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Understanding Generational Types

Jan 17, 2015

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  • 1. Understanding thegenerational types in recruitment, retention andtraining

2. Growth creates opportunities but also challenges 3. According to the World Tourism Organization one new hospitality post is created every minute - qualified supervisory and management personnel with a willingness to gain international experience will literally be global stars Opportunitiesstars. are predicted to grow exponentially as the rapid increase in hospitality activities create new developments and new challenges. Source : 4hoteliers.com 4. In Asias gateway cities, with new hotels springing up on almost every corner, the challenge is to recruit and retain the caliber of staff that will provide the graceful attention to detail and service experience that is described so eloquently in the promotional material. Source : www.hotelasiapacific.com 5. Understand Generational types Why is it important in recruitmentand retention? 6. The demographics are working against usDemographics predict a coming worker shortage as the bay-boom retiresFor the first time ever, the next generation of skilled workers will-neither be larger nor better educated than the previous oneThe skilled worker gap in the US is estimated to be 5.3 million by-2010 and 14 million by 2020In Japan, millions of people are scheduled to retire now-China will need 70,000 experienced corporate leaders within the-next five years due to the growing businesses (al readyexperiencing a 30% shortage)In India, 500,000 new graduates are needed by next year- 7. The Bottom Line While many baby boomers are retiring, nearly 72% said they plan to work afterthey formally retire We need to be concerned with the knowledge transfer from those baby boomerswho are leavingThe Bottom Line: We need to learn how to lead, recognize and engage our workforce now in orderto retain the appropriate talent to be a successful organization Most companies start to redirect their recruiting efforts to include non-traditionalgroups ! We need to ensure that we have the appropriate knowledge transfer from talentthat is retiring We need to facilitate the co-existence of a multi-generational work force. 8. Who are the generations?Generation Xers Baby Boomers Traditionalists Millenials/Millenials/Generation WeGeneration Y 9. The definition of engagementA productive relationship between an organization and itsemployees2-way, productive and considered a win-win. Employee: Organization is considered as transparent, responsive anda partnerCompany: Individual uses discretionary effort, has an emotionalconnection and has accountability The relationship must align with employees attitudes, values andbehaviors from a generational perspective Fact: International Studies show that engagement is at low levels andthat improving economy will lead to increased hiring andcompetition for talent. 10. Why is engagement important?Companies with higher engagement have increasedproductivity These companies tend to outperform those with loweremployee engagement:Higher average revenue growth Lower costs of operating Facts: a study of 50,000 employees indicates that thosewith a higher commitment perform 20% better and are87% less likely to leave the organization 11. TRADITIONALISTS Generation: Born before 1946 Influences: The Great depression, WW2, Korea, Hitler, Chinese revolution, Gandhis assassination, Rise of labor unions Traits: Loyal, desire to leave a legacy, fiscally conservative, faith in institutions40% of this group said their company did not do a good job of making them want to stay 65% said they would not feel comfortable talking to their manager about a different career within their company 72% plan to return to work in some form after their formally retire They gave their lives to their jobs, they made sacrifices. They believe no news is good news => feedback needed only once a year They are fiscally responsible They respect authority and follow the rules Their reward is a job well done 12. BABY BOOMERS Generation: Born between 1946 and 1964 Influences: Vietnam, anti-war protests, space travel, JFK assassination, Korean war, European Union established, Tunisia, Morocco, Sudan and 16 African countries became independent, space travel Traits: Competitive, desiring to put their own stamp on institutions, optimistic, free thinkers43% of this group state there is a lack of mentoring available 30% said not having a mentor contributes to their job dissatisfaction 75% said time off would be the best reward they could receive This is the generation with a voice. They were raised to be better educated, and were told that they could do anything the world is their oyster They are the most competitive generation, they are idealist and free-thinkers This group lives to work vs. works to live 13. GENERATION Xers Generation: Born between 1965 and 1981 Influences: AIDS, Cultural revolution in China, Flood in Pakistan (500,000 lives claimed), Earthquakes in Italy, Bali, Turkey and China claimed lives of 780,000, Energy crisis in West Traits: Resourceful, highly adaptive, self-reliant, sceptical of institutions, independentOnly 17% of this group thought a lifetime career with one company was a good idea (compared to 35% of the boomers and 70% of the traditionalists) 30% of the Gen X have left a job due to lack of training opportunities 80% of Gen X men said time with family is more important than challenging work or higher salary This is the group that wants to know how they are doing They got used of being independent They are constantly looking at what they can put on their resumes 14. Gen X How do you keep them engaged?Provide ongoing opportunities to gain new, marketable skills.Establish a win-win contract; focus on work-life balanceReward results.90% of this group wants immediate feedback, dont wait foryour next 1:1 meeting!Provide learning and development opportunities that extendbeyond current roleThey want to know where they are going whats next?They enjoy straight talk get to the heart of the discussionIndividuality is important to them, they are consideredcompetitiveLoyalty is to their leader 15. GENERATION Y/MILLENIALS Generation: Born between 1982 and 2000 Influences: Technology, Terrorism, Fall of the Berlin Wall, Violence, Nelson Mandela Sworn in, Islamic Militants, Global warming, drugs Traits: Globally concerned and aware, integrated, cyber-literate, realistic, collaborative, group oriented, vocalThis group ranked personal safety as their number one workplace issue Their opinions have been sought out and listened to throughout their lifetime They have seen a world with technology constantly changing, so they enjoy and expect change They move in peer groups and have loyalty to these groups; they are team- orientated by nature Their parents have sought their opinions and included them in decision they are used to that 16. Gen Y How do you keep them engaged?Reinforce their contribution to the team/department/organizationSolicit their opinionLeverage their creativity and innovationProvide rapid career growth/successionLoyalty is to each otherEverything has been fast and furious in their lives, they expectconstant feedback Their need for rapid career growth can be managed dont trainthem on everything right away This is the group who may ask, after three weeks of employment,what their next move will be, how are they progressing, how canthey move up? This is the group who may ask for others to be in the room duringtheir 1:1 meeting with you 17. GENERATION Y/MILLENIALS Generation: Born after 2000 Influences: Technology, Iraq, Effects of 9/11, built-in safety, just-in-time, information & technology, YouTube, Global Village Traits: Tech-native, Media-smart, Artistically inclined, Spiritual, Pan- cultural, culturally identified, integrated$18 billion buying power Marketing is changing to meet their needs and desires edutainment toys focusing on both right and left brain-thinking They are used to on-demand all the time They are surrounded by safety measures and are aware of it it is part of their lives 18. All right, now how do we , HR Managers, usethat knowledge? 19. 1. Organizations that are able to maximize theperformance of every generation of employees willhave a competitive advantage in winning the war fortalent 2. Retaining current employees is critical to our futuresuccess 3. Find new groups of new-hires, search for new staffingsources 4. Leaders should be aware of the differences and adjustto the different needs of the workforce, focusing onindividuals 5. Knowledge must be transferred from talent prior tothem retiring in order to keep competitive advantage 6. Continue to stay informed about Gen Wes ! 20. Our vision To provide exceptional recruitmentand training services in a climatewhere quality of employees is a vitalconsideration

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