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4/16/2016
© Copyright 2016 All rights reserved. 1
For More Information:
Tim Moore
Generational Insights
919.460.6909 Office
919.604.0221 Cell
www.generationalinsights.com
Website: www.timmoorespeaks.com
Twitter: http://twitter.com/timmoorecary
Facebook: https://www.facebook.com/exploringthegenerations
Linkedin: http://www.linkedin.com/in/timmoorespeaks
© Copyright 2016, Generational Insights – All Rights Reserved
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Woodworking Industry Conference
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Attracting and Retaining a New Generation of Employees
Tim Moore
Generational Insights
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By United States Army [Public domain], via Wikimedia Commons
By Icemanwcs (Own work) [CC BY-SA 3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons © Copyright 2016 All rights reserved.
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Employees
• Tend to want to work for and with people who they like. • Tend to want to work for and with people who they think are like
themselves.
Therefore
• For your new hires and employees to think that you two have things in common you must understand how they view the world.
• Generational perspective has a lot to do with how they view the world.
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Generations
Matures
71+
Baby Boomers
52 - 70
Gen X
36 - 51
Millennials
19 - 35
iGen/Gen Z
Birth - 18 Age
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Size of Generations in 2016 (U.S.)
Matures Baby Boomers Gen X Millennials iGen/Gen Z
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Percentages of Each Generations’ Workers
Matures 5%
Boomers 40%
Gen X 32%
Millennials 23%
Matures 1%
Boomers 22%
Gen X 20% Millennials 50%
Gen Z 7%
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A Few Things to Think About
75% Millennials by 2025
iGens will begin graduating college by 2020
Upside down hierarchies
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The Continuum
We, Us, Team Unit, Group, Company, Nation
I, Me, My Special, Unique,
Different
Born 1900 – 1964
Born 1965 – 2016
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In Affluent Societies Youth Are Raised To:
“You’re special, unique, and different from everyone else.”
“I hope you find a good job that makes you happy.”
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What’s Important to Matures & Boomers
History
Name recognition
Historical & Perceived
Quality
Tenure
Matures Baby Boomers Gen X Millennials iGen/Gen Z
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What’s Important to Gen X & Millennials
The individual, the ego
Impact on their lives
Being or becoming distinct
Being different
Matures Baby Boomers Gen X Millennials iGen/Gen Z
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Baby Boomers
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52 – 70 years old
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Baby Boomers: Then and Now
Physically in workplace
Making B to B decisions
Mentally planning retirement and encore careers
Organization leaders
Still here
Have to be here
Likely don’t want to be here
5 – 7 Years Ago Today
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52 - 70 years old
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Baby Boomers Are: Worker Bees
Consumers
Work long after they have to
Visible signs of success
“Workaholic”
55 Million job openings in US by 2020
Optimistic
Team players
Competitive Defined by their job
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52 - 70 years old
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About Baby Boomers
1 in 4
First turned 65 years old in 2011
10,000 will turn 65 every single day for next 13 years
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52 - 70 years old
Irene Ryan – Age 60 in 1962
Christie Brinkley – Age 60 in 2014
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Change the way we look at things, and the things we look at change.
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What Boomers Value from an Employer
•You’re working hard for them
•Offer visual signs of accomplishments
•Communicate using their level of technology
•Help them feel visionary
•Appeal to sense of nostalgia
•Help them remain young, fit, and active
Born 1946 - 1964
Leading and Managing Baby Boomers
• Boomers feel Leadership should clearly establish direction - Like meetings to discuss strategy and to catch-up with team members
• Baby Boomers feel leaders should focus on the big picture and then let followers work out details
• They are proving to be difficult mentors because they are workers, very competitive, not so good at sharing
Born 1946 - 1964
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Passing The Torch To Millennials
As Baby Boomers Retire, More And More Millennials Are Continuing To Enter The Workforce. Millennials Will Make up 50% Of The Workforce By 2020.
• 75% of Millennials want a Mentor
• 65% of Millennials Say They Have Sought out Mentor For Guidance
• 58% of Millennials Turn To Baby Boomers, Rather Than Gen X, For Professional Advice
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Born 1946 - 1964
Gen X
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36 – 51 years old
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Gen X: Then and Now
Screeners and gatekeepers for the marketplace
Started to eye management positions
The buyers
The dealmakers who do the negotiating
Not lived up to potential
Rough start , now in leadership
5 – 7 Years Ago Today
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36 - 51 years old
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Gen Xers Are: Most Misunderstood
Pessimistic Unfriendly
Entering prime earning years
“Skeptic”
Biggest online shoppers and bankers
Unhappy Cynical
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36 - 51 years old
Gen Xers Think and Feel
Suffocated by so many Boomers and Millennials
They’re hardworking and
dedicated (>50%)
Not yet recovered from financial crisis
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Born 1965 - 1980
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What Gen X Values from an Employer
• Independent work environment.
• Remote work location is good.
• Technology is important.
• “Live for today but prepare for tomorrow.”
• Have fun doing the job.
36 - 51 years old
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Leading and Managing Generation X
• Gen X not as personally engaging as other generations with staff
• Gen X tends to like leaders who lead from afar
• Gen X sees no value in weekly meetings – time is valuable, focused short meetings are better
• Theme for Gen X: Just Go Do it!
36 - 51 years old
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Millennials
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19 – 35 years old
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Millennials
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Millennials: Then and Now
Weren’t significant enough numbers
Didn’t warrant too much attention
85 million strong!
They’re everywhere, cannot be ignored
5 – 7 Years Ago Today
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19 - 35 years old
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Millennials Are Likely To:
Move away from home…
Marry…
Have children…
Get a mortgage…
…later
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19 - 35 years old
Millennials Are Likely To:
3000+/mo
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Millennial at 29 years old
Life stage
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19 - 35 years old
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Millennials Are: Networked
Expansive networks
Word of mouth Green / eco-
Info, info, info
“24 / 7”
Expect super-personalization
Very close to parents
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19 - 35 years old
What Millennials Value from an Employer
• Recognize individuality and uniqueness
• Leadership training & opportunities
• Social media is a must
• Be up front
• Immediate application / instant gratification
• Utilize technology
• Work / Life balance
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Born 1981 - 1997
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Leading and Managing Millennials
• Leadership should focus on setting broad and challenging targets, broken into short timelines for achievement.
• Millennials feel good leadership is creative and inclusive
• As they mature, older Millennials are turning out to be some of the best TEAM players
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Born 1981 - 1997
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recruit - manage - retain
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Businesses judged on:
‣ Quality of products & services
‣ Employee satisfaction
‣ Customer satisfaction
2016 Deloitte Millennial Survey © Copyright 2016 All rights reserved.
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Baby Boomers Gen X Millennials
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Core Values of Generations
Value Me & My Effort
• Teamwork
• Persistence
• Decisiveness
• Progress
• Tenacity
• Commitment
• Dependability
Baby Boomers
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Core Values of Generations Generation X
Respect Me & My Independence
• Independence
• Freedom
• Flexibility
• Individualism
• Organization
• Work / Life Balance
• Tolerance
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Core Values of Generations Millennials
Value Me and My Expertise
• Community • Originality • Empathy • Creativity • Achievement • Cooperation • Openness • Adventurousness
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Core Values of Generations
Value Me & My Effort
• Teamwork
• Persistence
• Decisiveness
• Progress
• Tenacity
• Commitment
• Dependability
Respect Me & My Independence
• Independence
• Freedom
• Flexibility
• Individualism
• Organization
• Work / Life Balance
• Tolerance
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Baby Boomers Generation X Millennials Value Me and My Expertise
• Community • Originality • Empathy • Creativity • Achievement • Cooperation • Openness • Adventurousness
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The Deloitte Millennial Survey 2016
Winning over the next generation of leaders
Businesses must adjust how they nurture loyalty among Millennials or risk losing a large percentage of their workforces.
Two-thirds of Millennials express a desire to leave their organizations by 2020.
The Deloitte Millennial Survey 2016
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To attract and retain talent your business needs to show Millennials that it is innovative and in tune with their world
view. It is clear that Millennials want to innovate and businesses should be listening. Fostering this culture will help
retain high preforming talent and drive growth.
“Millennials, in general, express little loyalty to their current employers and many are
planning near-term exits.”
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Millennials:
25% hoping for a new job this year.
44% within two years.
2/3 by 2020.
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Chief complaints about the
workplace:
1) Underutilized
2)Not being developed as
leaders
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•Business has “no ambition
beyond profit”
•Not what a business
should be focused on.
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Top "wants" in a job:
1. Pay & benefits
2. Work / Life balance
3. Leadership training &
opportunities
4. Flexible work / Flexible hours
5. Sense of meaning from work
6. Professional development
7. Work’s impact on society
8. Quality of product / services
9.Strong sense of purpose
10.International travel
11.Fast growing / dynamic
workplace / industry
12.Leading, admired
company
13.Current / latest
technology
14.Leader’s reputation
2016 Deloitte Millennial Survey
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<36 YRSOLD
Recruiting tips
• Optimistic, motivational mantras
• Focusing on what employees are allowed to do and should do, not what they are restricted from doing.
• The mantras beg questions from those on the outside.
• “What does that mean?” “What does that look like?”
• They’re perfect for social media exposure….
Fast is better than slow.
Do no harm, only good.
It’s best to do one thing really, really
well.
Create Fun and a Little Weirdness Do
More with Less
Be Passionate and Determined
Be Humble
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Recruiting - Gen X & Millennials
• Focus on what is coming for employees, not where you’ve come from.
• Bulleted list of what they’ll learn in the first week. Skills and attitudes that
can go with them throughout their life / career.
• How you teach and train: Classroom? One on one?
• Mentors? Manuals?
• Who trains?
• Workplace peers? Direct interaction with the managers?
<36 YRSOLD
High Gain “get to know you” questions
• What’s the biggest compliment you’ve ever
received? Tell me the story.
• Whose responsibility is it to keep you current
in the workplace?
• What’s your greatest accomplishment? Your greatest award?
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<36 YRSOLD
• Be careful what you say.
• Deliberately define how they’ll become successful:
“contribute, perform, produce, participate."
• You’re not a friend. You’re very interested in their success but you’re
not a friend.
• DON’T: “Welcome. I hope you’ll be happy here. If there’s anything I
can do for you please let me know.”
First Impressions on the Job
• First six weeks outlined day by day - what they’ll do, what they’ll learn, who they’ll learn it with.
• Highlight exposure opportunities to senior leadership.
• Mentors, buddies? Who and how selected?
• Group meetings - How often? Who leads? Topics? Who picks?
• How does learning happen? Classroom, online, etc.
<36 YRSOLD
Agendas, Syllabi, Itineraries
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<36 YRSOLD
Retaining Tips
• Having groups begin at the same time
creates loyalty and bonding amongst each new “herd”.
• Reinforce that you provide frequent feedback all along the
way to ensure they’re getting the attention they seek.
To create “buzz” for yourself:
• Feature your Millennial new-hires and interns.
• Show what they’re doing and how they’re influencing your company.
• Illustrate your leadership training and get them to comment
on it.
• Initiate mentor programs (those with mentors are more than 2x likely to stay 5+ yrs)
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iGen / Gen Z
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Birth - 18 years old
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iGen / Gen Z Estimates
17+ jobs
15+ different places
>50% college educated
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Birth - 18 years old
Top 4 Take Aways
Matures Baby
Boomers Gen X Millennials iGen/Gen Z
Talk about history, company, brand, & tenure
Talk about them, their future, their importance
Life stages will happen at older ages
One size does not fit all Deliberately define how new hires will become successful New hires first six weeks outlined day by day Provide mentors © Copyright 2016 All rights reserved.
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Are you attracting and retaining a new generation in the most effective way?
© Copyright 2016 All rights reserved.
For More Information:
Tim Moore
Generational Insights
919.460.6909 Office
919.604.0221 Cell
www.generationalinsights.com
Website: www.timmoorespeaks.com
Twitter: http://twitter.com/timmoorecary
Facebook: https://www.facebook.com/exploringthegenerations
Linkedin: http://www.linkedin.com/in/timmoorespeaks
© Copyright 2016, Generational Insights – All Rights Reserved