Generation Y and Generational Differences

Multigenerational Awareness – The Impact Now and in the Future Why generations matter. Roy Mark Total HRM 07736 631834

the job you are likely to be doing in ten years time may not exist yet

“ Each generation is a new people.” Alexis de Tocqueville 1805-1859 We have 3 generations working side by side and in the next 3 years will have 4; all responding differently to varying management and communication styles

‘ Idealist’ ‘ Reactive’ ‘ Members’ ‘ Adaptive?’ ‘ Baby-Boomers’ 1943 – 63 Gen. X 1964 – 81 Gen. Y 1982 – 1996 ‘ Millennials’ 1997 – 2222?

Baby-Boomers (47-67 yr old) Ethos: hard work; loyalty; rewards Organisational and careerist (ladder climbers). Define themselves by work achievements and social status. Often worked for only one or two employers in their lifetime Was largest generation in history - 35% of workforce Defined by post-war optimism and values Family-orientated Idealistic and altruistic. Socially liberal; politically conservative. Chief goal is now comfortable retirement

Generation X (29-46 yr old) Loyal (fixed) to a profession, but not necessarily to an employer. Impacted by the decline of traditional industry Blurring of traditional boundaries (class, economic mobility, etc). Confident and independent, but concerned about work-life balance. End of Cold-War certainties. Lack of clarity – at home (M/F role), work and in the world. Grew up during a time of strong political leadership. Largest group now in the workforce. ‘ Digital Converts ’.

Gen Y– characteristics (14–28 yr old) Connected …24/7 Blurred home/work boundaries (known as ‘whole-you’ rather than ‘work-you’+’home-you’) Self-confident Optimistic Independent(?) Bored by routine Do not define themselves by job or organisation but by their people network and lifestyle Entrepreneurial Goal oriented ‘ Digital Natives ’

Gen. Y – Expectations and Aspirations Lots of Change, Challenge and Choice (work and play) Not committed to one organisation or necessarily one career Need a sense of purpose and meaning Access to mentors and other company champions Need to feel they can influence earnings Open social networks that embrace open / honest communication Solutions are often technology based Flexibility Motivational leadership Career ‘brands’ which offer creative/visionary future Casual employee/manager relationship (see managers as peers not superiors) Coaching and mentoring (often) Require frequent feedback Opportunities for learning and developing Interesting work On-going development and support Facilitated and experiential learning Face-face learning rather than e-Learning (??)

USA Dept Employment estimate that today's students will have 10-14 jobs by the age of 38 Succession planning usually assumes a single employer!

The top 10 in-demand jobs in 2010……… … . did not exist in 2004!

Young Engineers View on Future Service

SOURCE: Bibb, S., Walker, S., James, J. (2008). Do our primary learning methods fit ?

Succession Planning Considerations Generation ‘X’ Looking for a plan Looking for a path Looking for career direction Succession planning focused on; Identifying talent Replicating proven competence sets Operating within a relatively stable business environment Identifying and developing talent from a retained and available talent pool Generation ‘Y’ Give me a reason to stay (return) Give me options and alternatives Give me control of my career Succession planning will need to; Address a constantly and rapidly changing business and technical environment, with increased global competition An adaptive competency framework (what worked in the past may not in the future?) A demanding and more mobile workforce

Questions? How do we identify career paths for jobs that may not exist in 10 years or without knowing what they may be replaced by ? How do we ensure the Talent management process blends the needs of the ‘Y’ generations values with BAE’s needs, and ‘X’ Generation managers? Do we need to do anything different - yet?

Falling Desire for Jobs with Greater Responsibility Source: Generation & Gender in the Workplace , An Issue Brief by Families and Work Institute 1992 2002

Lower Alignment with the Organization Source: The New Employee/Employer Equation , The Concours Group and Age Wave, 2004

In 2000, A Fairly “Young” World . . . Source: U.S. Census Bureau Percent of Population Age 60+ in 2000 Under 5% 5% to 12.4% 12.5% to 20% Above 20%

. . . Rapidly Aging by 2025 Source: U.S. Census Bureau Percent of Population Age 60+ in 2025 Under 5% 5% to 12.4% 12.5% to 20% Above 20%

UK Changing Workforce Patterns Age Profile Fewer younger workers entering work Declining mid-career workers Rapid growth in over 55’s Contributory Factors (affecting skills retention) A more mobile Generation Y population Generation X early retirement aspiration Decline of single employer/location roles End of final salary pensions and benefits Continuous job content re-invention

Shifting the Old Work/Life Paradigm . . . Education Work Leisure Age Source: Demography is De$tiny , The Concours Group and Age Wave, 2003 0 10 20 30 40 50 60 70 80

. . . To a “Cyclic” Life Paradigm Education Work Leisure Source: Demography is De$tiny, The Concours Group and Age Wave, 2003 0 10 20 30 40 50 60 70 Age 80

. . . Evolving to a “Blended Lifestyle” Education Work Leisure Source: Demography is De$tiny, The Concours Group and Age Wave, 2003 0 10 20 30 40 50 60 70 Age 80

Cutting Back Has New Meaning: Cyclic Work The most popular pattern for working after “retirement” is not part-time, but moving back and forth between periods of working and not working. Source: The New Employee/Employer Equation , The Concours Group and Age Wave, 2004

Generation Y and Generational Differences

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