Connecting to a Changing Workforce

1. Connecting to a Changing Workforce Building Engagement across Diverse Generations Facilitated by: Margaretta Noonan February 24, 2012

2. Connecting to a Changing Workforce Building Engagement across Diverse Generations Facilitated by: Margaretta Noonan February 24, 2012

3. Connecting to a Changing Workforce Today’s shared learning: • Four generations at work. • Shifting demographics, defining events. • Millennials, the next generation of talent.

5. Where Does Your Organization Stand… • On a scale of 1–5 (with 5 being very well), how well do you connect and engage with the younger generation of women within your organization?

6. Four Generations at Work MatureGeneration Baby BoomGeneration Millennial Generation Generation X Born: 1925-1945 Age: 66-86 Born: 1946-1964 Age: 47-65 Born: 1965-1977 Age: 34-46 Born: 1978-1994 Age: 17-33

7. What’s Next? Generation Z Born: 1995-Present Age: 0-16

8. The Big Picture – Generations in the U.S. ? Source: U.S. Census Bureau, 2010 Current Population Survey

9. Women’s Labor Force Participation Rates Selected Countries, 1970 - 2009

10. Generational Cohorts • Born around the same time. • Share distinct, historical events during critical development years (coming of age). • Each generation is influenced by broad forces. • Shapes their view of the world and stays with them forever. • Events become anchor.

11. Defining Events

12. Defining Events

13. Defining Events

15. Millennial Stats • 18-to-29-year-olds are unemployed or out of the workforce at the highest rate in more than three decades. • Among 18-to-24-year-olds, 39.6% were enrolled in college as of 2008. Millennials are on course to become to most educated generation in American history, most likely accelerated by unemployment. • One-in-five Millennials (21%) are married, half the share of their parents’ generation at the same life stage. Source: Pew Research, Millennials: Confident. Connected. Open to Change., February 24, 2010

16. Building on Sand

17. Millennial Stats • Millennials make up about 35% of today’s workforce. • How long the young and talented stay and how productive they are is determined by their relationship with their manager. • Managers blame difficulties among teams in the workplace to different levels of experience; sometimes the issues are more related to generational differences. Source: Next Generation Consulting, 3 Realities in Managing Millennials, October 5, 2011

18. Employers’ View of Millennials • Confident, trusting and teachable. • Change jobs frequently. • Perform superbly when given clear goals and allowed to work in groups. • Treat coworkers as partners rather than rivals. • Use their digital access to build close peer bonds. • Communicate differently (texting, tweeting, social networking). • Rely heavily on their parents. Source: Howe, N., Strauss, W., The Next 20 Years, Harvard Business Review, July-August 2007

19. Recruiting Millennials • Millennials are opportunity driven, seeking changes for career enhancement over greater salary or a more secure job. • Offer a variety of career paths. • Consider all aspects of “What is it like to work here?” when recruiting Millennials. • Prioritize areas that are most important to change; have programs for increased training, trusting, teaching and teamwork.

20. Retaining Millennials • Provide opportunities to contribute. • Foster a culture of respect that extends to all employees. • Examine career development and fostering opportunities offered to younger employees. • Encourage the rapid development of Gen Y talent and create incentives for seasoned workers to act as mentors to young professionals.

21. Outcome From Today’s Shared Learning: It’s about building greater engagementand better connectionswithin your workplace.

22. Connecting to a Changing Workforce Building Engagement across Diverse Generations Facilitated by: Margaretta Noonan February 24, 2012