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© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. May 1, 2001 215-283-9322
Transitioning Leadership
Boomers to Millennials
PA Association of Mutual Insurance Companies (PAMIC)Harrisburg, PA
November 12, 2015
Gilbert L. Hoffer, Ph.D.President
PsyCor, Inc.
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • PAMIC • Harrisburg, PA • November 12, 2015
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
Psychometric Research Reveals
– More psychological variance within than across generations
– Generation differences that do make a difference are created by context
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
Engagement Is Key70% of employees
Not fully engaged or actively disengaged from their jobs
Keys to improving the engagement of Millennials
Engaging WorkplaceConduct annual surveys, listen to feedback, identify engagement drivers
Purposeful WorkHelp employees understand the importance of their work in relation to the
company’s overall mission
Giving BackOrganize volunteer projects and reward employees for their charity
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
Discovering and Developing Leaders
Discovering and developing the next generation of leaders requires:
Finding and pursuing common ground
Respecting and leveraging differences
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
Discovering and Developing Leaders
?
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
What Makes A Leader?
FOLLOWERS
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
We Recognize Superior Leaders
Not for who they are
Not for what they do
But for the consequences of their influence
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
Superior Leaders
Make a Real Difference
In Thought
In Action
Leadership Matters
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
Universal Leadership Competencies
The two most important
at any level
From Team Leader to Board Chair
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
Universal Leadership Competencies
Intellectual InquisitivenessThe best leaders focus on what they don’t know
[to better leverage what they know]
Personal AdaptabilityThe best leaders focus on being/doing what others need from them
[not on being/doing what they prefer]
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
When Is Leadership Required?
When more than one person is needed to get something done
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
What Are The Essential Elements Of Leadership?
Setting DIRECTION
Gaining ALIGNMENT
Building COMMITMENT
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
Colleague Discussiojn
1. Think of a leadership example ofa success or failure
2. Discuss how each of these elements contributed to the outcome
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
Current Leaders Should Scan Their Talent Pool
For Those Who DemonstrateSignificant and relevant intellectual curiosity
Capacity to adapt to what others need from them
For those Proactively Engaged inProviding Direction
Gaining Alignment Building Commitment
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
Respecting and Leveraging Differences
Boomers: Born 1945-1964 (ages 51-70)Career path, goal setting paradigm
Age + Time + Experience = Status and SalaryMaking mistakes kills careers
Gen X: Born 1965-1979 (ages 36-50) Organizational loyalty was no longer rewarded
Leaders failed their parents —too many layoffs with “restructuring”First generation not expecting to be as well off as their parents
First generation not expecting to be as well off as their parents
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
Respecting and Leveraging Differences
Millennials: Born 1980-2000 (ages 15-35)Career path paradigm
Latest skills = Status (get good at what you do)Making mistakes can be an efficient way to learn
Skill set determines where you are in the organizationLeadership is rotationalCorner office is not appealing
Happy sitting the corner coffeeshop with their laptop, tablet or smartphone — staying connected and current
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
Contributors to the Millennial Psyche
Influenced byMovies Interactive Video Games
What they learnedYouth can successfully battle adultsDon’t read directionsLook for rules and politics intuitivelyRisk and failure are fast ways to learnHow you learn is more valuable than what you learnMulti-player, multi –level, team-playing
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
What Milennials Learned - Continued
As you go through the gameLeadership roles rotate No one is an authority roleSuccess depends on peer-to-peer speedSpeed is paramount to learning
Developed a JIT mentalityBe ready to discard what you have learned because
it may not be helpful at the next level
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
Boomer Toys And Games Were Linear
What they learnedFollow directions carefully toComplete increasingly more complex chanllenges
Erector sets, chemistry sets, cooking sets, etc.
Errors needed to be avoidedThey lead to costly delays
Broken toys or lower competitive status
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
New World for Boomer Parents
• Children had become economic liabilities — no longer assets• Appliances made housework less time consuming• Small children no longer safely tucked into cribs until old enough to
begin to help — there help was no longer needed• Why have them?
– Genetic drive to perpetuate the species needed a new “motive”– Child value became emotional reward for the adults
• Women no longer Housewives– Stay at Home Moms (Dads)– Helicopter parents begin to appear
• Dad’s became more engaged in child rearing• Video games — More complelling than outdoor play
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
Child Centered Parenting
ParentsWere encouraged to treat kids as equals
Rather than prepare children to enter the adult world Parents were finding ways to enter the child’s world
No longer authority figures to be obeyedThey became “peers”
Conversations changed Children have a voice in family affairs — without
earning it
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
Child Centered Teaching
TeachersAddressed by first nameGave children more personal choices
How and what would be studied
Self esteem paramount Effort valued more than performanceLess right and wrong grading
More collaborative, team-based projects
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
Information & Authority — Boomers Vs Millennials
BoomersAsk themselves: “What do I need to know?”Listen to authority figures
Learn what they are told to learnRespect the chain of command and win them over
MillennialsAsk themselves: “How can I find out what I need to
know when I need to know it?”
Evaluate their leadersHow relevant, current and useable is their
knowledge?
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
Rank order of Work Factors: Millennials vs Bosses
Important Things to Millennials in Rank Order
What Millennials Want What their Bosses Believe Millennials Want
Meaningful Work 30% High Pay 48%
High Pay 27% High Level of Responsibility 12%
Sense of Accomplishment 24% Meaningful Work 11%
High Level of Responsibility 3% Sense of Accomplishment 11%
Total Percentage Accounted for 84% 82%
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
Employee Benefits Desired By Millennials
Benefits most valued by employees
Training and Development 22%
Flexible Working Hours 19%
Cash Bonuses 14%
Remaining 12 benefits 1 - 8%
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
Future Leader Dialogue And Development Process
Stop , Look and Listen
Conduct a series of learning exchangesOpen to anyone interested in joining the conversation
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
Future Leader Dialogue And Development Process
Questions to consider — Individual Perspectives
1. What makes you think that this firm may or may not experience successful leadership succession?
2. What needs to happen for current leadership to move forward with transition planning/execution?
3. What would it take for the younger colleagues to give serious consideration to preparing for a leadership role in the organization?
4. What could increase your interest in playing an important roll in the future of this firm
5. What changes in leadership expectations may be needed for the next generation of leaders to come forward? (personal, social, community)
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
Future Leader Dialogue And Development Process
Individual Perspectives – Continued
6. What could help this happen?7. What obstacle if any may keep this from happening?8. What would you like to see be taken into account
when deciding who should become a member of the leadership team?
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
Future Leader Dialogue And Development Process
Questions to consider — Strategic Business Issues
1. What increases or decreases your confidence in the economic sustainability or growth of the firm
2. What surprising or disruptive developments are occurring in our industry
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
Intergenerational Actions
• Mutual mentorship — formal and/or informal methods to encourage mutual sharing and learning of knowledge, skills and contextual factors
• Facilitated experiential workshops– Such as “Cracking the Millennial Code: Understanding
the Behavioral Communication Styles of each Generation
• by Brad Szollose, author of Liquid Leadership: From Woodstock to Wikipedia
Contact info: [email protected]
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
Concluding Observations
• No generation has developed a better grasp of reality than another — experience accumulates to form a world view that fits the context that surrounds it
• The “coming transfer of leadership” in the US has begun and will take about two decades to complete — followed by the next generation transition
• Generational contrasts and gaps can be difficult to navigate due to the increasing complexity and the speed of change
• The millennial psyche is better prepared to more flexibly adapt to the rapidly developing challenges before them
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
Concluding Observations
• To thrive or perhaps just survive present leadership needs to: – Require senior leaders to create safety nets that support younger
professionals/emerging leaders whenthey challenge the status quo by identifying issues and suggest solutions to address them
– Place a value on rapid and shared learning from mistakes rather than demand error-free plans or solutions
– Encouraging support younger professionals/emerging leaders to proactively reduce their information gap by seeking out and listening carefully to the lessons learned by experienced colleagues who have survived previous mistakes and “lived” to tell the story, regardless of the their current role
© Gilbert L. Hoffer, Ph.D., PsyCor, Inc. • Blue Bell, PA • November 12, 2015
Thank You
It has been a pleasure
Gilbert L. Hoffer, Ph.D.President
PsyCor, Inc.
215-283-2596 [email protected]