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Building on the Power of Generations in the Workplace

Building on the Power of Generations in the Workplace. Leading Across Generations. Rita Keller Keller Advisors, LLC. YOUTH & AGE. WHO. WHY. Becoming Future Ready. It’s About Your Culture Your People And YOU. “It is not necessary to change. Survival is not mandatory .”

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Building on the Power of Generations in the Workplace

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  1. Building on the Power of Generations in the Workplace Leading Across Generations Rita Keller Keller Advisors, LLC

  2. YOUTH & AGE

  3. WHO WHY

  4. Becoming Future Ready It’s About Your Culture Your People And YOU

  5. “It is not necessary to change. Survival is not mandatory.” --W. Edwards Deming

  6. For Accountants - A Culture of Urgency Ready. Aim. Fire. Ready. Aim. Aim. Aim. Aim. Fire! Fire! Fire!

  7. Help Your Workplace Become Future Ready A Generational & Societal issue

  8. Future Ready – Society Has Changed It’s not just about women… Mom & Dad negotiate responsibilities Families Need Flexibility!

  9. Future Ready Is About…. Understanding Generations

  10. “You can’t lead the generations until you stop trying to change the generations. It is only when you appreciate the generations and their differences that you unleash their full potential.” —Haydn Shaw 7

  11. Things We Will Talk About • The Talent Situation • The Four Generations • Generational Interaction • Generational Feedback • Closer Look at the Millennials & Gen Z • Leadership, Culture and Making it Work

  12. Our Purpose Today To gain a better understanding of how to unlock the potential of our firm’s most important asset.... its PEOPLE

  13. The Talent Issue - 2019 “The public accounting profession can, in the years just ahead, expand its role in our economy to levels never before reached… The problems of the profession in meeting the demands of the future are centered in its ability to attract and keep within its ranks qualified professional personnel.”John Jones - Georgia Society magazine 1961

  14. The Talent Battle

  15. Remember When?

  16. Jeffrey Sonnenfeld, Senior Dean at Yale’s School of Management “Founders’ memories of the early days also can hinder change. Nostalgia can be dangerous. A company is not a museum.” Your Firm is Not a Museum

  17. Leading Across Generations Understanding and Using The Power of Diversity

  18. “We are all different, which is great because we are all unique. Without diversity life would be very boring.” - - Catherine Pulsifer

  19. Where we are….. TWO WORDS

  20. What Really Happens with Accountants GOOD INTENTIONS NO IMPLEMENTATION

  21. ONE WORD During recent years there is a one-word dark cloud hanging over the accounting profession: Succession

  22. What Really Happens with Accountants • Talent is the profession’s only sustainable source of competitive advantage. • The key to your company’s continuing competitive success is building a culture that attracts, nurtures and retains talent - no matter what the generation.

  23. About relationships…. You know that “other”generation…. What’s the deal with them, anyway?

  24. Understanding… A Place to Start "One co-worker may remember when the color TV came out; the other one may only have known Netflix.” - - Jason Dorsey

  25. Our Generational Journey Begins Searching for Common Ground… Building for The Future…..

  26. Generations in the Workplace Boomer Millennial Gen X Gen Z

  27. THE FOUR GENERATIONS • The Baby Boomers (1946-64) The youngest turn 55 this year • Gen X (1965-80) The youngest turn 40 this year • Millennials (1981-96) • The oldest turn 39 this year • Gen Z (1997-2012) • The oldest turn 22 this year Per PEW Research

  28. Build on Understanding • How are they different from you? • How do they define success? • What are common characteristics?

  29. Achieve a Better Understanding Achieve a Better Understanding • Common generational characteristics • Leadership needs of each generation • How to bring out the best in all generations • The importance of building relationships across generations • It is really about individuals not generations

  30. Boomers at a Glance Boomers at a Glance Think of: Individuality The “Me” Generation Think of: The Beatles Bill Gates Oprah Winfrey Hillary Clinton

  31. Boomers – An Overview In control Huge numbers Intense work ethic Face time Competitive Teamwork Wondering

  32. Boomers in the Workplace • Believe in, judge others on, work ethic • Work ethic means hours worked • Believe in teamwork • Build relationships • Expect loyalty from co-workers

  33. Boomers and Retirement • Retiring at 10,000 per day • Hard for companies to plan: Retirement dates are a mysterious moving target • Nobody knows what “retirement” means anymore • Boomers in some industries will be very hard to replace

  34. Xers at a Glance Think of: Skeptical Reluctant Think of: Angelina Jolie Celine Dion Michael Dell Tiger Woods

  35. Xers An Overview Defined by others Pessimistic “Seize the day” It is up to me Reject work ethic Inherit positions Effective but different

  36. Xers in the Workplace • Avoid the do or die Boomer work ethic • Want open communication • Respect production over tenure • Value control of their time • Invest loyalty in a person, not a firm

  37. Millennials at a Glance Think of: Coddled Think of: LaBron James Mark Zuckerberg Daniel Radcliffe Lady Gaga

  38. Millennials An Overview Technology Affluent Protected Precious Cargo Self Confident Size rivals Boomers Look for role models

  39. Millennials in the Workplace • Search for a counselor to help them achieve their goals • Want open, constant communication • Work easily with older Boomers • Search for personal fulfillment in a job

  40. Gen Z at a Glance Think of: Influencer Think of: Millie Bobby Brown Malala Yousafzai Kylie Jenner Shawn Mendes

  41. Gen Z An Overview True Digital Natives Value Individual Expression Analytical Pragmatic Communaholic Realistic

  42. Gen Z in the Workplace • Appreciates lots of dialogue • Don’t want to be defined in just one way • Radically inclusive • Less idealistic than Millennials • Want job stability

  43. Boomers: Civil Rights Vietnam Sexual Revolution Roe vs. Wade Space travel Assassinations Events and Experiences Xers: • Fall of Berlin Wall • Watergate • Challenger explosion • The Gulf War • PC boom

  44. Millennials: School shootings Oklahoma City Technology Child focused world 9/11 Attack The Internet Helicopter parents Events and Experiences Gen Z: • War on Terror • Time before a black US President • Financial struggles • Instant connection • Not as dependent on parents • Short attention span

  45. Boomers: Optimism Team orientation Personal gratification Involvement Personal growth VALUES Xers: • Diversity • Techno literacy • Fun and informality • Self-reliance

  46. Millennials: Optimistic Feel civic duty Confident Achievement oriented Respect for diversity VALUES Gen Z: • Having a voice • Diversity • Relationships • Social responsibility • Seek stability • Entrepreneurial

  47. Generational Interaction Example Xers and Millennials who have had different life experiences and communicate with people differently, may fail to actively listen to Boomers thereby missing valuable information and guidance.

  48. When Generations Fail to Communicate • May impact turnover rates • May impact tangible costs (i.e. recruitment, hiring, training, retention) • May impact intangible costs (i.e. morale) • May impact perceptions of fairness & equity • Will impact firm succession

  49. Communication & Feedback Style and form of feedback depends on your generational outlook.

  50. Generational Feedback • Boomers– Feedback once a year and lots of documentation. • Xers – Sorry to interrupt but how am I doing? • Millennials – Feedback whenever I want it at the push of a button. • Gen Z– Prefer sound-bites and continual open dialogue

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