Modern Families, Modern Employers: New Research on Making Work Work

AGENDA

Results of the Modern Family Index

Tammy Erickson

Maryella Gockel, Americas FlexibilityLeader, Ernst & Young

Q&A

© 2014 BRIGHT HORIZONS FAMILY SOLUTIONSLLC

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SOLUTIONS AT WORK LIVEEVENTS SLIDE






TAMMY ERICKSON

Tamara J. Erickson is a McKinsey Award-winning author, a leading expert on generations inthe workplace, and a widely-respected expert on collaboration and innovation, the changingworkforce, and the nature of work in intelligent organizations. She has three-times beennamed one of the 50 most influential living management thinkers in the world by Thinkers50,the global ranking of business thinkers created by Des Dearlove and Stuart Crainer.

Tammy is the Founder and CEO of Tammy Erickson Associates, a firm dedicated to helpingclients build intelligent organizations and an Executive Fellow, Organisational Behaviour, atLondon Business School.


THE CURRENTLANDSCAPE

Today’s families’challenges are notthose of thepreviousgeneration’s.

Why?

Bright Horizons’ Modern Family Index findings areplaying out in real life in workplaces nationwide.

X’ERS: LESS LIKELY TO BEMARRIED THAN BOOMERS

0

10

20

30

40

50

60

70

80

90

Married, spouse present Unmarried, total

Women in 1975

Women in 2000

Men in 1975

Men in 2000

Pe

rce

nt

Source: “The Labor Force Experience of Women from ‘Generation X’,” Marisa DiNataleand Stephanie Boraas, Monthly Labor Review, Bureau of Labor Statistics, 2002

Marital Status of Women andMen Aged 25 to 34

12 | © 2014 Tammy Erickson Associates. All Rights Reserved.

MARRIED X’ERS: MORE LIKELY TO BEWORKING OUTSIDE THE HOME

0

20

40

60

80

100

120

Married, spouse present Unmarried, total

Women in 1975

Women in 2000

Men in 1975

Men in 2000

Pe

rce

nt


Labor Force Participation of Women andMen Aged 25 to 34 by Marital Status

X’ER MOMS: MORE LIKELY TO BE WORKING

OUTSIDE THE HOME THAN BOOMERS

0

10

20

30

40

50

60

70

80

90

100

Withchildrenunder 18

With nochildren

. . . Children 6-17

Childrenunder 6

Childrenunder 3

Women in 1975

Women in 2000


Labor Force Participation for Women Aged 25 to 34by the Presence of Children

THE GENERATIONAL CONTEXT


VIEWS ON PARENTING

Boomers: “I want to help mychild be successful – toprepare them to win.”

X’ers: “I want to be a ‘goodparent.’”

Y’s: “I want to make themost of every day.”


DIFFERENT VIEWS –DIFFERENT BEHAVIORS

Boomers: Hard work, longhours and sacrifice are awin-win – good for mycareer and good for mykids

X’ers: I need to evaluateevery new positionagainst the commitment Imade to myself before Ihad children – to makesure I can handle both


COGNITIVE MAPS BASED ON OURINTERPRETATION OF EVENTS

Sensorimotor stage (birth-2 years old)

– Concepts about how physical objects work based on directphysical interaction with the environment

Preoperational stage (ages 2-7)

– Intuitive intelligence related to concrete physical situations

Concrete operations (ages 7-11)

– Logical structures related to concrete objects or physicalexperiences (numbers, for example)

Formal operations (ages 11-15)– Conceptual reasoning and abstractions

– Mental models that will persist throughoutadulthood

Piaget’s FourDevelopmentalStages


• Anti-authoritarian and idealistic

• Protests: Vietnam, Civil Rights,women’s liberation

• Assassinations of Kennedy, King,and other idealistic leaders

• Competitive

• Lots of other Boomer teenagers!

• Somewhat unappreciative of the role ofparents

• As teens, in 1974, more than 40%said they'd be better off with NOparents!

BOOMERS:BORN 1946 TO 1960


• Self-reliant

• Latch-key kids – taking careof themselves

• Mistrustful of institutions

• Corporate layoffs

• Rising divorce rates

• As teens, more confidentthey’d see an UFO than aSocial Security check

• Thoughtful about the decision tobecome parents

• Determined to ‘be there’ fortheir children – to be differentthan their own parents were

GENERATION X:BORN 1961 - 1979


• Immediate and eager to live each day

• Terrorism: 9/11, World Trade Center,Oklahoma City

• School violence: Columbine

• Nothing to prove – taking the right to workfor granted

• Working mothers, female CEOs andheads of State

• Digital natives

• Family-centric

• Parents are “role models” and “heroes”

• As teens, 90% of Gen Y’s reportedbeing very close to their parents

GENERATION Y:BORN 1980 - 1995


UNDERLYING DRIVERS

The views expressed in the Modern FamilyIndex:

• Reflect logical, legitimate differences inviews on the family and on parenting

How can employers help to address theseunderlying drivers within their own corporatecultures?

POLL

In the coming year, does yourorganization plan to explore or engage inany of the following:

Child or elder care supports

Building a more supportive culture

Caregiver support programs

Financial well-being programs


Maryella GockelEY Americas Flexibility Leader

► Americas Talent Team

► Inclusiveness Center ofExcellence

Maryella is focused on embeddinga sustainable, inclusive and flexibleculture throughout the organizationto support all EY professionals,wherever they come from andwhatever their characteristics.

► Two children – James, 26, andAlexandra, 23.

EY member firms today

Revenues* US$25.8b (June 2013)

People 190,000

Locations 150+ countries, 700+ offices

Service lines Assurance, Advisory, TAS, Tax and CBS

* Represents last available financial information

Why we embrace flexible working at EY

► Greater collaboration

► Effective virtual teaming

► Faster response time

► Reduced travel costs

► Increased mobility

► Enhanced engagement

► Expected by all generations

► Enabled by technology

► More energized workforce

► Enhanced health and wellbeing

► Reduced space needs

► Global accessibility/connectivity

► More sustainable environment

► Increased support for communities

► Increased retention

Vision 2020 – We are committed to attractinggreat people and developing future leaders bybuilding and delivering the “workplace of thefuture” through effective technology,innovative space design and a more flexible,output-focused culture that empowers ourpeople to deliver exceptional client service.

All generations and genders need flexibility

► Gen X said they would be more likely to walk away fromtheir current job in the absence of day-to-day flexibility(38% vs. 33% of Gen Y and 25% of boomers).

► Gen X men (40%) were most likely to leave their currentjob if flexibility was not offered, followed by Gen X women(37%), Gen Y men (36%) and Gen Y women (30%).

Source: Younger managers rise in the ranks,EY study on generational shifts in the US workplace 2013.

Flexibility is a top driver of retention at EY

Retention is 6.1percentage points

higher in groups thatare in the top quartile

on our flexibilitymeasure at EY

compared to those inthe bottom quartile.

Feeling you can trust yourteam to deliver on

commitments

Feeling trusted by yourmanager to make the right

decisions

Other top drivers?

Engagement matters

► Through our own Business Linkage research, we knowthat at EY, engagement leads to better business results.

Supporting our working parents

Our great vendors support:

► Back-up care

► Accessible over the phone or online

► Childcare

► Self-directed, web-based search engine

► Child, adult, pet care, and house cleaning

► Lactation support

Firm support:

► Great expectations guide

► Today’s Families Networks

► $400 per year – for childcare during busy season or when workingadditional hours

► Career and Family Transitions coaching program

Taking vacations improves retention andperformance

► Vacation is a positive predictor of performance in the USand Canada, with more vacation hours taken in a prioryear being reflective of higher performance thefollowing year.

► Across nearly all countries in the Americas, vacation hourstaken had a positive correlation with length of service.

Source: Career Value Study,EY study on the value of a career at the firm and what client-servingprofessionals want from their time with EY, 2013.

EY Global CEO speaks at the White HouseSummit for Working Families, June 2014

The New Dad: Take Your Leave2014 survey

EY Americas Flexibility Leader testifies onpaid parental leave, July 2014

EY mom discusses paid maternity leave27 September 2013

http://www.today.com/video/today/53121832

Flexibility slipsheets

16 Years on the FORTUNE 100 BestCompanies to Work For® list and …

EY | Assurance | Tax | Transactions | Advisory

About EYEY is a global leader in assurance, tax, transaction andadvisory services. The insights and quality services wedeliver help build trust and confidence in the capitalmarkets and in economies the world over. We developoutstanding leaders who team to deliver on ourpromises to all of our stakeholders. In so doing, we playa critical role in building a better working world for ourpeople, for our clients and for our communities.

EY refers to the global organization, and may refer toone or more, of the member firms of Ernst & YoungGlobal Limited, each of which is a separate legal entity.Ernst & Young Global Limited, a UK company limited byguarantee, does not provide services to clients. For moreinformation about our organization, please visit ey.com.

Ernst & Young LLP is a client-serving member firm ofErnst & Young Global Limited operating in the US.

© 2014 Ernst & Young LLP.All Rights Reserved.

1409-1317484ED None

This material has been prepared for general informational purposesonly and is not intended to be relied upon as accounting, tax, or otherprofessional advice. Please refer to your advisors for specific advice.

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Modern Families, Modern Employers: New Research on Making Work Work