talent and the generations
TRANSCRIPT
Michael Jenkins and Alex Swarbrick Roffey Park Institute
Talent and the Generations
Talent Webinar
Welcome to the Roffey Park Talent and the Generations Webinar
Michael Jenkins Chief Executive
Alex Swarbrick Senior Consultant
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Roadmap for today’s webinar
Getting on the same page about the generations
The generations at work around the world
Sourcing talent
Retaining talent
Developing talent
Taking action
Questions
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Data sources for the webinar
Roffey Park research including focus groups
Research by generational specialists around the world
Global information from HR directors and programme participants – UK, China, Japan, Singapore, Europe (western, central and eastern), the United States and Africa
Gen Y interviews with youngsters in the UK and Singapore
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Intergenerational issues – media hype?
Clear strategic issues for organisations across the world
Talent
– Sourcing
– Retention - expectations differ
– Development into the future (10-15 years out)
– Generational expectations and development strategies for HR
Yes, but …
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*sub-division suggested in the Knoll report 2010: Generational Preferences
The Generations Traditionals/Silents born 1909 -1945 Boomers
Traditional Boomers Generation Jones
born 1946 -1964
(1946-1954)* (1955-1964)*
Generation X born 1965 – 1979 Generation Y born 1980 – 1999 Linksters/Millenials born after 2000
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Impact of differences at work
How do generational differences play out at work?
How will we source talent from different generations?
How do we retain talent across the generations, given their different expectations of the workplace?
What can organisations do to meet the development needs of talent into the future?
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Impact of differences at work
Generational differences impact working styles and the psychological contract
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Working styles
Generation Working style Traditionals Directive, simple, clear
Boomers Hierarchical, collective mindset, sharing wisdom, conservative, measured
Xers Fair, competent, straightforward, collaborative, experimental within boundaries, reluctant respect for authority
Gen Y Challenging of authority, innovative, individualistic, fast-paced, short-term focus, ambitious, narcissistic
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Psychological contract
Factor Boomers Gen X Gen Y Decision making Cautious
Authority vested in hierarchy Less risk averse “I’ll express my view” Authority vested in competence
Development Privilege Didactic style
Expected Organisation focus
Expected Personal focus Experimental style
Career Progress with seniority
Progress with capability
Progress against “my plan”
Engagement Loyalty to organisation Engagement earned by organisation Need purpose and opportunities
Leadership © Roffey Park 2012
Visionary Authoritative Measured
Inspiring Pace-setting
Trusted, Pace-setting, Charismatic, Driven, Decisive, Coach
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A global phenomenon ?
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Key points from the Shanghai General Motors sample – Gen Y on Gen Y
Enhancing personal expertise and realising one’s own self-worth (45%)
Linking closely promotion, pay rise and organisational growth (22%)
New challenges, continuous improvement (15%)
Taking on responsibility to work towards shaping the organisation’s future (14%)
Managing work-life balance (7%)
Generation 80/90 – even though they love money and love their freedom, they love their future even more!
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How will we source talent from different generations?
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What attracts Boomers?
Salary
Title
Status
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What attracts Gen X?
Entire package – not just money
– Time off
– Growth and development opportunities
– Work-life balance/family priorities
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What attracts Gen Y?
They won’t settle for any job, or any package
– Friendships
– Making a valued contribution
– Meaningful, challenging work – not mundane
– Development prospects
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What matters to me
Family
Friends
Making a difference
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Talent Dilemmas
For the few or the many?
Transparent or secret?
Self-nominated or manager-nominated?
Individually tailored or generic?
Self-managed or organisation-managed?
Overlaid by generational considerations
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Retention - Boomers
Like being respected, especially for demonstrating their competence, and for experience
Career advancement doesn’t have to be linear and vertical
– Sideways moves, and challenging projects can also be attractive
Flexible working arrangements
– Sandwich generation; supporting both ‘boomerangers’ and aging parents
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Retention – Gen X
A good boss
– Approachable
– Listens to their needs
– Integrity
– Gives feedback & encourages development
Gen X will work diligently for a boss they respect
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Retention – Gen Y
Value given to their ideas
Opportunities to develop their skills
– Coaching and mentoring
Want responsibility
Flexibility
– Work isn’t the only thing in their life
Recognition – even for their potential
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Shanghai General Motors HR view on Gen Y
A. Like being respected
B. Leaders need to be trusted and charismatic
C. Like learning, exploring meaningful jobs
D. Promote open communication and get timely feedback and approval
E. Like autonomy, flexibility and interesting working environment
F. Look forward to mentorship and coaching developments (career development)
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Implications for developing Gen Y talent
Visionary and engaging leadership
Coaching skills
Followership and managing upwards
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What’s expected from Leaders
An interest in people
Able to listen to other people and their views
Direction (alongside me)
Inspiration
Great facilitation and communication skills
Decisiveness and control
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Implications for leadership development
Moral dimension of leadership
Self awareness
Coaching behaviour change
Respect, value and inclusion
Leaders who develop leaders
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The next generation
Narcissistic
Unique
Highly intelligent
If I ruled the world …
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Productive “narcissists”- just what we need?
Bring passion
Challenge the status quo
Dare to break new ground
Boldly innovate
Provide vision
Inspire others
Drive organisations in new directions
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East-West similarities and differences: Narcissism in China too?
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Characteristics of the 80/90s (Gen Y) in China – a shared understanding by those working with the 80s/90s
Positives: Independence, strives for success, individuality, full of ideas, jubilant, full of vigour, expressing individuality, innovative, willing to take responsibility for their actions, fervour
Negatives: Misanthropic (lacking in emotional intelligence – EQ), rebellious, puzzled/impetuous, frivolous/irritable, demonstrates helplessness, is a slave to housing/loan issues, wilful, (complains about a) perceived lack of opportunity (triggers job-hopping)
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Positive attributes of your generation
Technological awareness/communication
Creativity
Acceptance/embracing diversity
Community (on-line)
Close as a generation
Driven to succeed
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Negative attributes of your generation
A degree of arrogance
Indecisiveness
Being easily distracted
Impatient
Concern with weight and fashion
Materialistic
Technology (double-edged sword)
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Changing and adapting policies – examples from global organisations
An American IT company launching a diversity and inclusion programme (which includes generational diversity) and then pushing it out globally using new technology
A global financial services sector company which uses “high touch” contact through social chat rooms and information sessions
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Changing and adapting policies – examples from global organisations
An international bank that advertises employment benefits to older workforce stakeholders (like parents!) – relatively “low-tech”
A Chinese company taking the initiative to examine generational differences and adjust or refine its HR strategy accordingly
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Actions to consider
Have I undertaken a generational audit?
Have I thought about the overall psychological contract from a generational perspective?
Do I involve followers from across the generations in designing development initiatives?
Do I look for opportunities for cross-generational learning?
Am I supporting Gen Y’s first steps as managers?
Have I ensured that our leaders are generationally in tune with their followers?
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Time for discussion and questions
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Thank you to the students from Tanbridge House School and
Christ’s Hospital School as well as volunteers from the Halogen Foundation, Singapore
Alex Godsmark Olivia Hardy Bethany Dickson-Cave
Tof Odusolu Gus Streeting YunQing Alex Bland YenSiu Tash King
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For more information on Roffey Park contact
Melissa Green Marketing & Business Development Manager
+44 (0)293 851644
+44 (0)7825 616281