Know your XYZs Leveraging generational motivations to enhance recruiting, retention, talent strategy and performance

Transcription

1 Know your XYZs Leveraging generational motivations to enhance recruiting, retention, talent strategy and performance

2 Disclaimer EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young LLP is a client-serving member firm of Ernst & Young Global Limited operating in the US. This presentation is 2015 EYGM Limited. All Rights Reserved. No part of this document may be reproduced, transmitted or otherwise distributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying or using any information storage and retrieval system, without written permission from Ernst & Young LLP. Any reproduction, transmission or distribution of this form or any of the material herein is prohibited and is in violation of US and international law. Ernst & Young LLP expressly disclaims any liability in connection with use of this presentation or its contents by any third party. Views expressed in this presentation are those of the speakers and do not necessarily represent the views of Ernst & Young LLP. This presentation is provided solely for the purpose of enhancing knowledge on tax matters. It does not provide tax advice to any taxpayer because it does not take into account any specific taxpayer s facts and circumstances. These slides are for educational purposes only and are not intended, and should not be relied upon, as accounting advice. Page 2

3 Your presenters Robyn Cameron, McKesson Corporation Associate Program Manager, Talent Management San Francisco, CA Denise Hummel, Ernst & Young LLP Principal, Human Capital San Diego, CA Page 3

4 Key impact areas Communication Leadership behaviors Talent Recruit Retain Advance Communication Page 5

5 Agenda 1 2 The generational shift The business and HR impact 3 Q&A Page 6

6 The generational shift

7 To understand others, start with yourself as boomer or Gen X Recognize Observe Identify How we were raised How we raised our kids Page 8

8 Millennials are already here 80 million millennials today constitute 30% of the population by 2020, they will make up 40% of the population Next year, almost 80% of the EY workforce will be millennials Page 9

9 The next big disrupter: Gen Z Page 10

10 Polling Is your organization prepared to engage the time, money and resources it will take to address generational issues in its talent strategy journey? Page 11

11 The business and HR impact

12 Keeping leaders in touch with generational priorities How do I turn the next generation into loyal and active brand advocates in the marketplace? Chief Marketing Officer Chief Executive Officer How do I create a compelling and motivating vision that drives next gen performance? How do I attract the best young talent and keep them motivated to grow? Head of HR Executive VP of Supply Chain How do I help millennials appreciate the importance of strategic cost management? How do I get ideas and active collaboration from new recruits and young managers? Head of R&D Chief Operating Officer How do I develop future leaders for our expanding overseas operations? Chief Information Officer How do I maintain IT security with an employee population that wants total technology independence? Page 13

13 Millennials Millennials What it means to HR More than 66% believe office attendance is unnecessary. 84% think making a difference in the world is more important than professional recognition. 77% want to attend frequent face-to-face meetings (10% more than Gen X). 73% expect to modify and customize their work computer; 63% will circumvent IT to find needed solutions. 40% believe they should be promoted every two years. 92% believe businesses should be measured by more than profits. Flexible work arrangements Include in strategy development and share information Coach leaders and managers on need for face time Help IT leaders understand the work patterns of millennials Transparency and fairness in performance management process Define your company purpose; instill leadership accountability Sources: Cisco; Bentley University s Center For Women And Business; MarketWatch; Mobile Enterprise; Time; High School Careers Study; Enactus. Page 14

14 Gen Z Gen Z What it means to HR 89% say they spend part of their free time in activities that are productive and creative instead of just hanging out. Unleash their productivity; reduce time wasted in administrative tasks 62% would like to start their own companies rather than work for an established business. Set up innovation forums 71% expect at least their first business venture to fail but view failure as a learning opportunity. Target talent through community collaboration (science prizes, etc.) Top concerns are work-life balance (28%), making enough money (26%) and finding a stable job (23%). Have transparent career plan that focuses on wellness and reduces insecurity Sources: Cisco; Bentley University s Center For Women And Business; MarketWatch; Mobile Enterprise; Time; High School Careers Study; Enactus. Page 15

15 Polling Gen Y wants to be seen as a total human being in the workforce. Are there soft metrics we can use to complement hard metrics related to performance that will take the whole person into consideration? Page 16

16 Tweak current trajectory Align with purpose and culture Make small tweaks to existing strategy Predicative analytics Pairing employees for simultaneous work tasking Facilitated experiential learning Career development Leadership behaviors Page 17

17 Addressing generational shifts in global environment Leaders that live corporate values Alignment between long-term vision and people behaviors Inclusive leadership that leverages diversity Empowered women staff and leaders Business culture transformation Effective global leadership and strategies Understanding diverse global stakeholders Effective team leadership across generational gap Understand growing consumer segment Page 18

18 Polling Do large organizations have the agility to change their KPI's and other goals to prepare for this next generation's values? Page 19

19 Q&A Contact us later: