Managing Millenials- Generation Y

Managing Millenials- Generation Y

Kathryn Carlson

Product Director, HR Management

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The Four Generations

Veterans, Silents, Traditionalist

63 years and older

Baby Boomers

42 to 63 years old

Generation X, GenX

28 to 42 years old

Generation Y, Millennials, Echo Boomers

27 years and younger

From X to Y

Generation Y or Echo boomers are terms that designate a cohort of people born immediately after "Generation X." It is one of several terms (including The Millennials and the The Internet Generation) used to describe the same group. There is much dispute as to the exact range of birth years that constitutes "Generation Y" and whether this term is specific to North America, the Anglophone world, or people worldwide. The only consensus, by way of its relation to the term "Generation X," is that those born in Generation Y must follow Generation X. – Wikipedia

"Generation Y are variable — dates ranging as widely as 1979 through 1994 and 1982 though 2000 have been used.“ American Associations of Law Libraries

Defining the Generational Character

Traditionalist Baby Boomers GenX Millennial

Core Values Respect ConformityDiscipline

OptimismInvolvement

SkepticalFunInformal

RealismConfidentSocial

Family Traditional Nuclear

Disintegrating Latch-key kids Non-traditional

Communication PhoneOne on OneWritten

Phone“Call me anytime”

Cell phoneEmail“don’t call me at home”

Social mediaCell phone“just text me”

Education A dream A birthright A way to get there

An expense

Money SaversPay Cash

Buy now, pay later

Cautious Earn to spend

What They Want

Traditionalists want RESPECT

Baby Boomers want SUCCESS

GenYs want AUTONOMY

Millennials want VALIDATION

80 million baby boomers 46 million Gen Y

78 million millennials25% of the workforce by 2014 and 47% by 2040

By the Numbers

Columbine

The 2000 Election Crisis

9-11

Cable

Reality TV

War

Terrorism

InternetColumbia Accident

Technology

Gaming

Starbucks

Gen Y Formative Events

Challenger Accident

MTV

SpaceShipOne

GoogleiTunes

Napster

Franchises

Oprah

Daily Show

Southpark

Simpsons

Celebrity Scandals

Amazon.com

Online Shopping

eBay

mac vs. pc

Global Warming

CD’s

youTube

abu ghraib

Blogging

Influencers

Individual - Personality in

Adolescent to young Adulthood

Environment

GEN Y’s Characteristics

At work….

Meritocracy. Only the talented survive and Only the talented survive and anyone with talent should be able to succeed.anyone with talent should be able to succeed.

Camaraderie and Collabroration. Working Working with others, in teams or just collaboratively; group with others, in teams or just collaboratively; group accomplishment is even sweeter than solo success. accomplishment is even sweeter than solo success. A sense of mentoring, or mentors, in the workplace.A sense of mentoring, or mentors, in the workplace.

Non-traditionalist: Non-traditionalist: Doing things differently than in Doing things differently than in the past while making the point, “this is the past while making the point, “this is different.”different.”

Who is Gen X….

Independent: Independent: in choice of company to work for, in choice of company to work for, when to leave, how to get work done, how the work when to leave, how to get work done, how the work should be done are all individual decisions, (with should be done are all individual decisions, (with input from social/professional networks) resulting input from social/professional networks) resulting in little loyalty to employers.in little loyalty to employers.

Unique. hey see themselves as a breed apart, talented, skilled and in demand. They strongly believe in the value of their work and expect “the rest of the world” to appreciate it as well.

Confident. They show little fear of the future, believing that their skills will always be in demand and they have a strong support net in place through family and friends.

Realistic. however, realistic about financial compensation due to ups and downs in the economy.

Why Bother?

Ability to take in discontinuous information and make meaning of it

Uses tools and create technology to change the world in new ways

Can cope with extreme complexity Provide energy and insight into process and

system improvements Will be extremely productive and supportive, if

engaged. Able to innovate and communicate in new and

distinctive ways

What Works For Everyone

Establish objectives, goals and work plans Provide education and training in multiple

formats Give on-going coaching and feedback Offer promotional and career development

opportunities Provide Freedom Balance, 9-5 doesn’t cut it anymore

Don’t Forget…

Generational context is not just about age, but common experiences

Different is neither right nor wrong, just different

Different approaches to the same problem is a strength- highlight accordingly and seek common ground

Never make assumptions Generational understanding does not take

the place of concern for the individual

Questions and Answers

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