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© 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg/cee.php Harnessing the Potential of Multigenerational Workforce Prof Sattar Bawany CEO, Centre for Executive Education Strategic Advisor, IPMA Asia Pacific Senior Advisor, Eduquest International Institute Thursday, 13 June 2013 Eduquestindia Institute, Pvt Ltd Chennai, India

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Page 1: Eduquest harnessing potential of multigenerational workforce   13 june 2013 revised

© 2013 Centre for Executive Education Pte Ltdwww.ipma.com.sg/cee.php

Harnessing the Potential of Multigenerational Workforce

Prof Sattar BawanyCEO, Centre for Executive EducationStrategic Advisor, IPMA Asia PacificSenior Advisor, Eduquest International Institute

Thursday, 13 June 2013 Eduquestindia Institute, Pvt Ltd Chennai, India

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2© 2013 Centre for Executive Education Pte Ltd

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Every morning in Asia, a tiger wakes up. It knows it must outrun the slowest deer or it will starve to death.

Every morning in Asia, a deer wakes up. It knows it must run faster than the fastest tiger or it will be killed.

It doesn’t matter whether you are a tiger or a deer: when the sun comes up, you’d better be running…..

Are You A Tiger Or Deer?

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Knowing Yourself - Assessment

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The Centre for Executive Education (CEE) is the Executive Development Division of The International Professional Managers Association (IPMA).

IPMA is a global ‘not-for-profit’ (NPO) members organisation headquartered in Kent, UK with Regional Offices in Europe, Africa and Asia Pacific

CEE’s mission is to assist client organisation to secure a leading position in their respective market place and developing a sustainable competitive advantage through developing their key asset, intellectual capital of the people.

CEE offers talent management solutions including executive coaching and custom-designed leadership development programs to accelerate individual performance and succession planning for organisations.

Eduquest offer training programmes for a wide spectrum of capabilities, knowledge and attitudes that help every individual to become more proficient and professional in carrying out the tasks assigned to them so as to enhance their employability skills.

Who We Are

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5© 2013 Centre for Executive Education Pte Ltd

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CEO, Centre for Executive Education Strategic Advisor & C-Suite Coach with IPMA / EDA Asia Pacific Senior Advisor, Eduquest International Institute, Singapore/India Co-Chair of the Human Capital Committee of the American Chamber of

Commerce in Singapore (AmCham Singapore). Member of Frontier Strategy Group’s Expert Advisory Network (EAN) for

Talent Management issues in Asia Pacific advising CEOs and CHROs of global and regional organisations.

Over 25 years’ international business management in executive coaching, facilitation, leadership development and training

Adjunct Professor of Strategy at Paris Graduate School of Management teaching international business strategies, leadership development and human resource courses

Previously assumed senior leadership roles with global management & HR consulting firms: DBM Asia Pacific, Mercer Human Resource Consulting, The Hay Group and Forum Corp

About Your Speaker

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Danger or Opportunity?

Our multigenerational work environment can be a source of positive challenge, opportunity and significant growth if managed effectively and leveraged to meet the business goals of our 

organization. 

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Shifting Demographics By 2017, workers in the US, Canada, France, Germany, Japan,

Singapore., Italy and the U.K. aged 50 and over will make up more than 40% of the workforce (AARP Profit from Experience, 2007) and will be poised to retire in large numbers within the next ten years.

Gen X represents a much smaller pool of available workers and will not be able to fill the positions left vacant by retirements (Institute for the Future, 2003).

In light of this predicted labor and skills shortage, it is imperative for forward-thinking companies to focus on retaining older workers and increasing their ability to recruit and engage younger workers.

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Most employees are:Working in multi-generational teamsView that multi-generational teams improve organizational performance

No Authoritative Published Data for Malaysia.Key findings from survey commissioned by TAFEP:

Together, Gen X and Gen Y make up 60% of the workforceMeans that 40% of the workforce is over 45 years of age

Source: Tripartite Alliance for Fair Employment Practices (TAFEP) www.fairemployment.sg

Present Day Workforce

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The 5 Generations

i-Generation / Linksters

Generation Y / Millenials

Generation XBaby BoomersTraditionalists

68 and over 50-67 33-49 19-32 18 and under

Leaders yesterday

Leaders today

Next Leaders

50% Global workforce

5 years to workforce

“Aging workforce population”

1922-1945 1946-1964 1965-1980 1981-1994 1995-2010

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i-Generation / Linksters

Generation Y / Millenials

Generation XBaby BoomersTraditionalists

68 and over 50-67 33-49 19-32 18 and under

1922-1945 1946-1964 1965-1980 1981-1994 1995-2010

Value logic and discipline,

stability, want a legacy

Idealistic, competitive, questions authority,

dislikes change, recognition,

stellar career

Work/life balance, career

portability, flexible, some anxiety, dislike

micro management

Value diversity, technologically

superior, change, want meaningful

work, embrace selected

technologies and don’t let go

Technology a part of life, never lost,

multi-profiled, multi

collaborators, multi personality

multi locations

The 5 Generational Traits to look out for

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Generational Work PerspectivesGeneration Years Born Work Perspectives

Traditionalists 1922 - 1945 “Company loyalty” - Believed they'd work for the samecompany their entire career.

Boomers 1946 - 1964 “Live to work” - Believe in putting in face time at the office.Women enter the workforce in large numbers.

Gen Xers 1965 - 1980 “Work to live” - Believe that work should not define theirlives. Dual-earner couples become the norm.

Gen Yers (Millennials)

1981 - 1994 “Work my way” - Devoted to their own careers, not to theircompanies. Desire meaningful work.

Gen Zers (Linksters)

1995 to present “Living and Working their way” - Their struggles in the workenvironment are tied to their youth and inexperience.Desire for change, stimulation, learning and promotion thatwill conflict with traditional organisational hierarchies.

Sattar Bawany, ‘Unlocking unlocking the benefits of a multi-generational workforce in Singapore’, http://sbr.com.sg/hr-education/commentary/unlocking-benefits-multi-generational-workforce-in-singapore, published in Singapore Business Review on 24 January 2013

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Traditionalists(Born before 1946)

Baby Boomers(Born 1946-1964)

Gen X(Born 1965-1980)

Gen Y(Born after 1980)

PotentialChallenges

• Reluctant to buck the system and speak up when they disagree

• Uncomfortable with conflict

• Uncomfortable with conflict

• Sometimes put process ahead of results

• Skeptical• Distrust authority• May not be

attracted to leadership positions

• View changing jobs as a natural process

• Likes to instill a sense of play and fun in the work

Perception • Despise workers who appear to jump ladder rungs without ‘paying their dues’

• Might not be as conscious to issues on cross culture

• Might believe that employees who fail to put in ‘extra time’ lack commitment, focus and loyalty

• Might not recognize the off-site contribution of employees

• Need to be reminded to delegate tasks and responsibilities

• Multi-tasking abilities can be construed as rude

Communication • Feedback is not necessary, but they want to know that they have made a difference

• Documented feedback on a yearly basis is sufficient

• Frequent, honest feedback to know they are on the right track

• Immediate feedback that tells them what they are doing right or wrong

Source: Lynne C. Lancaster and David Stillman ‘When Generations Collide: How to Solve the Generational Puzzle at Work’, 2002.

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Source: The Straits Times, Singapore 8 April 2010

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Group ExerciseGenerational Themes

List five social events/trends from the first 20 years of your life.

In small groups, discuss the following: How do you think these events shape your thinking and behavior,

especially at work?

With which generation do you experience the most conflict? Why?

What is the most important thing for other generations to know about your generation?

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Differences

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Virtually fun and new languages

www.urbandictionary.com

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Bringing a New Type of Language to the Workplace Your gf is getto lol

Rofl nah she’s cool

Lol coolies ttyl gtg pos

Your girlfriend is lower class laugh out loud

Rolling on the floor…

Laugh out loud, stay cool, talk to you later, got to go, parents over (my) shoulder

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Multigenerational Communication

Keeping these generational differences in mind can make dealing with co-workers, less of a challenge.

Remember to discard biases and preconceived notions and enjoy the generational differences

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More flexible in changing demographics

Broader insight into your customer base

Wider pool of Talent

Diverse perspectives leading to stronger decision-making

Greater innovation and creativity

Meet the needs of diverse stakeholders

Multigenerational workplaces can be a source of positive challenge,opportunity, and significant growth if managed effectively.

Benefits of Multigenerational Teams

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How Does the Multi-Generational Workforce Impact Employers?HR professionals can play a strategic role by partnering with their Business Leaders in meeting the needs of their employees.

Are there specific business units that have a higher percentage of baby boomers set to retire in the next 10 years?

What are some possible flexible work options that will simultaneously attract all generations while encouraging Traditionalists and Boomers to remain employed and play key roles in knowledge transfer, leadership development, and mentoring of younger workers?

How can Human Resources professionals coach managers to maximize the performance of each generation?

What specific tactics are HR professionals using to attract the ‘best and brightest’ of the Gen Y employees that might differ from strategies used for other generations?

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Baby Boomers are retiring at the rate of one every eight seconds

The vast majority of organizational leaders are Baby Boomers with the most typical age being 58 years old.

There are 11% fewer Gen Xersthan Baby Boomers

Generation Y (twenty-five and under) will not be management/leadership material for years to come

EDA Research: The New Realities

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Source: “’Y’ Are They Different” – A Study of Gen Y at Work, Their Views and How They are Viewed, Published by GMP & Temasek Polytechnic, 2009

Leadership Characteristics That Gen Y-ers Want Their Leaders To Demonstrate

Leadership Characteristics That Managers From The Other Generations Believe In Demonstrating To Gen Y-ers

1. Caring (54%) 1. Competent (54%)

2. Inspiring (45%) 2. Honest (32%)

3. Competent (44%) 3. Forward-looking (31%)*Numbers in parentheses reflect percentage of respondents who selected this as a preferred strategy.

http://www.gmprecruit.com/resource_hub/..%5Cpdf%5CResourceHub%5Cgeny_press.pdf

Leading Gen Y Employees

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Top Factors That Motivate Gen Y To Stay In Organizations

Retention Strategies Most Utilized By Organizations

1. Opportunities for Career Advancement (63%)

1. Opportunities for Career Advancement (43%)

2. Good Work-Life Harmony (41%) 2. Emphasis on Learning & Development (37%)

3. Good Relationships (40%) 3. Good Compensation (24%)

*Numbers in parentheses reflect percentage of respondents who selected this as a preferred strategy.

Engaging Gen Y Employees

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Calculate Your Current (and Future)Investment in Gen Y:

How many Gen Y employees does yourorganisation currently have?

What is the average compensation forGen Y employee at your organisation?

Multiply the number of Gen Y employees xYour average compensation.

Can be seen as the risk your organisationtakes in assuming Gen Y will meet youremployment needs.

The better managed this investment, thelower the risk and the better return for allinvolved.

Exercise: Managing the ROI on Gen Y?

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Generation Z: The digital natives

Students today are all “native speakers” of

the digital language of computers, video games,

instantaneous communication, and the

Internet.

Students today are all “native speakers” of

the digital language of computers, video games,

instantaneous communication, and the

Internet.

Source: Marc Prensky, “Digital Natives, Digital Immigrants” (2001)

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The Linkster Generation (those born after 1995) is the onejust entering the workforce now. Like any other generation,it brings its own mindset into the workforce.

Linksters primarily work part-time while attending school. They are called Linksters because no other generation has

ever been so linked to each other and to the world throughtechnology. Their struggles in the work environment aretied to their youth and inexperience.

They are complete digital natives and cannot functionwithout communicating through social media.

Desire for change, stimulation, learning and promotion thatwill conflict with traditional organisational hierarchies.

Source: Generations, Inc., by Meagan Johnson and Larry Johnson. 2010, AMACOM.

Gen Z or The Linksters

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Get them into a routine that they can master. Generation Z will be unlike Baby Boomers, who are often

loyal to a firm. They don’t expect jobs for life and will moveonto the next job, similar to Generation Y.

Managers of Generation Z employees will have to beprepared to give regular feedback that tells them they aremaking a difference to the organisation

Development and work/life balance are more important thanfinancial reward, with both Gen Y & Z being committed totheir own personal learning and development.

Source: Edge Online Future of work - Employees 3.0: Managing Generation Z published on 28 August 2012http://www.i-l-m.com/edge/managing_generation_Z.aspx

Managing Gen Z

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• Profitability/ROI• Cost Optimisation• Employee Turnover /

Retention

• Employee Satisfaction• Employee Loyalty

• Policy on CSR, Sabbatical• Rewards and Flexibility• Culture, Espirit De Corps

• EQ Level & EI Competencies• Servant Leadership/Level 5• Leadership Styles

Organisational Results

Talent Engagement

Organisational Climate

Leadership Effectiveness

Customer Loyalty• Customer Satisfaction• Service Value/

Relationship

Bawany, S. (2011) “Ways to achieve Organisational Success: Role of Leaders in Engaging the Multi-Generational Workforce” published by Singapore Business Review, 1st November 2011. http://sbr.com.sg/hreducation/commentary/ways-achieve-incredible-organizational-success-0

Engaging Your Multi-Gen Talent

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Source: http://www.youtube.com/watch?v=rDAdaaupMno

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Conclusion: Strategic Tips Build team spirit by talking about the

generational issues to depersonalize the conflict that arises due to the differences.

Recognize and celebrate the differences. Over communicate. Seek to understand

and only then to be understood. Engage through Managerial Coaching Encourage constant feedback and show

recognition for Y-er’s & Z-er’s contribution “Opportunities for Career Advancement”

and “Good Relationships” are key factors Learn to use technology – it is here to

stay!

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If you do tomorrow what you did yesterday

Your Future is History……………

If you do tomorrow what we’ve covered today

Your Future is Historic!!!

Final Thoughts

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http://www.youtube.com/watch?v=03o1JZ7c7gI

Video: Leading Multigenerational Team

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Prof Sattar BawanyCEO, Centre for Executive Education &

Strategic Advisor, IPMA Asia Pacific Email: [email protected]: www.ipma.com.sg/cee.phpLinkedIn: www.linkedin.com/in/bawanyFacebook: www.facebook.com/ipma.singaporeTwitter: www.twitter.com/sattarbawanySkype: sattar.bawany

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