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This document provides information on engaging and retaining different generations in the workforce. It begins with a quote highlighting that each new generation is viewed as disrespectful by their elders. It then provides details on the generations currently in the workforce - Baby Boomers, Generation X, and Millennials - including their defining experiences and what motivates each group. The document also presents two case studies that demonstrate how companies improved retention by listening to employees, investing in their development, and recognizing good performance. It concludes with an action plan emphasizing the importance of listening to feedback, ongoing training, and meaningful recognition programs.
Mats presentation slides master
- 1. & Booth # 74102 Stop by for a demo!
- 4. 1. Workplace Trends 2. Case Studies 3. Action Plan
- 6. Generation Bias “Our youth now love luxury. They have bad manners, contempt for authority; They show disrespect for their elders and love chatter in place of exercise; they no longer rise when elders enter the room; they contradict their parents, chatter before company; gobble up their food and tyrannize their teachers.”
- 7. Generation Bias “Our youth now love luxury. They have bad manners, contempt for authority; They show disrespect for their elders and love chatter in place of exercise; they no longer rise when elders enter the room; they contradict their parents, chatter before company; gobble up their food and tyrannize their teachers.” Socrates 470 BC – 399 BC
- 9. Who Are They?Boomers • Born ‘46-64 • 51-69 yrs old • Vietnam • Civil & Women’s Rights • Moon landing • Personal Computer GenerationX • Born ‘65-80 • 35-50 yrs old • Cold War • Fall of Berlin Wall • Internet • Mobile Phone Millenials • Born ‘81-’97 • 18-34 yrs old • 9/11 • Social Everything • Google • iPod • On Demand
- 10. Who Are They?Boomers • Born ‘46-64 • 51-69 yrs old • Vietnam • Civil & Women’s Rights • Moon landing • Personal Computer GenerationX • Born ‘65-80 • 35-50 yrs old • Cold War • Fall of Berlin Wall • Internet • Mobile Phone Millenials • Born ‘81-’97 • 18-34 yrs old • 9/11 • Social Everything • Google • iPod • On Demand
- 11. Who Are They?Boomers • Born ‘46-64 • 51-69 yrs old • Vietnam • Civil & Women’s Rights • Moon landing • Personal Computer GenerationX • Born ‘65-80 • 35-50 yrs old • Cold War • Fall of Berlin Wall • Internet • Mobile Phone Millenials • Born ‘81-’97 • 18-34 yrs old • 9/11 • Social Everything • Google • iPod • On Demand
- 13. What Motivates Them?Boomers • 51-69 yrs old • Job Security • Loyal to employers • Money/Title Recognition GenerationX • 35-50 yrs old • Work/Life Balance • Loyal to careers • Autonomy Millenials • 18-34 yrs old • Freedom & Flexibility • Work “with” companies, not “for” • Immediate feedback and recognition
- 14. What Motivates Them?Boomers • 51-69 yrs old • Job Security • Loyal to employers • Money/Title Recognition GenerationX • 35-50 yrs old • Work/Life Balance • Loyal to careers • Autonomy Millenials • 18-34 yrs old • Freedom & Flexibility • Work “with” companies, not “for” • Immediate feedback and recognition
- 15. What Motivates Them?Boomers • 51-69 yrs old • Job Security • Loyal to employers • Money/Title Recognition GenerationX • 35-50 yrs old • Work/Life Balance • Loyal to careers • Autonomy Millenials • 18-34 yrs old • Freedom & Flexibility • Work “with” companies, not “for” • Immediate feedback and recognition
- 16. Who cares? • 2015: Millenials become the largest population in the workforce (¾ by 2025) Source: US Census Bureau, 2014
- 17. 2015 Workplace Trends • 2/3 of US workers feel disengaged at work Source: Gallup Poll, 2015
- 18. Most Popular Job Source: NPR – Planet Money, 2014
- 19. Top 10 Unhappiest Jobs #4 Dispatcher #9 Truck Driver Source: Forbes, 2015
- 20. The Most Effective Way to Reduce Turnover & Retain Top Performers Create a Culture They Cannot Imagine Leaving! 80%Will Stay the Course When Consistently Recognized and Rewarded 55% Would Walk To join a company that has a formal recognition and rewards program G Source: Globoforce, 2013 What can we do?
- 21. Impact of Effective Recognition When companies spend 1% or more of payroll on recognition, 85% see a positive impact on engagement. Source: SHRM Survey, 2012
- 22. Case Studies
- 23. Case Study 1: Mortgage Lender Source: Incentive Magazine, 2014
- 24. Case Study 1: Situation • 200 Remote and On-Site Workers • Rarely Met Face-to-Face • No Real Communication • 30-40% Turnover
- 25. Case Study 1: Tactics 1. Connect the Remote Workforce – Weekly Huddle Meetings 2. Get Employees Invested – Hired Based on Fit 3. Recognize Great Performance in a Non- Traditional Workplace – Launched an Online Employee Recognition Program
- 26. Case Study 1: Results • 90% Retention Rate – Industry Turnover Rate of 40% • Decreased Recruiting Costs Substantially – Employees Stay – Employees Recruit for Them
- 27. Case Study 2: Call Center Source: Technology Marketing Corporation, 2010
- 28. Case Study 1: Situation • 1500 Seat Call Center • Over 200% Turnover • Job is Boring, Stressful • Management Invested in Higher Pay, Better Workstations, Better Benefits – No Improvement
- 29. Case Study 1: Tactics 1. Find the Attack Zone – Month 3: Over 50% Turnover 2. Focus on Why Employees Stayed – Co-Worker Bonds 3. Reinforce Positive Employee Behavior – Launched an Online Employee Recognition Program – Rewarded Anniversaries, Acts of Kindness, Strengthened Employee Bonds
- 30. Case Study 2: Results • 200% Turnover Down by 133% and Falling • 82% of Employees Believed Company Committed to Recognizing Employee Accomplishments
- 31. “Treat employees like they make a difference, and they will.” -Jim Goodnight, CEO, SAS
- 32. (1) Listen (2) Invest (3)Recognize
- 33. STEP 1 Listen
- 34. “I came away from this experience with a deeper understanding of the challenges faced by our front-line employees.” - Denny Slagle, President & CEO, Mack Trucks (2011) (1) Listen (2) Invest (3) Recognize Source: 2011 - www.successfuldealer.com
- 35. “Open-Door” Policy "Top Fleet Employers have accessible, available senior management teams and “open-door” polices that make it easy for drivers, owner-operators and non-drivers to make suggestions, offer ideas and raise any concerns.“ Source: Trucking HR Canada, 2014 (1) Listen (2) Invest (3) Recognize
- 36. Source: Lireo, 2014 (1) Listen (2) Invest (3) Recognize
- 37. Source: Office Vibe, 2015 Regular Employee Feedback = Lower Turnover HOW TO IMPROVE (1) Listen (2) Invest (3) Recognize
- 38. 3 A’s of Employee Surveys 1. Annual • E.g. Speedometer Source: Forbes, 2012 2. Accountable • Encourage Improvement 3. Action • Do Something with the Data (1) Listen (2) Invest (3) Recognize
- 39. STEP 2 Invest
- 40. Recruiting Musts 2) Hire Based on Fit1) Use Social Media Source: OC Tanner, 2014 Source: ICIMS, 2014 (1) Listen (2) Invest (3) Recognize
- 41. Training (1) Listen (2) Invest (3) Recognize
- 42. Source: Office Vibe, 2015 Training = Better Performance HOW TO IMPROVE (1) Listen (2) Invest (3) Recognize
- 43. (1) Listen (2) Invest (3) Recognize
- 44. Core Value Alignment = Bottom Line Profits HOW TO IMPROVE Source: Office Vibe, 2015 (1) Listen (2) Invest (3) Recognize
- 45. STEP 3 Recognize
- 46. Source: Forbes, 2012 (1) Listen (2) Invest (3) Recognize How Recognition Works Maslow’s Hierarchy of Needs
- 47. “Peer-to-Peer” is a Must-Have Source: Office Vibe, 2014 (1) Listen (2) Invest (3) Recognize
- 48. Source: Office Vibe, 2015 HOW TO IMPROVE Recognition = Motivation (1) Listen (2) Invest (3) Recognize
- 49. Meaningful Rewards Source: 3cheers.com, 2014 (1) Listen (2) Invest (3) Recognize
- 50. Source: Lifehacker, 2014 (1) Listen (2) Invest (3) Recognize
- 51. Action Plan Summary 1) Listen • Open-Door Policy • Conduct Regular Surveys • Measure and Improve upon Feedback/Results 2) Invest • Recruiting: Social Media & Hire Based on Fit • Implement Ongoing Training • Positive Company Culture & Core Value Alignment 3) Recognize • Diversify Recognition (Peer-to-Peer) • Establish Motivating Reward Options • Frequently Recognize and Reward