April 1 1 30pm - lindsey pollak & laura marzi

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April 1 1 30pm - lindsey pollak & laura marzi

  1. 1. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. TOMORROW’S LEADERS IN THE WORKPLACE Lindsey Pollak, Best-selling author and Millennial Career Expert Laura Marzi, Assistant Vice President, The Hartford
  2. 2. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. Who are the Millennials, and why are they such a focus for today’s marketing professionals? Today we will discuss: What’s different about this generation that is impacting the workplace? How do we prepare producers and employers for this evolution? Learning Objectives 2
  3. 3. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. U.S. Population Why Are Employers Interested in the Generations? • Four generations together in the workforce • Global demographic shifts • Increased attention to diversity overall • New rules with healthcare reform 3 80 million Generation X 1965 – 1981 46 million Baby Boomers 1946 – 1964 76 million Traditionalists 1922-1945 50 million Generation Y 1982 – 2000
  4. 4. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. Generations in the Workplace • People of different generations work differently • It’s important to look beneath the behavior for the motivation • Common sense isn’t so common
  5. 5. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. Communication Across Generations 5 Generation X 1965 – 1981 Baby Boomers 1946 – 1964 Traditionalists 1922-1945 Communication model: Formal etiquette Preferred communications: Business letter, telephone etiquette, dictation Communication model: Competition, influence Preferred communications: Memos, secretary answering phone, board room table Communication model: Technological, one-to-one Preferred communications: Fax, email, FedEx Communication model: Instant, social, one-to-many Preferred communications: IM, text, Skype, social media Generation Y (Millennials) 1982 – 2000
  6. 6. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. Feedback Across Generations 6 Generation X 1965 – 1981 Traditionalists 1922-1945 No news is good news, clear instructions Formal annual review Casual, hands-off, self-assessment Constant, on-demand, parental/coach-like Preferred Feedback Baby Boomers 1946 – 1964 Generation Y 1982 – 2000
  7. 7. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. Generation X 1965 – 1981 Traditionalists 1922-1945 Career Drivers Across Generations 7 Security, satisfaction of a job well done Prestige, success compared to peers Independence, freedom Self-expression, social standing, early success Career Drivers Baby Boomers 1946 – 1964 Generation Y 1982 – 2000
  8. 8. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. Workplace Demographic Shift By 2014, the Millennial generation will account for 36 percent of the U.S. workforce, and by 2025, they will account for 75 percent of the global workforce. - - Millennial Survey, Deloitte 2013 8 • Employers need to cultivate a productive work environment to reach their business goals. • Recruitment and retention strategies have changed, as have the benefits that employees desire • Evolution isn’t optional!
  9. 9. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. Millennials worldwide. 1.7 billion There are Worldwide Shift This represents 25.5%of the world’s population. 1/3 of India’s population is under age 15 Gen Y makes up 50% of China’s current working-age population 9 2013, Population Reference Bureau
  10. 10. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. What Makes Millennials Different?
  11. 11. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. The First Globally Defined Generation 11
  12. 12. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. Digital Natives 12
  13. 13. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. Constant “Connection”
  14. 14. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. Social Media: Everything Can Be Shared 14
  15. 15. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. Meet The Next Benefits Executive 78 percent of Millennials consider themselves to be a leader today. - The Hartford’s 2013 Millennial Leadership Survey • 44% of millennials have only three to five years of experience, yet 41% have four or more direct reports.1 • By contrast, at the same age, most baby boomers and Gen X-ers were still in junior-level positions.1 63.3% of U.S. executives will be eligible to retire in the next 5 years. -2014 US CEO Findings, PWC 151Millennial Survey 2014, Deloitte
  16. 16. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. How to Reach Millennials (and Make Voluntary Benefits Relevant)
  17. 17. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. Customize EVERYTHING 17
  18. 18. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. If They Design it, They Will Come 18
  19. 19. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. Access to Online Research and Reviews 19
  20. 20. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. So This Happened… 20
  21. 21. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. Up Next…Design-Your-Own Benefits 76 percent of consumers say it’s important for them to be able to design their own disability insurance vs. a one-size fits all coverage. 21 The Hartford’s December 2012 survey
  22. 22. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. User Generated Content CAN HELP DO OUR JOBS! 22 Carriers must embrace UGC as Marketing practice
  23. 23. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. Online Experiences: • Online enrollment • Education Portals • Worksite events UGC in Employee Enrollment Experience 23 User Generated Content Collection
  24. 24. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. Employee benefits will evolve: Plugged-in Workforce • Insurance purchases become a retail experience: employees expect to see reviews from all service providers • Every benefits service must be available 24/7/365 by web and mobile – Signing up for benefits – Paying premiums – Making claims • Connecting with colleagues • Employees will expect transparency and direct access to work tools 24
  25. 25. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. A New Life Milestone – The Hartford’s Gen Y Speaks Survey, 2014 What’s changed? The average graduate in 2013 owes $30,000 in student loan debt. The deadline for that burden kicks in right as graduates are starting to gain financial independence. – Analysis of government data by Mark Kantrowitz, 2013 Insurance Purchase Triggers 25
  26. 26. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. Awareness delivered through: – News stories – Social media – Live appearances (customers, producers, industry conferences) Coverage by Audience TypeCoverage by Audience Type 26 Our Message Has Reached Over 30 Million • U.S. News • Forbes • CBS Money Watch • Fox News and many more…
  27. 27. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. Q&A 27 Follow Lindsey on Twitter @lindseypollak and find more at thehartford.com/tomorrow
  28. 28. Copyright © 2014 by The Hartford. Confidential. For internal distribution only. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford. 28 The Hartford is The Hartford Financial Services Group, Inc. and its subsidiaries, including issuing companies, Hartford Life Insurance Company and Hartford Life and Accident Insurance Company. Home Office is Hartford, CT.

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