Presented by Crystal Olig for Colliers International, Greater Columbus Region June 12, 2012

HELLO THERE!

Crystal Olig Account Services Manager, Oxiem Interactive Blogger, Digital Marketer, Dog Lover, Husker Fan, Wife & Mom-to-Be

colig@oxiem.com @whYgenY on Twitter

whYgenY.wordpress.com

More: Professional digital marketing resume and portfolio: http://visualcv.com/crystalolig

LinkedIn: http://www.linkedin.com/in/crystalaolig Brazen Careerist: http://www.brazencareerist.com/profile/crystal-olig

Find this presentation online at: slideshare.net/crystalaolig

BACKGROUND Past Speaking Engagements: •  Panelist, Phoenix Public Relations Society of America, Seminar on “What’s Next for 2009” (January 2009) •  Selected as featured blog author, Brazen Careerist Blog, Multiple topics & posts (2009/2010)

•  Speaker, Denison University, Presentation on “Gen Y-ers Who Get It” (April 2010) •  Speaker & Panelist, Columbus Young Professionals Conference, “Personal Branding for Gen-Y” (April 2010)

•  Speaker, 28th Annual Entrepreneurship Education FORUM with Rick Coplin, “Teaching Entrepreneurship to a Digital Generation” (November 2010)

•  Panelist, Ohio Growth Summit, “Understanding the Natives, Looking at the Web from a Gen Y Lens” (June 2011)

Other appearances on the topic of changing technology and marketing:

•  Education Marketing Online: Social Media, Search Marketing & Websites •  Online Education and Marketing in Schools

•  Does Your Website Stink? •  Search Engine Marketing Workshop: The Basics of SEO & SEM

•  Basics of Web Marketing for Small & Local Businesses – Reynoldsburg Chamber

Agenda •  Who are the Millenials? •  Gen Y Facts & Figures •  Organizational Change is

in the Water •  Human Resources •  Managerial Skills

HELLO THERE!

“Gotta keep learning. Gotta keep moving. All the stuff you’ve forgotten, I’ll never have to know. Half the stuff you remember, I’ll never have to know. That just means I’m way past halfway to catching up to you. It’s the obsolescence cure getting steeper and steeper. It makes it a whole lot easier for a guy my age to catch up to the more experienced people.” Not Everyone Gets a Trophy: How to Manage Gen Y by Bruce Tulgan

Q. How Millenial Are You?

Take the quiz.

HOW MILLENNIAL ARE YOU?

Credit: Pew Research Center, 2010

HOW MILLENNIAL ARE YOU?

Credit: Pew Research Center, 2010

GEN Y PERSPECTIVES

I am…

•  connected professionally to more than 500 people on Linked In

•  more likely to have your e-mail than your phone number

•  friends with more than 900 people on Facebook

•  a second language-speaker

•  a college graduate

•  six jobs into my career

•  a laid-off worker

•  a digital native

•  a DIYer

GEN Y PERSPECTIVES

•  38% have tattoos

•  75% have a social profile

•  50% favor gay marriage

•  64% believe in God

•  37% are unemployed or out of the labor force

•  41% have a full time job

•  1/3 are receiving finanical assistance from their families

•  13% of 22- to 29-year-olds have moved in with their parents after living on their own

Study of the 50 million Millenials 18 or older by the Pew Research Center, 2010

WORD DEFINITION !!!!! @ *action*

#fail Aight b4 brb BTW LOL LMAO TTYL

DEFINITION EXAMPLE USAGE

GEN Y TRANSLATOR

WORD DEFINITION !!!!! So amazing! Wow @ At

*action* Right now I’m doing this

#fail That did not go well. Aight Alight

b4 Before brb Be Right Back

BTW By The Way LOL Laugh Out Lout

LMAO Laughing My @$$ off TTYL Talk to You Later

OMG Oh My Gosh/God!

GEN Y TRANSLATOR EXAMPLE USAGE Puppies!!! I’m @ the pool. *hug* Fell down stairs. #fail “Do you want to go?”/ “Aight” Call you b4 I leave Got a call. BRB. BTW, she was late today. He did what?! LOL! I can’t believe he said that. LMAO. Gotta go, TTYL. OMG, what happened?

ZOMG, WOOT, ROTFLCOPTER, TOMOZ, REDONKULOUS

Millennials move in. Gen Xers move up. Boomers move beyond (a little later than planned) The collision of generations creates tension, and opportunity… and everyone has to adjust

GENERATIONS TODAY

•  Greatest Generation pre-1928 •  Silent Generation children of the Depression

•  Baby Boomers the hippie kids

•  Gen X the latchkey kids

•  Gen Y or Millenials the trophy kids: 60 – 70

•  Gen Z or Tweens the alpha kids

GENERATIONS TODAY

Credit: Iconoculture, Generations At Work, Robinson & Elfering

Millenials are the most socially and diversely tolerant generation ever, the most educated and technologically savvy generation ever, and also the most sheltered & structured generation in our country’s history. Managing the Millenials

NEGATIVE PERCEPTIONS

Millennials…

•  are entitled

•  are needy

•  are disrespectful

•  are unmotivated

•  are disloyal

•  have short attention spans

•  have helicopter parents

•  want a trophy just for showing up

1 in 3 is not Causasian. 1 in 4 comes from a single-parent home. 3 in 4 have working mothers; and in two parent homes, children get more time with their parents than they did 25 years ago. Managing the Millenials

GEN Y PERSPECTIVES

Credit: Pew Research Center, 2010

GEN Y EXPECTATIONS

Credit: “Chasing the American Dream: Recent College Graduates and the Great Recession,” Heldrich Center for Workforce Development. via NYTimes.com, Economix blog

RECESSION IMPACT

The next pay gap? Generation, not gender.

•  40% of Millennials have been at their jobs less than 12 months

•  Pay increases dropped from 3.5% in 2009 to 1/9% in 2010

•  20% of Millennials have seen at least one pay cut since 2008.

•  14% suffered a layoff (compared to 8% of Boomers)

Credit: Forbes, January 5, 2011

Nearly three-quarters (72%) of hiring managers said managing mutigenerational work teams poses a challenge. But more than one-third of workers polled felt having a group of employees at different experience levels increases productivity. Robert Half study, July 14, 2010

VALUES OF GENERATIONS

Gen Y Gen X Boomers

GENERATIONS AT WORK

Key Points of Tension: •  Technology •  Communication •  Definitions of success •  Space and (my) place

TECHNOLOGY BY GENERATION

•  GEN Y: Technology is everything

•  GEN X: Technology keeps work & personal separate

•  BOOMERS: Technology is work

TECHNOLOGY BY GENERATION

TECHNOLOGY BY GENERATION

BOOMERS

GEN X

GEN Y

Two-thirds of all Boomers agree that PDA and mobile phones contribute to the decline of proper workplace etiquette. Less than half of Gen Y workers agree. Only 17% of Boomers believe using laptops or PDAs during in-person meetings is “efficient” while more than one-third of Gen Y do. Only 28% of Boomers think blogging about work-related issues is acceptable, while 40% of Millenial workers do. LexisNexis survey, ReadWriteWeb, April 24, 2009

TECHNOLOGY POINTERS

•  Recognize and encourage experimenting with new tools when the situation allows

•  Locking down social media rarely succeeds and can backfire – using it well at a corporate level is more effective

•  Don’t deflate by complimenting technology instead of the person

•  Utilize modern technology like smart phones, tablet computers, useful systems

•  Check out: •  Google products – chat, drive, Google + •  Yammer – internal network •  Skype

TECHNOLOGY EXPECTATIONS

•  Company cell phone

•  “I can get to everything I need online” – cloud computing, virtual networks

•  Laptop or up-to-date computer (within 5 years)

•  Ability to install & try programs

•  Instant tools like IM, chat

•  Latest programs to accomplish the job

•  Up-to-date versions of Microsoft products

•  Open & flexible work/project spaces

COMMUNICATION EXPECTATIONS

•  Everyone’s ideas are valuable – therefore I can speak up when I feel I have an idea

•  Everyone is accessible on a cell phone or e-mail

•  Less concern about the chain of command

•  “On paper” can mean digitally – so give me the tools to do that

•  Less formal communications are acceptable in business settings, including: •  E-mails •  Written communications •  Phones

TECHNOLOGY & COMMUNICATIONS

A recent Accenture survey indicates that Millennials: •  Increasingly choose their employer

based on access to leading technology.

•  Prefer to choose the computer, mobile device and applications they use at work.

•  Express disappointment with the quality of employer-provided emerging technologies.

•  Favor text messaging or instant messaging over e-mail.

•  Routinely bypass corporate approval procedures when using devices and applications.

•  Regularly download nonstandard technologies not available at work.

•  Exhibit different notions of online privacy than older workers.

Global Research on Millennials’ Use of Technology, Accenture, Link

SUCCESS MEANS…

Millenials define success differently than generations before. Frequently mentioned values include: •  Living and working on my terms with my own schedule

•  Making a good living, but less focus on only financial satisfaction

•  Work-life balance is crucial

•  Aligning my company’s values with my own

•  Feeling connected personally with my co-workers

•  Being mentored and continuing to learn or getting more education

•  Able to give back to my community or causes that matter to me

•  Less dependency on institutions

WHERE DO I WORK?

Millennials work more places than ever before. It’s probably not always at their desks from 9 - 5. •  Mobile technology makes it easier than ever to work from afar

•  Flex time allows for better work-life balance

•  Millennials don’t mind being “on the job” around the clock but not continuously

•  What time does work start?

GENERATIONS AT WORK

Key Points of Success: •  Attracting •  Motivating •  Mentoring •  Managing

“At least 50% of executives in the U.S. will be eligible to retire in the next 5 years. You might think, ‘Well, that’s ok, we’ll just let the people in the next positions take their place.’ The problem is that the people in the 2nd, 3rd and 4th positions are also Baby Boomers, and they are going to be retiring too,” Managing the Millenials

WHAT MILLENIALS WANT AT WORK

•  Flexibility: Schedule, process, expectations

•  Freedom: To negotiate job description, management’s recognition that they have a life outside of work

•  Incenting: Create incentives 20somethings value, clearly and thoroughly state desired outcomes and expectations and provide timely and fair assessment of their performance

•  Rewards: Incremental & long-term

•  Relationships: Be empathetic, get closer in proximity, be curious about each other, grow them

•  Engagement: It’s not fun or a foosball table. It is keeping me interested and involved in decision-making, and having a workable culture.

GETTING GEN Y THROUGH THE DOOR

Hiring & Recruiting

•  Share the “soft” stuff – tell future employees what the real day-to-day is life

•  Remember, you are being interviewed too

•  Bring some salesmanship to the table – why do you love to work here?

•  Allow for trial periods or testing during hiring process

•  But, never ever B.S. Gen Y sees straight through it.

•  Don’t overpromise.

•  Create a few key Gen Y friendly talking points: •  Flex time •  Cool office space •  Freedom to pursue personal projects •  Ability to volunteer on company time – CSR is important

KEEPING GEN Y

Training & Retaining

•  Building a Millenial-friendly culture •  Identify your all-star managers and give them a platform •  Involve your managers in the conversation •  Ask the Millenials

•  Create a mentorship program •  Actively participate in career-growth planning •  Commit to regular and fair performance assesments •  Create a full circle of feedback •  Make sure your website and other elements of online presence are up-to-date and

reflective of corporate mission & culture

REVERSE AGEISM What is it? Ageism, or age discrimination is stereotyping and discriminating against individuals or groups because of their age. It is a set of beliefs, attitudes, norms, and values used to justify age based prejudice, discrimination, and subordination.

What to avoid: •  Asking someone his or her age •  Questions like, “Do you even know what a fax machine is?”

•  How long have you been doing this? I need to talk to someone experienced. •  “You probably don’t remember this but…” •  Outdated cultural references. i.e. Laugh-in = Saturday Night Live, American

Bandstand = American Idol, The Johnny Carson Show = Jay, Letterman or Conan

“Suspend the bias of your own experience” Managing the Millenials

GENERATIONS AT WORK: MOTIVATION

Incenting that Millenials Like:

•  Performance-based compensation

•  Praise– personal, written, electronic, public

•  Support & involvement

•  Autonomy & authority

•  Flexible working hours

•  Learning & development opportunities

•  Manager availability & time

Credit: The Management Bible, Bob Nelson & Peter Economy

GENERATIONS AT WORK: MOTIVATION

Non-Monetary Considerations

•  Performance-based compensation

•  Flexible schedules, location

•  Marketable skills – both formal and information training

•  Access to decisions makers

•  Personal credit for results achieved

•  Clear area of responsibility

•  Chance for creative expression

ON COMPANY LOYALTY: “In this way, you are searching for a company that deserves your loyalty. It’s brand will be in line with the image you have of yourself.”

“Quite frankly, there is an unrealized expectation that experience and position should count for something in the eyes of their subordinates,” Managing the Millenials

MANAGERIAL ADAPTATION & GROWTH

Perspective The Effective Managers The Challenged Managers

Adaptability Talked about their own need to manage in today’s world

Others need to change to make it in the real world

Self-Efficacy Believed they could do something

Believed there was nothing to do about it

Confidence Allowed subordinates to challenge

Sanctioned or punished challengers

Power Used the power of relationship

Only power felt was positional authority

Energy Working with 20somethings made to feel younger

Working with 20somethings made to feel older

Success Saw themselves as key to 20somethings success

Saw the 20somethings as an impediment to own success

DISCUSSION

§  What non-monetary compensation options can we offer to attract Gen Y? §  Are we providing the kind of mentorship needed to keep Gen Y invested & growing? §  Have we adapted our processes and technology to stay up-to-date? §  How can we teach Gen Y to adapt to today’s workplace and work with older

customers? §  Can we teach to gain trust?

FILL YOUR MIND

•  Not Everyone Gets a Trophy by Bruce Tulgan

•  The Trophy Kids Grow Up by Ron Alsop

•  Managing the Millennials: Discover the Core Competencies for Managing Today's Workforce

•  Brazen Careerist.com

•  GenNext Free Study (registration required)

•  http://www.redtreeleadership.com/millennials/FreeGRI.php

•  http://www.pewsocialtrends.org/series/the-millennial-generation/