Working With Multiple Generations

Current Workforce Veterans (52 Million) Baby Boomers (73.2 Million) Generation X (70.1 Million) Generation Y (69.7 Million)

Generations In Conflict

They have no work ethic. If you are looking for loyalty, buy a dog. At his age, I was grateful to have a job. She wants a career map. Do you have an address? Yes, since you were in diapers. Just started and wants a promotion!

…..dominant factor in next society Growth of older population Shrinking population of younger generation Peter F. Drucker

US population – 250 Million with greater life expectancy

Life Expectancy 1907Men: 45.6 years Women 49.9 years 1960Men: 66.4 years Women 72.7 years 2007Men: 75.5 years Women 80.7 years

Demographic Realities Size of baby boomer generation Increasing longevity Declining birth rates

Every 8 seconds for the next 17 years 1 more baby boomer will turn 60 years old!

US Birthrates Was 3.7 children per woman Now 2 children per woman

Foreign Birthrates Italy 1.2 down 30% Germany 1.3 down 25% Japan 1.4 down 38%

Year 2010

10 million worker shortage

Over 25% of US businesses are unprepared for a changing workforce. Boston University Research

Today’s Mature Worker: 55 years of age or older Well educated and well off 53% of workers put family before work 68% of workers are satisfied with their job

AARP Poll, Mature Worker Will Stay Working: 87% want to be mentally active 85% want to be physically active 77% want to be productive or useful 71% want to do something fun 22% need money 17% need health benefits

FBI agents retire at age fifty-seven 40% of agents have less than five years experience

Retiring First Generation of Managers and Professionals Knowledge of complex technical systems Scientific domains Integrated work processes

Retirement Liabilities General Motors has over $60 billion in health care benefits to retirees General Motors has 2.5 retirees for each active employee 150 corporations have over $1 billion in health care liability

Keeping Employees in Workforce Duke Power – switch jobs of equal grade Lands’ End – two week job transfers General Electric – mid-career managers for overseas assignment

Two Keys to Create Multigenerational Workforce: Aggressive communication Difference deployment

Aggressive Communication Address generational issues head-on and validate different viewpoints

Difference Deployment Use employees with different backgrounds, experience, skills and viewpoints to strengthen project teams and organization

Workforce Trends

Average age of worker will continue to rise Older workers will double within 5 to 10 years Female workers will increase in numbers Racial and ethnic worker mix increasing Minorities account for one-third of younger workers

People will differ in how they integrate work and lifestyle Workforce declines 2 to 3% per decade Baby boomers retire causing drain of skills and experience Worker shortage

Hard to fill technical skill jobs More emphasis on education and training Workforce diversification means:  Flexible schedules  Telework  More technology

Generational Characteristics Veterans

Satisfaction from doing a job well Dedication / sacrifice Conformity / patience Appreciation for recognition of their experience Duty before pleasure Obey rules

Generational Characteristics Baby Boomers

Team work Equality Value personal growth Prefer face-to-face communication People skills

Generational Characteristics Gen Xers

Independent, less people skills Self-reliant Accepts diversity Multitask First generation latch key kids Cynical of employer-employee relationship

Generational Characteristics Gen Yers

Optimistic Self-inventive Individualistic Likes diversity Technology focused Give them a computer

Transitions

Boomers retiring and taking valuable knowledge with them Gen Xers moving into senior management Gen Yers moving into middle management Xers and Yers frequent job changes, seek opportunities rather than career ladder

Training

Boomers prefer classroom training Gen Xers prefer brief training with bullet points Gen Yers prefer technology-based training such as Web-based courses and one on one coaching Current trend to focus on technology and OJT experience

Generational Trends Boomers - listen, read manuals Xers and Yers – doing, trial and error

Xers and Yers want to build resumes as quickly as possible and move from job to job that satisfies them.

Xers and Yers Want to build resumes as quickly as possible and move from job to job that satisfies them Will accept mentoring or coaching from Veterans or Boomers to gain knowledge Are more interested in work-life balance than Boomers or Veterans

Organization Should Offer Flexible work schedule Technology use for mobile work force

Career Paths Boomers want vertical movement Xers and Yers want horizontal movement to broaden experience and build resumes

Yers Expect

Individual responsibility, freedom to make decisions Sociable and enjoyable colleagues and workplace Opportunities to learn and grow Opportunities to contribute right away

Lots of feedback Open communication Respect from older workers Pay for performance Flexible schedules and ample time off

Future?

Develop interpersonal skills Move from telling to asking Accommodate employee differences Create a flexible management style