Ar Are e You a ou a Millennial? Millennial? The term millennial - - PowerPoint PPT Presentation

Ar Are e You a

• u a

Millennial? Millennial?

The term ‘millennial’ applies to individuals who reached adulthood around or after the turn of the 21st century born between 1980 and 1995. Known as Generation Y, millennials directly follow Generation X as the last generation born in the 20th century. Today, there are 1.7 billion millennials making up one-third of the global population. They are defined as an “ethnically diverse generation who are team players, optimistic, confident, trusting of authority, rule-followers, achievers in school, and generally achievement-oriented in everything they undertake.”

(Howe and Strauss, 1992)

According to U.S. Census Bureau statistics, there are more than 80 million millennials in America. Millennials are the largest generation in history. Millennials will make up an estimated 75% of the workforce by 2025, ultimately changing the face of organizational leadership.

Silent Generation (b. 1928-1945) Baby Boomer Generation (b. 1946-1964) Generation X (b. 1965-1979) Generation Y/Millennials (b. 1980-1995/2000) Generation Z/Digital Natives (b. 1996 - 2012)

¢ Silent Generation/Traditionalists -1928-1945

— Very defined sense of right and wrong — Loyal, disciplined, detail-oriented — Fastest growth on social networking sites has come from this generation

¢ Baby Boomers- 1946-1964

— Loyalty to employer, strong work ethic, long hours — Career and self one in the same — Finding solutions to problems, respect for authority

¢ Generation X- 1965-1979

— Set and meet goals, productive — Balance work and life-enjoy flex hours — Comfortable with authority, but not impressed with titles — Tech savvy, value independence

¢ Millennials/Generation Y/Next/Echo Boomers- 1980-1995

— Teamwork, multitasking all the time — Tech savvy-tech advancements — Expressing oneself, work and social life are separate — Need feedback, appreciates ownership

¢ Baby Boomers- IDEALISTS

— It’s the right thing to do!

¢ Generation X - SKEPTICS

— This works. It makes an impact!

¢ Generation Y - COLLABORATORS

— Let’s do this together!

¢ Generation Z - REALISTS

— We can fix this!

Generational Edge

¢ Baby Boomers = Individualism ¢ Generation X = Independence ¢ Generation Y = Influence ¢ Generation Z = Intuition

Generational Edge

Organizational leaders are becoming increasingly concerned that they soon will be unable to find the talent they need to succeed, with a shortage of suitably skilled workers as the single biggest worry. Businesses are competing fiercely for the best available talent to replace the retiring boomers in the upcoming years. Every year, more and more of that talent will be recruited from the ranks

• f millennials & gen Z.

• 1: Or

1: Organizational success and sustainability ganizational success and sustainability

• 2: Advancement and r

2: Advancement and retention etention

• 3: Personal achievement/W

3: Personal achievement/Work-life balance

• rk-life balance
• 4: Diversity and inclusion

4: Diversity and inclusion

Why intergenerational leadership matters

• Active attention

Active attention

• Transpar

ransparency ency

• Relevancy for others

Relevancy for others

• Relevancy for oneself

Relevancy for oneself

Best Appr Best Approach to Attracting,

• ach to Attracting,

Recruiting and Retaining Recruiting and Retaining

• Passion

Passion

• Accountable leadership

Accountable leadership

• Autonomy thr

Autonomy through

• ugh

flexibility flexibility

• Self-car

Self-care as a r e as a reflection eflection

• f or
• f organizational cultur

ganizational culture

MENTORING COACHING SPONSORING MENTORING COACHING SPONSORING

A c o a c h p r o v i d e s guidance for your development, often focused on soft skills (e.g., active listening) rather than technical skills (e.g., financial acumen). You and your coach are responsible f o r d r i v i n g t h e relationship.

A mentor informally

• r formally helps you

navigate your career, providing guidance for career choices and decisions. You d r i v e t h e

• relationship. Your

mentor is reactive and responsive. A sponsor is a senior l e a d e r o r o t h e r person who uses strong influence to help you obtain

• visibility. The sponsor

d r i v e s t h e r e l a t i o n s h i p b y advocating for you behind closed doors.

Generation Z / Digital Natives (1995-2012)

Born during minor fertility boom around US Global Financial Crisis The children of Generation X CHARACTERISTICS

• Highly connected to

communication

• Instant gratification/thrive on

acceleration

• Independent, lacking a

community- oriented nature due to social media

• Very open with little concern to

privacy and personal information.

• Thrive on small bits of information.
• Under a lot of pressure to succeed

AT WORK

• Very collaborative and

creative

• Will have to solve the worst

environmental, social and economic problems in history

• Will not be team players
• Will be more self-directed
• Will process information at

lightning speed

• Will be smarter

Who’s Next?

• Assume younger members will find the same things

Assume younger members will find the same things appealing. appealing.

• Get gimmicky with partners, members or

Get gimmicky with partners, members or accomplishments. accomplishments.

• Push social media content and walk away

Push social media content and walk away. .

• Take on too much without a strategy; over

ake on too much without a strategy; overcommit. commit.

• Lose sight of the r

Lose sight of the reason you need younger members. eason you need younger members.

• Keep your story engaging and relevant.
• Develop meaningful relationships on multiple levels.
• Maintain your visionary status.
• Stay current & engaged on social media platforms.
• Allow your strategy time & room to grow.
• Walk the talk; deliver.

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