www.macpa.org

The Maryland Association of CPAs www.blionline.org

The Business Learning Institute

Leading 4 Generations in the Workplace

BWI Hilton December 13, 2013

If there is a conversation about the future of the profession, you're bound to hear Hood's name mentioned as one of

the people leading the way. – Accounting Today

Tom Hood, CPA, CITP, CGMA

•  Named the Second Most Influential in Accounting by Accounting Today Magazine 2013

•  Top 150 Influencer by Linked-In •  Top 25 Influencers in Learning & HR by HR Examiner •  Top 25 Public Accounting Thought Leaders by CPA Practice

Adviser

CEO Maryland Association of CPAs (MACPA) www.macpa.org Business Learning Institute (BLI) www.blionline.org http://www.linkedin.com/in/tomhood/

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Insights to Action ���

“One without the other is either useless or destructive” T

The Research

2 1,000 10,000

Historical Context – The Perfect Storm

•  Web 2.0 •  Globalization •  Generations

Source: Don Tapscott - Wikinomics

The New Normal - VUCA

What is this all about? •  First time ever that we have 4 different generations in

our workforce working together side-by-side •  Traditionalists, Boomers, Xers, and Millennials (Y’s)

•  Each of these generations were impacted by various events that shape who they are and how they work

•  We need to understand what motivates the various generations and how to work together

Common Workplace Conflicts

•  Conflicts frequently have generational issues as their cause •  “He is not committed to his job” •  “She does not listen to my ideas” •  “He has a poor work ethic” •  “He does not follow direction” •  “I can’t believe the way he/she dresses” •  “She treats me like my parents” •  “What do you mean I can’t work from home on Friday’s” •  “She does not listen to my ideas”

A Glance into the Future: Theory:

The oldest, wealthiest, and most visible members of a generation define the behavior and attitude for those that

follow.

A repetitious process… •  A senior generation assumes they know what the

younger generations want (or should want) for themselves; how they should define “success.”

•  The senior generation then prescribes a “pay your dues” process to achieve that “success.”

•  The senior generation thinks, in the back of their mind, that the younger generations will never have to work as hard as they did to become “successful.

Consider the following:

“What happens when generations define success differently?” “How do the conflicting definitions of success affect how we motivate, coach and encourage in the workplace?”

Four Generations in the Profession Millennials (Gen Y) - Born btw 1980 & 2000 Generation X - Born btw 1965 & 1979 Baby Boomers - Born btw 1946 & 1964 Matures (Traditionalists) - Born btw 1945 & 1925

Characteristics Traditionalists Born 1925-1945

Baby Boomers Born 1946-1964

Generation X Born 1965-1977

Millennials Born 1978 or after

Age Span 65 to 86 years old 46 to 64 years old 33 to 45 years old 32 or younger Traits Conservative

Believe in Discipline Respect for authority Loyal Patriotic

Idealistic Break the rules Time stressed Politically correct

Pragmatic Self-sufficient Skeptical Flexible Media/Info/Tech savvy Entrepreneurial

Confident Well-educated Self-sufficient Tolerant Team builders Socially/politically conscious

Defining Events Great depression World War II Korean War

Vietnam War Woodstock Watergate

Missing children Latch Key Kids Computers in school

School shootings Terrorism Corporate scandals

To Them Work Is If you want a roof and food…. Exciting adventure Difficult challenge To make a difference

Work Ethic Loyal/dedicated Driven Balanced Eager but anxious Employment Goals Retirement Second career Work/life balance Unrealistic Education A dream Birthright Way to get to an end A given Communication Face to face Telephone Email IM/Text messaging Time at Work is defined Punch clock Visibility Why does it matter if I get it done

today? Is it 5 PM? I have a life.

Most need in the workplace

Continued involvement past 65 Recognition! More information Praise and fun; or is that fun and praise?

Source: Lee Rainie - Pew Internet

Generational Self-Definition

The Matures (born prior to 1946) Duty, honor, country Dedication, sacrifice Conformity, blending, unity – “We First”

Patience Hard, hard times then prosperity National pride Doing a good job was most important

Age = Seniority

The Baby Boomers (’46 to ’64) Work ethic = Worth. “Workaholic” Competitive Success is largely visible – trophies,

plaques, certificates, etc. Optimistic Consumers Defined by their work I’d like to teach the world to sing…

Generation X (’65 to ’79) Question authorities. Their heroes are people they’ve met; that they

know. Raised as their parent’s friends. Saw lifelong employment end – don’t believe it

will happen to them. Can be cynical. Can be pessimistic. Time horizons are shorter than the Boomers or

Matures. Time is a currency. Carpe Diem approach – Seize the day! “Prove it to me.”

Millennials (Since 1980) Individuals w/ a group orientation (team?) Optimistic Programmed. Coddled. Well looked after. Hard time focusing on anything. Busy & stressed at a young age. Like “X”, raised as their parent’s friends. Are not adults. Are not adolescents. “Adultolescent”

phase. “Future” is very short term. Huge goals. Clueless on the execution.

Another way of looking at this…

Physiological Needs

Safety Needs

Belonging Needs

Esteem Needs

Self Actualization

Matures

Baby Boomers

Gen X

Millennials

Source: Cam Marston

“I have to study politics and war. so that my sons can

study mathematics, commerce and agriculture, so their sons can study poetry,

painting, and music.” - John Quincy Adams

"The speed of change makes you uncomfortable on a regular basis," he

says. "That's so difficult for people who are paying mortgages, buying cars, trying to give their kids the things they had, to get them through school. You want to feel confident in the last 15 years of

your career that after 25 or 30 years of effort, it's just going to work," he says. "But it isn't so. And I don't think you

ever get over the fear of not knowing.” – Doug Gould Ad Exec

Generation Gap or Lap?

Generation Gap or Generation Lap In 1997, young people for

the first time were recognized by adults as

being authorities on something truly

revolutionary – digital technology, interactive

media, and COLLABORATION.”

-  Don Tapscott Grown Up Digital

Maria: Do you think members of Gen-Y have any millennial traits we can actually use to our advantage? Rich: This sounds strange, but hear me out. Our most positive trait is that we’re inexperienced. What I mean with that is, today’s world is a lot different from yesterday’s. Inexperience means rejecting the status quo, and that’s what innovation is. We’re not afraid to, it’s a very positive thing I guess. We’re not stuck in this rut for so many years. The second most important thing is adaptability. We’ve lived in this time of rapid change, especially growing up in the first decade of the millennium. We’re used to it, it’s how we live. Hopefully my taking a risk will inspire others to do something bold.

Generation Gap or Generation Lap

Source: Money Under 30

Leadership & Succession “Even the best strategy can fail if a corporation (or firm) doesn’t have a

cadre of leaders with the right capabilities at the right levels of the organization”

“The failure to assess leadership capacity systematically before launching strategic initiatives can leave tope executives scrambling to fill gaps at the

last minute – with significant consequences”

Leadership as the Starting Point of Strategy CFO.com

The generation gap is widening

www.macpa.org www.blionline.org

•  Generational context is not about age, but common experiences •  Acknowledge your team’s expectations, not just your own •  Different is neither right nor wrong, just different •  Age-ism is the death of any coaching strategy •  Generational understanding does not take the place of concern for the

individual •  Different generations care about different approaches to the same problem

– highlight points accordingly •  Technology is not universal – assess your team members’ affinity level before

making communication assumptions

Some strategies to consider

The Eight Net Gen Norms that will transform business, education and government

1.  Freedom – The freedom to work when and where you want

2.  Customization – My job my life 3.  Scrutiny – I know what you did last night 4.  Integrity – Be a good company to work for 5.  Collaboration – Teamwork 6.  Entertainment – Work should be fun 7.  Speed – Let’s make things happen now! 8.  Innovation – Let me invent

The New Math & Generations L>C

Communication 10,000 Hour Rule

CC > EC

“In a period of rapid change and increasing complexity, the winners are going to be the people who can LEARN faster

than the rate of CHANGE and faster than their COMPETITION.”

- Tom Hood, CPA.CITP.CGMA

Workforce���#TalentWar

Source: Research from CPA Horizons 2025 Project & the Business Learning Institute

The Challenge

"Managing multigenerational workforces is an art in itself. Young workers want to make a quick impact, the middle

generation needs to believe in the mission, and older employees don't like ambivalence. Your move."

Harvard Business School "Working Knowledge“ newsletter, April 2006: "Can you manage different generations?"

h"p://cpa.tc/2qh    

theBounce 10,000 hour rule

#CC>EC # 1 Skill is Collaboration

# 2 Skill is Communication according to 2012 IBM Global CEO Study

My take on generations •  Major issue that needs to be dealt with •  Mutual understanding and communication – bi-directional

not one way •  Accept differences and find the opportunities •  X & Y are about time Boomers are about relationships •  Reverse mentor on technology and communication •  Engagement & participation are key

Motivating the “What’s In It For Me” Workforce ���Cam Marston

“It’s easy to say that these simple demonstrations shouldn‘t be necessary. Many people say that employees

should enter the workforce ready to work. Blame the parents, the schools, the media or something else. But

that won’t change the outcome”

“So deal with it”

•  Managing Intergenerational Conflict in the Workplace – Susan Hayword, MA, CHRP

•  Mixing Four Generations in the Workplace – Cam Marston

•  Grown Up Digital – Don Tapscott •  Y-Size Your Business – Jason Ryan Dorsey

•  For training on generational issues and other success skills – check out our catalog at www.blionline.org

Sources & References

BLI http://www.blionlline.org

Search BLI Catalog for “Generations” http://t.co/iN53cmYiyQ

Tom Hood, CPA.CITP CEO

Maryland Association of CPAs Business Learning Institute

(443) 632-2301 E-mail tom@macpa.org Web http://www.macpa.org http://www.blionline.org Blog http://www.cpasuccess.com

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