Hon paul chan

Greater China Talent Management Summit 2011

“Definition of Success - What's the Aspiration of Young Definition of Success - What's the Aspiration of Young People"People"

July 8, 2011

1. Survey Objectives2. Grouping of Working Population3. Survey Findings

4. Survey Conclusions5. Literature Review

6. Definition of Success

Agenda

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1. Survey Objectives To help employers understand Generation Y on their

characteristics and preferences at workplace

To develop appropriate strategies and tactics to work effectively with Generation Y

To exploit Generation Y’s talents for future business development

Sources : Survey conducted by Tamty McGill Consultants International Ltd. on behalf of CPD AllianceSources : Survey conducted by Tamty McGill Consultants International Ltd. on behalf of CPD Alliance

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2. Grouping of Working Population

1922 1945 1964 1980 1994

Silent Generation

Baby Boomer Generation

X

Generation Y

Generation Z

Aged 16-29 Aged 15 or below Aged 30-45 Aged 46-64 Aged 65 or above


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3. Survey Findings4.2 Recruitment and Retention Ranking and mean scores of attributes which Generation Y would look for when they choose/stay in a job

Ranking Scale: 1 = most important5 = least important


Ranking Employers Mean Working Gen-Y Mean

1st Monetary compensation and benefits

1.81Monetary compensation and benefits

2.30

2nd

Clear and achievable career pathway

2.55Clear and achievable career pathway

2.93

3rd Interests and fun 3.10 Job security 3.20

4th Professional advancement 3.24 Professional advancement 3.21

5th Flexible timetable 3.43 Interests and fun 3.43

6th Job security 4.27 Flexible timetable 4.56

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Employers Working Generation Y

% %

Directive mentor 21% 14%

Supportive mentor 26% 48%

Collaborative mentor 44% 27%

Achievement-oriented mentor 9% 11%

4.3 Mentoring

Style of mentor which Generation Y would prefer

3. Survey Findings (cont’d)


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4.3 Mentoring

Style of mentor which Generation Y would prefer (cont’d)


Definition of the four mentoring styles:

• A directive mentor: Gives all the instructions and rules

• A supportive mentor: Offers help when you need according to the situation

• A collaborative mentor: Allows you to have much freedom in work

• An achievement-oriented mentor: Provides ongoing feedback


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4.4 Characteristics of Generation Y at Workplace Mean score of characteristics rated by respondents

Mean score of Characteristics Employers Working Gen-Y

They want to participate in the decision made related to their work.

3.89 4.37

They are more adaptable to different working environment

3.21 4.31

They want to have more instant response when communicating with the others

4.14 4.30

They want to choose their working hours flexibly 4.49 3.92


Ranking Scale:

1 = Totally disagree6 = Totally agree


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4.4 Characteristics of Generation Y at Workplace Mean score of characteristics rated by respondents

Ranking Employers Mean Working Gen-Y Mean

1st They want to choose their working hours flexibly

4.49 They want to participate in the decision made related to their work.

4.37

2nd They want to have more instant response when communicating with the others

4.14 They are more adaptable to different working environment

4.31

3rd They want to participate in the decision made related to their work.

3.89 They want to have more instant response when communicating with the others

4.30

4th They are more adaptable to different working environment

3.21 They want to choose their working hours flexibly

3.92



Ranking Scale:

1 = Totally disagree6 = Totally agree

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4.4 Characteristics of Generation Y at Workplace

Top five adjectives respondents used to describe Generation Y at workplace

Ranking Employers Working Generation Y

1st Self-centered Creative

2nd Impatient Energetic

3rd Creative Self-centered

4th Lazy Hard-working

5th Irresponsible Enjoy freedom



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4.5 Motivation and Rewards

Comparison of employers’, working and non-working Generation Y’s view on rewards which can motivate Generation Y to improve at workplace

Rewards Employers Working Gen- Y

% %

Satisfactory performance in their job 29% 40%

Freedom at work execution 23% 12%

Money and title recognition 44% 43%

More meaningful work given 4% 5%



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4. Survey Conclusions

Both employers and Generation Y think Generation Y are creative. However, employers comment that Generation Y are self-centered, impatient and irresponsible while Generation Y think they are hardworking and energetic

Since Generation Y employees seek more ownership of their job, they want to participate in the decision making process

Generation Y employees are at the start of their career, they desire more support and guidance from employers

Apart from money and title recognition, job satisfaction, learning opportunities and exposure from work are effective ways to motivate Generation Y


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5. Literature Review


Reference Information Kathleen Shaputis, The Crowded Nest Syndrome: Surviving the Return of Adult Children,

Clutter Fairy Publishing, 2004

Ron Alsop, The Trophy Kids Grow Up: How the Millennial Generation is Shaking Up the Workplace, Jossey-Bass, October 13, 2008

Don Taspcott, Grown Up Digital: How the Net Generation is Changing Your World, McGraw-Hill, 2008

Peter Sheahan, Generation Y: Thriving and Surviving with Generation Y at Work, Hardie Grant Books, 2005

Misti Burmeister, From Boomers To Bloggers: Success Strategies Across Generations, Synergy Press, LLC, 2008

Nicole A. Lipkin, Y in the Workplace: Managing the "Me First" Generation, Career Press, 2009 Bruce Tulgan, Not Everyone Gets a Trophy: How to Manage Generation Y, Jossey-Bass, 2009 《四代香港人》呂大樂著香港進一步多媒體有限公司出版

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Comparisons of the Lifestyles of Multi - Generation

Silent Generation (1922 – 1945)

Baby Boomer(1946 – 1964)

Generation X(1965 – 1980)

Generation Y(1981 – 1994)

Generation Z( After 1994)

Core Values

Respect 　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 authority

“Duty before self”

Disciplined

Optimism

Community involvement

Independence

Skeptical of authority

Adaptability

Democracy

Confidence

Fun

Pluralism

Efficiency

Social justice

Individualism

5. Literature Review (cont’d)

Sources :Hammill, Greg. (2005). Mixing and Managing Four Generations of Employees. Peter Sheahan, Generation Y: Thriving and Surviving with Generation Y at Work, Hardie Grant Books, 2005


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Silent Generation(1922 – 1945)




Generation Z( After 1994)

Dealing with Money

For saving

Pay cash

Conservative

For saving

Cautious Earn to spend

Buy now, pay later

Wise about money management

Money-savvy

Comparisons of the Lifestyles of Multi – Generation (cont’d)



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Work Ethic

Value hard work

Respect authority

Adhere to rules

Value job status

Workaholic

Desire quality

Desire clear structure and direction

Question authority

Adaptable to changes

Desire autonomy

Emphasize job significance

Do not believe in career and formal studies

Desire instant results




Generation Y (1981 – 1994)

Generation Z(After 1994)


Generational Working Styles


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Baby Boomer (1946 – 1964)



Generation Z (After 1994)

Work Values

Obligation

Duty before fun

Exciting adventure

Ambitious

Difficult challenge

Means to fulfill goal

Fun in work

Do not value professions

Generational Working Styles (cont’d)



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Generation X (1965 – 1980)



Career Goal

Build a legacy

Seek for job security and stability

Build a stellar career

Seek for job status

Build a career that can use skills and experience

Seek for personal development

Build multi tasking careers

Generational Working Styles (cont’d)



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Preferred Communication MethodsSilent Generation (1922 – 1945)





Communication Style

Formal

One on one

Personal contact

Call at anytime

Expect ongoing feedback

Short messages

More informal

Instant

Rely on the virtual world

Resist verbal and face-to-face communication

Instant



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Communication Media

Phones

Write memo

Mailed letter

Cell phones Cell phones

E-mail

Internet

3G / 4G Cell phones/E-mail

Corridor conversations

Internet

Instant messaging

Social interaction websites

Preferred Communication Methods (cont’d)



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Message preferred

Reserved

Polite

More personal Short and direct

Concise action words

Use abbreviations

Online message

Preferred Communication Methods (cont’d)



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Motivating style

Clear and logical

Love encourage-ment

Ask for their reactions and opinions

Be more like a coach, less of a boss

Being friends with them

Rewards Satisfaction in a job well done

Money and title recognition as rewards

Freedom is the best reward

Meaningful work

Meaningful, challenging work

Motivators



6. Definition of Success

Work life balance

“Chasing Day Light”

Legacies

Value and meaning

Life influences life


6. Definition of Success (cont’d)

Count our Blessing

Stewardship of Affluence

Stewardship of Influence


25Hon. Paul M. P. ChanHon. Paul M. P. Chan

Thank You！www.paulmpchan.hkwww.paulmpchan.hk

Phone: 2894-6188Phone: 2894-6188Email: [email protected]: [email protected]

http://www.paulmpchan.hk/

Hon paul chan

Documents

decision made

hardie grant

achievable

working environment

working gen

cpd alliancesources

cpd alliance6

survey conducted