Managing and Perhaps Leading The Millennial Generation

Professor Karl Moore

January 24, 2008

MedicalEducation Rounds

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Agenda

Postmodernism – Truth Ain’t What It Use To Be

Why are they Important?

Managing the Millenials Vs. other Generations

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Research Base

+ 100 interviews with CEOs in Canada, Europe and Asia

Dick Evans, Pierre Beaudoin, Robert Brown, Michael Sabia, Robert Dutton, Moya Greene, Kevin Lynch, Pierre Lortie, Robert Milton, Mike Roach, Paul Tellier, Caryn Lerner, Robert Rabinovitch, Andre Navarra, Sheila Fraser, etc..

+ 300 interviews with 20 somethings in the Canada, the U.S., Japan and Europe

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Expanding Frames

Shipping Global Logistics

Your Office Away From HomeCopy Center

Source for Relaxed EntertainmentCoffee

?

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The Value Ladder

Irrelevant to

Competitive Position Needs of

Customers

Differentiated Differentiated

Undifferentiated

Market

PricingPremium

Make Goods

Services

Extract Commodities

Customization

Customization

(Wal-Mart and Internet)

Commoditization

Commoditization

Experiences

TransformationsCustomization

Customization

Commoditization

Make

Deliver

Stage

Guide

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Why Do We Care?

Generational clashes can lead to loss of valuable employees, negative health outcomes, wasted human potential, huge hiring problems, and stunning amounts of stress.

A key issue for the next decade.

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Other NamesMillenniums, Generation www, the Digital Generation, Generation E, Echo Boomers, N-Gens, and, most often, Generation Y.

Ask these young people to define themselves, though, and you will hear something far more creative: the Non-Nuclear Family Generation, the Nothing-Is-Sacred Generation, the Wannabes, the Feel Good Generation, CyberKids, the Do-or-Die Generation, the Searching-for-an-Identity Generation.

Source: Managing Generation Y: Global Citizens Bornin the Late Seventies and EarlyEightiesby BruceTulgan and Carolyn A. Martin, 2001, HRD Press.

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A Growing Part of the Workforce

As they take their first jobs, the Millennials havebeen/are the fastest growing segment of theWorkforce (in the U.S.) — growing from 14% of the workforce to 21% over the past four years tonearly 32 million workers.

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Postmodernism

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The Modern Viewpoint We are Moderns, mainly

Faith in Science to bring us to a bright future

We can KNOW thanks to the scientific method

Relentless Upward Progress

Many modernists believed that by rejecting tradition they could discover radically new ways of making art, architecture, etc..

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Science Base of Postmodernism

New sciences shift worldviews from modern to postmodern

– quantum mechanics (1900-1927)– chaos (complexity) theory and– self organization (autopoiesis) in the

1970s– punctuated equilibrium (1970s)

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Key Attributes of PostmoderismShared faith in rationalism is declining

Acceptance of “messiness” of human affairs

Expanded role for Expanded role for emotion, morality, and spirituality

Unique solutions common problems

Postmodernists attempt to replace metanarratives by focusing on specific local contexts as well as the diversity of human experience. They argue for the existence of a "multiplicity of theoretical standpoints", rather than grand, all-encompassing theories.

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Postmodern Leadership – Some Elements

1. The Decline of Metanarratives but the Rise of Stories

2. Privileging All Voices

3. The Importance of Emotions

4. A Renewed Need For Purpose

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MisconceptionsLazy

Over-confident

Spoiled

Mercenary

No focus

ADD

Gen X squared

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Reality

Well Educated

Driven

Long-term oriented

Diverse

Highly Computer literate

Racially Sensitive

Able to multi-task

Optimistic

Work to live

Yes, there’s a revolution under way among today’s kids—a good news revolution. This generation is going to rebel by behaving not worse, but better.

Millennials Rising, By Howe & Strauss

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“Well,” Paul said gruffly, breaking the silence. “I guess we have to stop trying to figure out which generation is right and which one is wrong, and instead figure out how to manage them appropriately.”

Source: When Generations Collide, Lancaster & Stillman.

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Maybe the Best Generation ...

It's time to see our kids for who they truly are. Most of them are not rude, wild, andirresponsible; in fact, most of them could one day make this country an immenselybetter place. — David Gergen, Editor at Large, U.S. News

The future will be grand because our kids will be its keepers.... [This generation] is moreinteresting, more confident, less hidebound and uptight, better educated, more creative, and, insome essential fashion, unafraid. ... [My own children are] simply better than I was at their age,[and their peers are] generous in ways unknownto me when I was young. — Anna Quindlen, in Newsweek

These are goodhearted kids, and when you give them the opportunity to have responsibility, they run with it. — Adraine LaRoza, Executive Director, Volunteer Services of Manatee County,Florida, and overseer, ManaTEENClub

[They have] not just better attitudes and behaviors than we have a rightto expect, but an optimism and responsibility that leave elders' empty moralisms in the dust.— Mike A. Males, Framing Youth (1999)

Generational Issues

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CohortsFrom the Roman Army

“People resemble their times more than their parents”

Events define us

A generation is composed of people whose common location in history lends them a collective persona

Defining Events1930s: Great Depression

Election of King1940s: Pearl Harbour

D-DayVE Day and VJ DayAtomic Bomb

1950s: Korean WarTV in every homeRock and Roll

1960s: VietnamKennedy Moon Landing

1970s: Oil CrisisWatergateFirst PCs

1980s: Fall of Berlin WallMulroney, Thatcher and Regan

1990s: War in IraqDeath of DianaClinton Scandals

2000s: September 11th

War in Iraq reduxIpod

Source: Adapted from Generations at Work, Zemke, et al, 2000

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The Four Generations of Canadians

1922 1934 1942 1950 1958 1966 1974 1982 1990 1998

Veterans Baby Boomers GenXers Millennials

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The Four Generations of Canadians Popular NamesGeneration

George and DorothyThe Veterans

Tom and LindaThe Baby Boomers

Devon and LiGeneration Xers

Millenials

AliasesTraditionalists

WW II GenerationThe Silent Generation

Boomers

XersTwenty-somethings

ThirteenerBaby Busters

NextersGeneration Y

Internet Generation

Birth Years 1922-1943 1943-1960 1960-1978 1979-2002

Defining Event and Trends

PatriotismFamilies

The DepressionRiding the Rails

ProsperityChildren in the Spotlight

TelevisionSuburbiaCold War

Space RaceWomen’s Lib

WatergateLatchkey kids

Single-parent homesMTVAIDS

Fall of CommunismPersian Gulf

ComputersInternetIpods

MulticulturalismGirls’ MovementSeptember 11th

Visible MembersGeorge Bush Sr.

John GlennPaul Martin

Bill Gates, Jean Charest, David Letterman, Bill and

Hillary

Douglas CouplandKurt Cobain

Brad Pitt, Michael Jordan

Brittany SpearsJohn Maier

Justin TimberlakeSidney Crosby

Music of Their Early YearsSwing

Big BandSinatra, Goodman, Dorsey

Rock n’RollAcid Rock

Elvis, Beatles, Rolling Stones, BTO, Supremes

Disco, Rap, Reggae, Elton John, Tina Turner, Prince, U2, Celine Dion

Alternative Rap, SKA, Remix, Brittany Spears, Will Smith, Backstreet

Boys, Eminem

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The Way They See the WorldBoomers Xers Millenials

Outlook Optimistic Skeptical Hopeful

Work Ethic Driven Balanced Determined

View of Authority Love/Hate Unimpressed Polite

Leadership by Consensus Competence Pulling Together

Relationships Personal Gratification

Reluctant to Commit

Inclusive

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Upbringing

Highly Scheduled from Birth–Hockey, Music lessons, swimming practice… pampered and nutured since birth

Focused on People Vs. Institutions–Watched Companies Break Social contract with Parents

Coddled and celebrated from birth–Less siblings to compete with–Consumer Generation–Parents substituted time for things–Never lacked for anything

Optimists–The affluence of the 1980s-1990s–Waiting to fix the world

Used to instant information and feedback –Internet has made them impatient–Video game Mentality-Press button Mario jumps

Why are they Important?

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Waiting For the World to Change

Will one day dominate the West

Largest population bulge since Baby Boomers

Will support Institutions as Baby Boomers retire

Huge Consumers

Highly conscious of the environment

Highly conscious of the world’s problems"Today’s kids are on track to become a powerhouse generation, full of technology planners, community shapers, institution builders, and world leaders, perhaps destined to dominate the twenty-first century like today’s fading and ennobled G.I.Generation dominated the twentieth. Millennials have a solid chance to become America’s next great generation." from Howe and Strauss, authors of Millennials Rising

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Outlook

Millennials feel they have a bright future ahead of them but they feel that the baby boomers have left them a broken world. –The US Double Deficit and the Lucid Manifesto here in Quebec

–The Environment–The Strife in the Middle East

High degree of Social consciousness

Managing the Generations

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Anything New?

Three to Four Generations working together

Age doesn’t mean you run things

High Potentials anointed at a younger age

More significant differences in attitudes to life and work

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The BoomersGeneral Characteristics –See the world in a good versus evil battle–Enormous expectations about the potential of life–Competition, competition, competition–Personal Gratification–Health and Wellness–Personal Growth–Youth–Work–Involvement–Given more education, and training then any generation in history–Motivated by a desire for continual self-improvement and personal achievement

As more turn 60, many struggle to cope with the disappointment of failing to meet their expectations–Continue to refuse to admit their best years have passed–Many are trying to relive their glory of days past–Live for comfort , not style anymore

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Boomer Motivational Messages

You’re Important to our success

You’re valued here

Your contribution is unique and important

We need you

I approve of you

You’re Worthy

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GenXer Core Values

Diversity

Thinking globally

Balance

Technoliteracy

Fun

Informality

Self-reliance

Pragmatism

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Messages That Motivate GenXers

Do it your way

We’ve got the latest high tech stuff

There aren’t a lot of rules around here

We’re not very corporate

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Millennial Current Core Values

Optimism

Civic Duty

Confidence

Achievement

Sociability

Morality

Street Smarts

Diversity

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Messages That Motivate Millenials

You’ll be with bright, very creative people

You and your coworkers can help turn this place around

You can be a hero here

You will have responsibility

You will be recognized

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What Millennials want out of Life & Work

Collaborative

Challenging

Creative

Rewarding

Social

Digital Thinking

Self Expressive

Recognition

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What they do not want

Command and Control

Cog in the wheel

Refuse to become their jobs

Live to Work

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What Millenials look for in a Job?Learning to Work: Campus Recruitment SurveyPolled 30,000 Students across 143 post-secondary schools in CanadaStudents answered what they look for:

Opportunities for Advancement 46%Good people to work with 42%Good people to report to 41%Work Life Balance 37%Initial Salary 29%

Clearly a departure from What people think they want

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What They Are Looking For

KM: Companies would like to hire people like you, ambitious,achievement orientated young people. What should they do to beattractive to you guys? What are the companies that make you say,“I am going to go work for them and be a great employee forthem?” What attracts you?

LH: I think one of the biggest differences for our generation when we are looking for jobs is it is not going to be the paycheck at the end of the day but the culture, the company culture and the fit and that is really important. That goes back to our need for balance in our lives in that we are not willing to work an awful job but make a lot of money. We would much rather take a job that is fulfilling for us personally that may or may not pay as much.

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What Boomers ThinkKM: I was just talking to two vice-presidents from a global multinational and oneof their questions for you guys was, You come and stay a few years, you leave.They invest al this time and energy in you and you just go off to another company. They found that frustrating, how would you answer that?

JL: I think the clear demonstration or clearly showing them that there is the opportunity foryou to advance within the corporation because I think you find too many places where yougo and it is known that within five years this is as far as you are going to get and that is as\far as you can go at one place because you don’t have experience over here or in thisaspect of the field or this background of education. I think that is why people jump ship:because, one, they become too accustomed to the corporate culture and, two, they justdon’t see any future for them in the corporation, they don’t see the ability to continue.

LH: I think that has a lot to do with our constant desire to find challenging work so that whenyou are at a position when you are not moving up then work becomes the same old, itbecomes tedious. For us it is all about the challenge, we always want to be learning, justlike Noah was saying.

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And Many ExceptionsKM: Some of your fellow students go and become I-bankers for Goldman Sachs or Morgan Stanley in New York.

You know these people. Do you think they are just going after the money?JL: Absolutely. I don’t believe people willingly want to work a 100 hours a week in a cubicle as a low-level

employee with no say, being ripped on everyday with extreme, extreme amounts of pressure because they enjoy it. I don’t think anyone enjoys that type of pressure.

NB: I work in that industry, not on the investment banking side but on the legal side. Our hours … can be pretty tough at times but I do find the industry sort of fascinating. But what I like about my job and the firm that I work at – which is not investment banking, it is a law firm – is that they continuously give me

opportunities to grow and to be challenged. I could tomorrow turn around and geta job in an investment bank but I prefer to work where I work because of thenonmonetary benefits that I get and when they said “culture” …. what that meansto me is that I don’t get ripped on, as Josh said. I don’t get insulted or put down.My contributions are valued. I am constantly challenged. I wouldn’t say all thework I do is exciting al the time. Due diligence isn’t the most exciting thing in theworld but I am always learning. For me what I really like, what I really want atwork and what I would tell a firm that wanted to hire me to offer – give me an

opportunity to learn, give me an opportunity to grow. We don’t look at ouremployers as life-long employers. That is another fundamental difference between us and the babyboomer

generation that came before us. I don’t know what the statistic is now but I think it is something like our generation is expected to (have) at five or six employers throughout our careers. That is fundamentally different from my parents’ generation and I think that employers need to think about what will be attractive to us besides money if they want to hire people like us.

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Key Takeaways with Millennials

Potentially a great generation

Strive to be Authentic not cool

Study their history and times

Understand Post Modernism

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Further ReadingAmerican Demographics; http://adage.com/americandemographics/

When Generations Collide: Who They Are. Why They Clash. How to Solve the Generational Puzzle at Work, by Lnne Lancaster and David Stillman, 2003, Harpercollins, ISBN 0066621070 .

Getting Them to give a Damn, by Eric Chester, 2005, ISBN: 1-4195-0458-4

Millenials Rising, by Howe And Strauss, 2000, ISBN 0375707190

Age Power: How the 21st Century Will Be Ruled by theNew Old, by Ken Dvchtwald, 2002, Jeremy P. Tarcher ; ISBN: 1585420433

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Medical Education in 2018

1. Rethink the Meaning of Career

2. Flexibility, Flexibility, Flexibility

3. What is good for the Gander is good for the Goose

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IMHL