The Facto r Harness the Power of the Next Generations

The Facto r Harness the Power of the Next Generations

Boom or Bust? Unrealistic No Highly Trusts Disrespectful Attention Disciplined Lazy Motivated Authority Span Likes Methodical Cynical Structure

Are We Prepared? Stereotyping NOT keeping pace – Technology Management practices Hiring and Training NOT changing Waiting for THEM to change

The End of the World? The Industrial Revolution The Roaring Twenties Rock n’ Roll The Mini Skirt Long-Haired Hippies Technology

Questions to Help Us Change Who Are They? What Do They Want? How Can We Succeed?

Who are They?

Defining The Generations Born Seniors 1920 1942 Age 65 87 U.S. Pop. 42 Million

Who are Seniors? The Great Depression World War II Unprecedented Economic Prosperity Chaos of the 60s

Defining The Generations Born Seniors Boomers Age 1920 1942 65 87 1943 1963 43 64 U.S. Pop. 42 Million 82 Million

Who Are Baby Boomers? Peace and prosperity Anti-establishment politics Civil Rights movement Anti-war Environmentalism Raised with television Music Is Important Rock n’ Roll Folk Hard Rock Disco

Defining The Generations Born Seniors Boomers Gen X Age 1920 1942 65 87 1943 1963 43 64 1964 1980 26 42 U.S. Pop. 42 Million 82 Million 68 Million

Who Is Generation X? Latch-Key Kids Downsizing, Restructuring, Takeovers Shaped by Mass-Media, not Politics Cable, MTV, Video Games Technology

Defining The Generations Seniors Boomers Gen X Gen Y Born Age 1920 - 1942 65 - 87 1943 - 1963 43 - 64 42 Million 1964 - 1980 26 - 42 82 Million 1981 - 2000 06 - 25 68 Million U.S. Pop. 80 Million

Who is Generation Y? Terrorism Booming economy then bust The Electronic Age Media everywhere! Cell phones Online for EVERYTHING – Education Shopping – On Demand Social Networking

What Do They Want?

X and Y as Consumers Skeptical/Informed Style matters Will search for value What do others say? Empowered and vocal Demand customization “Give me what I want, when I want “Or Else.” it.”

X and Y at Work 77M Boomers replaced by 45M Xers Career Systems International

X and Y at Work Stereotype Reality Not Loyal Hate Structure Don’t Work Hard Two-Way Loyalty Adept at Change

X and Y at Work 77M Boomers replaced by 45M Xers Career Systems International Hours Worked per Week – Boomers in 1977 – GenXers in 2002 – 42.9 45.6 American Business Coalition

X and Y at Work Stereotype Reality Not Loyal Hate Structure Don’t Work Hard Not Motivated Two-Way Loyalty Adept at Change Focused on Results Seek Balance

X and Y at Work 77M Boomers replaced by 45M Xers Career Systems International Hours Worked per Week – Boomers in 1977 – 42.9 GenXers in 2002 – 45.6 American Business Coalition Want jobs with more responsibility? 1992 - 68% of Men, 57% of Women 2002 – 52% of Men, 38% of Women American Business Coalition

How Can We Succeed?

How Can We Succeed? Learn Research Quit preaching LISTEN and OBSERVE! Accept Change Collaborate Combine Strengths Overcome Weaknesses

Change for Today’s Consumers Messaging is OUT The Customer Experience is IN Frequently Update Styles Mass Customize (but watch the Mass) Tap Into the Network Constantly Create More Value

Collaborate at Work Mature Too Loyal Structured Effort Process Next Too Wary Change Results Technology Best Partners Evolution Innovation Success

How Can We Succeed? Together

Thank You!