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Challenges and Opportunities of Leading Generations at Work Lance Frazier, Ph.D. Department of Management Old Dominion U

Challenges and Opportunities of Leading Generations at Work Lance Frazier, Ph.D. Department of Management Old Dominion University. Today’s Agenda. Introductions What are the generations in the workplace? What are the differences in values? Where can we find common ground?

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Challenges and Opportunities of Leading Generations at Work Lance Frazier, Ph.D. Department of Management Old Dominion U

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  1. Challenges and Opportunities of Leading Generations at Work Lance Frazier, Ph.D. Department of Management Old Dominion University

  2. Today’s Agenda Introductions What are the generations in the workplace? What are the differences in values? Where can we find common ground? Practical Recommendations

  3. A Few Caveats We are dealing with generalizations between generations Individuals will differ within a generation, as well Some differences due to life-stage differences

  4. What is a Generation? Generational cohorts include individuals born around the same time who share distinctive social or historical life events during critical developmental periods. These events shape their world view and values, which remain relatively stable. They also perceive themselves to have things in common.

  5. Social Forces Parents Peers Media Critical Social and Political Events Popular Culture

  6. Four Generations (2012)

  7. Changes in the Labor Force By 2020, Millennials will make up 50% of the workforce. Baby Boomers will continue to retire Generation X is a smaller generation than the ones before it and after it.

  8. Baby Boomers: Life Events Civil Right Movement Assassinations of JFK and MLK Vietnam War Watergate Moon Landing

  9. Baby Boomers :Core Values Optimism Idealism Health and Wellness Personal Gratification Active Participation Competitiveness

  10. Generation X: Life Events Parents being laid off Latchkey kids Challenger Disaster MTV AIDS

  11. Generation X: Core Values Skepticism Self-Reliance Pragmatism Free-Agency Balance in Life

  12. Generation Y: Life Events Oklahoma City Bombings September 11th School Shootings Technology Corporate Scandals

  13. Generation Y: Core Values Confidence Diversity Civic Duty Morality Sociability

  14. Generations: Work Values Boomers: Achievement, Hard work, Traditional work ethic, Loyalty Generation X: Do not value loyalty, Independence, Work-life balance Generation Y: Creativity, Multi-tasking, fun environment, Meaningful work

  15. What does the Research Say? Research of a truly generational nature is scarce. The data is hard to obtain. There is evidence that there are key differences in work values.

  16. Research Findings Boomers value leisure time less than both Gen X and Y. Gen Y value it more than Gen X. Gen X and Y both value extrinsic rewards more than Boomers. Gen X value it more than Gen Y. Gen Y valued intrinsic rewards less than both Gen X and Boomers. Gen Y valued social rewards less than Gen X and Boomers

  17. Research Findings No significant difference between the three generations in regard to altruistic work. Older generations are generally more satisfied with their work. Older generations less likely to leave their jobs.

  18. Are we really that Different? Differences, while present, are generally not large. Often there are no differences found in research efforts. Differences in attitudes might be attributed to stage of life rather than true generational differences.

  19. Generational Quotes “The counts of the indictment are luxury, bad manners, contempt for authority, disrespect to elders, and a love for chatter in place of exercise…..Children began to be the tyrants of their households.” – K.J. Freeman (1907) "They have trouble making decisions. They would rather hike in the Himalayas than climb a corporate ladder…  They crave entertainment, but their attention span is as short as one zap of a TV dial” – Quote from Time, July 1990. “The older generation thought nothing of getting up at five every morning - and the younger generation doesn't think much of it either.”- John J. Welsh

  20. Shared Expectations: Work Work on challenging projects Opportunities for growth and advancement To be treated fairly Competitive compensation

  21. Shared Expectations: Leaders Leads by example Accessible Helps others see how their role contributes Act as coach and mentor

  22. Takeaways for Managers Question your rules and “the way things are done” Communicate expectations early and often Provide regular feedback Don’t micro-manage

  23. Takeaways for Younger Bosses Deal directly with the age difference Show loyalty to your employees Listen to their guidance Respect differences in communication styles Dress for success

  24. Closing Are there any questions? I can be reached at mlfrazie@odu.edu Thank you very much!

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