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Generation Y Paradigms of Work and Leadership Adam Kingl, MBA2004 Director of Learning Solutions Executive Education Richard Hytner, SLN2003 Adjunct Assoc. Professor of Marketing Deputy Chairman, Saatchi & Saatchi

Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

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Since 2009, London Business School has been issuing a survey to the participants of our executive education open enrollment Emerging Leaders Programme, asking their attitudes toward work, employee engagement, and leadership paradigms. Adam Kingl and Richard Hytner presented the results of the survey and their conclusions on working with generation Y at London Business School's flagship event, the Global Leadership Summit. Learn more about what happened at #2014GLS: http://bit.ly/1tI2kNn Learn more about the Global Leadership Summit: http://gls.london.edu

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Page 1: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Generation Y Paradigms of Work and Leadership

Adam Kingl, MBA2004Director of Learning SolutionsExecutive Education

Richard Hytner, SLN2003Adjunct Assoc. Professor of MarketingDeputy Chairman, Saatchi & Saatchi

Page 2: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Generations:

• Silent Generation: 1925-1942• Baby Boom Generation: 1943-1960• Generation X: 1961-1981• Generation Y: 1982-2004• Generation Z, Plurals: 2005+

Page 3: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Number of employers our:

• Grandparents had: 1-2

Page 4: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Number of employers our:

• Grandparents had: 1-2• Parents had: 3-4

Page 5: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Number of employers our:

• Grandparents had: 1-2• Parents had: 3-4• Gen X will have: 7-8 • Gen Y will have: 15-16

Page 6: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Number of employers our:

• Grandparents had: 1-2• Parents had: 3-4• Gen X will have: 7-8 • Gen Y will have: 15-16

So Gen Z will have 32??!

Page 7: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Number of employers our:

• Grandparents had: 1-2• Parents had: 3-4• Gen X will have: 7-8• Gen Y will have: 15-16

So Gen Z will have 32??!

Page 8: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Number of employers our:

• Grandparents had: 1-2• Parents had: 3-4• Gen X will have: 7-8• Gen Y will have: 15-16

So Gen Z will have 32??!

Page 9: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

It does appear that the number of employers DOUBLES with each generation…

• Grandparents had: 1-2• Parents had: 3-4• Gen X will have: 7-8• Gen Y will have: 15-16

So Millenials will have 32

Page 10: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Let me say that again…32 employers in a lifetime!

Page 11: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Emerging Leaders Programme survey

• Surveying participant since 2009, 2 cohorts per year• Average age: 29

Page 12: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

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Page 13: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

We asked them:How long do you expect to stay with an employer?

• 11+ years• 6-10 years• 3-5 years• 1-2 years

Page 14: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

We asked them:How long do you expect to stay with an employer?

• 11+ years: 5%• 6-10 years• 3-5 years• 1-2 years

Page 15: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

We asked them:How long do you expect to stay with an employer?

• 11+ years: 5%• 6-10 years: 5%• 3-5 years• 1-2 years

Page 16: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

We asked them:How long do you expect to stay with an employer?

• 11+ years: 5%• 6-10 years: 5%• 3-5 years: 53%• 1-2 years

Page 17: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

We asked them:How long do you expect to stay with an employer?

• 11+ years: 5%• 6-10 years: 5%• 3-5 years: 53%• 1-2 years: 37%

Page 18: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

We asked them:How long do you expect to stay with an employer?

• 11+ years: 5%• 6-10 years: 5%• 3-5 years: 53%• 1-2 years: 37%

• 90% plan to leave within 5 years• Over a third within 24 months!!

Page 19: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

What matters?• Work-life balance• CEO’s reputation• Promotion opportunities• Performance-based bonus• Share price performance• Openness to innovation• Employee benefit package• Organisational culture• Corporate social responsibility practice

Page 20: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Most important factors in choosing an employer:3)

2)

1)

Page 21: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Most important factors in choosing an employer:3) Promotion opportunities

2)

1)

Page 22: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Most important factors in choosing an employer:3) Promotion opportunities

2) Organisational culture

1)

Page 23: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Most important factors in choosing an employer:3) Promotion opportunities

2) Organisational culture

1) Work-life balance

Page 24: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Putting the story together

• 90% plan to leave within 5 years• 37% plan to leave within 2 years• 54% more loyal to team than to organisation• Top employer attractiveness factors do not include traditional benefits,

bonuses, etc.

Page 25: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Some implications:• Are long-term benefits (eg, pensions) valued anymore? Or do such benefits

need to be more easily ‘carried around’?• Employers may need to redefine and reprioritise benefits:

• Immediate talent development opportunities• Promotion opportunities based on performance and stronger mentor-

mentee relationships rather than tenure• Can the employer proposition include a career path that assumes the

employee may leave and come back?• Can the employers focus development and engagement more on teams rather

than on individual ‘high-potential’ employees?

Page 26: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Hierarchy does not exist in their minds.

•Aspiring Gen Y leaders will not worship the Gen X gods of linear advancement and extrinsic reward.

•Gen Y leaders are averse to hierarchical vertigo: ‘where on earth would 32 rungs up a ladder take you?’

•They see ‘a network of possible wanderings’. Helping a friend with her start-up, hopping to a corporate for some skills development, jumping into a not for profit for some front-line action, starting her own business from home.

Page 27: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Hierarchy does not exist in their minds.

•Aspiring Gen Y leaders will not worship the Gen X gods of linear advancement and extrinsic reward.

•Gen Y leaders are averse to hierarchical vertigo: ‘where on earth would 32 rungs up a ladder take you?’

•They see ‘a network of possible wanderings’. Helping a friend with her start-up, hopping to a corporate for some skills development, jumping into a not for profit for some front-line action, starting her own business from home.

They will have 32 opportunities to develop as leaders.

•Each one is an adventure in its own right, not a stepping stone to some predetermined destination.

Page 28: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Hierarchy does not exist in their minds.

•Aspiring Gen Y leaders will not worship the Gen X gods of linear advancement and extrinsic reward.

•Gen Y leaders are averse to hierarchical vertigo: ‘where on earth would 32 rungs up a ladder take you?’

•They see ‘a network of possible wanderings’. Helping a friend with her start-up, hopping to a corporate for some skills development, jumping into a not for profit for some front-line action, starting her own business from home.

They will have 32 opportunities to develop as leaders.

•Each one is an adventure in its own right, not a stepping stone to some predetermined destination.

‘Complete’ leadership is a dream state never quite attained.

Page 29: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Progression not promotionEmployers need to reframe the career conversation.

Page 30: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Progression not promotionEmployers need to reframe the career conversation.

They need to co-create a portfolio of multiple opportunities that deliver directly to the Gen y leader’s personal purpose:

• Responsibility• Recognition• Learning• Joy

Page 31: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Progression not promotionEmployers need to reframe the career conversation.

They need to co-create a portfolio of multiple opportunities that deliver directly to the Gen y leader’s personal purpose:

• Responsibility• Recognition• Learning• Joy

Lateral as well as linear; sooner rather than later.

.

Page 32: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Progression not promotionEmployers need to reframe the career conversation.

They need to co-create a portfolio of multiple opportunities that deliver directly to the Gen y leader’s personal purpose:

• Responsibility• Recognition• Learning• Joy

Lateral as well as linear; sooner rather than later.

C leadership roles rather than A roles alone.

.

Page 33: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Conventional leadership roles

Organisational leader

Business Unit leader

Functional leader

Team leader

A instead of No 1

Page 34: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Conventional leadership roles

Organisational leader

Business Unit leader

Functional leader

Team leader

A instead of No 1

Consiglieri leadership roles

Loadstone

Educator

Anchor

Deliverer

C instead of No. 2/3/4

Page 35: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Title of thepresentation

Sub title

Top priority if you were CEO?• Run things democratically• Retain only the most productive staff• Rotate staff to avoid complacency• Expand into new / emerging markets• Grow the current market• Ensure environmentally sustainable practice• Develop / promote innovation• Benefit the community• Diversify the business• Research customers more thoroughly

Page 36: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Top two answers:2)

1)

Page 37: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Top two answers:2) Expand into new / emerging markets

1)

Page 38: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Top two answers:2) Expand into new / emerging markets

1) Develop / promote innovation

Page 39: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

What type of CEO will you emulate?• Focus on how business is trading

• Focus on global impact of the business

• Focus on retaining the entrepreneur’s POV: ‘How’s my baby doing today?’

• Focus on renewing personal mission: ‘How do I make my organisation and world a fundamentally better place?’

• Focus on financial worth of the business

Page 40: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

What type of CEO will you emulate?11.5% Focus on how business is trading

• Focus on global impact of the business

• Focus on retaining the entrepreneur’s POV: ‘How’s my baby doingtoday?’

• Focus on renewing personal mission: ‘How do I make myorganisation and world a fundamentally better place?’

• Focus on financial worth of the business

Page 41: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

What type of CEO will you emulate?11.5% Focus on how business is trading

11.5% Focus on global impact of the business

• Focus on retaining the entrepreneur’s POV: ‘How’s my baby doingtoday?’

• Focus on renewing personal mission: ‘How do I make myorganisation and world a fundamentally better place?’

• Focus on financial worth of the business

Page 42: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

What type of CEO will you emulate?11.5% Focus on how business is trading

11.5% Focus on global impact of the business

33% Focus on retaining the entrepreneur’s POV: ‘How’s my baby doingtoday?’

• Focus on renewing personal mission: ‘How do I make myorganisation and world a fundamentally better place?’

• Focus on financial worth of the business

Page 43: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

What type of CEO will you emulate?11.5% Focus on how business is trading

11.5% Focus on global impact of the business

33% Focus on retaining the entrepreneur’s POV: ‘How’s my baby doingtoday?’

43% Focus on renewing personal mission: ‘How do I make myorganisation and world a fundamentally better place?’

• Focus on financial worth of the business

Page 44: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

What type of CEO will you emulate?11.5% Focus on how business is trading

11.5% Focus on global impact of the business

33% Focus on retaining the entrepreneur’s POV: ‘How’s my baby doingtoday?’

43% Focus on renewing personal mission: ‘How do I make myorganisation and world a fundamentally better place?’

1% Focus on financial worth of the business

Page 45: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Let me say that again…1% would focus on financial worth!

Page 46: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Financial worth is no longer king!

• We’re crossing a meridian where social and community impact is more important

• Shareholder value is an outcome, not an output• Will be initial tensions and growing pains among organisations and public

markets about expectations• What happens when the CEO doesn’t care about the share price today?• What happens when the investor doesn’t care about the share price today?• Will the next generation of leaders at last have the courage (and possibly the

permission) to think long-term, beyond quarterly results?

Page 47: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

A CEO – or A - for our Gen Y times

• Ultimately accountable• Team decider• Trusted• Emotionally intelligent• Serving a higher order purpose• Able to embody that purpose – personally• Able to sustain that purpose• Authentic in the limelight• An impermanent first among equals

Page 48: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Challenges for the Gen Y CEO

• Long-term sustainability vs short-term seduction

Page 49: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Challenges for the Gen Y CEO

• Long-term sustainability vs short-term seduction • Social currency vs personal currency

Page 50: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Challenges for the Gen Y CEO

• Long-term sustainability vs short-term seduction • Social currency vs personal currency • Avoidance of global warming – too much exposure to the limelight

Page 51: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Challenges for the Gen Y CEO

• Long-term sustainability vs short-term seduction • Social currency vs personal currency • Avoidance of global warming – too much exposure to the limelight• Active listening – long distance

Page 52: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Challenges for the Gen Y CEO

• Long-term sustainability vs short-term seduction • Social currency vs personal currency • Avoidance of global warming – too much exposure to the limelight• Active listening – long distance• Revealing your generosity – selfies are bad for your image

Page 53: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Challenges for the Gen Y CEO

• Long-term sustainability vs short-term seduction • Social currency vs personal currency • Avoidance of global warming – too much exposure to the limelight• Active listening – long distance• Revealing your generosity – selfies are bad for your image • Nurturing the culture

Page 54: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Challenges for the Gen Y CEO

• Long-term sustainability vs short-term seduction • Social currency vs personal currency • Avoidance of global warming – too much exposure to the limelight• Active listening – long distance• Revealing your generosity – selfies are bad for your image • Nurturing the culture• Casting and curating your C leaders

Page 55: Generation Y Paradigms of Work and Leadership | 2014 Global Leadership Summit

Generation Y Paradigms of Work and Leadership

Adam [email protected]

Richard [email protected]