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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

[email protected]

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

© Copyright 2016 All rights reserved.

Woodworking Industry Conference

mailto:[email protected]

http://www.generationalinsights.com/

http://www.timmoorespeaks.com/

http://twitter.com/timmoorecary

https://www.facebook.com/exploringthegenerations

http://www.linkedin.com/in/timmoorespeaks

4/16/2016


Attracting and Retaining a New Generation of Employees

Tim Moore




4/16/2016




4/16/2016



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.

4/16/2016




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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


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%


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


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



What’s Important to Gen X & Millennials

The individual, the ego

Impact on their lives

Being or becoming distinct

Being different



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Baby Boomers


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


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


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


52 - 70 years old

Irene Ryan – Age 60 in 1962

Christie Brinkley – Age 60 in 2014


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


Born 1946 - 1964

Gen X


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



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


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


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


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


19 – 35 years old


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



19 - 35 years old

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Millennials Are Likely To:

Move away from home…

Marry…

Have children…

Get a mortgage…

…later


19 - 35 years old

Millennials Are Likely To:

3000+/mo


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Millennial at 29 years old

Life stage


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


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


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


Born 1981 - 1997


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recruit - manage - retain


Businesses judged on:

‣ Quality of products & services

‣ Employee satisfaction

‣ Customer satisfaction

2016 Deloitte Millennial Survey © Copyright 2016 All rights reserved.

4/16/2016



Baby Boomers Gen X Millennials


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


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


Baby Boomers Generation X Millennials Value Me and My Expertise

• Community • Originality • Empathy • Creativity • Achievement • Cooperation • Openness • Adventurousness


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.


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.


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


Birth - 18 years old


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iGen / Gen Z Estimates

17+ jobs

15+ different places

>50% college educated


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.

4/16/2016


Are you attracting and retaining a new generation in the most effective way?


For More Information:

Tim Moore


919.460.6909 Office

919.604.0221 Cell

[email protected]

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

mailto:[email protected]

http://www.generationalinsights.com/

http://www.timmoorespeaks.com/

http://twitter.com/timmoorecary

https://www.facebook.com/exploringthegenerations

http://www.linkedin.com/in/timmoorespeaks

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