Succession Planning and Emerging Generations

1. Succession Planning and Emerging Generations Presenters: Lois Fried, CPP Chris Burley, Sr. Director of Learning, ADP,LLC October 9, 2015

2. Objectives • Succession Planning 101 • 21st century events driving succession planning • Defining the generations and what defines them • Understand how social experiences have shaped them • Putting it all together

3. Succession Planning Defined Succession planning is: • A means of identifying critical management leadership positions to ensure continuity, retain & develop intellectual capital for the future, and encourage individual advancement. • A talent management strategy to help identify and foster the development of high-potential employees.

4. Fueling Succession Planning • Diverse workforce • Tightening labor market • Shortage of qualified candidates • Demand for training and development • Global Market

5. Generations at Work

6. Music Who was on the radio when you were in High School? • Elvis, Guy Mitchell, Dean Martin, Pat Boone, Platters • Simon and Garfunkel, Don McLean, Hendrix, Led Zeppelin • Sinead O'Connor, Bell Biv Devoe, Nirvana, Beastie Boys, • Coldplay, Outkast, Dave Mathews Band, Train

7. Disclaimer • Generational differences influence behavior; however, this does not mean that generational differences determine adult interactions. • There are a host of other variables that impact behavior and outcomes. • Generational differences represent only one of these factors.

8. Builders – Great Generation • 68 million • 18M: 1901-1924 • Silent Majority 50M: 1925-1942 • Cusp: 1940-1945

9. Baby Boomers • 77 M • 1st Wave: 1943-1951 • 2nd Wave: 1952-1960 • Cusp: 1960-1965

10. Gen - X • 44.6 M • 1961-1981 • Cusp: 1978-1983

11. Generation Y/Millennials • 95 M • 1983-2002

12. “Each generation imagines itself to be more intelligent than the one that went before it, and wiser that the one that comes after it.” George Orwell

13. What Events Shaped the Builders? (Born 1901-1942)

14. What Events Shaped the Builders? (Born 1901-1942) • Great Depression • New Deal, Large Government • Winning WWII (half of all adult men were Vets) • Move from farm to suburbs • Development of Huge Companies • Growth of Communication

15. The Boomers?(Born1943-1960)

16. The Boomers?(Born1943-1960) • Rock and Roll • Vietnam • School Standardization • Cold War • Space travel • Assassinations • Women’s Liberation • Woodstock • Affluence • Television • Suburban schools • Watergate • Civil Rights • Sexual Revolution • Influenced by peers, schools and media as much as by parents

17. The Gen X?(Born 1961-1981)

18. The Gen X?(Born 1961-1981) • Divorce • Recession • Computers at home • Fall of Berlin Wall • Challenger • Pan Am 103 • Libya • Divorce • 23% Interest rates • Manufacturing goes oversees • Global economic competition • Discussed rather than memorized the Gettysburg address • Zero-tolerance schools • Aids

19. Gen Y-Millennials?(Born 1981-2000)

20. Gen Y-Millennials?(Born 1981-2000) • School shootings • Highly Scheduled • Expected a toy with their meal • Went through school in teams • Pervasive technology • 9/11 • Oklahoma City • Technology Boom • Child focused world • Clinton / Lewinsky • Boomer parents emphasized self-esteem

21. Values and Behaviors

22. Values and Behaviors of Builders • Hard work • Dedication & sacrifice • Respect for rules • Duty before pleasure • Confidence in Leaders, Experts and Government • Chain of Command • Loyal, honorable, disciplined, patient

23. Values and Behaviors of Boomers • Optimism • Team orientation • Personal gratification • Involvement • Personal growth • Focused on Self Improvement • “Nuclear Families • High Expectations • Challenge Authority • Competitive • Emphasis on fairness • Process and Procedure • Workaholic

24. Values and Behaviors of Gen X • Diversity • Techno literacy • Fun and informality • Self-reliance • Pragmatism • Have seen Org. loyalty doesn’t pay off • First generation to not do as well as their parents • Less influence politically • Expect bad things to happen • Get Real • “Family” isn't necessarily Family • Prefer email to phone

25. Values and Behaviors of Millennials (Gen Y) • Optimistic • Feel civic duty • Confident • Achievement oriented • Respect for diversity • Realistic • Informal • Multi-taskers • Comfortable in networks • Will have multiple careers • Raised with lots of choices • Realize life could end at any moment - want to make a difference • Expect things to be “right” at work • Huge voting block

26. Generational Behaviors

27. General Themes of Each Generation Builders: “Always be faithful” Boomers: “Do your own thing” Gen X: “Get real” Millennials (Gen Y): “Believe in yourself”

28. Views of Work Builders: do what you have to so you can give your family a better life Boomers: work hard and get ahead Gen X: work as hard as you have to and get a life Millennials/Gen Y: work, but make a difference

29. Views of Work Relationships Builders: Team Player - work as a team under the chain of command Boomers: Individual - do your own work, but play by the rules Gen X: Individual - do what needs to be done in the fastest way Millennials/Gen Y: Team Player - work in teams, everyone counts

30. Rewards Builders: I want to know I did my duty and I belong here. Boomers: I want status or recognition, a window, perks. Gen X: I want options. Millennials/Gen Y:I want meaning and significance.

31. Training Builders: School of hard knocks Boomers: As a reward Busters: Prepare me to leave, and I’ll stay Millennials/Gen Y: Duh?!

32. Feedback Builders: No news is good news Boomers: Feedback once a year and lots of documentation Gen X: Sorry to interrupt but how am I doing? Millennials/Gen Y: Feedback whenever I want it at the push of a button

33. Pop Quiz

34. Boomers and Decision Making Pick the statement that would best describe a Baby Boomer’s approach to decision making: • We work through the options and decide together. • Whoever is the most savvy on this topic decides. • We follow a process and the boss ultimately decides. • The boss decides

35. Gen X and Work Ethic Pick the response that a Gen X’er would say about work ethic: • Work 9 to 5 and stay late with overtime. • It’s a 24/7 world so I'm leaving at 5. I can log on tonight. • Work 8 to 6 and then take it home. • Do the required work, then take it home if you have to.

36. Work and Fun! Who will get more done if it’s “fun”? • Builders • Boomers • Gen X • Millennials

37. Employer Views of Generations What kinds of employers are going to be most impressed by your credentials? • Builders • Boomers • Gen X • Gen Y

38. The Generations Most Likely to… Which generation is most likely to interrupt during a presentation? • Builders • Boomers • Gen X • Gen Y

39. Generations & Company Loyalty Which of the 2 generations are the most loyal to their boss and company? • Boomers and Millennials • Gen X and Builders • Builders and Boomers • Gen Y and Builders

40. Putting it All Together

41. Putting it All Together Demystifying the Millennials • Millennials expect more compensation and faster promotion than other generations… • 6%X,3% all others. • Millennials use technology at work more than • other generations…33%X, 35%Y, 30%Boomers • Millennials are more likely to accept a new job than other generations for almost any reason…57%X,52%Y, 44% Boomers

42. The Succession PlanningProcess • Provide Accurate, Ongoing Feedback on Performance and Potential • Access capabilities and determine options • Demonstrate Realistic Career Paths • Use Millennials to Provide Feedback on Technology Platforms-reverse mentoring • Hold Frequent Career Discussions

43. Career Planning…It’s on you • Taking action • Assessing individual skills and abilities • Onus is on the employee • Knowing when to stay on course, take a turn or set off in a new direction • Building technical skills • Mastering functional skills • Developing organizational skills • Communication and collaboration

44. Questions

45. Thank you and please remember to complete your evaluation for this session.