ppt 1 the leaders we need
TRANSCRIPT
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The Leaders We Need Session:
How the Next Generation is Changing Leaders and Leadership
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The War for Talent never ended.
Leaders must consistently rethink the way their
companies plan to attract, motivate, and retain
employees.
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The Challenge:
People are the biggest source of competitive advantage.
70% of management will retire in the next 7 years.
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The Challenge:
Less than 10% of leaders are confident in their current talent to
execute on organizational strategy.
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The Cause:
Too many organizations still dismiss talent management as a short-term, tactical issue rather
than an integral part of a long-term business strategy.
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The Central Issue:
Leaders must link business strategy and talent management.
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The Link to Strategy:
• Define strategic vision, initiatives, and goals.
• Define the employee skills, type of motivation, and the mindset and culture
needed to execute.
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The Environmental Situation:
• Managerial Gap
• Rise of the Knowledge Worker
• The Impact of Demographics – Enter the Millennial
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The Managerial Gap:
Front-line confidence in manager’s ability declining steadily since 1999 to 25% in 2008.
• Source: DDI 2009
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The Managerial Gap:
• 45% of newly promoted managers fail within the first 18 months
• 50% of managers in place are assessed as not performing to potential
• Source: Center for Creative Leadership
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Why?
1. Managers do not spend enough time on talent management
2. Too many silos and managers don’t collaborate
3. Managers are not committed to developing people’s capabilities and careers
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Why?4. Managers are unwilling to assess performance of
employees
5. Managers do not address under-performance even when chronic
6. Managers do not understand the business strategy
7. Senior leaders do not support manager development
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The 20 : 60 : 20 Rule
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The Rise of the Knowledge Worker:
• The fastest-growing talent pool – 35% of the workforce
• They are different because they create more profit than other employees – up to 3x more
• They require minimal oversight
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Need to understand personality,
communication, and collaboration.
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The Impact of Demographics:
The Millennials are now 12% of the workforce and will take over in the next 10 years – they are the largest cohort
since the Boomers and will change business and work.
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Millennials have been shaped by the Internet,
information overload, and overzealous parents.
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Millennials demand more flexibility, meaningful jobs,
professional freedom, higher rewards, and a
better work-life balance.
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Millennials are different and more difficult to manage
and lead.
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Organizations need a more inclusive approach to talent
management.
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The Employee Value Proposition:
Why should a smart, energetic, and
ambitious person want to work for your organization?
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Think about culture, competencies, and
motivators.
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Leading across generations:
• Boomers (1946-1964)• GenX (1965-1981)• Millennials (1982-2002)• Homelanders (2002+)
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Why are Millennials important?
• There are 82 million Boomers and 100 million Millennials
• They are the biggest Generation ever• They are different
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Why are Millennials important?
They will re-define work environments, success, communication, management, entrepreneurism, culture, professional
relationships and leadership.
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“These confident young people tend to be very opinionated and
expect to be heard. They also crave feedback and praise for
accomplishments.”Career Journal
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Where they came from:
• Told they were special• Coddled and nurtured• Bike helmets and baby-on-board• Raised to express their feelings• Encouraged to be involved• Told to experience new things
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Millennials have seven core traits:
1. They are special2. They are sheltered3. They are confident4. They are team-oriented5. They are conventional6. They are pressured7. They are achievers
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Millennials are optimistic:
78% said their life would be better in 10 years and 90% said, “If I work hard,
I can achieve my goals.”
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What leaders need to know:
• They are multi-tasking, goal-oriented, and confident
• They want to have fun at work, have work-life balance and work as pack animals
• They have a strong individual spirit and optimism
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“This is the most high-maintenance workforce in the history of the world. The good
news is they are also going to be the highest performing workforce
in the history of the world.”Bruce Tulgan
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The Leader’s Message for Millennials
• We provide new experiences and opportunities• We value integrity and honesty• We challenge you quickly• We give you a path of advancement• We offer a flexible work environment• We reward hard work• We have a fun atmosphere
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The Leader’s Message for Millennials
• We treat you with respect and value your opinion• We provide mentoring and leadership
development• We respect your personal life• We offer a collaborative environment• We support diversity• We are charitable and green
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Millennials expect a lot from their leaders and do not
have the patience to wait.
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“A Millennial’s psychological contract is with the relationships within the organization, not the
organization itself.”University of Wisconsin
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The Millennial Motivators:
• Ask what motivates them• Outline goals and rewards• Recognize• Create a fun culture• Lots of feedback• Rewards of increased responsibility
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Lead the Millennial Culture Shift