MACPA Generational Symposium - 2013
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www.macpa.org
The Maryland Association of CPAs www.blionline.org
The Business Learning Institute
Generational Symposium Turf Valley Conference Center
June 25, 2013 #4GenSymp
Moderator: Tom Hood • Named as fourth Most Influential in Accounting by
Accounting Today Magazine • Top 150 Influencer by Linked-In • Top 25 Influencers in Learning & HR by HR Examiner • Top 25 Public Accounting Thought Leaders by CPA
Practice Adviser • Working on Learning Management with AICPA/
CPA2Biz, Cloud Curriculum, Performance Management /XBRL, Leadership & Generations
Tom Hood, CPA, CITP, CGMA CEO
MACPA www.macpa.org and Business Learning Institute (BLI) www.blionline.org
http://www.linkedin.com/in/tomhood/
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Insights to Action ���
“One without the other is either useless or destructive” T
The Research
2 1,000 10,000
Historical Context – The Perfect Storm
• Web 2.0 • Globalization • Generations
Source: Don Tapscott - Wikinomics
The New Normal - VUCA
What is this all about? • First time ever that we have 4 different generations in
our workforce working together side-by-side • Traditionalists, Boomers, Xers, and Millennials (Y’s)
• Each of these generations were impacted by various events that shape who they are and how they work
• We need to understand what motivates the various generations and how to work together
Common Workplace Conflicts
• Conflicts frequently have generational issues as their cause • “He is not committed to his job” • “She does not listen to my ideas” • “He has a poor work ethic” • “He does not follow direction” • “I can’t believe the way he/she dresses” • “She treats me like my parents” • “What do you mean I can’t work from home on Friday’s” • “She does not listen to my ideas”
A Glance into the Future: Theory:
The oldest, wealthiest, and most visible members of a generation define the behavior and attitude for those that
follow.
A repetitious process… • A senior generation assumes they know what the
younger generations want (or should want) for themselves; how they should define “success.”
• The senior generation then prescribes a “pay your dues” process to achieve that “success.”
• The senior generation thinks, in the back of their mind, that the younger generations will never have to work as hard as they did to become “successful.
Consider the following:
“What happens when generations define success differently?” “How do the conflicting definitions of success affect how we motivate, coach and encourage in the workplace?”
Four Generations in the Profession Millennials (Gen Y) - Born btw 1980 & 2000 Generation X - Born btw 1965 & 1979 Baby Boomers - Born btw 1946 & 1964 Matures (Traditionalists) - Born btw 1945 & 1925
Characteristics Traditionalists Born 1925-1945
Baby Boomers Born 1946-1964
Generation X Born 1965-1977
Millennials Born 1978 or after
Age Span 65 to 86 years old 46 to 64 years old 33 to 45 years old 32 or younger Traits Conservative
Believe in Discipline Respect for authority Loyal Patriotic
Idealistic Break the rules Time stressed Politically correct
Pragmatic Self-sufficient Skeptical Flexible Media/Info/Tech savvy Entrepreneurial
Confident Well-educated Self-sufficient Tolerant Team builders Socially/politically conscious
Defining Events Great depression World War II Korean War
Vietnam War Woodstock Watergate
Missing children Latch Key Kids Computers in school
School shootings Terrorism Corporate scandals
To Them Work Is If you want a roof and food…. Exciting adventure Difficult challenge To make a difference
Work Ethic Loyal/dedicated Driven Balanced Eager but anxious Employment Goals Retirement Second career Work/life balance Unrealistic Education A dream Birthright Way to get to an end A given Communication Face to face Telephone Email IM/Text messaging Time at Work is defined Punch clock Visibility Why does it matter if I get it done
today? Is it 5 PM? I have a life.
Most need in the workplace
Continued involvement past 65 Recognition! More information Praise and fun; or is that fun and praise?
Source: Lee Rainie - Pew Internet
Generational Self-Definition
The Matures (born prior to 1946) Duty, honor, country Dedication, sacrifice Conformity, blending, unity – “We First”
Patience Hard, hard times then prosperity National pride Doing a good job was most important
Age = Seniority
The Baby Boomers (’46 to ’64) Work ethic = Worth. “Workaholic” Competitive Success is largely visible – trophies,
plaques, certificates, etc. Optimistic Consumers Defined by their work I’d like to teach the world to sing…
Generation X (’65 to ’79) Question authorities. Their heroes are people they’ve met; that they
know. Raised as their parent’s friends. Saw lifelong employment end – don’t believe it
will happen to them. Can be cynical. Can be pessimistic. Time horizons are shorter than the Boomers or
Matures. Time is a currency. Carpe Diem approach – Seize the day! “Prove it to me.”
Millennials (Since 1980) Individuals w/ a group orientation (team?) Optimistic Programmed. Coddled. Well looked after. Hard time focusing on anything. Busy & stressed at a young age. Like “X”, raised as their parent’s friends. Are not adults. Are not adolescents. “Adultolescent”
phase. “Future” is very short term. Huge goals. Clueless on the execution.
Another way of looking at this…
Physiological Needs
Safety Needs
Belonging Needs
Esteem Needs
Self Actualization
Matures
Baby Boomers
Gen X
Millennials
Source: Cam Marston
“I have to study politics and war. so that my sons can
study mathematics, commerce and agriculture, so their sons can study poetry,
painting, and music.” - John Quincy Adams
"The speed of change makes you uncomfortable on a regular basis," he
says. "That's so difficult for people who are paying mortgages, buying cars, trying to give their kids the things they had, to get them through school. You want to feel confident in the last 15 years of
your career that after 25 or 30 years of effort, it's just going to work," he says. "But it isn't so. And I don't think you
ever get over the fear of not knowing.” – Doug Gould Ad Exec
Generation Gap or Lap?
Generation Gap or Generation Lap In 1997, young people for
the first time were recognized by adults as
being authorities on something truly
revolutionary – digital technology, interactive
media, and COLLABORATION.”
- Don Tapscott Grown Up Digital
Maria: Do you think members of Gen-Y have any millennial traits we can actually use to our advantage? Rich: This sounds strange, but hear me out. Our most positive trait is that we’re inexperienced. What I mean with that is, today’s world is a lot different from yesterday’s. Inexperience means rejecting the status quo, and that’s what innovation is. We’re not afraid to, it’s a very positive thing I guess. We’re not stuck in this rut for so many years. The second most important thing is adaptability. We’ve lived in this time of rapid change, especially growing up in the first decade of the millennium. We’re used to it, it’s how we live. Hopefully my taking a risk will inspire others to do something bold.
Generation Gap or Generation Lap
Source: Money Under 30
Leadership & Succession “Even the best strategy can fail if a corporation (or firm) doesn’t have a
cadre of leaders with the right capabilities at the right levels of the organization”
“The failure to assess leadership capacity systematically before launching strategic initiatives can leave tope executives scrambling to fill gaps at the
last minute – with significant consequences”
Leadership as the Starting Point of Strategy CFO.com
American Institute of CPAs
The generation gap is widening
Millennials are the largest generation yet
Statistics taken from the U.S. Census Bureau
Unfortunately, this industry will continue to reward those who sacrifice their time, their family and their lives over those who find ways to manage effectively, and become more efficient. The end result is that current senior management will label my generation as lazy and arrogant (both are partially true). If you tell me that I can achieve success, as my superiors have, by working 3,000 hours a year I would see it as a failure. If I have to work as much as someone else did 20 years ago to accomplish the same results have we really progressed at all?
Source: A young professional’s viewpoint from David Maister’s Blog Entry“Why does bad management thrive so much?”
A Gen-Y Perspective on CPA Profession
www.macpa.org www.blionline.org
• Generational context is not about age, but common experiences • Acknowledge your team’s expectations, not just your own • Different is neither right nor wrong, just different • Age-ism is the death of any coaching strategy • Generational understanding does not take the place of concern for the
individual • Different generations care about different approaches to the same problem
– highlight points accordingly • Technology is not universal – assess your team members’ affinity level before
making communication assumptions
Some strategies to consider
The Eight Net Gen Norms that will transform business, education and government
1. Freedom – The freedom to work when and where you want
2. Customization – My job my life 3. Scrutiny – I know what you did last night 4. Integrity – Be a good company to work for 5. Collaboration – Teamwork 6. Entertainment – Work should be fun 7. Speed – Let’s make things happen now! 8. Innovation – Let me invent
The New Math & Generations L>C
Communication 10,000 Hour Rule
CC > EC
“In a period of rapid change and increasing complexity, the winners are going to be the people who can LEARN faster
than the rate of CHANGE and faster than their COMPETITION.”
- Tom Hood, CPA.CITP.CGMA
Workforce���#TalentWar
Source: Research from CPA Horizons 2025 Project & the Business Learning Institute
The Challenge
"Managing multigenerational workforces is an art in itself. Young workers want to make a quick impact, the middle
generation needs to believe in the mission, and older employees don't like ambivalence. Your move."
Harvard Business School "Working Knowledge“ newsletter, April 2006: "Can you manage different generations?"
h"p://cpa.tc/2qh
theBounce 10,000 hour rule
#CC>EC # 1 Skill is Collaboration
# 2 Skill is Communication according to 2012 IBM Global CEO Study
My take on generations • Major issue that needs to be dealt with • Mutual understanding and communication – bi-directional
not one way • Accept differences and find the opportunities • X & Y are about time Boomers are about relationships • Reverse mentor on technology and communication • Engagement & participation are key
Motivating the “What’s In It For Me” Workforce ���Cam Marston
“It’s easy to say that these simple demonstrations shouldn’t be necessary. Many people say that
employees should enter the workforce ready to work. Blame the parents, the schools, the media or something
else. But that won’t change the outcome”
“So deal with it”
Introducing our Multi-Gen Panel
Byron Patrick, Katy Koza, Anoop Mehta, Tami Bensky, Colin Rau & Matt Ho
Audience Q&A
MBSN – 5 Bold Steps
Bill Sheridan’s Flickr Album http://cpa.tc/2u0 Tom’s Storify Recap http://cpa.tc/2u2
BLI http://www.blionlline.org
Search BLI Catalog for “Generations” http://t.co/iN53cmYiyQ
http://cpa.tc/2u1
National Press Coverage
• Managing Intergenerational Conflict in the Workplace – Susan Hayword, MA, CHRP
• Mixing Four Generations in the Workplace – Cam Marston
• Grown Up Digital – Don Tapscott • Y-Size Your Business – Jason Ryan Dorsey
• For training on generational issues and other success skills – check out our catalog at www.blionline.org
Sources & References
Tom Hood, CPA.CITP CEO
Maryland Association of CPAs Business Learning Institute
(443) 632-2301 E-mail tom@macpa.org Web http://www.macpa.org http://www.blionline.org Blog http://www.cpasuccess.com
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