X Baby Boomer Millennial What’s Your Generation?

How would business leaders describes Millennials? Why did you choose this session?

Richard Rittmaster MTS Systems Megan Gardner LEGO Systems Inc. Amanda Marschall LEGO Systems Inc. Millennial

GenerationYear BornAge RangeCharacteristics Silent Disciplined, Self- Sacrificing, Cautious, Practical. Baby Boomers Optimistic, Driven, Team-Oriented. Generation X Cautious, Skeptical, Self-Reliant. Generation Y Millennials Hopeful, Focused, Innovative. Generation ZAfter and younger

Myths v Reality Millennials are entitled Millennials lack focus Millennials work differently Graph 2 from Aon Hewitt – formally Modern Survey

It is time to stop worrying about leading Millennials and start worrying about developing Millennials for leadership.

Entitled Empowered Attract Develop Retain Inspire

Less Experienced Different Leadership Views Reputation Unprepared High Turnover

Motivation Hands On Experience Knowledge Transfer Generation X Millennials Baby Boomers

How do generations work more effectively together?

From: Dealing with Generations in the Workplace To: Leveraging Generations in the Workplace How Can Generations Work More Effectively Together?

Knowledge Transfer is more than on-the-job training. Knowledge Transfer is replicating the expertise, wisdom, and tacit knowledge from employees into the heads of co-workers. From: Dealing with Generations in the Workplace To: Leveraging Generations in the Workplace Knowledge Transfer How Can Generations Work More Effectively Together?

Developing A Knowledge Transfer Strategy 1.Identify the knowledge holders. 2.Motivate these individuals to share. 3.Design the process(es) to facilitate the transfer. 4.Execute the plan. 5.Apply the knowledge transferred. The knowledge holders are, essentially, everyone in your organization.

Remember the business case- we are heading for a big leadership shortage.

Knowledge Transfer Across Generations Motivate Individuals to Share: –Company Competencies –Leverage Intrinsic Motivators (building relationships, deepening one’s technical expertise, equate knowledge transfer with expertise) Design Processes to Transfer Knowledge –Create a modern mentoring program –Explore competency maps –Develop a knowledge silo matrix

Motivating Knowledge Transfer: Create the expectation through company competencies. Starkey - Mentoring next generation leaders Plays an active role in personally developing key talent within his/her organization. Regularly and consistently spends time with critical talent and emerging leaders to provide coaching, support and counsel. Knows by name, those who have the potential to be next generation leaders. Orchestrates opportunities for emerging leaders to demonstrate their capability, raise their visibility, learn from challenge and prove their readiness for advancement. Acts as an advocate and champion for emerging leadership talent.

Motivating Knowledge Transfer: Take advantage of intrinsic motivators Building Relationships –Relationships serve as the foundation for any knowledge transfer activity. Deepening One’s Technical Expertise –Participating in Knowledge Transfer improves one’s technical understanding of a subject. Knowledge Transfer = Expertise –Leading a Knowledge Transfer can be a form of recognition –Requires a certain level of autonomy, competence

Processes To Transfer Knowledge: Modern Mentoring Program what it is Mentoring, but modernized. Modern mentoring strategies include: Reverse mentoring, Peer Groups why it helps Millennials are highly educated in the most current skillsets. Also, Millennials also want to give back, and believe that they can make an impact. risks/limitations Traditional mentoring, or the, “you listen to me” mentoring, won’t work. It is critical that this mentoring be viewed as collaborative.

what it is Document defining the specific, diverse experiences needed to excel in a role or function why it helps By outlining the specific, diverse experiences needed to excel in a role/function, organizations can choreograph how knowledge is transferred via projects, experiences. risks/limitations The quality of the knowledge transfer taking place is equal to the quality of the experience. (easy, mundane experience equates to minimal knowledge transferred) Processes To Transfer Knowledge: Experience Maps

Processes To Transfer Knowledge: Knowledge Silo Matrix what it is Document defining what knowledge needs to be transferred, who has said knowledge, and who needs said knowledge. why it helps There are many areas that an organization might want to focus on when transferring knowledge. This ensures that the correct knowledge holders and receivers are identified, and that the transfer activities are being executed. risks/limitations Simply because a knowledge holder and a knowledge receiver meet and talk does not mean that true knowledge transfer has taken place. Encourage transfer events to follow the model to maximize the amount of knowledge being transferred.