The Young and the Restless:g1

How Gen Y is Changing our WorkforceHow Gen Y is Changing our Workforce

http://americansmallbusinessinstitute.org/Editor/assets/gen%20y.jpg

Michelle A. Marks, Ph.D.

Four Generations in Today’s Workforce2

T di i li 62 ldTraditionalists > 62 years old

Baby Boomer 44 to 62 years old

Gen X 28 to 43 years old

Gen Y < 28 years old

Complaints about Gen Y: p3

Th h They spend too They have no

They have no loyalty!

much time on line. communication skills!

She wants a performance

bonus? She should

They have no work ethic.

bonus? She should be lucky to have a

job. “She wants a career map?” p

He’s been here 4 months and he wants

a promotion.

Complaints from Gen Y:p4

Th d They don’t treat They don’t know

They spend way too much time in

meetings.

me with respect. how to use technology to

make their jobs i

Go to the office?...I can do

They don’t respond in a reasonable

easier.

o ce?... ca do my job from anywhere!

timeframe.

If I hear “we tried that in 1990” one

more time…..

4

Traditionalists (born 1922-1945)5

Character-Shaping Events

Cuban missile crisisFirst manned space flightFirst manned space flightFirst increase in economic prosperityHome and TV ownershipHome and TV ownershipGrowth in white collar jobs

Traditionalists (born 1922-1945)6

Traditionalist Generation Characteristics Traditionalist Generation Characteristics Dedication, sacrifice & hard workConformityConformityPatienceRespect for authorityRespect for authorityDuty before pleasureConservative spendersConservative spendersDisciplined

Baby Boomers (born 1946 to 1964)y ( )7

Vietnam War

Character Shaping Events

Vietnam WarWidespread ProtestsAssassinations of LeadersAssassinations of LeadersCivil Rights MovementSex, Drugs and Rock’n’Roll

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Baby Boomers (born 1946 to 1964)8

B G ti Ch t i tiBoomer Generation Characteristics

Defined by their jobs ”workaholics”Defined by their jobs-- workaholicsOptimisticValue personal gratification and personal growthValue personal gratification and personal growthSuccess is visible: values quality, titles, trophies, plaques, money, rewardsHeroes: John and Jacqueline Kennedy, Gandhi, John Glenn

Generation X (born 1965 to 1980)9

Character Shaping Events

End of Cold WarFall of Berlin WallIncrease in Divorce RateGrowth of InternetM i l ffMassive layoffs

Generation X (born 1965 to 1980)Generation X (born 1965 to 1980)10

X Generational CharacteristicsX Generational Characteristics

Indifferent to authorityyLoyal to people, not companiesRisk takers & entrepreneurial“Latch Key” kids: self reliantSkepticalSeeks challengeIndependent, difficulty with teamsP bl Portable careers

Gen Y (born 1981 – 2000) Gen Y (born 1981 – 2000)

Character-shaping events

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Character shaping events

911 and World Trade Center BombingsSchool violence – ColumbineNatural disastersGl b l i h E i !Global warming – the Environment!Ubiquitous technologyUbiquitous diversityUbiquitous diversity

Gen Y (born 1981 - 2000)( )12

Y G ti Ch t i tiY Generation Characteristics

O ti i ti d fid tOptimistic and confidentProtected, shelteredA biti l /hi h t tiAmbitious goals/high expectationsTechnologically SavvyAccustomed to being part of decision making Accustomed to being part of decision making process

In their own words Gen Y are:In their own words, Gen Y are:

13

Gen Y: Family-Centric14

Gen Y: Family Centric

H li t P tHelicopter Parents

http://www.utexas.edu/features/2007/helicopter/graphics/helicopter1.jpg

15

Benefits….for the parentsp16

:…and parents of employees have unlimited space-available travel privileges on SkyWest's vast route system…”

http://www.skywest.com/careers/benefits_sum.php

Can your organization compete for Top Gen Y talent?talent?

17

Are you where they are? LiterallyyVirtually

Does your value proposition appeal to them?y p p pp

A Gen Y perspectiveabout NASA:

18 www.nasa.gov/pdf/214672main_KPainting-GenY_rev11.pdf

Do you know who this is?y

Sam PalmisanoCEO, IBM,

http://news.cnet.com/2300-1014_3-

6135108.html

Intuit’s Value PProposition

20

From: Intuit’s Employee Engagement Practices – A Brief Journeyline Defining and Measuring Employee Engagement: Old Wine in New Bottles?

Enterprise’s appeal to Gen YEnterprise s appeal to Gen Y21

From: Marston (2006) Recruiting

and Retention Trends. SHRM

Conference, Washington, DC

Appealing to ValuesAppealing to Values22

Relationship with the Organizationp g

T di i li L l h i i Traditionalist: Loyal to the organization

Boomer: Loyal to the teamBoomer: Loyal to the team

Gen X: Loyal to the manager

Gen Y: Loyal to colleagues

http://ngenperformance.com/briefing.php

Relationship with AuthorityRelationship with Authority

Traditionalist …….. “Tell me what I should do for you”

Boomer………….. “Let me show you what I can do for you”

Gen X “Tell me what you can do for me”Gen X …………… Tell me what you can do for me

Gen Y …………… “Show me what you can do for me…right now”

http://ngenperformance.com/briefing.php

Generation Clash Points25

C P ti 1. Career Perspective

2. Work-Life Balance

3. Performance Management & Feedback

Clash Point: Career Perspective26

T di i li “B ild l ”Traditionalist: “Build a legacy”

Boomer: “Build a stellar career”Boomer: Build a stellar career

Gen X: “Build a portable career”

Gen Y: “Build parallel careers”

Career Path for Gen Y: Providing job variety through lateral career movesProviding job variety through lateral career moves

27

50s 60s 70s

40s

30s30s

20s

Clash Point: Work Life Balance28

Boomer: “Work hard now so I can enjoy life later”Boomer: Work hard now so I can enjoy life laterGen X: “Give me balance, now, not when I’m sixty-five”Gen Y: “Work isn’t everything; I need flexibility so I Gen Y: Work isn t everything; I need flexibility so I

can balance all my activities”

Clash Point: Performance Management and FeedbackFeedback

29

Traditionalist: “No news is good news”Traditionalist: No news is good newsBoomer: “Feedback once a year,

with lots of documentation”with lots of documentationGen X: “Sorry to interrupt, but how

am I doing?”gGen Y: “Feedback whenever I want

it at the push of a button”p

Ideas for Attracting top Gen Y talentg p30

Understand your target employeesy g p yBe where they are Value proposition and brand that appeal to Gen YAffiliations with social causesA mission that resonates Address parents as a part of your strategy

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Ideas for Motivating Gen YIdeas for Motivating Gen Y31

JUST ASK THEMJUST ASK THEM

ENCOURAGE BOOMERS TO MENTOR GEN YENCOURAGE BOOMERS TO MENTOR GEN Y

CHALLENGE Ys TO ‘FIGURE IT OUT’

HARNESS THEIR E-COLLABORATION SKILLS

PROVIDE AVENUES FOR DEVELOPMENT

Ideas for Retaining your Gen Ysg y32

Career path alternatives emphasizing lateral movementFlexible work arrangementsFlexible work arrangementsFrequent, timely, useful feedbackCulture of respect across generations

Thank You!33

Thank You!

Michelle Marks, PhDAssociate Professor of ManagementAssociate Professor of ManagementGeorge Mason School of Business

k @ dmmarks@gmu.edu