all this information how do use it to help us manage the current generational mix in the workforce.
- For me JPS is home and I could not present on this topic without sharing some data from home. At JPS we have 3 dominant generations present. Our Baby Boomers who account for the lionshare 35% of our workforce, we the millennials in a close second with 32% and not too far behind we find Generation X.
- This means that within our company we have 3 dominant generations. While personalities vary the generational mindset is dominant and strong for each. There are some anomalies like my boss who is a Boomer buy thinks like a millennial.
- From the data you will see that we have 2 dominant generations at JPS. Millennials and Baby Boomers in the workplace are not as dissimilar as some may believe. They value performance and results. Their strong traits complement each other as Millennials appreciate mentorship and Baby Boomers have knowledge and experience to share. Millennials are able to draw out and look for efficiencies and are very big on work-life balance. Boomers are independent thinkers who want to add value to the company and are prepared to go the extra mile.
- How prepare are you for the future? By the year 2020 Millennials we account for 50% of our workforce, however this does not mean that the other generations will disappear or wont require equal attention. With this reality on the horizon we have take steps to inject generational diversity into our businesses.
- Generational Diversity brings unique skills, talents & knowledge together. “To benefit from diversity we must first understand our differences” Once the differences are understood then it is your role as a leader to be prepared to change or augment the way you lead you team. Drawing on multiple styles or techniques. Choose which of team members will benefit most from: Mature judgement Ambitious enthusiasm Philosophical Wisdom Fresh Ideas If you do this then within your team you will be able to pull out best practices, ground breaking solutions and new innovations
- Cisco Systems is a highly technical company that has more than 67,000 employees worldwide. A case study documented by Metropolitan Life Insurance Company in 2009 shared that “To support its aggressive growth strategy, Cisco focuses on building a culture that maximizes collaboration and, in the process, engages employees of all generations. It does this by keeping them focused on the “big picture,” and using technology to push the limits of flexible work design.” The five strategies that Cisco employed allowed them to respond to the unique needs of each generation without over emphasizing their differences. They were able to establish an environment that catered to all their employees so that these employees could intern support the growth of the business.
- The multigenerational leader of this ear must: Honour each generation’s unique contributions while focusing on their similarities encourage generations to work together and share knowledge encourage business leaders to be flexible in their management styles obtain broad-based inputs from multiple generational perspectives to support better decisions leverage the unique talents and strengths of each generation support real communication and understanding across all ages, build on values and strengths “With astute management, organizations can leverage each generation’s unique characteristics to create a complementary multigenerational workforce that helps boosts the bottom line, employee retention, and market share.”
- Another tool is having generational working groups and it is biblical. God prefers to work within the scheme of many generations interacting with each other, rather than an isolated generation.” In the world of work we should be building an environment of mutual respect that encourages acceptance through opportunities for employees of different generations to work together. This allows us to benefit from the Power of Generational Unity
- What does the ideal multigenerational working environment look like? It is one where are employers we Attract, recruit and retain the best talent Encourage the use of age-diverse working groups Establish a work environment where ideation and innovation is welcomed Constantly track, assess and map the diversity within the workspace and market place
- Before a company can realise the benefits of a multi-generational workforce, it needs to understand each generation at a broader level. Organisations are not new to the idea of harnessing business values by developing and leveraging a diverse and inclusive workforce. There are 4 main benefits to be derived from a multigenerational workforce: Increased productivity Enhanced creativity Increased loyalty Extended company life
- Why should you push for a multigenerational workforce? Knowledge retention across generations -. Multigenerational teams + knowledge transfer = competitive advantage This workforce is proficient in knowledge retention across generations. This prevents brain drain or loss of talent Multigenerational teams + knowledge sharing = competitive advantage Different skills, knowledge, styles and experiences provide multiple options and solutions Differences create solutions
- Having an multigenerational workforce that shares knowledge across generations and facilitates collaborative working groups extends the life of your business. Through this our businesses are able to gain competitive advantage, Improve decision making and satisfy our diverse customer base
- Now that I have been talking for almost half an hour I hope you have gained some knowledge from what I have shared. If you forget all else please remember these final nuggets of truth. We must foster an environment of mutual respect. – Too often stereotyping gets in the way of generations working together effectively. We must provide opportunities for employees of different generations to work together - By creating balance we allow all generations to feel valued and important to the life of the business We must encourage reverse mentorship - Each generation has something to teach. The sharing of knowledge and expertise through mentorship creates a balance and helps to close knowledge gaps We must establish multigenerational working groups - A company also makes better decisions when they have received broad-based inputs from multiple generational perspectives. Encourage the use of cross-functional multigenerational teams. Let us continue to embrace differences and study our staff.
- I implore you to remember these 2 things: 1. Successful companies take advantage of generational diversity 2. Our employees are our most valuable resource, the more diverse the greater the value It was Gloria Steinem, the American born journalist and social political activist who said “We need to remember across generations that there is as much to learn as there is to teach”. So go, learn, teach and grow. Thank you.