HOW GEN-Y & BOOMERS WILL RESHAPE YOUR AGENDA

Subject: Organizational Behavior

By: Group-I

135) Piyush Malhotra

136) Ishan Adlakha

137) Anand Kumar

138) Anu Lall

139) Russel Nayyar

140) Kanika Monga

Flow of Presentation

◙ Introduction

◙ Changing Scenarios

◙ Similarities between Baby Boomers and Generation Y

◙ Attributes of Generation Y

◙ Attributes of Baby Boomers

◙ Some guidelines for new workplace

◙ The Way Ahead

Introduction

◙ Today the working environment is changing and so are the forces which affects it along with the total mix of working population.

◙ The workplace can be divided in 3 groups: Baby Boomers ( 1946- 1964) Generation X ( 1965- 1978) Generation Y ( 1979- 1994)

Both Boomers and Gen Y are twice each the size of Gen X

and these two are redefining the what constitutes a work place.

◙ The shift of generations from Gen X dominated to being dominated by Gen Y and Boomers, HR’s have to all together search for new ways and methods to keep the right talent in organisation during these times of recession and then to retain this talent when the economy starts recovering.

◙ Further more a survey which aims at finding what it takes to be an employer of choice conducted by “Hidden Brain Drain Task Force” which suggests that even at times of recession these 2 groups are inclined towards the “Remixed set of rewards” as drivers rather than fat pay packages.

◙ This new reward remix is both challenge and boon for talent managers.

◙ Challenging: As it does not have money as major motivational and retention tool. Also it requires difficult task of redesigning incentives.

◙ Boon: As it allows for rewards which are non-financial in nature and helps in reducing costs simultaneously helps in retaining motivated talent pool.

Changing Scenarios◙ With changing mix of employees the company’s are

also becoming a part of new breed of employers which respects educated employees increasing desire for:

Flexibility Personal Growth Connectivity Chance to give back

The above can be highlighted by following examples

1. Graduate Deferral Program at UBS : it allowed new joiners to take a break of I year before joining to work for community or acquire new skill set. They were offering half the basic salary along with health insurance and promise of opening when they returned.

2. Snowbird Program at CVS Pharmacy: it let employees at the opposite end of their carriers to move among CVS locations according to their seasonal preferences.

3. Digital Reverse Mentoring Program at Time Warner: it engaged people on both ends of their carriers.

Here the tech savvy students taught seniors executives of the organisation about the rapidly evolving landscape, digital trends and technologies.

With the above methods the companies had following benefits:

UBS trimmed payrolls while keeping the desired talent pool.

CVS was able to mobilize employees to match the seasonal migration of its customer

Time Warner enjoys benefit of more market attuned leadership.

◙ Odyssey

◙ Vision & Values

◙ Flexible and Remote Working

◙ Mentoring

◙ Rewards Remix

Similarities between Baby Boomers and Generation Y

Attributes of Generation-Y

◙ Ambitious

◙ Multicultural Ease

◙ Loyalty Towards Employer

◙ Inclined Towards the Healing the Planet

◙ Networking by Nature

Attributes of Baby Boomers

◙ Staying in Harness

◙ Believing in “We”

◙ Obligations Towards Families

◙ Long way to retirement

◙ Flexibility

Some guidelines for new workplace

◙ Modularity

◙ Flexibility

◙ Opportunities to give back

◙ Progressive Policies

◙ Intergenerational Mentoring

The Way Ahead◙ When the new generation enters the organisation it

brings with it the values and reflect its makeup. Arriving in subordinate roles they some time don’t get to have their preference and sometimes like in today’s scenario they get they want.

◙ The challenge with the Generation X will be that they will be entering into the shoes of boomers and will have the responsibility of mentoring a generation which is completely out of sync with theirs along with taking care for its elders.

◙ Managers with open minds and newly energized growth plans will find ways to satisfy the workplace demand of the talent the want.

◙ The organisations that thrive will be those that recognize their people’s shifting values and preferences.

◙ By finding ways to make work meaningful will be target area.

Thank You

Questions Please