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MODERATOR: Jennifer Sabatini Fraone / Director of Corporate Partnerships / Boston College Center for Work & Family

PRESENTERS:Susan Weinstock / Vice President, Financial Resilience Programming / AARPSara Weil / Assistant Vice President, Global Diversity & Inclusion / Moody’s Corporation

EXISTINGNEEDCASESTUDIES:UnderstandingtheGenerationalDivide:Recruitment,

Engagement&Benefits

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UnderstandingtheGenerationalDivide:

Recruitment,Engagement&Benefits

Tuesday, October 9, 20182:00pm - 3:30pm, Shubert Room

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Speakers

î Jennifer Sabatini Fraone, Director of Corporate Partnerships, Boston College Center for Work & Family

î Susan Weinstock, Vice President, Financial Resilience Programming / AARP

î Sara Weil, Assistant Vice President, Global Diversity & Inclusion / Moody’s Corporation

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• Partner with leading organizations to improve the total employee experience and business outcomes

• Bridge builder between academic research and corporate practice

• Resources available on our website: www.bc.edu/cwf

• Follow us: @BCCWF

Boston College Center for Work & Family

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Generations

Boston College Center for Work & Family

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GenerationZ

Boston College Center for Work & Family

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LifeStages

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WhatReallyHasChangedforMillennials?

§ The increasing impact of technology§Delays in making “adult commitments”§ Shifting gender roles (in the workplace and at

home)§ Changing nature of careers and expectations

about workBoston College Center for Work & Family

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WhatDefinesCareerSuccessforMillennials?

1. Work-life balance (44%)

2. Job satisfaction (43%)

3. Salary/salary growth rate (35%)

4. Achievement of personal goals (27%)

5. Work achievements (25%)

6. Development of new skills (24%)

Rated as “extremely important” in survey of 1,100 Millennials

Boston College Center for Work & Family

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WhatareMillennialslookingfor?

î “Millennials want to be well paid, do interesting work, and have an opportunity to advance, learn, and develop. They want a supportive boss, to work with people they like and trust, and have credible leaders who treat them with respect.”

Jennifer Deal, Center for Creative Leadership

Is it me or does that sound like what all of us want? Boston College Center for Work & Family

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Bridging generational divides

Boston College Center for Work & Family

GEN X and MillennialsMillennials crave consistent, detailed feedback. Gen X members tend to be more autonomous. They may not give as much direction and support as younger employees want.

Boomers and MillennialsMany boomers paid heavy dues in hierarchical organizations. Now that they're in charge at many companies, they often expect younger employees to do it their way. Millennial Women

Powerful boomer women had to fight hard and sacrifice a lot in male-dominated fields to earn their careers. Younger women don't necessarily want to emulate their predecessors' gave-it-all-at-the office approach.

Millennial MenBoomer leaders may not understand that Millennial male employees have responsibilities at home and need (and want) to be equal caregiving partners.

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FromGenerationalDividetoIntergenerationalUnderstandingî Shared hopes, aspirations, experiences > differences

î Recognition of the “whole person” and where they are at – where they are going

î Everyone has value and can both teach and learn from one another

î Creating a culture of trust, collaboration, partnershipBoston College Center for Work & Family

www.bc.edu/cwf@BCCWF

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Susan WeinstockVice President, Financial Resilience

AARP

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FiveGenerationsintheLaborForceî Unemployment is at record

lows, and employers report that finding top talent is their #1 concern.

î The labor force is aging – by 2024, workers 50+ will make up 35% of the workforce.

î Employers are taking note of these trends, and are increasingly interested in looking for top talent regardless of age.

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MixedAgeTeamsAreMoreProductiveØ Four different German studies published between 2008 and 2013 found that age

diversity can improve organizational performance if managed well:

Ø When there are age-inclusive HR practices organizational performance goes up and employee turnover goes down.

Ø In companies that utilized mixed-age work teams, the relative productivity of both older and younger workers was higher than in companies that did not use mixed-age teams.

Ø Age diversity has a positive effect on teams performing creative tasks as well as complex decision-making tasks.

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KeytoBuildingMultigenerationalWorkforce

î Include Age as part of Diversity and Inclusion strategy î Only 8% of CEOs do

î Recruit talent of all ages

î Open internships/apprenticeships to all ages

î Develop returnship program for experienced workers who have been out of the workforce

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KeytoManagingMultigenerationalTeams

ØCustomize your style and reject generational stereotypesØShare the big picture and find common groundØBreak down generational silos.

ØExplore different types of mentoring arrangementsMultigenerational Teams: Don’t Overthink It by Robert Half, (Robert Half blog, July 33, 2017) https://www.roberthalf.com/blog/management-tips/the-key-to-

managing-a-multigenerational-team-dont-overthink-it

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UseTechnologytoUniteaMulti-GenerationalWorkforceî Engagement:

î Help people feel part of the team; î Platform for suggestions, î Spotlight efforts and results

î Collaboration: î Tools that enable people to work togetherî Knowledge transferî Nurture mutual respect and develop relationships

î Flexibility: î Ability to work at different times and locations

3 Ways Technology Can Unite a Multi-Generational Workforce by Sam Bloedow (Thriveone, April 28, 2017.)

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EmployerExamples

î BMW

î Chemoxy International

î Huntington Ingalls Industries

î PNC Bank

î AT&T

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AARPCanHelp

î Employer Pledge Program

î Job Board

î Online Career Fairs

î In-person and online learning for job seekers

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Sara WeilAssistant Vice President, Global Diversity & Inclusion

Moody’s Corporation

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GenerationalDiversity– Moody’s

� Cross-generational – focus on learning, sharing, building bridges

� Generational ERG (GenERGy)

� Leveraging Generational Diversity

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Moody’sGenerationalERG(GenERGy)

î Mission Statement: The Generational ERG seeks to leverage the energy, insights and experiences of our multi-generational workforce in order to cultivate an inclusive work environment that fosters greater connectedness and supports the development of all generational groups.

î Understand: Knock down stereotypes and misconceptions and focus on exploring similarities.

î Connect: Cross-generational collaboration leads to more creative thinking and more successful ideas

î Grow: Learn from one another. Aim to help develop skills crucial for employees from all generations.

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GenERGyProgramming

2018� Cross-Mentoring Pilot Program� Get to Know the Business: MIS

Technology You Should Know� Beyond the Hype: How Al, Regtech

and Blockchain are Transforming Financial Services

� Breakfast with Leaders Series*� World Cup Celebrations*� “Planning for your Financial Future”

with Fidelity� Gen X as Executives

2017� Debunking Myths About Workplace

Flexibility� Millennials in Leadership� Moody’s and the Media: Adapting to the

(R)Evolution� Disrupting The Workplace: How

Generational Diversity Impacts Innovation

*events done in partnership with other Moody’s ERGs

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Cross-MentoringProgram

What is it? î Cross-Mentoring involves grouping employees across different generations, businesses and backgrounds

with a goal of mutual learning and growth

î There is no mentor/mentee role distinction between members of the group

Why is it important? î Individuals from different generations can learn from each other’s perspectives and experiences

î This can increase our ability to collaborate and communicate effectively with individuals of a different

generation

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PilotProgramMechanics

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Discussionguidesî Kick-Off: Set expectations for program and introductions to groupsî Month 1: Leveraging Generational Diversity / Intersectionalityî Month 2: Views on Work / Life Integrationî Month 3: Technology and Social Media Presenceî Month 4: Expectations about Growth and Advancementî Month 5: Impact of Global Events and Industry Trends

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ImportanceofGenerationalCompetence

î Positions Moody’s to hire, retain and gain the full contribution of the most talented employees across the organization

î Thinking of our “generational” differences adds another layer of diversity amongst us all

Sources: CTI Research:

Misunderstood Millennial Talent: The Other Ninety-One PercentThe X Factor: Tapping into the Strengths of the 33-46-Year-Old Generation

Bookend Generations: Leveraging Talent and Finding Common Ground

How Gen Y & Boomers Will Reshape Your Agenda

î We foster an inclusive and collaborative work environment where everyone’s views matter, and believe that a diverse workforce makes us more effective

î Ability to understand, appreciate and meet the specific needs of different generations

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Objectives

î To provide practical strategies for leveraging generational diversity to accelerate connection, communication and engagement across the organization.

î To give employees at Moody’s an understanding of the values and diversity among the three main generations in the workplace (i.e., Millennials, Generation X, Baby Boomers)

î To give managers tools to most effectively lead and empower a multigenerational workforce.

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ProgramOverview

î Pre-work: workplace values and seismic shifts across generations

î Understanding generational differences –intersection of perspectives

î Strategies to engaging a multi-generational workforce

î Actions you can take

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Rollout

î Pilot program with managers and individual contributors across Moody’s

î Partner with Why Millennials Matter to train the trainer

î Reformatted program to target individual teams vs. cross-functional teams (option to customize scenarios)

î Internally marketed to leaders through HR Business Partners, D&I ambassadors and D&I team

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InSummary

� Focus on inclusion: cross-generational learning, sharing, building bridges

� Educate employees and managers on generational diversity – give them tools to communicate, connect and engage

� Leverage generational diversity as a path to intersectionality and other D&I topics

� Partner with subject matter experts, do your research!

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