Molding Tomorro w’s Internal Auditors

1. Molding Tomorrow’s Internal Auditors Danny M. Goldberg, Founder

2. Managing Generation Gaps

3. What Generations Exist In The Workplace

4. Baby Boomers Generation has members that were born between 1946 and 1964 “Each generation goes further than the generation preceding it because it stands on the shoulders of that generation.”- Ronald Reagan

5. Their Working Style

6. Generation X Born between 1964 and the mid to late 1970s Technology as part of their life (seen the evolution) More exposure to day care Live through tough times Two-income/single-parent “Each generation imagines itself to be more intelligent than the one that went before it, and wiser than the one that comes after it.” - George Orwell

7. Their Working Style

8. Generation Y Born between 1979 and 1994 Technology = normalcy Teams & Groups “Nothing so dates a man as to decry the younger generation.”- Adlai E. Stevenson

9. Their Working Style

10. Millenials Born between 1982 and 2004 Unique approach to work/life Tech-savvy (highly connected) Instant gratification/feedback Recognition Team Oriented/Collaborative

11. Millenials Influences Major Figures President Barak Obama Backstreet Boys Oprah Winfrey Britney Spears Mia Hamm Serena & Venus Williams Mother Teresa • Fall of the Berlin Wall • Events of September 11th • Connected 24/7 • iPod, iPad, Smart Phones • Violence Close to home • Drugs and gangs • Hurricane Katrina • Virginia Tech Shooting

12. How Do Millennials Differ from Other Workers?

13. Let Them Be Themselves!

14. Engaging Millenials

15. Engage Employees One on One

16. Differentiations Between Generations Learn the differences between the generation gaps on the following topics: Background Attitude Working style Life experience “That which seems the height of absurdity in one generation often becomes the height of wisdom in another.” - Adlai E. Stevenson

17. Background

18. Attitude

19. Working Style

20. Bridging the Generation Gaps • Appreciate differences • Acknowledge your interdependency • Appreciate what you have in common • Accept and appreciate another’s perspective • Take responsibility for making your relationships better • Discuss expectations • Inquire about immediate tasks • Look for ways to cut bureaucracy and red tape • Keep up with technology

21. Every Generation Wants: • To be treated fairly • Work that provides personal satisfaction • Employers who understand personal lives are important • Work that is valued by employers and customers • Clear sense of purpose from employers

22. Setting Expectations with the Millennial Employee

23. Define Requirements – Provide Specific Instructions

24. Mentoring the Millennial

25. Stats on Mentoring (cont) • Retention rates are higher for mentees (72%) and for mentors (69%) than non-mentoring participants (49%). (Sun Microsystems) • People are 77% more likely to stay in a job if they are in a mentoring relationship—particularly your younger generations. 35% of employees who do not receive regular mentoring look for another job within 12 months. (Emerging Workforce study by Spherion, 2012) • 83% of professionals would like to be involved in a mentoring program, yet only 29% are in workplaces that offer them. (Robert Walters Recruiting) • Mentoring increases learning retention: With mentoring managerial productivity increased by 88% verses 24% with training alone. (ASTD) • Mentoring helps keep valuable employees: Over 40% of internal job moves involving high potential employees end in failure. (Harvard Business Review). Losing employees costs 100-300% of the replaced employee’s salary. (Society of Human Resource Management) • Mentoring fills your leadership pipeline: Employees who received mentoring were promoted 5 times more often than those who did not. (Forbes). Mentors were 6 times more likely to be promote. (Forbes) • Seventy-five percent of millennials want a mentor, and 58 percent of them turn to baby boomers first for advice. (HireVue)

26. Be Hands-On and Involved

27. Be a Mentor, Not an Authority Figure

28. Focus Millennia’s Exploratory Drive on Work

29. Provide Specific Benchmarks

30. Set Boundaries & Provide Reality Checks

31. Guide, Don’t Dictate

32. “You learn more from from failure than you ever do from success.” Unknown Providing Feedback

33. Providing Constructive Criticism

34. Phrases to Avoid When Giving Feedback • “I Was Surprised/Confused/Curious About…” • What the Person Hears: “You’re Wrong.” • What to Say: “I thought X was different, because Y. Can you walk me through your steps?” • “Oh, I Thought You Understood…” • What the Person Hears: “You Did it Wrong Because You’re Don’t Know What you are Doing.” • What to Say Instead: “You took this in a different direction than I initially intended, but let’s talk about what you found, see if we can make this work, and if not, what the next steps will be.” • “Actually….” • What the Person Hears: “I Think You’re an Idiot.” • What to Say Instead: In this case, you can actually just remove the actually from whatever you’re about to say. Being—or appearing—passive aggressive can really sneak up on you. When we try to minimize criticism, things can easily go awry. Rather than couching your constructive criticism in confusing language, just come out and say it—politely.

35. How Do We Engage Staff Critical Thinking Skills?

36. Engaging Critical Thinking • Starts with Management team • Blank Sheet Brainstorming • Use their Differences as Strengths • Need guidance (not checklists) • Root Cause guidance • Be Factual

37. Management Team • Is the Management Team open to critical thinking? • Budgets • “Do It My Way” • ”It’s Always Been Done this Way” • Critical Thinking is a Two-Way Street: • Staff/Seniors must be confident • Manager/Directors must have an open mind and be open to upward feedback/new ideas • Do not always spoon-feed your team

38. Blank Sheet Brainstorming • Engagement Planning • No Saly! • Do not look at last year’s file until we have formulated an opinion on the objectives/risks, etc.

39. Differences as Strengths • Put them in positions to be successful • Can we utilize staff in more effective means (intro vs extrovert, etc)? • Open to feedback on process • Open to WHY questions

40. Guidance v Checklists • How can balance be struck? • General vs specific checklists?

41. Stick to the Facts • Validate the Viewpoint – Adopt the Viewpoint (need proof) • Explain What/Why • Get Buy-In

42. Creating Great Habits Now!

43. Creating Great Habits • Understand expectations • Discuss expectations • Understand what the next step looks like • Explain why you are asking for X or Y • Reward good great behavior

44. Gold Nuggets • Understand how to interact with the next generation (meet somewhere in the middle) • Derive benefit from what they are doing (WIIFM?) • Actively coach/mentor – look for your replacement!