Succession Planning and Emerging

GenerationsPresenters: Lois Fried, CPPChris Burley, Sr. Director of Learning, ADP,LLCOctober 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

Objectives

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.

Succession Planning Defined

•Diverse workforce •Tightening labor market

•Shortage of qualified candidates

•Demand for training and development

•Global Market

Fueling Succession Planning

Generations at Work

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

Music

•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.

Disclaimer

•68 million

•18M: 1901-1924

•Silent Majority 50M: 1925-1942

•Cusp: 1940-1945

Builders – Great Generation

•77 M

•1st Wave: 1943-1951

•2nd Wave: 1952-1960

•Cusp: 1960-1965

Baby Boomers

•44.6 M

•1961-1981

•Cusp: 1978-1983

Gen - X

•95 M

•1983-2002

Generation Y/Millennials

“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

What Events Shaped the Builders? (Born 1901-1942)

•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

What Events Shaped the Builders? (Born 1901-1942)

The Boomers?(Born1943-1960)

• Rock and Roll• Vietnam

• School Standardization

• Cold War

• Space travel

• Assassinations

• Women’s Liberation

• Woodstock

• Affluence

• Television

• Suburban schools

• Watergate

• Civil Rights

• Sexual Revolution

• Influenced by peers, schools and media as much as by parents

The Boomers?(Born1943-1960)

The Gen X?(Born 1961-1981)

• Divorce

• Recession

• Computers at home

• Fall of Berlin Wall

• Challenger

• Pan Am 103

• Libya

• Divorce

• 23% Interest rates

• Manufacturing goes oversees

• Global economic competition

• Discussed rather than memorized the Gettysburg address

• Zero-tolerance schools

• Aids

The Gen X?(Born 1961-1981)

Gen Y-Millennials?(Born 1981-2000)

• School shootings

• Highly Scheduled

• Expected a toy with their meal

• Went through school in teams

• Pervasive technology

• 9/11

• Oklahoma City

• Technology Boom

• Child focused world

• Clinton / Lewinsky

• Boomer parents emphasized self-esteem

Gen Y-Millennials?(Born 1981-2000)

Values and Behaviors

• Hard work

• Dedication & sacrifice

• Respect for rules

• Duty before pleasure

• Confidence in Leaders, Experts and Government

• Chain of Command

• Loyal, honorable, disciplined, patient

Values and Behaviors of Builders

• Optimism

• Team orientation

• Personal gratification

• Involvement

• Personal growth

• Focused on Self Improvement

• “Nuclear Families• High Expectations

• Challenge Authority

• Competitive

• Emphasis on fairness

• Process and Procedure

• Workaholic

Values and Behaviors of Boomers

• Diversity

• Techno literacy

• Fun and informality

• Self-reliance

• Pragmatism

• Have seen Org. loyalty doesn’t pay off

• First generation to not do as

well as their parents• Less influence politically

• Expect bad things to happen

• Get Real

• “Family” isn't necessarily Family

• Prefer email to phone

Values and Behaviors of Gen X

• Optimistic

• Feel civic duty

• Confident

• Achievement oriented

• Respect for diversity

• Realistic

• Informal

• Multi-taskers• Comfortable in networks

• 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

Values and Behaviors of Millennials (Gen Y)

Generational Behaviors

Builders: “Always be faithful”

Boomers: “Do your own thing”

Gen X: “Get real”

Millennials (Gen Y): “Believe in yourself”

General Themes of Each Generation

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

Views of Work

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

Views of Work Relationships

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.

Rewards

Builders: School of hard knocks

Boomers: As a reward

Busters: Prepare me to leave, and I’ll stay

Millennials/Gen Y: Duh?!

Training

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

Feedback

Pop Quiz

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

Boomers and Decision Making

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.

Gen X and Work Ethic

Who will get more done if it’s “fun”?

• Builders

• Boomers

• Gen X

• Millennials

Work and Fun!

What kinds of employers are going to be most impressed by your credentials?

• Builders

• Boomers

• Gen X

• Gen Y

Employer Views of Generations

Which generation is most likely to interrupt during a presentation?

• Builders

• Boomers

• Gen X

• Gen Y

The Generations Most Likely to…

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

Generations & Company Loyalty

Putting it All Together

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

Putting it All Together

•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

The Succession PlanningProcess

•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

Career Planning…It’s on you

Questions

Thank you and please remember to complete your evaluation for this session.