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Updated presentation on how to transfer expertise from current boomer leaders to future leaders by creating a boomer leader legacy.
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Today (%)
Traditional-ists Boomers
Gen XGen Y
05
10152025303540
5
40
2530
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2020 (%)
Tradi-tionalists Boomers Gen X Gen Y Gen Z
0
10
20
30
40
50
1
2220
50
7
3
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So - the Challenge?
Expertise and knowledge drain as boomers exit from the workforce.
Which expertise and knowledge is critical and important to retain?
Which expertise and knowledge is not required for future leaders in these roles?
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And - The Solution?
Keep the expertise by transferring the knowledge and skills.
Human Resources takes a leadership role in addressing the pending expertise gap by creating a culture and environment that guarantees leadership continuity planning.
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The Boomer Leader Legacy(a demographic gift)
• Boomer Leaders accountable
• Critical roles and skills surfaced and documented.
• Risk assessment
• Measures of success (ROI)
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How Do You Start?
First - Educate Yourself
1. Conduct researchGain a sound understanding of the generations in your workplace
2. Evaluate the differences and similarities3. Develop an appreciation for both –
Become knowledgeable
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Differences Influences & Styles
Traditionalists Boomer Gen X Gen Y
Defined by WWII Born into an abundant, healthy economy
‘Latchkey kids & kids of divorce – shadow of boomers
Empowerment years – everyone is rewarded
Loyal, dependable, work toward a common goal
EgocentricWork defines self worth & others
Independence, resilience, adaptability
Make own choices, question authority
Live to work Live to work Work to live Balance
Dependable, believe in sacrificing for others
Expect others to have the same work ethic & work the same hours
View world with some cynicism and distrust
Everyone should get more from their employers 8
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DifferencesExpectations of Work
Traditionalists Boomer Gen X Gen Y
Loyal, respect authority
Competitive Self-reliance Everyone is equal
Focused on common goals
Optimistic, team-oriented
Sceptical, career-oriented
Self importance, loyalty to colleagues
Focused on performing
Results focus Results focus with fun
Hard work & career aspirations
Compensated for doing job
Reward for results Reward for outcomes
Seek rapid success
Put aside their own needs for company. Job security
Seek promotion & career growth – job security
Achieve work/life balance
Sense of community, work is part of life continuum
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Differences Communication Preferences
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I was visiting my son-in-law and daughter last night when I asked them if I could borrow a newspaper.
“This is the 21st century, old man,” he said. “We don’t waste money on newspapers. Here, you can borrow my iPad.”
I can tell you, that fly never knew what hit it…
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Learning Styles
Digital Immigrants Digital Natives
Linear acquisition of information Nonlinear (hyperlinked) logic of learning
Focused mainly on facts and knowledge acquisition
Focused more on learning how to learn
Guided learning Autonomous learning
Learning in specified time periods Learning 24/7
Face-to-face learning Interactive virtual learning
Learning as duty Learning as fun
Rote learning Analogical learning
11*Conference Board of Canada, Bridging the Gaps.
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Second – Create Your Strategy
• What knowledge and expertise needs to be transferred?
• What process is best suited to learning styles of intended
future leaders?
• Which knowledge transfer methodologies should be
applied?
• What is the timing? 12
‘’An effective LDL program needs structure to give it some intentionality.” Human Capital Institute, 2010
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What is the cost of ‘lost knowledge’?
Prepare a risk assessment
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Third- Build the BLL Process1. Establish your cross functional team –
include future leaders2. Evaluate current and future requirements3. Select knowledge transfer methodologies 4. Build the project plan5. Measures of success (ROI)6. Implement with current and future leaders7. Evaluate8. Reward and recognize
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The BLL Process -First Steps
1. Review your employee population 2. Conduct your critical skills assessment3. Establish your team.
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Start your planning process NOW!
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This is your ‘Demographic gift’ -
OPEN IT!
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