Transcript Slide 1

Generational Differences:
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The defining events, personal tendencies
and work styles of the four generations in
today’s workplace
Four Generations at
a Glance
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Veterans  Born 1922 - 1943
Baby Boomers  Born 1943 - 1960
Generation X  Born 1960 - 1980
Generation Y  Born 1980 - 2000
Four Generations
in the Workplace
70
61.85
60
46.79
50
40
In Millions
30
20
19.63
10
10
0
Veterans Boomers
Gen X
Gen Y
Source: Bureau of Labor Statistics Current Population Survey, 2004
Generation Quiz
• How well do you know the
generations?
• Circle the answer that you think is
correct.
• We will discuss the answers after
the presentation.
Veterans (Age 63-84):
Defining Events
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Great Depression
World War II
Pearl Harbor
D-Day
Rationing
Atomic Bomb
FDR Administration
New Deal
Radio
Veterans (Age 63-84):
Tendencies
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Hard working
Family focused
Churchgoers
Respectful
Patriotic
Believe in duty before pleasure
Adhere to rules
Have patience
Believe in dedication and sacrifice
Veterans (Age 63-84):
Work Style
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Team players
Strong commitment to work
See work as an obligation
Dependable
Hard workers
Boomers (Age 46-63):
Defining Events
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Cold War
Civil Rights Movement
Space Program
Assassinations: JFK & RFK, MLK
Vietnam War
Watergate
Sexual Revolution
Women’s Liberation
Boomers (Age 46-63):
Tendencies
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Educated
Optimistic
Believe debt is OK
Personal growth-oriented (read self-help books)
Question authority
Independent
Cause-oriented
Work hard
Value youthfulness, health and wellness
Boomers (Age 46-63):
Work Style
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Service-oriented
Driven
Good team players
Willing to go extra mile
Want to please
Good at relationships
Uncomfortable with conflict
Not budget minded
Gen X (Age 26-46):
Defining Events
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Challenger explosion
Fall of Berlin Wall
Iran Hostage Crisis
Collapse of Communism
First Gulf War
AIDS
High divorce rate
Latch-key kids
Corporate downsizings
Personal computers
Video games
Gen X (Age 26-46):
Tendencies
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Live for today
Skeptical/cynical
Have a global perspective/value diversity
Distrust corporations
Entrepreneurial
Strong belief in work/life balance
Techno-savvy – Internet becomes standard
Enjoy/need a challenge
Gen X (Age 26-46):
Work Style
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Want to know why
Know there are no guarantees
See multiple perspectives
Results-oriented
Independent
Want flexibility
Multi-taskers
Creative
Gen Y (Age 26 & under):
Defining Events
• Oklahoma Bombing
• School violence (Columbine)
• Clinton/Lewinsky
• 9/11
• Internet always available
• Overscheduled
• Parents have high divorce rate
Gen Y (Age 26 & under):
Defining Events (cont’d.)
• Two working parents
• Cell phones standard
• Exposure to sex, violence at early
age
• Obesity epidemic
• Diabetes epidemic
• “Ritalin Generation”
Gen Y (Age 26 & under):
Tendencies
• Patriotic
• Introspective
• Skeptical
• Masters of technology
• Media-vores
• Open to diverse perspectives
• Acceptance of multi-
Gen Y (Age 26 & under):
Tendencies (cont’d.)
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Innovative
Dependent
Self-confident
Socially conscious
Family is priority
Sociable/inclusive
Image driven
Overly medicated
Gen Y (Age 26 & under):
Work Style
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Looking to make a difference
Cause-oriented
Focus on the present (future uncertain)
Tend to multi-task
Fast-thinking skills (honed on
Playstation/Gameboy)
• Expect immediate gratification
• Value other’s perspectives
• Ask why
Gen Y (Age 26 & under):
Work Style (cont’d.)
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Thirst for knowledge
Networkers
Team players
Strive for work/life balance
Hard workers/multitasking ability
Tenacious
Optimistic
Need for supervision and structure
Less developed coping skills
The Big Picture
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Global Trends
Bringing it Home  Immigration
Thought Questions
Educated Labor Challenges
New Workforce Attitudes
Generations and Gender in the Workforce
Taking Action
Thought Questions
The Big Picture:
Global Demographic Trends
In 2020 the World will be:
• Older
• By 2050, the global 65+ age cohort will triple
in size to about 1.5 billion, or 16% of total.
• Far less Caucasian
• Far more concentrated in urban areas
• By 2015, for the first time in human history, a
majority of the world’s population will live in
cities.
Source: “Long-term global demographic trends: reshaping the geopolitical landscape.” Central Intelligence Agency (CIA), 2001.
http://www.eldis.org/static/DOC9390.htm
The Big Picture:
Global Demographic Trends
2020 Demographics continued:
• While developed nations will get older, developing
nations will experience significant youth bulges. Almost
all population growth will occur in developing nations
that, until now, occupied places on fringes of the global
economy.
• Of the 1.5 billion world population gain by 2020, most
will be added to states in Asia and Africa.
• Europe and Russia will shrink dramatically in relative
terms.
Source: “Long-term global demographic trends: reshaping the geopolitical landscape.” Central Intelligence Agency (CIA), 2001.
http://www.eldis.org/static/DOC9390.htm
Bringing it Home:
Immigration
• Expect immigrants to play increasingly crucial roles in
filling less-educated labor needs in the U.S.
• Natural population growth is unlikely to provide sufficient
workers to sustain the labor force growth needed to maintain
overall economic growth.
• The native born population as a whole is growing older and
successive generations of native-born workers are better
educated. This presents a serious challenge to those sectors
of the economy that employ workers with less education.
• On average, foreign-born workers tend to be younger than
their native-born counterparts and a larger proportion have
relatively little education.
Source: “Economic Growth and Immigration: Bridging the Demographic Divide.” Immigration Policy Center, a division of The
American Immigration Law Foundation. November, 2005. www.immigrationpolicy.org
Thought Questions:
• How will the global demographic changes affect
my industry?
• Where might these demographic changes
represent a market opportunity? Will they impact
the global aspect of our business?
• Can my company take advantage of these
demographic changes to fill labor needs at a lower
cost?
• What role do/will immigrants play in my company
and industry?
Educated Labor
Challenges
• But I heard that the Bureau of Labor Statistics
has revised its labor supply and demand
projections and now expects there to be a
general balance between supply and demand for
labor.
• TRUE; however,
• The balance mentioned above does not exist
within industries requiring highly-skilled workers.
• Competition for well-educated, high-skilled
workers will expand as talent of this caliber
becomes more highly sought after.
Source: “Work Place Flexibility – The Next Frontier.” Billy E. Johnson. Deloitte Services LP. May 11, 2005.
The New Reality
• There really are fewer people available in
the workforce compared to when
Boomers moved through the workforce.
• Today employees have an array of career
options that Boomers generally did not
have.
• Bottom Line  It’s a Seller’s Market!
Source: “Work Place Flexibility – The Next Frontier.” Billy E. Johnson. Deloitte Services LP. May 11, 2005.
The New Reality
• Women will increase their role in the workforce.
• Labor participation rate for women projected to
increase from 50% in 1980 to 63% in 2010; while
rate for men projected to decrease from 80% in
1980 to 73% in 2010
• Women are ones most frequently seeking
flexible work arrangements, but men want
flexibility as well
• This is not just a women’s issue
• Gen X men think fathers can parent as well as
mothers and should be equally involved in kid’s lives
Source: “Work Place Flexibility – The Next Frontier.” Billy E. Johnson. Deloitte Services LP. May 11, 2005.
Attitudes/Expectations
of Professionals
Baby Boomers:
• Regard work as an anchor in their often turbulent lives
• Value being true to oneself, feeling in control, making
enough money to ensure comfort, maintaining health and
vitality, and doing work that provides personal satisfaction
• As they approach retirement, they are looking for more
meaning in their work and ways to ‘give back’ to others
• ‘Sandwich’ generation  juggling responsibilities for
children, grandchildren, aging parents, and preparation for
retirement
Source: “Long-term global demographic trends: reshaping the geopolitical landscape.” Central Intelligence Agency (CIA), 2001.
http://www.eldis.org/static/DOC9390.htm
Attitudes/Expectations
of Professionals
Generation X:
• Individualistic, assertive, independent, shape their own
work environment, take responsibility for development of
skills/employability
• Ambitious, want advancement and good salaries, but
follow their hearts and quality of life concerns  Enjoy
work but consider work/life balance important
• View each job as a chance to learn; less hesitant to change
jobs/companies or to become entrepreneurs
• Likely to seek new career opportunities and ventures as
they grow older
Source: “Long-term global demographic trends: reshaping the geopolitical landscape.” Central Intelligence Agency (CIA), 2001.
http://www.eldis.org/static/DOC9390.htm
Attitudes/Expectations
of Professionals
Generation Y:
• Adaptable and flexible, but less homogenous and more
conservative  Assume a ‘free agent’ mindset and are
realistic about their expectations
• Listen, respond, wait and see, and build trust one day at a
time
• More relaxed about diversity and far more prepared to
participate in teamwork
• Internet generation, dependent on technology, perhaps at
the expense of basic reading, writing, and math skills
• No secrets; more willing to share pay/workplace info
Source: “Long-term global demographic trends: reshaping the geopolitical landscape.” Central Intelligence Agency (CIA), 2001.
http://www.eldis.org/static/DOC9390.htm
Attitudes of Gen Y
• Gen Y’s are ambitious, energetic, hungry for stimuli – and
possess the overwhelming desire to stay put in one company
for as long as possible.
• Striking contrast to late ’90s when young people moved from company
to company in search of new skills, contacts and experiences
• Majority expect to hold more jobs over course of career than they would
prefer
• Would like to be loyal if employer was loyal to them, but know business
is no longer set up that way
• Noticeable gap exists between what skills students and
employers believe are needed to succeed at work
• Students gave lowest marks to mathematics, speaking foreign language,
public speaking, selling things or ideas, writing and editing…skills
needed in increasingly global business world
• Students ranked highly habits such as working patiently/diligently,
working independently, multi-tasking, and developing personal
connections.
Source: “Work Place Flexibility – The Next Frontier.” Billy E. Johnson. Deloitte Services LP. May 11, 2005.
New Workforce Attitudes
• Evolution of the employee to a
‘consumer of the work experience’
• Will want customized work arrangements
• Accelerated acceptance of family as a
top priority among employees of both
genders and all generations after
September 11th
• Elder care a growing issue
Source: “Work Place Flexibility – The Next Frontier.” Billy E. Johnson. Deloitte Services LP. May 11, 2005.
Generation and Gender
in the Workplace
• Younger workers are more likely to be familycentric or ‘dual-centric’ (w/equal priorities on
career/family) and less work-centric than parents’
generation
• College-educated men wanting jobs w/more
responsibilities:
• 1992  66%
• 2002  50%
• College-educated women wanting jobs w/more
responsibilities:
• 1992  56%
• 2002  35%
Source: “Generations and Gender in the Workplace.” Families at Work Institute.
http://familiesandwork.org/publications/genandgender.html
Generation and Gender
in the Workplace
• Though focus may have shifted, study refutes often-held
assumption that Gen Y / Gen X employees are ‘slackers’ 
employees in 2002 worked just as hard as their age
counterparts in 1977
• Gen Y in 2002  no significant difference from age
counterparts from 1977 with respect to paid/unpaid hours per
week
• 1977  38.5%
• 2002  38.5%
• Gen X in 2002  actually worked more than age counterparts
from 1977 with respect to average paid/unpaid hours per
week
• 1977  42.9%
• 2002  45.6%
Source: “Generations and Gender in the Workplace.” Families at Work Institute.
http://familiesandwork.org/publications/genandgender.html
Taking Action
• Ensure that training/on-the-job experience
increase transferable and marketable skills
• Provide rationale for work you are asking
employees to do and explain value added
• Provide task variety
• Build teams with great care
• Provide work environment that rewards extra
effort and excellence
• Pay attention to blurring of work, life and
family issues
Source: “Work Place Flexibility – The Next Frontier.” Billy E. Johnson. Deloitte Services LP. May 11, 2005.
Thought Questions
• How will the increasing scarcity of highly skilled and
educated workers affect my industry and organization
over the next decade?
• Do my organization’s policies and work structure
support a culture attractive to Gen X and Gen Y?
• What inter-generational issues might exist in my
organization?
• How can technology (blackberries, laptops, etc.) be
used to better support a flexible work environment?
• Do we make efforts to market the work/life balance our
organization encourages to men as well as to women?
• How can my organization take advantage of global
demographic trends to fill educated labor needs?
Source: “Work Place Flexibility – The Next Frontier.” Billy E. Johnson. Deloitte Services LP. May 11, 2005.
So, how well do you
know your
generations?