Intergenerational Daycare

In the United States, children and elderly people increasingly live in age-segregated worlds. In response to this trend over 300 daycare centers now offer an intergenerational component. ONE Generation in Van Nuys, California is considered a national role model for providing services for both seniors and children. Their intergenerational approach to aging and child development has made them a leader in building programs that enhance the lives of both generations.

At the Interchange Group, intergenerational relationships are a core value and drive our work in organizations. As our holiday gift to our clients and community, we have chosen to donate funds to ONE Generation to help provide critical services and life enriching programs for children and seniors. We invite you to learn more about the intergenerational care facilities in your own community!

Happy Holidays from the Interchange Group Team!

Generational Differences in Volunteerism: Recruitment & Retention Strategies for Nonprofits

On November 19, the Interchange Group will be hosting its popular online seminar, "Generational Differences in Volunteerism - Recruitment & Retention Strategies for Nonprofits." The 45-minute session is designed to equip nonprofit executives and boards with new insight and techniques for recruiting, retaining and engaging top quality board members and volunteers. Key learning includes:

• Tap into the unique values and motivations for volunteering that each generation possesses
• Optimize the skills, experience and resources of older generations to increase participation and effectiveness
• Harness the energy of younger generations and the power of social online networking in nonprofit fundraising and advocacy
• Identify the best communication channels and messages for each generation to maximize recruitment impact and to increase volunteer engagement

Nonprofit executive directors, board members and development professionals are especially encouraged to attend!

Details and registration

Attracting Younger Workers to Public Service

The U.S. federal government is estimated to lose 600,000 of its aging workers to retirement and thousands more of its top mid-career performers to private sector jobs over the next 5 years. America needs a capable and sophisticated government, and its current system of recruiting, compensating, training and managing people is poorly aligned with the expectations of younger workers. To address the needs of a new workforce and upgrade its existing one, the government must:

• Create a simple, transparent process for applying for civil service jobs
  
• Develop onboarding programs for entry level and mid-career employees
• Revamp the classification and pay structure to compete with the private sector
• Invest in robust leadership development and succession planning programs
• Hire qualified human capital experts to champion 21^st century recruitment and talent management efforts

Without a systematic way of recruiting and keeping younger talent, the federal government will be unable to staff mission critical positions with qualified, competent personnel. While out of touch, it is not the only U.S. employer with antiquated human capital processes. Most private and nonprofit organizations report being ill-equipped to handle the upcoming demographic shifts in the labor market. How prepared are you?

Want more insight into managing the different generations in your workplace? Contact us at www.interchange-group.com or join us for our November 19 webinar, Generational Differences in Volunteerism.

Mapping China's Urban Middle Class

In early 2009, the number of Internet users in China passed 300 million. What's more, the number of Chinese blogs is estimated in the tens of millions. This makes the Chinese blogosphere the largest available source of information on the growing Chinese middle class. Our strategic partner and international think tank and consulting firm, Kairos Future, is starting an exciting project to map the Chinese middle class and the rapidly growing number of online Chinese.

Through a combination of nethnographic blog analysis and quantitative surveys Kairos Future will be able to break down China's urban middle class across different demographic groups and regions and analyze its views on a variety of issues, including work, consumption, family, housing, education, technology, and lifestyle. The results of this exclusive research will be critical for any company looking to understand where one of the most important consumer and talent markets in the world is heading. To become a corporate research partner with Kairos Future or for more information on this project and others, please contact a member of our Interchange Group team.

To register for this week's webinar, "Future Workforce: Millennials in a Global Context," featuring research from Kairos Future's Global Youth Study, click here.

Oct 22 Webinar: Future Workforce – Millennials in Global Context

Information about generational differences in America abounds, but today's talent marketplace is global. As our workforce ages, U.S. and multinational companies alike will be faced with the challenge of recruiting and retaining younger employees with very different attitudes toward work and life. Understanding how American Millennials (born 1981-2000) compare with their international peers will have a profound impact on the way employers plan for and manage their talent in the next decade.

Based on exclusive research in 17 countries from Kairos Future, this 1-hour webinar will present critical findings about American Millennials in a global context and offer workforce planning and talent management strategies to create a competitive advantage for the future. Learning outcomes include:

• Education and competence level comparisons of U.S. Millennials with their international counterparts
• Contrasts in career orientation and entrepreneurialism among young workers around the world
• National differences in attitudes toward job security and willingness to work abroad
• Strategic considerations for workforce planning professionals
• Talent management priorities to balance current economic realities with future labor needs

* This webinar is approved for 1 hour of PHR/SPHR strategic management recertification credit.

CLICK HERE TO REGISTER

America's Brain Drain

The U.S. awards over 50% of all engineering, mathematics, computer sciences, physics and economics doctorates to foreign students, according to the National Science Foundation. Many of these students have traditionally remained in the country upon graduation to pursue work and post-doctoral opportunities. However, new research out of Duke University shows that the number of foreign undergraduate and graduate students who intend to leave the U.S. within 5 years of graduation is growing. Restrictive immigration policies are only partly to blame. More common reasons for leaving include:

• Promising economic future of home country - 74% of Chinese and 86% of Indians say the best days for their home country’s economy lie ahead
• Better career prospects in home country - 87% of Chinese and 79% of Indians see a growing demand for their skills in their home country
• Proximity to family and friends - 77% of Chinese and 88% of Indians state a desire to be closer to family and friends

American employers and policy makers alike should be concerned. While immigrants represent only 12% of the U.S. population, they have started 52% of Silicon Valley’s technology companies and contributed to over 25% of America’s global patents. If reverse migration trends continue, it will signal America’s first brain drain of talented youth. To stay competitive, U.S. employers must develop new strategies for recruiting and retaining skilled foreign and domestic workers. The future of their businesses will depend on it.

For more information on this research and for insight into workforce planning and talent management solutions for a global workforce, join us for our October 22 online seminar, Future Workforce: Millennials in a Global Context."

Recession Sentiments Across the Generations

Since the recession began, we've been observing the impact (or lack thereof!) of the economy on the attitudes and behaviors of the different generations toward work and life. The results of a recent national survey by the Pew Research Center's Social & Demographic Trends provide the statistics behind these observations and offer employers valuable data on the financial wellbeing and motivations of their workforces:

• Traditionalists (age 65+) are most likely to report being very satisfied with their personal finances and least likely to say they will be adversely affected by the recession
• While Baby Boomers (ages 50-64) have the highest incomes of any generation they are the least likely to be satisfied with their quality of life
• An equal number of Generation Xers (ages 30-49) and Baby Boomers have suffered more than a 20% loss to their retirement accounts, but Generation Xers are more likely to believe their personal situation will improve by next year
• Although adult Millennials (ages 18-29) have faired worst in the job market, they are the most confident about their short and long term financial future

The findings above, while partially driven by the current recession, also reflect deep-set generational attitudes. Understanding these attitudes gives us critical insight into the professional motivations and decisions of our current and future employees. How much do you really know about each generation in your workforce? Isn't it time you found out?

Want more insight and tips for managing the different generations in your workplace? Contact us at www.interchange-group.com.

July 16 Webinar: Generational Differences in Volunteerism

On July 16, the Interchange Group will be hosting its popular online seminar, "Generational Differences in Volunteerism - Recruitment & Retention Strategies for Nonprofits." The 45-minute session is designed to equip nonprofit executives and boards with new insight and techniques for recruiting, retaining and engaging top quality board members and volunteers. Key learning includes:

• Tap into the unique values and motivations for volunteering that each generation possesses
• Optimize the skills, experience and resources of older generations to increase participation and effectiveness
• Harness the energy of younger generations and the power of social online networking in nonprofit fundraising and advocacy
• Identify the best communication channels and messages for each generation to maximize recruitment impact and to increase volunteer engagement

Nonprofit executive directors, board members and development professionals are especially encouraged to attend!

Details and registration

Boomers As Interns & Volunteers

Executive Internships. Returnships. Career Reengineering Programs. Call it what you like, we're seeing a growing trend in Baby Boomer internships and volunteer programs. Once reserved for students and entry-level job seekers, these programs are attracting the increasing supply of unemployed mid-career professionals. As the economy worsens, Baby Boomers are eyeing internship and volunteer opportunities as a way to learn new job skills that will keep them up to date with their profession and allow them to break into new careers. Employers in both public and private sectors are seeing the advantage of hiring skilled, mature interns and volunteers to meet their current needs and fill their future talent pipelines. Here are some examples of the growing number of programs specifically geared to Baby Boomers:

• AmeriCorps, thanks to the 2009 Serve America Act, now dedicates 10% of all new volunteer slots to people 55 and older.
• Civic Ventures, a think tank focused on Baby Boomers, spearheads a variety of cause-related career and volunteer programs for individuals 55 and older.
• Babyboomers.TV, a website start-up targeting Baby Boomers, hires mid-career interns, offering each a $100 weekly stipend.
• Investment bank Goldman Sachs provided a pilot internship program last year offering midcareer women a chance to return to the finance industry.

How will your organization be able to leverage the strengths and expertise of the Baby Boomer population? What opportunities exist to engage them as volunteers and interns?

Want more insight and tips for engaging volunteers in your organization? Register now for our July 16th online seminar, "Generational Differences in Volunteerism - Recruitment & Retention Strategies for Nonprofits".

India's Talent Shortage

India, with its growing economy and young workforce (the median age of India's 422 million workers is 25), is projected to become the world's third-largest economy by 2035. In point, 34 Indian companies were already listed in the Forbes Global 2000 ranking in 2008. However, India is facing a sizable shortage of talented workers that will threaten its own growth and the success of multinational companies reliant on young Indian talent. Here's why:

• India's literacy rate is less than 60% (the rate in the U.S. is 99% by comparison)
  
• Less than 12% of India's workforce has a college degree
• 50% of India's working women will opt out of the workforce by the age of 30
  
• Good benefits and high salaries rank as top priorities for young Indians, resulting in highly mercenary behavior toward employment opportunities

In recent years, employers in India have seen attrition rates as high as 70% in some industries. The situation poses a significant challenge to executives in India and abroad tasked with finding and keeping top global talent and magnifies the need for strategic workforce planning. Are you prepared?

For more information on this research and for insight into the recruitment and management challenges of a global workforce, join us for our May 28 online seminar, "Millennials in a Global Context: Workforce Planning for an International Talent Marketplace".

May 28 Seminar: Millennials in a Global Context

Information about generational differences in America abounds, but today's talent marketplace is global. As our workforce ages, U.S. and multinational companies alike will be faced with the challenge of recruiting and retaining younger employees with very different attitudes toward work and life. Understanding how American Millennials (born 1981-2000) compare with their international peers will have a profound impact on the way employers plan for and manage their talent in the next decade.

Based on exclusive research in 17 countries from Kairos Future, this 1-hour webinar will present critical findings about American Millennials in a global context and offer workforce planning and talent management strategies to create a competitive advantage for the future. Learning outcomes include:

• Education and competence level comparisons of U.S. Millennials with their international counterparts
  
• Contrasts in career orientation and entrepreneurialism among young workers around the world
  
• National differences in attitudes toward job security and willingness to work abroad
  
• Strategic considerations for workforce planning professionals
  
• Talent management priorities to balance current economic realities with future labor needs

* This webinar is approved for 1 hour of PHR/SPHR strategic management recertification credit.

Click here to register

Choosing Alternatives to Layoffs

This week I was featured in a Los Angeles Times article, Choosing Alternatives to Layoffs, for helping a client navigate alternatives to layoffs. In this particular situation my client, faced with the challenge of needing to cut expenses, chose to move the workforce to a 4-day work week. Despite the reduction in pay, employees overwhelmingly supported the decision. Morale has stayed positive, productivity has increased, and loyalty to the company is stronger than ever. The 4-day work week may not be right for every organization and circumstance, but it is worth considering. Other options to consider include:

• Temporary unpaid leave of absences - Encourage employees to take time off from work while maintaining their employment status
• Job sharing - Decrease immediate headcount by allowing 2 people to share 1 job and retain benefits
• Reduced hours & pay cuts in exchange for stock - Avoid layoffs and increase loyalty by trading a percentage of an employee's salary for company stock
• Telecommuting - Reduce overhead by eliminating the need for office space
  
• Layoffs with hire back bonuses - When layoffs are unavoidable, position yourself for a quick turnaround by offering hire-back bonuses to anyone willing to be rehired within an 18-24 month period

What innovative actions are you or your companies taking to avoid layoffs now and retain workers for the imminent labor shortage that is looming on the horizon?

Millennials in a Global Context

Information about generational differences in America abounds, but today’s talent marketplace is global. To provide this critical perspective, the Interchange Group has partnered with Kairos Future, an international think tank and consulting firm dedicated to research on emerging workforce and consumer trends around the world. In their Global Youth study, Kairos explores national differences in generational attitudes toward employment across 17 countries. Their findings about American Millennials (born 1981-2000) in a global context have significant implications for U.S. and multinational companies alike.

• Education: American Millennials place a lower value on having a university degree than young people in China, Russian, Taiwan and Poland.
• Entrepreneurialism: American youth rank below Chinese, Russian, Polish, Estonian, Indian, Spanish, Swedish and Taiwanese youth in their interest in starting a company in the next 15 years.
• Job Security: Employment security is among the 3 highest career priorities for young Americans and Europeans, but not for young Russians, Chinese and Indians, who place a higher value on good career opportunities.
• Career Orientation: Childcare, healthcare, and education are among the 4 most popular industries for Millennials in the U.S. - Nowhere else except in France is this the case.
• Willingness to Work Abroad: 21% of American youth state that they would like to live abroad for a period of time, compared with 53% of Chinese, 44% of Indians and 32% of Swedes.
  

Comparisons of American Millennials to their international peers will have a profound impact on the way employers plan for and manage their talent in the next decade. How prepared is your organization for this shift?

For more information on this research and for insight into recruiting and managing the different generations in your workplace, contact us at www.interchange-group.com.

April 24 Webinar: Generational Differences in Volunteerism

Many nonprofits have seen their volunteer and charitable giving rates decrease in recent times. The current economic crisis only magnifies the impact of this trend. The shortage of support, however, is not due to a lack of money, energy, or passion. Rather, it stems from fundamental differences in the way that each generation sees the role of nonprofits in society. To sustain and thrive nonprofit organizations must understand and capitalize on the unique skills and motivations of each generation. The future of their programs and services will depend on it.

In honor of National Volunteer Week (April 19-25) the Interchange Group is hosting its popular webinar, "Generational Differences in Volunteerism - Recruitment & Retention Strategies for Nonprofits." The 45-minute session is designed to equip nonprofit executives and boards with new insight and techniques for recruiting, retaining and engaging top quality board members and volunteers. Key learning includes:

• Tap into the unique values and motivations for volunteering that each generation possesses
• Optimize the skills, experience and resources of older generations to increase participation and effectiveness
• Harness the energy of younger generations and the power of social online networking in nonprofit fundraising and advocacy
• Identify the best communication channels and messages for each generation to maximize recruitment impact and to increase volunteer engagement
  
  Details and registration

Traditionalists Return To Work (Originally published February 2009)

Decreased retirement portfolios and increased longevity are bringing Traditionalists (born ca. 1925-1943) out of retirement. Recent Bureau of Labor statistics indicate a dramatic spike among job seekers over 75 years. Traditionalists are looking for jobs that satisfy their financial, health and social needs. Part time work, accommodations for physical disabilities and access to healthcare are priorities. In many cases, Traditionalists will compete against younger candidates who may appear more flexible in their employment needs. As a result, employers will need to be extra mindful of actions that could be perceived as age discrimination. Consider the following:

• Do your job descriptions clearly outline the activities and qualifications required?
• Will you need to provide training on technology or other skills for older candidates to succeed?
• How will you handle situations in which older applicants appear overqualified? Have your recruiters and hiring managers received age discrimination training?
• Are you equipped to handle requests for Americans with Disabilities Act workplace accommodations?
• Do your supervisors have the skills to manage intergenerational teams?

In the coming decade the percentage of older workers will rise as the U.S. population ages. How employers manage the needs and priorities of Traditionalists will be a good indication of future workforce challenges and opportunities. Are you ready?

Want more insight and tips for managing the different generations in your workplace? Contact us at www.interchange-group.com.

Generational Differences in Volunteerism (Originally published November 2008)

The 2008 U.S. presidential campaigns demonstrated that volunteerism and charitable giving are alive and well in America. So why are so many nonprofits seeing their volunteer rates and fundraising decrease? Generational shifts in values and attitudes toward the role of nonprofit organizations give us a clue:

• Traditionalists grew up in the wake of the Great Depression, leaving them with a sense of duty to give back to society and make a lasting contribution.
• Baby Boomers came of age during the political upheaval of the 1960's and 1970's and believe in the power of advocacy to impact social change.
• Generation Xers witnessed the decrease in government funding for social needs during the 1980's and emerged as independent minded social entrepreneurs.
• Millennials are used to team-based learning and volunteer requirements at school and are looking to grassroots activism to solve the world's problems as they mature.

The shortage of volunteer leaders that many nonprofits and their boards bemoan is not due to lack of interest, but due to fundamental differences in the way each generation sees the role of the nonprofit in society. To bridge the divide nonprofits will need to recognize and capitalize on the unique skills and motivations of each generation. The future of the nonprofit world depends on it.

For details on any of these solutions or insight into managing the different generations contact us at www.interchange-group.com.

Alternatives to Layoffs (Originally published October 2008)

The economic crisis is causing many organizations to consider reductions in force as necessary cost cutting measures. Mounting research shows that companies that terminate a significant portion of their workforce fail to outperform their competition. Most often, the long-term costs of layoffs outweigh any initial savings. What's more, layoffs increase an enterprise's vulnerability to lawsuits, acts of retribution, and drops in productivity and morale.

But a bigger problem is looming on the horizon. Layoffs will cut off talent pipelines during a time when employers face unprecedented demographic shifts in the labor market. Drops in 401K values will only stave off the retirement of Baby Boomers temporarily. When they do begin to exit organizations the subsequent labor shortage will result in a talent vacuum. Reductions in force now will put organizations at a serious disadvantage in retaining top talent and transferring knowledge in the future. Many companies will never recover. To weather the storm, consider the following alternatives to layoffs:

• Temporary unpaid leave of absences - Encourage employees to take time off from work while maintaining their employment status
• Job sharing - Decrease immediate headcount by allowing 2 people to share 1 job and retain benefits
• Reduced hours & pay cuts in exchange for stock - Avoid layoffs and increase loyalty by trading a percentage of an employee's salary for company stock
• Telecommuting - Reduce overhead by eliminating the need for office space
  
• Layoffs with hire back bonuses - When layoffs are unavoidable, position yourself for a quick turnaround by offering hire-back bonuses to anyone willing to be rehired within an 18-24 month period

For details on any of these solutions or insight into managing the different generations in your workplace contact us at www.interchange-group.com.

Millennials & the 2008 Election (Originally published September 2008)

Please join us in welcoming Morley Winograd and Michael D. Hais, co-authors of Millennial Makeover: My Space, You Tube and the Future of American Politics as guest editors of this months Generational Interchanges edition!

Since the establishment of the U.S. two-party system, American politics have been characterized by a persistent pattern of stable electoral results lasting about 40 years interspersed with realignments or makeovers that turn things upside down. Two underlying forces produce all realignments: the coming-of-age of a sizable dynamic generation of young Americans and a major advance in communication technology. While the Baby Boomers (born 1944-1962) and their love of television produced America's last political makeover in 1968, this year's election will result in a realignment driven by the political emergence of America's largest generation, the Millennials (born after 1981), and their internet-based social networking technologies.

Almost 40 million Millennials will be eligible to vote in November. They currently favor Obama by about a 2:1 margin according to recent national surveys conducted by Research 2000 and the Pew Research Center. The majority of Millennials identify as Democrats because, on the whole, they favor policies associated with that party, such as efforts to reduce economic inequality and tolerance on social issues. But McCain's emphasis on national security could sway their vote since Millennials are also concerned about this issue. Should Millennial support for Obama hold until Election Day, the generation's size would provide him with more than an eight million vote margin among young voters, a pickup of more than six million votes over the level of support John Kerry received in 2004 from this same age group.

Just as Millennials in the workplace will completely transform how our private sector institutions are managed in the years to come, Millennials in the electorate will completely transform how our government is run, and by whom, in this year's election and for 40 more years thereafter.

Note: The above transmission is not a political endorsement of any kind nor it is intended to represent the political beliefs or affiliations of any representatives of the Interchange Group or its partners.

Dead is the New 80 (Originally published August 2008)

Baby Boomers, known for their professional identity and optimism, are poised to redefine retirement and aging just as they have redefined every other phase of their lives. A 2006 Merrill Lynch study found that 71% of all employees, regardless of age, intend to spend at least part of their retirement years working. Of those who intend to continue to work part-time after retirement, 45% say they never plan to stop working completely. Boomers expect to stay youthful and employed into their 60s, 70s and 80s, but eventually they, too, will grow old and face the realities of aging that are posing new challenges for employers. Consider the following:

• Aging affects the energy and mental clarity of older workers and can place employers in awkward positions when managing performance.
• Since many organizations do not offer age discrimination training, employers will likely face an increase in age related litigation among the sizable Boomer generation.
• According to the U.S. Census Bureau, over 40% of Americans over 65 have some sort of disability, compared with only 12% of those between 16-63. Many employers will see a surge in disability claims as a result of their much-needed aging workforce.
• Employers will need to make more Americans with Disabilities Act (ADA) accommodations as Boomers age, including amplified audio-visual equipment and desks that accommodate wheelchairs.

Aware of the pending labor shortage caused by the population decrease after Boomers, employers recognize the need to attract and retain older workers. However, the vast majority is not prepared for the challenges that will come with their aging workforce. How ready are you???

Want more insight and tips for managing the different generations in your workplace? Contact us at www.interchange-group.com.

Law Firms & the Generational Divide (Originally published July 2008)

Changes within the legal profession over the last 20 years are now posing challenges for law firms wishing to recruit and retain younger associates. While older attorneys continue to work long hours and drive business, high billable hour expectations and associate-to-partner ratios are causing younger attorneys to question the system. Compounding the problem are demographic shifts that will challenge the profitability and very sustainability of many firms in the near future. Considering the following:

• Traditionalists and Baby Boomers, representing close to 50% of attorneys in the US, will begin to retire or change careers in record numbers over the next decade
• The pending shortage of Generation X lawyers, a small cohort almost half the size of the Boomers, will cause significant setbacks to firms' succession plans
• The latest generation to enter the legal profession, the Millennials, have already begun to challenge the "workaholic" legal culture by publicly ranking firms on the internet according to diversity, billable hour and pro bono participation metrics

The challenge to law firms will be to develop strategies to recruit, motivate and retain attorneys while remaining profitable. Firms that proactively navigate the generational divide today by considering the needs of a multigenerational workplace will not only achieve an overwhelming competitive advantage in the future. They will still be around to enjoy their success.

Want insight and tips for managing the different generations in your workplace? Contact us at www.interchange-group.com.

Tomorrow's Nonprofit Leaders (Originally published June 2008)

A recent study produced by CompassPoint Nonprofit Services, The Annie E. Casey Foundation, The Meyer Foundation and Idealist.org found that over the next decade, nonprofits will face significant obstacles to recruiting new leaders to replace retiring Baby Boomers. Among the survey's key findings include the reality that younger generations:

• View the work associated with executive nonprofit leadership as unappealing due to overwhelming fundraising responsibilities and compromised personal lives.
• Have major concerns about nonprofit salaries and lifelong earning potential.
• Receive inadequate mentorship and career grooming from the generations above them.
• Feel alienated and underutilized by top down decision making and rigid organizational structures of nonprofit organizations.
• Do not believe that a career in the nonprofit sector is essential to making a difference and impacting social change.

A full report of the survey is available for download at http://www.meyerfoundation.org. For additional free resources on navigating the generation divide, log on to http://www.interchange-group.com.

Science & Engineering - The Canary in the Coal Mine (Originally published April 2008)

More and more industries are facing the reality of an aging workforce. Whether older workers retire gradually or in droves, one thing is for certain: There will NOT be a 1:1 replacement ratio of talent. In the next decade the shortage of skilled workers available in the U.S. will reach new heights. One of the first sectors to feel the impact of these demographic shifts is Science and Engineering. What unfolds in this arena will likely foreshadow the labor market at large, and challenge the very viability of some businesses.

• 26% of all Science and Engineering degrees holders are over 50
• 40% of Science and Engineering doctorate degree holders are over 50
• 27% of Engineers in the Aerospace and Defense industries are eligible for retirement this year
• Enrollment in U.S. graduate Computer Science and Engineering programs is decreasing while the global market for talent in these fields is increasing
• Among the dwindling numbers of graduates from American universities, an increasing number of foreign born Science and Engineering students are leaving the U.S. upon graduation due to a lack of available H1-B visas

Science and Engineering industries will have to face this challenge. What trends do you see in your own organization? What steps do you need to take to ensure its future?

Want more insight and tips for managing the different generations in your workplace? Contact us at www.interchange-group.com.

Developing Leaders of the Future (Originally published February 2008)

As Baby Boomers (born 1944-1962) move closer to retirement, many organizations are struggling to fill their shoes. The small cohort of Generation Xers (born 1963-1981) following them may not be enough to carry the burden. Companies need to look to both Gen Xers and their younger colleagues, the Millennials (born 1982-2000), to develop as future leaders. With their free agent mindsets, upcoming generations need to know that they are being groomed for opportunities. Here are some key strategies to accelerate their development and ensure retention:

• Provide accessible internal and external training opportunities, with tuition reimbursement whenever possible
• Ensure trainers use experiential learning techniques and technology based support that reflect the values and learning styles of the younger generations
• Avoid poor quality photocopies and outdated PowerPoint presentations that turn off Gen Xers and Millennials to conventional training
• Create online communities of practice and wikis that all employees can participate in anytime, anywhere
• Restructure traditional mentoring and coaching programs to meet the changing needs and expectations of younger workers

Want more insight and tips for managing the different generations in your workplace? Contact us at www.interchange-group.com.

National Differences In Millennial Tech Use (Originally published December 2007)

A recent MTV study of 18,000 youth from 16 countries offers key insights into how the U.S. Millennial generation (born after 1981) and their peers elsewhere use technology. The results reveal surprising national differences in media behavior and attitudes even across bordering countries. These findings challenge how employers use communication technology to recruit and engage young people around the world.

• In Asia, Chinese youth have the lowest mobile phone usage of any nation surveyed, but rely heavily on the Internet to develop online social networks, communicate virtually and share content.
• Neighboring Japanese youth socialize away from the home and depend on mobile phones, not computers, to stay in touch with peers.
• In Europe, young Germans use the web the least of all countries studied, with only 25% saying they love the Internet.
• Next door, young Dutch are 3 times more likely than their German counterparts to view the Internet favorably.
• In the Americas, Brazilian youth claim the most online friends in the world (46 compared with the global average of 20).
• Video games play a substantial role with U.S. teens, one third of who say they can't live without their game consoles.

Want more insight and tips for managing the different generations in your workplace? Contact us at www.interchange-group.com.

What Gen X Men Want (Originally published August 2007)

Men in Generation X (born 1963-1981) with children spend as much as one hour more per day with their kids than Baby Boomer men (born 1944-1962) did at their age. When surveyed, 71% of men across all generations say they would take a pay cut to have more free time. 66% would consider looking elsewhere for positions that provided more flexibility. Gen X men are especially likely to want more work-life balance but worry that talking about it will jeopardize their careers. They may opt to find another job with established programs to balance work and other commitments rather than negotiate with their current employer.

The desire for flexibility doesn’t mean Gen X men want to give up their careers. Most are just looking for jobs that let them develop as professionals while having personal time outside of work. Here are some strategies to engage them in a competitive labor market.

• Ensure job descriptions are achievable and not overloading any one position
• Reward for results and productivity, not face-time and hours spent in the office Focus on team-driven approaches to work that create 24/7 service without compromising individual needs to refuel
• Use language that values efforts to find balance rather than stigmatizing it
  
• Provide opportunities for all employees to balance work with other activities as appropriate through telecommuting, flextime, and other programs

Want more insight and tips for managing the different generations in your workplace? Contact us at www.interchange-group.com.

Millennials In Asia (Originally published July 2007)

U.S. Millennials (born after 1981) entering the workforce are profoundly challenging the way employers communicate, manage and organize resources. A resulting paradigm shift within American and multinational organizations is almost certain. Understanding young people in other parts of the world helps us to see how they also impact the shift. Here are some interesting facts about 18-25 year-olds in Asia:

• A Business Week survey of students at China’s top MBA programs revealed an unprecedented drive for managerial excellence, Chinese style. Over 25% plan to start businesses in the next five years and the majority intends to pursue careers in China instead of the previously coveted U.S.
• SHRM reports that the median age of India’s workforce is 25. Fewer than 12% have college degrees. With employee attrition as high as 70% in some industries, entry-level workers are successfully commanding high salaries and responsibilities seemingly disproportionate to their skill sets
• The Bank of Japan Review reports that excess employment by older Japanese workers has caused a high rate of unemployment and part-time employment among younger workers. Without full-time job opportunities right out of school, a growing percentage of Japan’s youth are being displaced from the traditional career systems found in most Japanese organizations and may never catch up.

Want more insight and tips for managing the different generations in your workplace? Contact us at www.interchange-group.com.

Millennials & Compensation (Originally published May 2007)

Millennials (born approx. 1981-2000) are coming into the workforce with high salary aspirations. Once on the job, their expectations of rapid promotion and pay increases confound employers who expect a certain level of performance and service to justify a raise. One compensation innovation used in manufacturing environments today is skill-based pay, which compensates employees for skills, not job titles, and ties salary increases to the acquisition of new, relevant skills. Skill-based pay, also known as knowledge-based pay, lends itself well to the Millennial mindset. Here’s why:

• It validates Millennials for their existing aptitude and ensures they’ll receive financial recognition for mastery of new skills
• It empowers Millennials to take control of their professional development through targeted goal setting
• It’s a symbolic departure from the traditional “pay-your-dues” approach, a model Millennials bristle at
• It places the emphasis on training, a value Millennials hold dear

Want more tips for managing the different generations in your workplace? Contact us at www.interchange-group.com. We look forward to hearing from you!

Telecommuting Across the Generations (originally published April 2007)

Telecommuting is an effective recruitment and retention tool as demands for flexible work arrangements increase. The key to a successful telecommuting program is to keep everyone connected, since out-of-sight easily means out-of-mind. Employees from all generations are interested in telecommuting but for different reasons. Understanding these motivations is critical to developing the program that is right for your organization.

• Traditionalists see telecommuting as a way to stay connected to their profession on a part-time work schedule
• Baby Boomers perceive telecommuting to be a method for mitigating burnout and recalibrating their careers
• Gen Xers want opportunities to telecommute in an effort to balance work and family
• Millennials view telecommuting as a means to manage their multiple professional and extracurricular commitments

Want more tips for managing the different generations in your workplace? Contact us at www.interchange-group.com. We look forward to hearing from you!

Information Security Across the Generations (originally published February 2007)

Generation X paved the way with Napster. Their younger cohorts, the Millennials, have fully embraced sites like YouTube and MySpace to share information freely. Compare this with older generations’ attitudes toward proprietary information and you have a costly culture clash. Personal electronic devices are everywhere - cell phones, Blackberries and iPods are only the beginning - and how your employees use them and view intellectual property will have drastic consequences for your business.

Many organizations are updating their information security policies and procedures taking the differences in generational attitudes and practices into account. Here are a few suggestions to help you follow in their path:

• Conduct a 3rd party assessment of the technological and physical security of your organization’s proprietary information
• Create policies and train employees on the sharing and downloading of company information
• Provide training on appropriate Internet, email, instant messaging, and camera phone use on site and off
• Educate employees on the appropriate use of social networking websites for personal and business purposes

Want more insight and tips for managing the different generations in your workplace? Contact us at www.interchange-group.com.

Retaining Trusted Traditionalists (originally published November 2006)

Loyal, hardworking and faithful to institutions, Traditionalists (born c. 1925-1945) are a vital resource for any organization. As evidenced by the demand for this generation’s knowledge and expertise during Y2K, many employers can’t afford to lose them just yet. That’s a good thing, since Traditionalists are willing to work past retirement if offered flexible schedules or project based employment.

Successful companies are finding innovative ways to retain and leverage older workers while planning longer-term succession strategies. Here is how you can get started.

• Pair Traditionalist mentors with younger workers to transfer knowledge to the next generation
• Create alternative retirement programs that allow Traditionalists part-time work
• Train Traditionalists on new technology to update their skill sets
• Include Traditionalist perspectives in your strategic planning by placing them in advisory roles or on advisory boards
• Implement an intranet resource (a “Wikipedia” for your company) where Traditionalists can document knowledge and expertise

Want more insight and tips for managing the different generations in your workplace? Contact us at www.interchange-group.com.

Engaging Baby Boomers (originally published August 2006)

As the first Baby Boomers approach traditional retirement age, employers fear a significant loss of talent and productivity. However, a drive for professional recognition, the desire for an active lifestyle, and in many cases insufficient retirement savings will prompt many Boomers to keep working. That doesn’t mean they’ll remain in the same organization or capacity. Instead, Boomers will seek opportunities to work less and in different roles that provide more meaning to them as their motivations change.

How can you retain the knowledge and expertise of Boomers while keeping them engaged? Here are some solutions:

• Create alternative work models that include flexible schedules, telecommuting, and sabbaticals.
• Involve Boomers in developing programs to transfer knowledge to younger generations.
• Help Boomers draft career plans that marry their needs with your company’s.
• Offer financial planning services as part of your benefits package.
• Provide training to update Boomer skill sets and keep them competitive.
  

Want more insight and tips for managing the different generations in your workplace? Contact us at www.interchange-group.com.

Generation X & Work Life Balance (originally published August 2006)

Work-Life balance is a high priority for Generation Xers (born 1962-1981). These “latchkey kids” felt the brunt of tripled divorce rates and late-working, dual-income parents. As a result, Gen Xers make different career choices to balance work and life. Many choose jobs closer to home over promotions. Others opt out of the workforce altogether to care for young children or freelance.

What does this mean for employers relying on Gen Xers to take over from retiring Baby Boomers? How will companies keep this generation motivated and loyal? Traditional succession plans, incentive strategies and promotional tracks won’t work. Organizations thinking differently about recruiting and retaining this cohort can gain a competitive advantage. Here are some quick tips:

Help Gen Xers balance work and life commitments!

• Offer telecommuting and flexible work schedules
• Utilize comp days as incentives for productivity
• Reward for results, not hours spent in the office
• Provide time-saving “maintenance” services (e.g. house cleaning, dog-walkers, car washes)
• Highlight work-life balance success stories in your company’s newsletter

Want more insight and tips for managing the different generations in your workplace? Contact us at www.interchange-group.com.

Millennials & Volunteerism (originally published July 2006)

Volunteer work among the Millennial generation (born 1982-2003) is at an all time high of 83%. Combine this with their unprecedented ability to organize collectively using technology (think MySpace.com meets the Red Cross) and you have a force of 75 million activists changing the face of charitable contribution.

But what does this mean for employers as Millennials enter the US labor market? Companies relying on recent college graduates are looking for an answer. Many have experienced costly employee attrition by not addressing this generation’s drive to both make a difference and find meaning in their work. A handful of organizations know how to hold on to these workers and create a competitive advantage in the process. Want to know their secret?

Get creative with your organization’s volunteer opportunities!

• Offer employees opportunities to donate pretax dollars to charities of their choice
• Highlight community involvement in your company newsletter
• Provide occasions for hands-on volunteerism during work hours
• Organize employee teams to collectively volunteer
• Match off-work employee volunteer hours with paid time off

Want more insight and tips for managing the different generations in your workplace? Contact us at www.interchange-group.com.

Welcome

Welcome to Generational Interchanges, a resource for research and bite-size bits of useful information and tips on working with different generations in organizations.

To get readers up to speed on my work, I'll be posting past editions of Generational Interchanges that were originally published in the Interchange Group's online newsletter. Enjoy!