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Live First, Work Second: Getting Inside the Minds of the Next GenerationMolly Foley, Next Generation Consulting
Wednesday, June 1, 2011
Who is the “Live First, Work Second” next generation?How did we get here?
Wednesday, June 1, 2011
I must run a dry-cleaning shop so my sons can go to medical and law school, in order that their sons may study sociology and communications, so that their children can run vintage clothing stores, act in avant-garde theatre, and work in coffee shops.
Immigrant grandfather in Joseph Epstein’s Snobbery: The American Version
Wednesday, June 1, 2011
The next generation’s Live First, Work Second, work ethic is not some out-of-nowhere, cosmic, egotistical self-expression.
Wednesday, June 1, 2011
It’s a natural next step in a generation-after-generation progression of economic life in developed societies.
Wednesday, June 1, 2011
Maslow’s Heirarchy of Needs
Millennials
Gen X’ers
Boomers
Silents
Wednesday, June 1, 2011
Silents, b. 1925-1942•Turning 69-86 years old in 2011•Safety Needs•Came of age during Great Depression & WWII•Roosevelt’s “The New Deal” ensured adequate income to secure food, housing, etc.
Wednesday, June 1, 2011
Silent’s secured “Safety Needs” allowing Baby Boomers to set their sights higher up the hierarchy…
Wednesday, June 1, 2011
Baby Boomers, b. 1943-1961•Turning 51-68 years old in 2011•Belonging Needs•Came of age during Vietnam, Woodstock, MLK•First workaholics, current executives•Most believe young talent should place same importance on work as they do
Wednesday, June 1, 2011
In a Boomer world, everyone belongs.
This paved the way for the independent Generation X...this first “next generation”.
Wednesday, June 1, 2011
Generation X, b. 1962-1981•Turning 30-49 years old in 2011•Esteem Needs•First latchkey kids as both parents worked•Value independence and freedom.•Mavericks, go-it-alone mentality
Wednesday, June 1, 2011
In our communities, Gen Xers fierce independence has caused a dwindling of civic and social clubs - think Rotary.
At work, Gen Xers are sometimes more likely to question their leaders than follow them.
Wednesday, June 1, 2011
Millennials, b. 1982-2001•Turning 10-29 years old in 2011•Self-Actualization Needs•Grew up with scheduled activity-after-activity•Strong parent advocacy...”you are special”
Wednesday, June 1, 2011
To self-actualize, Maslow says:
Teach people to be authentic, to be aware of their inner selves and to hear their inner-feeling voices.
Wednesday, June 1, 2011
To self-actualize, Maslow says:
Teach people to be authentic, to be aware of their inner selves and to hear their inner-feeling voices.
Wednesday, June 1, 2011
To self-actualize, Maslow says:
Teach people to transcend their cultural conditioning and become world citizens.
Wednesday, June 1, 2011
To self-actualize, Maslow says:
Teach people to transcend their cultural conditioning and become world citizens.
Wednesday, June 1, 2011
To self-actualize, Maslow says:
We should help people discover their vocations in life, their callings, fates, or destinies. This is especially focused on finding the right career and the right mate.
Wednesday, June 1, 2011
To self-actualize, Maslow says:
We should help people discover their vocations in life, their callings, fates, or destinies. This is especially focused on finding the right career and the right mate.
Wednesday, June 1, 2011
To self-actualize, Maslow says:
We should refresh consciousness, teaching people to appreciate beauty and the other good things in nature and in life.
Wednesday, June 1, 2011
To self-actualize, Maslow says:
We should refresh consciousness, teaching people to appreciate beauty and the other good things in nature and in life.
Wednesday, June 1, 2011
Why does the next generation matter?
Wednesday, June 1, 2011
Demographics
Economics
Psychographics
Wednesday, June 1, 2011
1. Economics:
Shift from goods based to knowledge based economy
Wednesday, June 1, 2011
Founded 2005Founders: Steve Chen, Chad Hurley, Jawed KarimAge: 27, 29, 26
Wednesday, June 1, 2011
Founded in 2004Founder: Mark ZuckerbergAge: 20
Wednesday, June 1, 2011
Founded in 2006Founder: Jack DorseyAge: 30
Wednesday, June 1, 2011
2. Demographics
The greying of our workforce
Wednesday, June 1, 2011
Wednesday, June 1, 2011
In developed countries, the dominant factor will be...the rapid growth in the older generation, and the shrinking of the younger generation.
Peter Drucker, Managing in the Next Society
Wednesday, June 1, 2011
Wednesday, June 1, 2011
Wednesday, June 1, 2011
In the U.S., 10,000 people are turning the age 65 everyday.
US Bureau of Labor Statistics
Wednesday, June 1, 2011
-20
0
20
40
60
Age 35-44 Age 45-54 Age 55-64
52
21
-10
2010 Percentage Change of Age in US Workforce
Wednesday, June 1, 2011
3. Psychographics:
Next-gen chooses & lives differently
Wednesday, June 1, 2011
Lives First, Works SecondWhere I live is as important as where I work.
Wednesday, June 1, 2011
Are free agents.By the time I’m 32, I’ll have had up to nine jobs.
Wednesday, June 1, 2011
Tech-savvy.
Are skeptical.More people under 40 believe they will see a UFO than receive Social Security.
Wednesday, June 1, 2011
Tech SavvyWork that can be done over a wire can be done anywhere.Tech SavvyWork that can be done over a wire can be done anywhere.
Wednesday, June 1, 2011
Life online is LifeSocial world is an online world
Wednesday, June 1, 2011
30 is the new 20Adulthood has been pushed back
Wednesday, June 1, 2011
Millennials have grown up with “parent advocacy”.
Wednesday, June 1, 2011
60% of Millennials in their 20’s receive support from parents.
Wednesday, June 1, 2011
How can we attract and engage young talent?
Wednesday, June 1, 2011
Intentional DesignWhat if we (re)designed our workplaces & cities with the next generation of leaders in mind?
Wednesday, June 1, 2011
Build on your assets and invest in the amenities that matter to your target demographic.
Wednesday, June 1, 2011
Jobs are one of the SEVEN factors young talent weigh when choosing their place to live.
Wednesday, June 1, 2011
However, its the RIGHT job and RIGHT work culture that matter most to young talent...
Wednesday, June 1, 2011
We’ve interviewed and surveyed over 50,000 executives and young employees and here’s what we’ve learned...
Wednesday, June 1, 2011
People Profit
The evidence behind Next Companies® shows that people-centered practices can be profitable, and that profitable
businesses can be people-centered.Wednesday, June 1, 2011
What do you want your employees to be “homesick” for?
Six Dimensions of Engagement
51
Wednesday, June 1, 2011
TrustWednesday, June 1, 2011
We are who we say we are!Wednesday, June 1, 2011
Trust in the workplace means...Managers believe employees want to be productive.
Employees are enthusiastic and passionate about their work and the company’s mission.
People cooperate and collaborate, leading to positive workplace interactions, higher profits, and greater productivity.
Wednesday, June 1, 2011
ManagementMy manager gets the best work out of everyone on our team.
Wednesday, June 1, 2011
In their groundbreaking research outlined in First Break All The Rules, authors Buckingham and Coffman state: Talented employees need great managers.
How long an employee stays and their productivity is determined by their relationship with their immediate supervisor
Wednesday, June 1, 2011
In our research among 20-40 year olds, when asked, “Why did you leave your last job?” the most common responses all fall into one category:
bad management
Wednesday, June 1, 2011
Trust and ManagementThe Foundation of a Next Company
Wednesday, June 1, 2011
Life-Work BalanceI can have a life and a career.
Wednesday, June 1, 2011
People under 40 are twice as likely to rate Life-Work Balance as their number one.
Wednesday, June 1, 2011
When asked what their “ideal hours” would be, most Millennials (67%) chose 40 hours per week.
NGC Panelist Survey 2009
Wednesday, June 1, 2011
For Millennials, Life-Work Balance means:
1) Flexible hours (e.g. compressed work week)
2) A fair and reasonable workload
3) The option to work from home
Wednesday, June 1, 2011
RewardsI am rewarded - with pay, perks(benefits), and pats on the back(recognition) - in line with my contribution.
Wednesday, June 1, 2011
Surprise them by noticing
Wednesday, June 1, 2011
DevelopmentI am expected and encouraged to learn and grow.
Wednesday, June 1, 2011
In terms of DEVELOPMENT...Challenging, non-repetitive work
Opportunities to assume leadership roles on projects
Employer support to pursue training, advanced degrees or certifications
Wednesday, June 1, 2011
At Google, employees are encouraged to work 20% of their time outside of their job description.
Wednesday, June 1, 2011
Connection I feel that I am a part of something bigger.
Wednesday, June 1, 2011
In terms of CONNECTION...Working for a company whose values and mission resonate with my own
Having pride in my job and my company
Working in a team environment
Wednesday, June 1, 2011
Trust
Life-Work Balance
Development
Rewards
Connection
Management
Wednesday, June 1, 2011
Importance of dimensions based on Life-stage
Wednesday, June 1, 2011
Age & Gender
Years of experience in field
Years of experience in organization
# and age of children
# and age of adult dependents
Martial status
Supervisor status
Employment status of spouse/partner
Race/ethnicity
Income
Wednesday, June 1, 2011
Younger, less experienced workers value life-work balance & development more.
Wednesday, June 1, 2011
Men favor rewards & women favor balance more.
Wednesday, June 1, 2011
Life-work balance is significantly more important for parents with young children.
Wednesday, June 1, 2011
Top 3 Young Talent Magnets:Compensation / Rewards
Flexible Schedules / LWB
Learning Opportunities / Development
Wednesday, June 1, 2011
Tips for recruiting the next generation
Wednesday, June 1, 2011
Think beyond college job fairs:
Wednesday, June 1, 2011
Think beyond college job fairs:
Wednesday, June 1, 2011
Think beyond college job fairs:
Wednesday, June 1, 2011
Think beyond college job fairs:
Wednesday, June 1, 2011
Visiting a location and getting to feel what it would be like to work and live in that atmosphere. Meeting people that I would be working with. Emphasizing how the company is involved in the community.
27-year-old female
Wednesday, June 1, 2011
Quality of place plays a key role in your recruitment efforts.Capitalize on your community’s distinctiveness
Wednesday, June 1, 2011
Seven Indexes to measure quality of place
Wednesday, June 1, 2011
COST OF LIFESTYLECan I afford to live here?
Cost of LifestyleCan I afford to live and play here?
Wednesday, June 1, 2011
EarningThe quality and diversity of job and career opportunities.
Wednesday, June 1, 2011
VitalityDoes the community value a healthy lifestyle?
Wednesday, June 1, 2011
LearningIs this a “smart” community, and one that values ongoing education?
Wednesday, June 1, 2011
Around TownHow easy is it to get around - and in and out of - town?
Wednesday, June 1, 2011
After HoursWhat’s there to do after work, and on weekends?
Wednesday, June 1, 2011
Social CapitalDoes the community engage all people?
Wednesday, June 1, 2011
INDEX VALUE PERCEPTION + / -
COST OF LIFESTYLE 98% 78% -20%
EARNING 96% 52% -44%
VITALITY 93% 63% -30%
AROUND TOWN 91% 75% -16%
LEARNING 91% 73% -18%
SOCIAL CAPITAL 87% 48% -39%
AFTER HOURS 87% 63% -24%
Young Talent Ranking of Indexes
Wednesday, June 1, 2011
BottomlineGreat talent drives economic prosperity.
Talent clusters in the cities & regions that have the assets and amenities they value and the companies that value them.
Wednesday, June 1, 2011
Look at the...Policies
Attitudes
Behaviors
Social Networks
How do you embrace the LFWS mindset?
Wednesday, June 1, 2011
Twitter: mfoleyngc
Resource Page: http://tinyurl.com/LFWS-FrederickSHRM
Wednesday, June 1, 2011