managing in the post covid plague years

• who will you work with? who will you manage?

  • boomers --> generally born 1946 through 1964
  • gen x --> born roughly 1965 to 1976
  • millennials - gen y --> born 1977 to 1994
  • gen z --> born 1995 to 2010
• boomers - advantages vs. disadvantages

  • strengths:
  • usually okay w/ a long work week; overtime
  • committed to their role than any other generation (?)
  • considered team players
  • regarded as excellent mentors and teachers to younger colleagues
  • downside:
  • a strong preference for structure and discipline
  • can be less inclined to quickly welcome change
  • can be competitive - need rewards for motivation
  • usually the least tech savvy - can slow development
• gen x - strengths vs. weaknesses

  • strengths
  • 70% of organizations are convinced gen x are the overall best workers
  • more productive, fast learners, adaptive
  • considered "professional" - more adept at finding their right balance btwn work and non-work life
  • considered to be the biggest revenue generators in business
  • weaknesses
  • not satisfied w/ their company's management talent
  • typically not vocal complainers - they tend to say very little in disagreement, esp compared w/ successive generations
  • not so oriented toward a "perfect project" - not really happy w/ overtime
  • get things done fast
• millennials - gen y: strengths vs. weakness

  • strengths
  • generally considered the most independent workers in the workplace today
  • millennials show true concern for ethics and for social responsibility from their companies/employers
  • millennials have grown up sourcing data and information
  • they need to be left (to a degree) to create their own processes rather than being told "EXACTLY" what to do
• millennials - gen y: strengths vs. weakness (cont.)

  • weaknesses
  • bc they are more independent, tend to value teamwork less
  • do not have quite as strong a work ethic
  • like working 38 hr work-week
  • impatient for career advancement
  • if they feel no development of their skills, they are likely to move on to another company/employer in 2 yrs or less (49%)
• gen z - strength vs weakness

  • strengths
  • most tech savvy
  • pick up new development quickly
  • very ambitious: 66% say they want to make the "TOP" of their profession
  • natural entrepreneurs: 72% say they want to start their own business
  • hire people, chart their own future
  • described as the "always on" generation
  • better at multi-tasking
  • weaknesses
  • regarded as the most cynical of the current generations
  • favor realism vs idealism
  • heavily reliant on easily accessible tech; esp for problem solving
• usefulness in management

  • each generation brings its own singular talent, unique ability
  • having some knowledge of these traits allows for focused training
  • allows aligning w/ their specialized talents
  • helps you look at your team and identify skills gaps (for hiring or training)
• millennials time is now

  • not a new concept
  • companies and managers need to be adapting now
  • millennials are becoming the largest percent of the work force in the US
  • taking more and more leadership roles
  • 27% are managers now; 5 % are senior managers, 2% are executives
  • in less than 10 yrs, half will manage
• job hopping

  • once considered a big negative
  • today, on average a millennial stays 2 yrs
  • employees are more likely to stay longer if surrounded by like minded people
  • offer millennials more autonomy and flexibility when possible
  • companies who embrace the millennial culture show greater agility - pivoting - and a 7x growth in innovation
• freelancing

  • 34% of the US work force freelances
  • that's over 53 million people
  • hiring freelancers provides: flexibility, less costs*, access to special skills
  • freelancers: more at risk during covid for lay-offs, less benefits
  • but... can also easily be re-hired
• annual performance reviews

  • 95% of workers don't like annual reviews
  • they'd rather have continuous feedback
  • but 65% of workers say they want more feedback from their bosses
  • tools exist for weekly or bi-weekly updates on progress
  • maybe the yearly review needs to go away?
• goal alignment: more emphasis

  • a growth in objectives and key results (called OKR)
  • seems to align well w/ both personal goals and employer objectives
  • helps keep track of progress on team, company, and personal goals
  • google and linkedin already doing it
• leadership: clear and opaque

  • the new most valued leadership trait:
  • honesty
  • 52% of gen y and gen z say the most important trait from their boss is: honesty
  • scenarios:
  • whole foods implemented an open salary system
  • you can blog on you own progress, problem resolution, goals
  • the whole-team can see your plan
• happiness in the workforce

  • about half of all americans are not engaged in their work
  • almost 20% are "actively disengaged"
  • cost the US about $550 billion in lost production
  • tools exist, such as WeekDone, to measure "happiness" ratings using a 1 to 5 star scale
  • keep an eye on morale, satisfaction and "weekly happiness"