UNDERSTANDING GENERATIONAL MEMBERS’ HOT BUTTONS

Wednesday, September 28, 2011 Presented by: Dean D’Ambrosi Director, Member Services CFMA Mike Molaro Director, Chapter Services CFMA

CROSSING THE GREAT AGE DIVIDE

 The events and conditions each of us experiences during our formative years determine who we are and how we see the world.

 As a result of these events and conditions, each generation has adopted its own “generational personality.”  Markers can be people, places, things, or actual events that become reference points for a generation.

 Conditions are the forces at work in the environment as each generation comes of age.

MATURES/TRADITIONALISTS (1900-1945)

   Key Characteristics/Values: Teamwork, Commitment, Sacrifice, Discipline, Financial and Social Conservatism Markers: Great Depression, GI Bill of Rights, The New Deal People: Joe DiMaggio, The Rat Pack, FDR, Joe McCarthy, Dr. Spock, Duke Ellington, Charles Lindbergh, Edward R, Murrow, John Wayne, Elizabeth Taylor, Betty Crocker   About 75 million Comprise 5% of today’s workforce    Generational Personality: Loyal Working together towards common goals      Things were scarce “Save for a Rainy Day” “Waste Not Want Not” God-fearing, Hard-working, Patriotic     Over 50% of Men are Veterans Patriotism is a given “Stand beside her, and guide her” The value of a dollar

MATURES/TRADITIONALISTS

 Management Style—Chain of Command  Leaders lead and troops follow  Top-down management styles  1940s and 1950s—Workforce soley made up of this generation  Early 1960s—Here comes the next generation of workers  Can we go back to the “good old days?”

MATURES/TRADITIONALISTS (RECAP)

 Communication Technology: Radio, Rotary Phones, Slide Rules  Spending Style: Scrimp and Save, Pay Cash  Work Ethic: Appreciate Hard Work, Dedicated, Respect Authority  Communication Style: Formal  Preferred Rewards: Respect, Work for Delayed Rewards  Work/Life Balance: Separate

BABY BOOMERS (1946-1964)

           Key Characteristics/Values: Idealism, Self-Improvement, High Expectations Markers: Civil Rights Movement, Viet Nam, Woodstock, Television, Watergate, People: JFK, Martin Luther King, Jr., Richard Nixon, Beaver Cleaver, Rosa Parks, Charles Manson, Gloria Steinem, Captain Kirk, the Beatles, the Stones 80 Million  Most important invention—Television Comprise 45% of today’s workforce Made changes and “left their mark”  4 million TV sets in 1952; 50 million TV sets by 1960 Want to shake things up  Generation Gap widened Want to change the world Traveled from tragedy to escapism to realism Hanoi Hilton, Chappaquiddick, Kent State   Generational Personality: Optimistic A sense that anything was possible Sit-ins, love-ins, Laugh In, Woodstock  Good jobs, good education  Had what their parents only dreamed of 

BABY BOOMERS

 Key trait: Competitive  Had to fight for what they got  “Me” generation  Were able to focus on themselves  Proud of who they are and what they accomplished  Focused on what it took to get ahead  Driven by Money  “Change of command”  Asked questions  Cynicism stepped in  Women waited later in life to have children  Two-income households and both parents worked  Challenged the authority of Matures to a point but respected what they stand for

BABY BOOMERS (RECAP)

  Communication Technology: Television, Touch-tone Phones, Calculators, Tape Recorders Spending Style: Charge It Now, Pay Later  Work Ethic: hard Worker, Optimistic, Driven  Communication Style: In-Person  Preferred Rewards: Job Titles, Material Things  Work/Life Balance: No Balance

GENERATION XERS (1965-1980)

   Key Characteristics/Values: Pragmatism, Diversity, Quality of Life, Savvyness, Entrepreneurial Spirit Markers: AIDS, MTV, Desert Storm, Internet, PC People: Brat Pack, Bill and Monica, Ayatollah Khomeini, Beavis and Butthead, O.J. Simpson, Madonna, Michael Jordan  46 million  Generational Personality: Skeptical  Comprise 40% of today’s workforce  “Social” crimes within government, presidency, military, corporate America, religion  Probably most misunderstood generation—Not driven or motivated by money  Divorce rate tripled during their birth years  A lot of their “heroes” were indicted or exposed as less than stellar citizens  Distrust institutional and personal relationships  Put more faith in themselves than in institutions that have failed them

GENERATION XERS

 Complex childhoods  “Self-Command” in the workplace  Violence was close to home—AIDS, crack cocaine, child molesters  Extremely resourceful and independent  Have to rely on themselves  The world isn’t as safe as it used to be  Number of single-parent households increased  Count on their peers and themselves to get things done, not family  Latchkey children  Money ranks near the bottom of motivators along with job status and prestige  Traditional family out the window  Want to use their talents and have a sense of satisfaction and being passionate about what they are doing

GENERATION XERS

 See themselves as free agents.

 Surveys show they stay in a job for only 1.1 years.

 This makes them more “marketable” to future potential employers.

 Getting them is the first challenge.

 Keeping them is the second challenge.

 They will move on when the job they are in is no longer satisfying.

 They are looking for positive work relationships, interesting work, and opportunities for learning.

 Their lives don’t revolve around their work. Work is just one part of their lives.

 Calling Boomers “workaholics” is justified to them.  Watched their parents sacrifice heir marriages and “sell their souls” for career success.

 Xers refuse to follow in these footsteps.

 Crusaders for what they believe in.

GENERATION XERS

 Media expanded their world  International Space Station to the Internet  America’s mystique was stripped away  Want more to their lives than just work and a paycheck.

 Want to be accepted for who they are—and what they can offer.

GENERATION XERS (RECAP)

 Communication Technology: Videos, Computer Games, Cell Phones, Pagers, Laptops  Spending Style: Often Cautious  Work Ethic: Seek Work/Life Balance, Embrace Diversity, Skeptical  Communication Style: Direct, Immediate  Preferred Rewards: Freedom, Autonomy  Work/Life Balance: Balance

MILLENNIALS/GENERATION YERS (1981-1999)

 Key Characteristics/Values: Optimism, Technological Adeptness, Virtual Competency, “Edutainment”  Markers: Columbine, Dawson’s Creek, 90210, Oklahoma City Bombing, Cyberspace  People: Prince William, Ricky Martin, Barney, Britney Spears, Backstreet Boys, Buffy the Vampire Slayer, Marilyn Manson, Felicity, Kurt Cobain, Venus and Serena Williams

MILLENNIALS/YERS

 76 million  Comprise 10% of today’s workforce  Also called “Generation Y” and “Generation Next”  Mostly MBAs  Technology and media blurs fantasy and reality  Technology defines this generation  Internet is a “light switch”  Local mall or virtual mall  Generational Personality: Realistic  Gangs, illegal drugs, Columbine  “Personal safety” is their number on workplace issue  Feel empowered to take positive action when things go wrong  Have the “best” from the previous three generations

MILLENNIALS/YERS

 Don’t Command, Collaborate  Appreciation for diversity  Expect the workplace to resemble the diverse world they grew up in  Included in family decisions  Latchkey children—Stuck up for themselves  Relied on friends and themselves  Bring these qualities to the workplace  Will not be bullied  Power-Tripping Bosses  Long, Rigid Hours  No Fun Work Environment  No Value on Their Ideas  Ignored Skills  “That’s How It’s Always Been Done”  Do As I Say, Not As I Do  Meaningless Work  Paying Their Dues

MILLENNIALS/YERS “TURN ONS”

 Opportunities to Learn  Quick Results  Getting to Know Them  Varied Job Responsibilities  Work/Life Balance  Increased Responsibilities  Honesty  Using Their Technology Skills  Teamwork  Listening to Their Ideas  Flexible Hours  Instant and Public Praise  Respect

MILLENNIALS/YERS (RECAP)

 Communication Technology: Internet, DVDs, PDAs, iPODs, Text Messaging  Spending Style: View Parents as a Ready Source of Cash  Work Ethic: Multitasking, Goal-Oriented  Communication Style: Electronic  Preferred Rewards: Meaningful Work

CUSPERS

 Someone born on the cusp between two generations  Most identify strongly with one or the other  Others have characteristics of both  Natural “mediators”  Usually make the best managers

CUSPERS

Three Cusper Groups in Today’s Workforce:  Matures/Baby Boomers: Born Around 1945. Too young to fight in WW II or Korea, they were at the forefront of various human rights movements. Value the work ethic of Matures, they will challenge the current state of affairs.

 Baby Boomers/Gen Xers: Born Around 1965. Too young for the protests of the 1960s, many were still in school in the 1980s and many finished their secondary education without turning on a computer.

 Gen Xers/Millennials: Born From 1975-1980. Possess an interesting mix of Gen X skepticism and Millennial optimism. Quite comfortable with technology.

FOLLOW THE U.S ARMY’S FORMULA

 One of the most successful organizations to speak to the four generations is the U.S. Army.

 They changed their message based on their “audience” and the environment in which that audience interacted.

FOLLOW THE U.S. ARMY’S FORMULA

 Matures/Traditionalists: Uncle Sam Wants You!

Focused on patriotism, pride, and loyalty.

 Boomers: Join the people who’ve joined the Army. Communicated a feeling of a more congenial, all-volunteer army. Optimism.

FOLLOW THE U.S. ARMY’S FORMULA

 Xers: Be all that you can be. Named by

Advertising Age

as the second-best slogan of the 20 th Century behind McDonald’s “You Deserve a Break Today.” Skepticism.

 Yers: The power of one. This generation believes in the power of each individual to make a difference. Realism.

 Yers: New ad campaign ads appeal to Boomers, who are the parents.

BRIDGING THE GENERATIONAL GAPS

 Acknowledge that everyone is different. People’s unique experiences, which are often shaped by when they were born, influence their attitudes toward work.

 Appreciate the strengths people in different generations possess. Instead of adopting a “my way is the right way” attitude, focus on the positives of a variety of different outlooks in the workplace. Never assume that there is only one way of doing something.

 Manage generational differences effectively. Search for ways to interact with each generation that will benefit everyone. People thrive in cultures where they are free to express themselves, and in doing so, learn from others.

BRIDGING THE GENERATIONAL GAPS

 Understanding the differences between the four generations that comprise today’s workforce is one way employers can help keep their talent, reduce turnover costs, and remain competitive.

No one is right or wrong—we’re just different.

CFMA MEMBERSHIP CHAIR WEBINAR SEPTEMBER 28, 2011 – GENERAL PROMOTION

CFMA MEMBERSHIP CHAIR WEBINAR SEPTEMBER 28, 2011 – MATURES

CFMA MEMBERSHIP CHAIR WEBINAR SEPTEMBER 28, 2011 – BABY BOOMERS

CFMA MEMBERSHIP CHAIR WEBINAR SEPTEMBER 28, 2011 – GENERATION XERS

CFMA MEMBERSHIP CHAIR WEBINAR SEPTEMBER 28, 2011 – MILLENNIALS