The Millennials are Coming: Preparing for the Cogenerational Workplace
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Transcript of The Millennials are Coming: Preparing for the Cogenerational Workplace
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The Millennials Are Coming!
Making Sense of the Cogenerational
Workplace™
PRESENTATION TO
PARADISE FOODS
MANAGEMENT GROUP
December 7, 2011
Jim Finkelstein
President and CEO
FutureSense, Inc.
www.fusethebook.com
www.futuresense.com
You have exactly 1586
cows and calves!
1. You showed up here even though nobody called you…
2. You want to get paid for an answer I already knew…
3. To a question I never asked…
4. And, you don’t know anything about my business!
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Millennials in Boomer Clothing
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A Millennial in Boomer Clothing
Entrepreneur and Business Owner, FutureSense, Inc.
Partner – Arthur Andersen CEO of wholly owned subsidiary of
publicly traded company - Willis Corroon
Corporate executive, Pepsi-Cola, American Can, Emery Air
Investor, LinkedIn and RockTech Domain expert, Callidus Software Former Board member, Enwisen Board member, numerous non-profits
for 35 years Author and movie and record
executive producer Soccer referee and former coach Husband and dad
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Culture and the Workplace
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www.abraham-maslow.com
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www.spiraldynamics.netValue Systems
Basic Description
Cultural Manifestations
Turquoise Holistic/Whole View
Collective individualism, cosmic spirituality
Yellow Integrative/Ecological
Natural systems, knowledge-based
Green Consensus/Bonding
Egalitarian, humanistic, authentic, caring sharing
Orange Strategic/Autonomy
Materialism, consumerism, success, image, status, growth
Blue Authority/Rules Meaning, discipline, traditions, morality
Red Egocentric/Conquest
Dominance & control
Purple Mythical/Tribal Rites, rituals, taboos, superstitions,
folk ways & lore
Beige Instinctive Basic survival
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Cultural DNA Crosses All Demographics…
Gender Age Ethnicity Income Political Orientation
Gender Age Ethnicity Income Political Orientation
Gender Age Ethnicity Income Political Orientation
Gender Age Ethnicity Income Political Orientation
Gender Age Ethnicity Income Political Orientation
Gender Age Ethnicity Income Political Orientation
Gender Age Ethnicity Income Political Orientation
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The Cogenerational Workforce
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The Cogenerational Workforce
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Multi-Generational View of Millennials
• Generation Y• iGeneration• Digital Natives• Generation Why• Generation
Whiner• ADHD Generation• Adultolescents
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Multi-Generational View of Boomers
Generation Me Hippies Love Generation Self-absorbed
Generation Largest and richest
generation Pig in the Python
Generation
“As a group, Boomers are self-conscious, reflective and judgmental. We are the ‘me’ generation. You are the ‘why?’ generations.” -- G.L. Hoffman, CEO and Chairman of JobDig
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• Work Centric• Independent
• Goal Oriented • Competitive
• Individualistic• Easily Adapts to
Technology• Flexible
• Values Work/Life Balance
• Family Centric• Tech Savvy
• Achievement Oriented
• Team Oriented• Attention Craving
Baby Boomers Generation X Millennials
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Cogenerational Workplace Drivers: The Mash-up
ECON 101
LIVING LONGER
BIRTH RATES
SPIRITMIND BODY
CONNECTTO THE WORLD
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The Cogenerational Brave New World: A Political-Economic-Sociological View
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Impact: United Voting BlockNeeds Wants Values Characteristics
Millennials Jobs Flexible work environment
Work/life balance and survival
Boomeranging back in with Mom and Dad
GenXers Jobs To get back on the upward ladder
Work/life balance and money
Boomeranging back in with friends and family
Boomers Jobs To retire (for a while - tired)
Work/life balance and money
Boomeranging back in with kids?
Seniors Jobs To re-retire (not enough money)
Work/life balance and money
Taking them all in at the retirement community
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Impact: War of the Generations
Gridlock Not enough
jobs to go around Underemployed New job search
tools Interview
competition
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Impact: Boomerang Effect Multi-generational households grew by
2.6M between 2007 and 2008 (Pew Research)
40% of 2008 graduates and 42% of 2006 graduates live with their parents
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Implications of the New Cogenerational Workplace for Millennials, Boomers and Employers:Opportunities and Fusions
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Implications For Millennials Managing Mom and
Dad Accepting Feedback Appropriate
Communication Multiple Bosses
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Implications for Boomers
Become Tech Savvy Embrace Benefits of Social Media Let go of Stereotypes
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Implications: For Employers
Buyers MarketHigh Cost of
Millennial TurnoverMulti-channel
CommunicationBuild Strong
Employer BrandsPersonalize Benefit
ChoicesReexamine your
People Practices
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Why it Matters: EngagementLow Engagement
Operating income declined 32.7% (Towers Watson)
62% more accidents with scores in lower quartile. (Gallup)
High Engagement
More productive, profitable, safer, healthier, and 87% less likely to leave their employer. (Corporate Leadership Council & Fleming & Apslund)
19.2% improvement in operating income (Towers Watson)
EPS growth rate of 89 organizations with engagement scores in the top quartile was 2.6 times that of organizations with below average scores. (Gallup)
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Your People Practices:Dealing with Millennials!
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Employee Lifecycle Touch Points 6 Phases
AttractingAcclimatingRetainingInspiringFulfillingTransitioning
2 Overarching ConstructsSocial
NetworkingEmployee
Engagement
11 Segments – What about those Millennials?
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Attracting Demand Creation
What’s the social media buzz about your organization?
Does your website wow?
Does anyone manage your employer brand?
What’s your organization’s higher purpose?
Don’t be an ostrich. Monitor Glassdoor.com, employeedirt.com
Entice me and let me interact
Pictures compel, so does a higher purpose
Product brands aren’t enough – what’s the employee brand
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Attracting (Cont.)
RecruitingWhere will
Millennials find you?
Are you masterminding first impressions?
How fast can you hire?
Do your want ads lie?
Need to be everywhere – Monster, Twitter, Facebook, LinkedIn, etc
Connect them to great coworkers, introduce benefits early in the hiring process
Rework your processes 1 week is ideal
Match ad to job description, align interviewers and ensure the work experience is as promised
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Attracting (Cont.)Be Impressive First line of the job posting has to
convey the organization’s purpose Fast, easy job search functionality Position match notification Video to tell your company story No “motherhood and apple pie” values Corporate social responsibility counts
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Acclimating Onboarding
Do you delight on day one?
What has to happen in the first 100 days?
How does a new hire get smart about your brand and culture?
Is it time to lose your old school social media access policies?
Manager hosts and makes introductions
Map out the experience employees have in their first 100 days
Have your CEO teach the culture and company story
Get tech tools in their hands day one
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Acclimating (Cont):Millennial Work Wish List
Findings from Cisco Connected World Technology Report Accommodates social media Gives device freedom Supports remote working to accommodate their lifestyle Allows flexibility to explore and innovate
1 in 3 college students would prioritize social media & flexibility over salary when accepting a job
More than half of young professionals would rather lose their wallet before losing their Smartphone
2 in 5 young employees would accept a lower-paying job for more social media flexibility & work mobility
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Acclimating (Cont)
SupervisionAre managers
harboring generational bias?
What can you learn from your Millennials?
Do your managers stay connected and get their message heard?
Assess the attitudes of your people managers
Institute reverse mentoring between millennials and boomers
Make sure managers use a mix of the latest communication channels- blogs, video, etc to get their message heard…more pictures, less words – be human and authentic
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Acclimating:Blogs Extol Reverse Mentoring Cisco Blog The Results:
How Reverse Mentoring Can Enhance Diversity and Inclusion Laura Earle October 11, 2011 at 7:59
am PST
Benefits Shared Learning Honesty/Respect Relationship Continuation
Jack Welch ordered GE’s top 600 managers to reach down into their ranks for Internet junkies and become their students. Source: Forbes
Blog Reverse Mentoring is All About Screwing in the Lightbulb before Flipping the Switch
May 12, 2010
Shala Byers is the creator of Booz Allen’s Reverse Mentoring Program for 20,000 employees
Reverse Mentoring led to : Brainstorming Sessions Enhanced Client Offerings
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Acclimating:Advice From Cisco
Top 5 Areas to Mentor 1.) Communication and style 2.) Cultural knowledge 3.) How to be a better leader 4.) Relationship with team 5.) Change management Other topics: work-life balance, how to juggle a
family and a career and how a senior woman is perceived in a circle of senior men
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Acclimating:Get with the Program! “The future of business is social.“We have
to stop thinking about our companies as a corporate ladder. It doesn’t resonate with me, it doesn’t resonate with my peers. If we want to be an organization that really embraces change and adopts and is innovative, we need to think faster, smarter, social.”
Alexa Scordato
Community manager at 2tor, an education technology startup
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Retaining Compensation and
BenefitsDo you pay for
performance, potential, both?
How much employee choice is built in to your benefits?
How do you use base and incentives?
Bring people in at the right salary
Let employees choose benefits that fit their priorities
Be clear about your comp philosophy – and why it is competitive
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Retaining (Cont) Learning and Career
DevelopmentHow often are people
moved to different jobs?
What does it take to get promoted?
Is training interactive and online?
Do you do strategic workforce planning?
Millennials will want to move every 18 months
Tie promotions to tangibles so the process feels equitable
Offer interactive online training as a learning option
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Inspiring
Reward and RecognitionDo pennies rain
down on desks? Is recognition
having an impact?Variety is the spice
of recognitionDo your managers
deliver?
Find small ways to shower people with recognition
Make recognition timely and personalized
Look at non-traditional, free forms of recognition – the ability to choose your next assignment, seeking input on a decision, other ways to show people they are valued
Inspiring (cont): Recognition and Organizational Health
“Senior management’s ability to demonstrate genuine interest in employees is the top engagement driver globally.”
“Strong manager performance in recognizing employee performance increases engagement by 60%.” Towers Perrin Study
Higher engagement levels produced shareholder returns 9.3% higher than the returns for the S&P 500 from 2002-2006
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Inspiring (Cont).Recognition
Challenging Assignment Choice of new Assignment Day off of Work Consult my Expertise Request my Input on
Decisions Trust my Intentions Hear kudos from my
Manager, in addition to Team leader
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Inspiring (Cont)
Performance ManagementDo you offer 30
day reviews?Do you have a
culture of ongoing feedback?
Do reviews play into promotion decisions?
Inspiring (Cont)The Feedback Planner
1. Describe Current Behaviors 4. Identify Alternative Behaviors
Describe current behaviors that you want to reinforce (praise) or redirect (criticism) to improve a situation.*Be Specific With Behaviors*Be Descriptive*Be Brief*Be Available And Open*Be Patient*Be Prompt*Be Sensitive To Time And PlaceBox 1 of the Feedback Planner provides the foundation for a mutually agreed upon and understood perspective of the current behavior.
Identify alternative behaviors and actions for you, the employee, and others to take to improve a situation.*Be Encouraging And Offer Ideas*Be Creative With Options*Be Part Of The Plan*Be OptimisticBox 4 is where problems with undesirable behavior (being criticized) are creatively solved, and benefits with desirable behavior (being praised) are reinforced and capitalized on.
2. Identify Situations 3. Describe Impacts and Consequences
*Be Factual With Examples•Box 2 confines the current behavior to a time and place.
*Be Precise And Selective*Be Objective*Be SupportiveBox 3 spurs behavior change – it justifies and sells the need for change.
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Fulfilling Social
ResponsibilityNeed help going
green?Do you give paid
time off to volunteer?What causes do you
support through formal programs?
Do you sustain programs during good times and bad?
Millennials want to make the world a better place – give them time to do that
Community support is an ideal avenue to bring Millennials and Boomers together
What you support during hard times speaks volumes
Most Millennials want a hand in green initiatives – give them one if you can
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Fulfilling (Cont):Employee Volunteerism Trends
1/3 of US Corporations have some form of Employee Volunteer Program (EVP)
Two models: Employer-initiated Employee-led, Most companies have
both types. Community action
days are most popular.
What is your organization doing?
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Fulfilling (Cont):Dollars for Doers
Company Grant Amounts
Adobe Systems $125 for every 10 hours
Amgen $500 for every 15 hours
Bank of America $250 for 50 hours; $500 for 100 hours
Gap $100 for every 10 hours
GlaxoSmithKline $500 for at least 50 hours
Google $50 for every 5 hours
Johnson & Johnson $250 for at least 40 hours
Merck $400 for at least 40 hours
Microsoft $17 per hour
Novartis $250 for at least 40 hours
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Fulfilling (Cont) Work/Life Balance
What’s your organization’s philosophy on work/life balance?
Can people flex their schedules?
Do you help people manage stress?
Are managers trained to support work/life balance?
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Transitioning
TerminationHow do you
handle force reductions?
How do you preserve tribal knowledge?
What will employees say after they leave?
Cisco Systems – “Typical huge company” “Company is losing full time employees rather quickly. The good employees are leaving to take better offers, and the bad ones are sticking around. People who left were offered 20% more to work elsewhere. Lost positions are typically not being backfilled. I have no visibility with my current manager now, which will greatly stunt my career growth. There are no plans to have a US manager.” Glassdoor.com
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The Payoff
Cogenerate
more inspiration,
productivity,
satisfaction and
engagement
in the workplace.
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Your turn
What other challenges are you facing working with Millennials?
How is Paradise Foods capitalizing on the power of the new Cogenerational Workplace?
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www.fusethebook.com
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Thank you!
www.futuresense.com
Jim Finkelstein
415-453-1514 office
415-302-5805 cell
www.fusethebook.com