Presenters: Lois Fried, CPP Chris Burley, Sr. Director of Learning, ADP,LLC October 9, 2015 • Succession Planning 101 • 21st century events driving succession planning • Defining the generations and what defines them • Understand how social experiences have shaped them • Putting it all together Succession planning is: • A means of identifying critical management leadership positions to ensure continuity, retain & develop intellectual capital for the future, and encourage individual advancement. • A talent management strategy to help identify and foster the development of high-potential employees. •Diverse workforce •Tightening labor market •Shortage of qualified candidates •Demand for training and development •Global Market Who was on the radio when you were in High School? • Elvis, Guy Mitchell, Dean Martin, Pat Boone, Platters • Simon and Garfunkel, Don McLean, Hendrix, Led Zeppelin • Sinead O'Connor, Bell Biv Devoe, Nirvana, Beastie Boys, • Coldplay, Outkast, Dave Mathews Band, Train • Generational differences influence behavior; however, this does not mean that generational differences determine adult interactions. • There are a host of other variables that impact behavior and outcomes. • Generational differences represent only one of these factors. •68 million •18M: 1901-1924 •Silent Majority 50M: 1925-1942 •Cusp: 1940-1945 •77 M •1st Wave: 1943-1951 •2nd Wave: 1952-1960 •Cusp: 1960-1965 •44.6 M •1961-1981 •Cusp: 1978-1983 •95 M •1983-2002 “Each generation imagines itself to be more intelligent than the one that went before it, and wiser that the one that comes after it.” George Orwell • •Great Depression •New Deal, Large Government •Winning WWII (half of all adult men were Vets) •Move from farm to suburbs •Development of Huge Companies •Growth of Communication • Rock and Roll • Affluence • Vietnam • Television • School Standardization • Suburban schools • Cold War • Watergate • Space travel • Civil Rights • Assassinations • Sexual Revolution • Women’s Liberation • Influenced by peers, schools • Woodstock and media as much as by parents • Divorce • Recession • Computers at home • Fall of Berlin Wall • Challenger • Pan Am 103 • Manufacturing goes oversees • Global economic competition • Discussed rather than memorized the Gettysburg address • Zero-tolerance schools • Libya • Divorce • 23% Interest rates • Aids • School shootings • 9/11 • Highly Scheduled • Oklahoma City • Expected a toy with their • Technology Boom meal • Went through school in teams • Pervasive technology • Child focused world • Clinton / Lewinsky • Boomer parents emphasized self-esteem • Hard work • Dedication & sacrifice • Respect for rules • Duty before pleasure • Confidence in Leaders, Experts and Government • Chain of Command • Loyal, honorable, disciplined, patient • Optimism • High Expectations • Team orientation • Challenge Authority • Personal gratification • Competitive • Involvement • Emphasis on fairness • Personal growth • Process and Procedure • Focused on Self Improvement • Workaholic • “Nuclear Families • Diversity • Less influence politically • Techno literacy • Expect bad things to happen • Fun and informality • Get Real • Self-reliance • “Family” isn't necessarily • Pragmatism • Have seen Org. loyalty doesn’t pay off • First generation to not do as well as their parents Family • Prefer email to phone • Optimistic • Comfortable in networks • Feel civic duty • Will have multiple careers • Raised with lots of choices • Realize life could end at any moment - want to make a difference • Expect things to be “right” at work • Huge voting block • Confident • Achievement oriented • Respect for diversity • Realistic • Informal • Multi-taskers Builders: “Always be faithful” Boomers: “Do your own thing” Gen X: “Get real” Millennials (Gen Y): “Believe in yourself” Builders: do what you have to so you can give your family a better life Boomers: work hard and get ahead Gen X: work as hard as you have to and get a life Millennials/Gen Y: work, but make a difference Builders: Team Player - work as a team under the chain of command Boomers: Individual - do your own work, but play by the rules Gen X: Individual - do what needs to be done in the fastest way Millennials/Gen Y: Team Player - work in teams, everyone counts Builders: I want to know I did my duty and I belong here. Boomers: I want status or recognition, a window, perks. Gen X: I want options. Millennials/Gen Y: I want meaning and significance. Builders: School of hard knocks Boomers: As a reward Busters: Prepare me to leave, and I’ll stay Millennials/Gen Y: Duh?! Builders: No news is good news Boomers: Feedback once a year and lots of documentation Gen X: Sorry to interrupt but how am I doing? Millennials/Gen Y: Feedback whenever I want it at the push of a button Pick the statement that would best describe a Baby Boomer’s approach to decision making: • We work through the options and decide together. • Whoever is the most savvy on this topic decides. • We follow a process and the boss ultimately decides. • The boss decides Pick the response that a Gen X’er would say about work ethic: • Work 9 to 5 and stay late with overtime. • It’s a 24/7 world so I'm leaving at 5. I can log on tonight. • Work 8 to 6 and then take it home. • Do the required work, then take it home if you have to. Who will get more done if it’s “fun”? • Builders • Boomers • Gen X • Millennials What kinds of employers are going to be most impressed by your credentials? • Builders • Boomers • Gen X • Gen Y Which generation is most likely to interrupt during a presentation? • Builders • Boomers • Gen X • Gen Y Which of the 2 generations are the most loyal to their boss and company? • Boomers and Millennials • Gen X and Builders • Builders and Boomers • Gen Y and Builders Demystifying the Millennials • Millennials expect more compensation and faster promotion than other generations… • 6%X,3% all others. • Millennials use technology at work more than • other generations…33%X, 35%Y, 30%Boomers • Millennials are more likely to accept a new job than other generations for almost any reason…57%X,52%Y, 44% Boomers • Provide Accurate, Ongoing Feedback on Performance and Potential • Access capabilities and determine options • Demonstrate Realistic Career Paths • Use Millennials to Provide Feedback on Technology Platforms-reverse mentoring • Hold Frequent Career Discussions • Taking action • Assessing individual skills and abilities • Onus is on the employee • Knowing when to stay on course, take a turn or set off in a new direction • Building technical skills • Mastering functional skills • Developing organizational skills • Communication and collaboration Thank you and please remember to complete your evaluation for this session.