The Millennials are Coming: Preparing for the Cogenerational Workplace

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The Millennials Are Coming!

Making Sense of the Cogenerational

Workplace™

PRESENTATION TO

PARADISE FOODS

MANAGEMENT GROUP

December 7, 2011

Jim Finkelstein

President and CEO

FutureSense, Inc.

www.fusethebook.com

www.futuresense.com

You have exactly 1586

cows and calves!

1. You showed up here even though nobody called you…

2. You want to get paid for an answer I already knew…

3. To a question I never asked…

4. And, you don’t know anything about my business!

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Millennials in Boomer Clothing

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A Millennial in Boomer Clothing

Entrepreneur and Business Owner, FutureSense, Inc.

Partner – Arthur Andersen CEO of wholly owned subsidiary of

publicly traded company - Willis Corroon

Corporate executive, Pepsi-Cola, American Can, Emery Air

Investor, LinkedIn and RockTech Domain expert, Callidus Software Former Board member, Enwisen Board member, numerous non-profits

for 35 years Author and movie and record

executive producer Soccer referee and former coach Husband and dad

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Culture and the Workplace

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www.abraham-maslow.com

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www.spiraldynamics.netValue Systems

Basic Description

Cultural Manifestations

Turquoise Holistic/Whole View

Collective individualism, cosmic spirituality

Yellow Integrative/Ecological

Natural systems, knowledge-based

Green Consensus/Bonding

Egalitarian, humanistic, authentic, caring sharing

Orange Strategic/Autonomy

Materialism, consumerism, success, image, status, growth

Blue Authority/Rules Meaning, discipline, traditions, morality

Red Egocentric/Conquest

Dominance & control

Purple Mythical/Tribal Rites, rituals, taboos, superstitions,

folk ways & lore

Beige Instinctive Basic survival

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Cultural DNA Crosses All Demographics…

Gender Age Ethnicity Income Political Orientation







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The Cogenerational Workforce

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The Cogenerational Workforce

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Multi-Generational View of Millennials

• Generation Y• iGeneration• Digital Natives• Generation Why• Generation

Whiner• ADHD Generation• Adultolescents

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Multi-Generational View of Boomers

Generation Me Hippies Love Generation Self-absorbed

Generation Largest and richest

generation Pig in the Python

Generation

“As a group, Boomers are self-conscious, reflective and judgmental. We are the ‘me’ generation. You are the ‘why?’ generations.” -- G.L. Hoffman, CEO and Chairman of JobDig

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• Work Centric• Independent

• Goal Oriented • Competitive

• Individualistic• Easily Adapts to

Technology• Flexible

• Values Work/Life Balance

• Family Centric• Tech Savvy

• Achievement Oriented

• Team Oriented• Attention Craving

Baby Boomers Generation X Millennials

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Cogenerational Workplace Drivers: The Mash-up

ECON 101

LIVING LONGER

BIRTH RATES

SPIRITMIND BODY

CONNECTTO THE WORLD

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The Cogenerational Brave New World: A Political-Economic-Sociological View

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Impact: United Voting BlockNeeds Wants Values Characteristics

Millennials Jobs Flexible work environment

Work/life balance and survival

Boomeranging back in with Mom and Dad

GenXers Jobs To get back on the upward ladder

Work/life balance and money

Boomeranging back in with friends and family

Boomers Jobs To retire (for a while - tired)


Boomeranging back in with kids?

Seniors Jobs To re-retire (not enough money)


Taking them all in at the retirement community

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Impact: War of the Generations

Gridlock Not enough

jobs to go around Underemployed New job search

tools Interview

competition

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Impact: Boomerang Effect Multi-generational households grew by

2.6M between 2007 and 2008 (Pew Research)

40% of 2008 graduates and 42% of 2006 graduates live with their parents

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Implications of the New Cogenerational Workplace for Millennials, Boomers and Employers:Opportunities and Fusions

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Implications For Millennials Managing Mom and

Dad Accepting Feedback Appropriate

Communication Multiple Bosses

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Implications for Boomers

Become Tech Savvy Embrace Benefits of Social Media Let go of Stereotypes

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Implications: For Employers

Buyers MarketHigh Cost of

Millennial TurnoverMulti-channel

CommunicationBuild Strong

Employer BrandsPersonalize Benefit

ChoicesReexamine your

People Practices

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Why it Matters: EngagementLow Engagement

Operating income declined 32.7% (Towers Watson)

62% more accidents with scores in lower quartile. (Gallup)

High Engagement

More productive, profitable, safer, healthier, and 87% less likely to leave their employer. (Corporate Leadership Council & Fleming & Apslund)

19.2% improvement in operating income (Towers Watson)

EPS growth rate of 89 organizations with engagement scores in the top quartile was 2.6 times that of organizations with below average scores. (Gallup)

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Your People Practices:Dealing with Millennials!

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Employee Lifecycle Touch Points 6 Phases

AttractingAcclimatingRetainingInspiringFulfillingTransitioning

2 Overarching ConstructsSocial

NetworkingEmployee

Engagement

11 Segments – What about those Millennials?

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Attracting Demand Creation

What’s the social media buzz about your organization?

Does your website wow?

Does anyone manage your employer brand?

What’s your organization’s higher purpose?

Don’t be an ostrich. Monitor Glassdoor.com, employeedirt.com

Entice me and let me interact

Pictures compel, so does a higher purpose

Product brands aren’t enough – what’s the employee brand

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Attracting (Cont.)

RecruitingWhere will

Millennials find you?

Are you masterminding first impressions?

How fast can you hire?

Do your want ads lie?

Need to be everywhere – Monster, Twitter, Facebook, LinkedIn, etc

Connect them to great coworkers, introduce benefits early in the hiring process

Rework your processes 1 week is ideal

Match ad to job description, align interviewers and ensure the work experience is as promised

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Attracting (Cont.)Be Impressive First line of the job posting has to

convey the organization’s purpose Fast, easy job search functionality Position match notification Video to tell your company story No “motherhood and apple pie” values Corporate social responsibility counts

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Acclimating Onboarding

Do you delight on day one?

What has to happen in the first 100 days?

How does a new hire get smart about your brand and culture?

Is it time to lose your old school social media access policies?

Manager hosts and makes introductions

Map out the experience employees have in their first 100 days

Have your CEO teach the culture and company story

Get tech tools in their hands day one

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Acclimating (Cont):Millennial Work Wish List

Findings from Cisco Connected World Technology Report Accommodates social media Gives device freedom Supports remote working to accommodate their lifestyle Allows flexibility to explore and innovate

1 in 3 college students would prioritize social media & flexibility over salary when accepting a job

More than half of young professionals would rather lose their wallet before losing their Smartphone

2 in 5 young employees would accept a lower-paying job for more social media flexibility & work mobility

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Acclimating (Cont)

SupervisionAre managers

harboring generational bias?

What can you learn from your Millennials?

Do your managers stay connected and get their message heard?

Assess the attitudes of your people managers

Institute reverse mentoring between millennials and boomers

Make sure managers use a mix of the latest communication channels- blogs, video, etc to get their message heard…more pictures, less words – be human and authentic

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Acclimating:Blogs Extol Reverse Mentoring Cisco Blog The Results:

How Reverse Mentoring Can Enhance Diversity and Inclusion Laura Earle October 11, 2011 at 7:59

am PST

Benefits Shared Learning Honesty/Respect Relationship Continuation

Jack Welch ordered GE’s top 600 managers to reach down into their ranks for Internet junkies and become their students. Source: Forbes

Blog Reverse Mentoring is All About Screwing in the Lightbulb before Flipping the Switch

May 12, 2010

Shala Byers is the creator of Booz Allen’s Reverse Mentoring Program for 20,000 employees

Reverse Mentoring led to : Brainstorming Sessions Enhanced Client Offerings

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Acclimating:Advice From Cisco

Top 5 Areas to Mentor 1.) Communication and style 2.) Cultural knowledge 3.) How to be a better leader 4.) Relationship with team 5.) Change management Other topics: work-life balance, how to juggle a

family and a career and how a senior woman is perceived in a circle of senior men

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Acclimating:Get with the Program! “The future of business is social.“We have

to stop thinking about our companies as a corporate ladder. It doesn’t resonate with me, it doesn’t resonate with my peers. If we want to be an organization that really embraces change and adopts and is innovative, we need to think faster, smarter, social.”

Alexa Scordato

Community manager at 2tor, an education technology startup

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Retaining Compensation and

BenefitsDo you pay for

performance, potential, both?

How much employee choice is built in to your benefits?

How do you use base and incentives?

Bring people in at the right salary

Let employees choose benefits that fit their priorities

Be clear about your comp philosophy – and why it is competitive

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Retaining (Cont) Learning and Career

DevelopmentHow often are people

moved to different jobs?

What does it take to get promoted?

Is training interactive and online?

Do you do strategic workforce planning?

Millennials will want to move every 18 months

Tie promotions to tangibles so the process feels equitable

Offer interactive online training as a learning option

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Inspiring

Reward and RecognitionDo pennies rain

down on desks? Is recognition

having an impact?Variety is the spice

of recognitionDo your managers

deliver?

Find small ways to shower people with recognition

Make recognition timely and personalized

Look at non-traditional, free forms of recognition – the ability to choose your next assignment, seeking input on a decision, other ways to show people they are valued

Inspiring (cont): Recognition and Organizational Health

“Senior management’s ability to demonstrate genuine interest in employees is the top engagement driver globally.”

“Strong manager performance in recognizing employee performance increases engagement by 60%.” Towers Perrin Study

Higher engagement levels produced shareholder returns 9.3% higher than the returns for the S&P 500 from 2002-2006

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Inspiring (Cont).Recognition

Challenging Assignment Choice of new Assignment Day off of Work Consult my Expertise Request my Input on

Decisions Trust my Intentions Hear kudos from my

Manager, in addition to Team leader

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Inspiring (Cont)

Performance ManagementDo you offer 30

day reviews?Do you have a

culture of ongoing feedback?

Do reviews play into promotion decisions?

Inspiring (Cont)The Feedback Planner

1. Describe Current Behaviors 4. Identify Alternative Behaviors

Describe current behaviors that you want to reinforce (praise) or redirect (criticism) to improve a situation.*Be Specific With Behaviors*Be Descriptive*Be Brief*Be Available And Open*Be Patient*Be Prompt*Be Sensitive To Time And PlaceBox 1 of the Feedback Planner provides the foundation for a mutually agreed upon and understood perspective of the current behavior.

Identify alternative behaviors and actions for you, the employee, and others to take to improve a situation.*Be Encouraging And Offer Ideas*Be Creative With Options*Be Part Of The Plan*Be OptimisticBox 4 is where problems with undesirable behavior (being criticized) are creatively solved, and benefits with desirable behavior (being praised) are reinforced and capitalized on.

2. Identify Situations 3. Describe Impacts and Consequences

*Be Factual With Examples•Box 2 confines the current behavior to a time and place.

*Be Precise And Selective*Be Objective*Be SupportiveBox 3 spurs behavior change – it justifies and sells the need for change.

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Fulfilling Social

ResponsibilityNeed help going

green?Do you give paid

time off to volunteer?What causes do you

support through formal programs?

Do you sustain programs during good times and bad?

Millennials want to make the world a better place – give them time to do that

Community support is an ideal avenue to bring Millennials and Boomers together

What you support during hard times speaks volumes

Most Millennials want a hand in green initiatives – give them one if you can

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Fulfilling (Cont):Employee Volunteerism Trends

1/3 of US Corporations have some form of Employee Volunteer Program (EVP)

Two models: Employer-initiated Employee-led, Most companies have

both types. Community action

days are most popular.

What is your organization doing?

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Fulfilling (Cont):Dollars for Doers

Company Grant Amounts

Adobe Systems $125 for every 10 hours

Amgen $500 for every 15 hours

Bank of America $250 for 50 hours; $500 for 100 hours

Gap $100 for every 10 hours

GlaxoSmithKline $500 for at least 50 hours

Google $50 for every 5 hours

Johnson & Johnson $250 for at least 40 hours

Merck $400 for at least 40 hours

Microsoft $17 per hour

Novartis $250 for at least 40 hours

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Fulfilling (Cont) Work/Life Balance

What’s your organization’s philosophy on work/life balance?

Can people flex their schedules?

Do you help people manage stress?

Are managers trained to support work/life balance?

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Transitioning

TerminationHow do you

handle force reductions?

How do you preserve tribal knowledge?

What will employees say after they leave?

Cisco Systems – “Typical huge company” “Company is losing full time employees rather quickly. The good employees are leaving to take better offers, and the bad ones are sticking around. People who left were offered 20% more to work elsewhere. Lost positions are typically not being backfilled. I have no visibility with my current manager now, which will greatly stunt my career growth. There are no plans to have a US manager.” Glassdoor.com

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The Payoff

Cogenerate

more inspiration,

productivity,

satisfaction and

engagement

in the workplace.

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Your turn

What other challenges are you facing working with Millennials?

How is Paradise Foods capitalizing on the power of the new Cogenerational Workplace?

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www.fusethebook.com

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Thank you!

www.futuresense.com

Jim Finkelstein

[email protected]

415-453-1514 office

415-302-5805 cell

www.fusethebook.com