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Managing Gen Y

Managing Gen Y

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Managing Gen Y

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  1. Managing Gen Y Across borders

  2. The Age of Entitlement • No OLD PEOPLE on the bus … • Gen X versus Gen Y

  3. Generation X • Born: 1966-1976Coming of Age: 1988-1994 • The “lost” generation, this was the first generation of “latchkey” kids, exposed to lots of daycare and divorce. • Characterized by high levels of skepticism, “what’s in it for me.” Childhood divorce of many Gen Xers as “one of the most decisive experiences influencing how Gen Xers will shape their own families”. • Gen Xers are arguably the best educated generation with 29% obtaining a bachelor’s degree or higher (6% higher than the previous cohort). And, with that education and a growing maturity they are starting to form families with a higher level of caution and pragmatism than their parents demonstrated. Concerns run high over avoiding broken homes, kids growing up without a parent around and financial planning.

  4. Generation Y, Echo Boomers or Millenniums • Born: 1977-1994Coming of Age: 1998-2006 • Gen Y kids are known as incredibly sophisticated, technology wise, immune to most traditional marketing and sales pitches... as they not only grew up with it all, they’ve seen it all and been exposed to it all since early childhood. • Gen Y members are much more racially and ethnically diverse and they are much more segmented as an audience aided by the rapid expansion in Cable TV channels, satellite radio, the Internet, e-zines, etc. • Gen Y are less brand loyal and the speed of the Internet has led the cohort to be similarly flexible and changing in its fashion, style consciousness and where and how it is communicated with. • Gen Y kids often raised in dual income or single parent families have been more involved in family purchases...everything from groceries to new cars. One in nine Gen Yers has a credit card co-signed by a parent.

  5. Generation Z • Born: 1995-2012Coming of Age: 2013-2020While we don’t know much about Gen Z yet...we know a lot about the environment they are growing up in. This highly diverse environment will make the grade schools of the next generation the most diverse ever. Higher levels of technology will make significant inroads in academics allowing for customized instruction, data mining of student histories to enable pinpoint diagnostics and remediation or accelerated achievement opportunities. • Gen Z kids will grow up with a highly sophisticated media and computer environment and will be more Internet savvy and expert than their Gen Y forerunners. More to come on Gen Z...stay tuned.

  6. Not every … is a … • Bruce Lee • Taliban • IT Expert • Not all Gen X, Y, Z were born the same. • Not a homogeneous group • Nature or Nurture

  7. Every Manager needs to … • What managers want • people who can work independently without much supervision. • The 3 Most Important Tasks of a Manager • Recruit • Train • Manage for Results • The 3 Considerations of Hiring • Talent • Training • Supervision

  8. The Downside of Hiring Generation Y • It’s all about me – wonderful me.Gen Y was raised by doting parents in a world that centered around them and their needs. • We need to re-raise these employees. The workplace does have to teach lessons while taking advantage of their marvelous strengths. • I’m smart and I have the answer.I don’t have to learn from an older person. China: - Older people are slow. • Gen Y employees lack a strong work ethic.Unwilling to put in the face time that older generations put in at work - they want work life balance. Wonder how they cope in a Japanese company? • Gen Y has no respect for leaders and no loyalty to employers.Gen Y is hungry to learn but the teaching must be respectful and targeted. • Gen Y won’t take critical feedback.They want praise, praise, praise and thank you. Yes, it is difficult to critique Gen Y employees’ work.

  9. Training Gen Y • Training Tip 1: Create a new training culture • Capitalize on Gen-Y’s self-motivation and allow them to train on their own time. • Training Tip 2: Emphasize feedback • One of the benefits of building a self-paced online training program includes the opportunity for a manager to respond to data in real time on an individual basis. • Training Tip 3: Include Active Learning & Interaction • “This generation of workers learns by doing and networking, not with slide presentations in a dark room or behind their computer screens.” • Training Tip 4: Gamify it • Consider gamifying your training to keep your younger employees motivated and interested. • When you make training fun and interactive, employees might actually get excited about the next training day.

  10. Managing Gen Y performance • Totally don’t get it… • How am I part of the whole? (Never been responsible for results) • Challenge us to succeed. • WIGs, Leading Indicator, Scoreboard (Visual), Accountability • Don’t just talk to us – connect with us. • Gen Y communicate through new channels; they’re not big fans of printed memos in triplicate. • Positive reinforcement isn’t a bad thing. • Catch them doing something right. • Redirect or reprimand

  11. Gen X precedes Gen Y • We created Gen Y, take responsibility. • Don’t expect to fair a fair deal • Dependent  Independent  Interdependent • Continuous Learning • Managers need to learn to manage and to lead. • Gen Y need to learn followership • Story: accountable to subordinates? • National Service • Re-raise Gen Y • Extrinsic versus Intrinsic Reward to Internalized Responsibility and Accountability. • Dr. Henry Kissinger