2. Generational Identity in the Workplace Motivating, Rewarding and Recognizing Employees November 25, 2008 Dr. Judy Laws Graybridge Malkam

3. Agenda –Generational differences on the job –What can be done to motivate, reward and recognize all 4 Generations?

4. Disclaimer Different generations require different approaches But be careful not to stereotype – “generations” is just one lens that can be used to help understand people. It is not the only lens.

5. Managing Generational Differences – True or False? 1.Gen Y professionals want to hear from their managers at least once a day. 2.The statement “”Who is in charge?” reflects the baby boomer generation? 3.Older employees are more likely to be engaged in their work than younger ones. 4.Younger workers have no work ethic. 5.Change is more the rule for Generation X than any other generation. 6.The majority of generational conflicts occur from value differences of the age groups. 7.Work ethic is not a source of generational conflict. 8.Veterans and Baby boomers want their experience and expertise they bring to the workplace respected. 9.Work that is personally fulfilling is found to be one of the top five work value priorities for Generation Y. 10.One way to effectively manage a multi-generational workforce is to facilitate mentoring.

6. Generational Differences on the Job

7. Veteran – Mindset Strong work ethic Stable and dedicated Loyal Comfortable (and prefer) top-down management Duty before pleasure Respect for institutions and leaders

8. Veteran – Motivators Work is a privilege Hard work and sacrifice pay off Seek direction, clear goals and measures Want to be shown respect “Recognize my position”

9. Baby Boomers - Mindset Go the extra mile Team-oriented (“Let’s figure it out together”) Value education Problem solvers Service to community Career–focused, find identity in their work Want to do better than their parents and provide for their children

10. Baby Boomers - Motivators Security Accreditation/education Respect Financial rewards, promotions, career paths “Recognize my achievements”

11. Generation X - Mindset Work/Life Balance Independence (“Let me figure it out”) Responsibility and accountability Not driven by career paths Creativity Dislike micro-management and formality

12. Generation X - Motivators Life management, flexibility Responsibility = Power Skills development Freedom and independence Opportunities for change New projects, challenge “Recognize my contribution”

13. Generation Y - Mindset Embrace technology Expect collaborative environments Tolerant of diversity Able to multi-task, deal with rapid change Want to make a difference Honest, speak their minds Finding a new job is easy

14. Generation Y - Motivators Access to technology Constant feedback Important work and visibility Mentoring Promotions Speed “Recognize my capabilities”

15. Top 5 Priorities for Each Generation VeteransBaby BoomersGeneration XGeneration Y 1.Work that is compatible with one’s moral values 2.Fairness in policies and procedures 3.Work that is personally fulfilling 4.Flexible hours of work 5.Work that makes use of their abilities/sense of accomplishment (tie) Theme: Want to stay relevant and leave behind a legacy 1.Work-life balance 2.Good Benefits 3.Work that is compatible with one’s moral values 4.Work that is personally fulfilling 5.Interesting work Theme: Need to find meaning and balance in their work 1.Interesting work 2.Work-life balance 3.A good salary 4.Flexible hours of work 5.Intellectually stimulating work/opportuniti es for continuous learning Theme: Need to be challenged and always keep learning 1.A good salary 2.Opportunities for advancement 3.Interesting work 4.Work-life balance 5.Good benefits Theme: Want to be taken seriously as contributors

16. The Meaning of Money Money means different things to the generations: –Veterans: hard work and security –Boomers: recognition and status –Gen Xers: freedom and independence –Gen Y: the means to maintain their lifestyle

17. Managing Generational Differences

18. Round Table Discussion: 1.What are the biggest challenges you face with managing generational differences in the workplace? 2.Reach consensus on the top 1 - 3 practical strategies that could be taken to address generational differences in the workplace.

19. 10 Effective HR Practices 1.Enable Mentoring – Forward and Reverse 2.Retain retirees with flexible work arrangements 3.Baptisms by Fire – Challenging first assignments 4.Developmental Learning Plans – Opportunities for learning and re-curving 5.Job rotation, sabbaticals and secondments - provide change and variety

20. 10 Effective HR Practices 6.Culture of balance and workload sanity – face-time does not equal effort 7.Flexible benefits & rewards – tailor to all generations 8.Developmental feedback system – more feedback for younger workers, less for older 9.Relationship-based HR– build and leverage inter-employee and employee-supervisor relationships 10. Sponsor employees’ community involvement

21. To Recruit & Retain Gen Xers and Gen Y… Focus on learning and advancement Meaningful participation, not just ‘dues paying’ Build in change and variety Enable multitasking Provide ongoing developmental feedback Remember: loyalty is reciprocal Build in opportunities for entrepreneurship Focus on ‘fun’ …their idea of fun.

22. Loyalty is Dead! The bad news: You cannot expect younger workers to be loyal to their employer The good news: Loyalty is not the only kind of commitment… nor is it the most important. Create committed and engaged workers by fostering attitudinal commitment

23. To Satisfy Boomers and Veterans: Focus on the meaningfulness of the work –‘Sell’ the aspects of the work that makes a contribution to society –Help them find personal fulfillment through work –Build altruism into the workplace, even if the work lacks it. Corporate philanthropy has many benefits Reward their loyalty – it’s a valuable asset to them and the organization

24. Other Considerations Good pay, benefits, flexibility of hours, work-life balance and interesting work are all basic requirements. Don’t know what employees want? ASK THEM! You might be surprised by their answers. When managing a younger generation of employees, ensure that their preferences for a cooperative and affiliative workplace are met. Irrespective of whether it relates to generational or age differences, the need to provide younger workers with challenges remains important.

25. Wrap-up

26. Managing Generational Differences – True or False? 1.Gen Y professionals want to hear from their managers at least once a day. 2.The statement “”Who is in charge?” reflects the baby boomer generation? 3.Older employees are more likely to be engaged in their work than younger ones. 4.Younger workers have no work ethic. 5.Change is more the rule for Generation X than any other generation. 6.The majority of generational conflicts occur from value differences of the age groups. 7.Work ethic is not a source of generational conflict. 8.Veterans and Baby boomers want their experience and expertise they bring to the workplace respected. 9.Work that is personally fulfilling is found to be one of the top five work value priorities for Generation Y. 10.One way to effectively manage a multi-generational workforce is to facilitate mentoring.

27. Utilize the ACORN Strategy Accommodate employee differences – treat employees as you do your customers working to meet their specific needs and serving them according to their unique preferences. Create workplace choices – Allow the workplace to shape itself around the work being done, the customers being served, and the people who work there. Operate from a sophisticated management style – Sophisticated managers tend to give those who report to them the big picture, specific goals and measures, then they turn their people loose – giving them feedback, reward and recognition as appropriate. They use a situational leadership style to accommodate workplace situations and issues as they arise Respect competence and initiative – Treat everyone, from the newest employee to the most seasoned employee, as if they have great things to offer and are motivated to do their best. Nourish retention – Acknowledge that there is a labour shortage and make retention an everyday focus. Make your workplace a workplace of choice by offering lots of training and development opportunities, rewards and recognition.

28. Final Thoughts Be aware of differences and their sources – don’t project (Boomers – that means YOU!) Different generations require different approaches – one size fits one! Remember that there are FOUR generations to manage Be careful not to stereotype – these are generalizations, not psychological profiles