I’ll Take the Corner Office

1. I’ll Take the Corner Office Prepared for PRSA International Conference November 10, 2009 Presented by Deborah A. Myers, EVP, CRT/tanaka Ellen LaNicca Albanese, EVP, CRT/tanaka Kim Blake, SAE, CRT/tanaka

2. What caused our agency to focus on this topic?

3. The Generations

4. Baby Boomers – Background • Born between 1946-1964 (Ages 45-63 – “The Boss”) • 73 million • Parents of Millennials • Currently highest household incomes of any generation in history • Staying in the workforce longer

5. Baby Boomers – Influences • Economic prosperity • Drugs, sex and rock n’ roll • Civil rights movement • JFK/MLK/RFK assassinations • Vietnam • Watergate • Women knocking on the glass ceiling

6. Baby Boomers – What other generations say about them Gen Xers • “They’re self-righteous” • “They’re workaholics” • “They do a good job of talking the talk, but they don’t walk the walk” • “Get outta my face” • “What’s the management fad this week?” • “Lighten up; it’s only a job” Millennials • “They’re cool - they’re up to date on the music we like” • “They work too much” Zemke, et al., Generations at Work

7. Generation X – Background • Born between 1965-1977 (Ages 32-44 – “Middle Manager”) • 49 million; smallest generation of the century • Sometimes known as the Lost Generation

8. Generation X – Influences • Reaganomics • AIDS • Iran Contra • First latchkey kids • Divorced parents • Beginning of Internet • Baby Boomers limiting job openings; irritated by Millennials

9. Generation X – What other generations say about them Baby Boomers • “They’re slackers” • “They’re always doing things their own way instead of the prescribed way (our way)” • “They spend too much time on the Internet and E-mail” Millennials • “Cheer up!” Zemke, et al., Generations at Work

10. Millennials – Background • Born between 1978-1995 (Ages 14-31 – “Junior Employees”) • Also known as Generation Y • 80 million • Children of Boomers • Next “Hero” generation

11. Millennials – Influences • End of Cold War • Wholesome family shows • MTV and Reality TV • Internet • Instant messaging • Helicopter parents • Programmed and structured lives • 9/11 • Columbine

12. Millennials – What other generations say about them Baby Boomers • “They’re cute” • “They need to learn to pay their dues” • “They need too much attention” • “Can they do my Web page for me?” Gen Xers • “Neo Boomers” • “Here we go again…another self-absorbed generation of spoiled brats” • “What do you mean, ‘What’s an album’” Zemke, et al., Generations at Work

13. Why should we care about Millennials?

14. Millennials are the largest and the fastest growing group of workers in the U.S.

15. Challenging Millennial characteristics HIGH EXPECTATIONS • Equal footing with senior management • Not willing to “pay their dues” • Immediate gratification

16. Challenging Millennial characteristics HIGH EXPECTATIONS: WHY? • Child-centric culture • Grew up doing things that used to be considered “adult privileges” • Parents focused on self-esteem and instilled a “you can do anything” attitude

17. Challenging Millennial characteristics HIGH RISK • Quick to leave for other opportunities • Loyalty is defined by what’s interesting and challenging, rather than job security

18. Challenging Millennial characteristics HIGH RISK: WHY? • Focused on an accelerated path to success • Saw their parents fall victim to layoffs, down-sizing and right-sizing

19. Impact of the recessionCRT/tanaka-Lumin Collaborative 2009 Survey • 66% of Millennials say they have lowered their expectations of being promoted vs. 51% of other workers (55% of Gen-X, 48% of Boomers) • More than half of Millennials (55%) have experienced a layoff or loss of work in their family within the past year, and nearly three-fourths (72%) feel threatened by a possible layoff or loss of work in the coming months

20. Challenging Millennial characteristics HIGH MAINTENENCE • Expect reward and recognition on a regular basis • Believe that they are all “above average”

21. Challenging Millennial characteristics HIGH MAINTENANCE: WHY? • Every child on the team received a trophy – whether or not they were the MVP • Respect their parents and care about what they think • Over-inflate their contributions • Expect instant feedback

22. Challenging Millennial characteristics HIGH MAINTENENCE • Define their workday differently and want flexibility • Adopted adult “extra-curricular activities”

23. Challenging Millennial characteristics HIGH MAINTENANCE: WHY? • Grew up with multi-tasking with a variety of after-school activities • Highly civic generation

24. Speaking the right lingo

25. Who’s the audience? Pick the phrase that works. Motivation: “Do it your way” “Get together with your team and work to develop a solution” “We’re counting on you to help turn this around”

26. Who’s the audience? Pick the phrase that works. Criticism: “We need to do a better job of tracking our results on this initiative” “Because you did not track results, this program could be in jeopardy” “You did a great job organizing this initiative, but in the future it’s essential to track results so that we can justify the program”

27. 5 Communications Strategiesto Help Bridge the Generational Gap Between Managers and Millennials

28. 1. Set clear directions • Millennials don’t like making mistakes – tell them what it will take to succeed • Give them clear instructions and make it comfortable for them to ask questions. Millennials will try to figure it out themselves, rather than look like they don’t know something

29. 2. Give frequent feedback • Millennials need a dose of praise with constructive criticism • “You’re almost there. Here’s where you’re falling short.” • Define frequency up front. It will be more often than you think is needed • Feedback should be honest, short and to the point. Millennials don’t like anything that is long and drawn out

30. 3. Set short deadlines • Millennials are smart and work fast, but have a harder time looking beyond a month and can easily become bored • Break down large projects so that there are multiple deadlines and opportunities for feedback • Lots of short deadlines help create a feeling of accomplishment with the completion of each task and provides a sense of instant gratification

31. 4. Foster teamwork • Millennials are social beings and work well in teams • Communicate team objectives and tie individual performance to them • Allow them to engage in volunteer and social responsibility programs

32. 5. Use new tools, but keep face-to-face • Provide them with the ability to communicate quickly • Recognize you may only have partial attention – you are competing with cell phones, social networking sites, email and other distractions • Set ground rules through a Social Media Code of Participation

33. New tools not a substitute for face-to-faceCRT/tanaka-Lumin Collaborative 2009 survey

34. 3 Key Conversations Between Managers and Millennials

35. 1. Discussing Salary • Millennials are savvy about evaluating their opportunities, they’ve done the research • Expect Millennials to discuss salary openly, with their boss and their peers • Needs to be competitive, but it is just one factor • Emphasize the full compensation package • Salary ranked #4 in a survey about priorities for the next job

36. 2. Discussing Raises and Promotions • If Millennials are asking for more, they are really saying, “What do I need to do to earn more?” • Conversation strategies to keep top performers • Offer performance-based compensation • Consider flexible scheduling and flexible locations • Give access to decision makers • Implement ongoing training

37. Job attributes that matter to MillennialsCRT/tanaka-Lumin Collaborative 2009 Survey

38. 3. Paying your dues • Hit the ground running and make an impact • Millennials want to identify problems that nobody else has identified, solve problems that nobody else has solved, make existing things better, and invent new things • Tips for assigning “grunt work”: • Give personal credit for results achieved • Define a clear area of responsibility • Give the chance for creative expression

39. Contact Information Debbie MyersExecutive Vice PresidentCRT/tanaka757-640-1982dmyers@crt-tanaka.com

40. Thank You!