Millennials, the Multi-Generational Workforce and their Impact on Law Firms

TraditionalistBoomers 1922 – – 1964 Gen XMillennials 1965 – Generational Groupings

Chronological birth is less important than shared beliefs, experiences and the perception of where one belongs As a child, you start developing a lens through which you interpret events and situations, often reinforced by your peers. Each generation shares a “common lens”. Generational groupings can be impacted by other factors like immigration from another culture Context

Traditionalists: 1922 – 1943 (also known as the Silent Generation) What is Valued:Defining Events: RespectThe Great Depression Hard workWW II LoyaltyKorean War Formality Following rules Hierarchy

What is Valued:Defining Events: CompetitionGI Bill OptimismVietnam The long good day work ethicPost War Boom Upward MobilityWealth Effect Team WorkCivil Rights ParticipationWomen’s Rights Boomers: 1944 – 1964 (The “Me” Generation) 85% of the Top 100 law firm Managing Partners are Boomers

What is Valued:Defining Events: Self RelianceWatergate PrivacyWorking Parents Work/Life BalanceLatch key kids TechnologyDivorce IndependenceDownsizing Skepticism Transactional relationships Generation X: 1965 – % of the Top 100 law firm Managing Partners are Gen X

What is Valued:Defining Events: DiversityBerlin Wall Social ResponsibilityGlobalization TechnologyThe Internet TransparencyDot Com Constant ContactTrophies / T-Ball Generation Optimism The Environment Millennials (1982 – 2002)

TraditionalistsBoomersGen XersMillennials EducationA dreamA birthrightA way to get thereAn incredible expense EntitlementSeniorityExperienceMeritContribution CommunicationWrite Me a LetterLet’s Have a MeetingSend Me an txtme FeedbackNo news is good newsOnce a year review with documentation More regular immediate feedback Individualized feedback at the push of a button – whenever I want it RewardSatisfaction of a job well done Money, Title, Corner Office, Recognition Freedom is the ultimate reward Work that has meaning for me! GENERATIONAL COMPARISON

PerceptionsMillennial Values Management EntitledRewardedDirecting Self-AbsorbedSpecialMotivating UnfocusedInformalIncenting IndifferentMeaningCultivating Lack of Loyalty Abrasive Managing Millennials

This information was updated on April 25, 2016, to indicate that Millennials have officially surpassed Baby Boomers in population.

Know how to communicate recognizing generational differences Know that we have more in common than we have differences between us How each generation may express their common values may differ Moving Forward

When Generations Collide – Lancaster & Stillman The M – Factor: How the Millennial Generation is Rocking the Workplace – Lancaster & Stillman Generations at Work: Managing the Clash of Boomers, Gen Xers and Gen Yers in the Workplace – Claire Raines & Ron Zemke Further Reading: