how generation y and boomers will reshape your agenda
DESCRIPTION
In order to attract new talent and drive growth in the future, companies want to know what will constitute an employer of “choice”. This research suggests that Baby Boomers and Generation Y have a lot in common. Policies and strategies are suggested to take advantage of this, and managers may have to change the traditional cash orientated rewards system. These strategies are then interpreted to provide practical advice to a consultant.TRANSCRIPT
How Generation Y and Boomers Will Reshape Your Agenda Hewlett, S Sherbin, L Sumberg, K
Harvard Business Review July-August 2009
What will constitute an employer of choice?
Boomers and Gen Y are similar
Policies and strategiesto attract Boomers & Gen Y
Impact on IS consulting
Overview
Dav
e W
heel
er
The Research 2 National surveys of employed
university students June 2008 and January 2009 Interviews and focus groups
Some definitions
Generation Years In 2009 they are…
Veterans Born before 1945 > 64 years old
Baby Boomers (aka Boomers)
Born 1946 – 1964 45 – 63 years old
Generation X Born 1965 – 1978 31 – 44 years old
Generation Y Born 1979 – 1994 15 – 30 years old
Generation Z (aka iGeneration)
Born 1995 – 2010 0 – 14 years old
Generation Alpha? Born 2011 – 2026??
Odyssey - Take time out to explore passions, hobbies or volunteer work.
Shared Vision and Values – Both groups have a sense of obligation to make a positive contribution to society.
Achieving balance with flex and remote working – Work / life balance and working remotely are important to both groups.
Mentoring and generation jumping – Gen Y’s look to Boomers as mentors while Boomers like to take Gen Y’s under their wings, despite the layers of corporate hierarchy.
Kippers – Kids in Parents Pockets Eroding Retirement Savings. Child-parent bonds are very strong, with many Boomers providing financial support to their adult children.
Rewards Remix - Other forms of pay are becoming important.
How are Boomers and Gen Y alike?
How to select a “Company of Choice”
Impact on Consulting
How to select a “Company of Choice” Be aware of the generational
differences
Impact on Consulting
How to select a “Company of Choice” Be aware of the generational
differences Assess yourself in terms of the “cultural
fit”
Impact on Consulting
Impact on Consulting How to select a “Company of Choice” Be aware of the generational
differences Assess yourself in terms of the “cultural
fit” Connectivity
Impact on Consulting How to select a “Company of Choice” Be aware of the generational
differences Assess yourself in terms of the “cultural
fit” Connectivity What will external consulting become?
Impact on Consulting How to select a “Company of Choice” Be aware of the generational
differences Assess yourself in terms of the “cultural
fit” Connectivity What will external consulting become? Understand the style of management
Impact on Consulting How to select a “Company of Choice” Be aware of the generational
differences Assess yourself in terms of the “cultural
fit” Connectivity What will external consulting become? Understand the style of management Gen Y’s managing Gen Z’s?
Questions