Ssohr harnessing multigenerational workforce 21 feb2013 prof sattar bawany

© 2013 Centre for Executive Educationwww.ipma.com.sg

11TH ANNUAL HR TRANSFORMATION & SERVICE DELIVERY SUMMITHarnessing the Potential of Multigenerational Workforce

Prof Sattar BawanyCEO, Centre for Executive EducationStrategic Advisor, IPMA Asia PacificManaging Director, EDA Asia Pacific

20 – 22 February 2013 Grand Copthorne Hotel, Singapore

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© 2013 Centre for Executive Education Pte Ltd www.ipma.com.sg

Every morning in Asia, a tiger wakes up. It knows it must outrun the slowest deer or it will starve to death.

Every morning in Asia, a deer wakes up. It knows it must run faster than the fastest tiger or it will be killed.

It doesn’t matter whether you are a tiger or a deer: when the sun comes up, you’d better be running…..

Are You A Tiger Or Deer?

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The Centre for Executive Education (CEE) is the Executive Development Division of The International Professional Managers Association (IPMA).

IPMA is a global ‘not-for-profit’ (NPO) members organisation headquartered in Kent, UK with Regional Offices in Europe, Africa and Asia Pacific

CEE’s mission is to assist client organisation to secure a leading position in their respective market place and developing a sustainable competitive advantage through developing their key asset, intellectual capital of the people.

CEE is the Strategic Partner of Executive Development Associates Inc. (EDA) for executive coaching and custom-designed leadership development solutions to accelerate individual performance

EDA established in 1982 is a pioneer and leader in creating custom-designed learning and executive/leadership development strategies, programs and processes to help clients (many Fortune 500 companies) achieve their strategic objectives and win in the marketplace.

Who We Are

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CEO, The Centre for Executive Education Strategic Advisor, IPMA Asia Pacific Managing Director & C-Suite Coach with EDA Asia Pacific Co-Chair of the Human Capital Committee of the American Chamber of

Commerce in Singapore (AmCham Singapore). Member of Frontier Strategy Group’s Expert Advisory Network (EAN) for

Talent Management issues in Asia Pacific advising CEOs and CHROs of global and regional organisations.

Over 25 years’ international business management in executive coaching, facilitation, leadership development and training

Adjunct Professor of Strategy at Paris Graduate School of Management teaching international business strategies, leadership development and human resource courses

Previously assumed senior leadership roles with global management & HR consulting firms: DBM Asia Pacific, Mercer Human Resource Consulting, The Hay Group and Forum Corp

About Your Speaker

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Traditionalists Baby Boomers Gen X Gen YCareer Goals

Legacy Stellar Career Portable Career Parallel Careers

Rewards Satisfaction of a Job Well Done

Money, Title, Recognition, Corner Office

Freedom Is The Ultimate Reward

Work That Has Meaning

Work-Life Balance

Support in shifting the balance

Help me balance everyone else and find meaning in myself

Give me balance NOW! Not when I’m 65

Work isn’t everything. Flexibility to balance my other activities

Job Changing

Carries a stigma

Puts you behind Is Necessary Is Expected

Training I learned the hard way, you can too!

Train them too much and they’ll leave

The more they learn, the more they’ll stay

Continuous learning is a way of life

Source: Lynne C. Lancaster and David Stallman ‘When Generations Collide: Who They Are. Why They Clash. How to Solve the Generational Puzzle at Work’, 2002.

Overview of Generational Differences

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Source: Sattar Bawany, “Unlocking the benefits of a multi-generational workforce in Singapore” published by Singapore Business Review, 24 January 2013: http://sbr.com.sg/hr-education/commentary/unlocking-benefits-multi-generational-workforce-in-singapore

Multigenerational Work PerspectivesGeneration Years Born Work Perspectives

Traditionalists 1922 - 1945 “Company loyalty” - Believed they'd work for the samecompany their entire career.

Boomers 1946 - 1964 “Live to work” - Believe in putting in face time at theoffice. Women enter the workforce in large numbers.

Gen Xers 1965 - 1980 “Work to live” - Believe that work should not define theirlives. Dual-earner couples become the norm.

Gen Yers (Millennials) 1981 - 1994 “Work my way” - Devoted to their own careers, not totheir companies. Desire meaningful work.

Gen Zers (Linksters) 1995 to present “Living and Working their way” - Their struggles in thework environment are tied to their youth andinexperience. Desire for change, stimulation, learningand promotion that will conflict with traditionalorganisational hierarchies.

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Baby Boomers are retiring at the rate of one every eight seconds

The vast majority of organizational leaders are Baby Boomers with the most typical age being 58 years old.

There are 11% fewer Gen Xersthan Baby Boomers

Generation Y (twenty-five and under) will not be management/leadership material for years to come

EDA Research: The New Realities

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Source: The Straits Times, 8 April 2010

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Changing Demographics Increasing numbers of Gen Y entering the workforce. Baby Boomers & Traditionalists are continuing to work for longer

tenures or are Re-engaged into the workforce. Alliance for Fair Employment Practices (TAFEP), 2010:

Gen X and Gen Y make up 60% of the Singapore workforce. Means that 40% of the Singapore workforce is over 45 years of

age. Multi-generational teams improve organizational

effectiveness and performance.Adapted from: TAFEP’s Report on ‘Harnessing the Potential of Singapore’s Multi-generational Workforce’, 2010http://www.fairemployment.sg/assets/files/Publications/Publication%20-%20Harnessing%20the%20Potential% 20of%20Singapore's%20Multi-Generational%20Workforce.pdf

Generational Diversity in Today’s Workforce

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More flexible in changing demographics

Broader insight into your customer base

Wider pool of Talent

Diverse perspectives leading to stronger decision-making

Greater innovation and creativity

Meet the needs of diverse stakeholders

Multigenerational workplaces can be a source of positive challenge,opportunity, and significant growth if managed effectively.

Benefits of Multigenerational Teams

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How Does the Multi-Generational Workforce Impact Employers?HR professionals can play a strategic role by partnering with their Business Leaders in meeting the needs of their employees.

Are there specific business units that have a higher percentage of baby boomers set to retire in the next 10 years?

What are some possible flexible work options that will simultaneously attract all generations while encouraging Traditionalists and Boomers to remain employed and play key roles in knowledge transfer, leadership development, and mentoring of younger workers?

How can Human Resources professionals coach managers to maximize the performance of each generation?

What specific tactics are HR professionals using to attract the ‘best and brightest’ of the Gen Y employees that might differ from strategies used for other generations?

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Source: “’Y’ Are They Different” – A Study of Gen Y at Work, Their Views and How They are Viewed, Published by GMP & Temasek Polytechnic, 2009

Leadership Characteristics That Gen Y-ers Want Their Leaders To Demonstrate

Leadership Characteristics That Managers From The Other Generations Believe In Demonstrating To Gen Y-ers

1. Caring (54%) 1. Competent (54%)

2. Inspiring (45%) 2. Honest (32%)

3. Competent (44%) 3. Forward-looking (31%)*Numbers in parentheses reflect percentage of respondents who selected this as a preferred strategy.

http://www.gmprecruit.com/resource_hub/..%5Cpdf%5CResourceHub%5Cgeny_press.pdf

Leading Gen Y Employees

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Top Factors That Motivate Gen Y To Stay In Organizations

Retention Strategies Most Utilized By Organizations

1. Opportunities for Career Advancement (63%)

1. Opportunities for Career Advancement (43%)

2. Good Work-Life Harmony (41%) 2. Emphasis on Learning & Development (37%)

3. Good Relationships (40%) 3. Good Compensation (24%)

*Numbers in parentheses reflect percentage of respondents who selected this as a preferred strategy.

Engaging Gen Y Employees

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Calculate Your Current (and Future)Investment in Gen Y:

How many Gen Y employees does yourorganisation currently have?

What is the average compensation forGen Y employee at your organisation?

Multiply the number of Gen Y employees xYour average compensation.

Can be seen as the risk your organisationtakes in assuming Gen Y will meet youremployment needs.

The better managed this investment, thelower the risk and the better return for allinvolved.

Exercise: Managing the ROI on Gen Y?

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Bringing a New Type of Language to the Workplace Your gf is getto lol

Rofl nah she’s cool

Lol coolies ttyl gtg pos

Your girlfriend is lower class laugh out loud

Rolling on the floor…

Laugh out loud, stay cool, talk to you later, got to go, parents over (my) shoulder

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Generation Z: The digital natives

Students today are all “native speakers” of

the digital language of computers, video games,

instantaneous communication, and the

Internet.

Students today are all “native speakers” of

the digital language of computers, video games,

instantaneous communication, and the

Internet.

Source: Marc Prensky, “Digital Natives, Digital Immigrants” (2001)

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The Linkster Generation (those born after 1995) is the onejust entering the workforce now. Like any other generation,it brings its own mindset into the workforce.

Linksters primarily work part-time while attending school. They are called Linksters because no other generation has

ever been so linked to each other and to the world throughtechnology. Their struggles in the work environment aretied to their youth and inexperience.

They are complete digital natives and cannot functionwithout communicating through social media.

Desire for change, stimulation, learning and promotion thatwill conflict with traditional organisational hierarchies.

Source: Generations, Inc., by Meagan Johnson and Larry Johnson. 2010, AMACOM.

Gen Z or The Linksters

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Get them into a routine that they can master. Generation Z will be unlike Baby Boomers, who are often

loyal to a firm. They don’t expect jobs for life and will moveonto the next job, similar to Generation Y.

Managers of Generation Z employees will have to beprepared to give regular feedback that tells them they aremaking a difference to the organisation

Development and work/life balance are more important thanfinancial reward, with both Gen Y & Z being committed totheir own personal learning and development.

Source: Edge Online Future of work - Employees 3.0: Managing Generation Z published on 28 August 2012http://www.i-l-m.com/edge/managing_generation_Z.aspx

Managing Gen Z

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• Profitability/ROI• Cost Optimisation• Employee Turnover /

Retention

• Employee Satisfaction• Employee Loyalty

• Policy on CSR, Sabbatical• Rewards and Flexibility• Culture, Espirit De Corps

• EQ Level & EI Competencies• Servant Leadership/Level 5• Leadership Styles

Organisational Results

Talent Engagement

Organisational Climate

Leadership Effectiveness

Customer Loyalty• Customer Satisfaction• Service Value/

Relationship

Bawany, S. (2011) “Ways to achieve Organisational Success: Role of Leaders in Engaging the Multi-Generational Workforce” published by Singapore Business Review, 1st November 2011. http://sbr.com.sg/hreducation/commentary/ways-achieve-incredible-organizational-success-0

Engaging Your Multi-Gen Talent

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Conclusion: Strategic Tips Build team spirit by talking about the

generational issues to depersonalize the conflict that arises due to the differences.

Recognize and celebrate the differences. Over communicate. Seek to understand

and only then to be understood. Engage through Managerial Coaching Encourage constant feedback and show

recognition for Y-er’s & Z-er’s contribution “Opportunities for Career Advancement”

and “Good Relationships” are key factors Learn to use technology – it is here to

stay!

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http://www.youtube.com/watch?v=03o1JZ7c7gI

Video: Leading Multigenerational Team

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If you do tomorrow what you did yesterday

Your Future is History……………

If you do tomorrow what we’ve covered today

Your Future is Historic!!!

Final Thoughts

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Prof Sattar BawanyCEO, Centre for Executive Education &

Strategic Advisor, IPMA Asia Pacific Email: [email protected]: www.linkedin.com/in/bawanyFacebook: www.facebook.com/ipma.singaporeTwitter: www.twitter.com/sattarbawanySkype: sattar.bawany

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