Working As One Bridging and Minding Generational Gaps

Working As One: Bridging and Minding Generational Gaps TAHFM Presented By Amelie Karam April 2, 2019

“In the next five to 15 years, 50% of the current facilities management workforce could retire. ” *IFMA Foundation

The Generations Defined Generation Z Born: 1997 and later Age in 2019: up to 22 Millennial Generation Born: 1981 -1996 Age in 2019: 23 -38 Generation X Born: 1965 -1980 Age in 2019: 39 -54 Baby Boomers Born: 1946 -1964 Age in 2019: 5573 Silent Generation Born: 1928 -1945 Age in 2019: 74 -91 Greatest Generation Born before 1928 Age in 2019: 92+ *Pew Research 2018

*Pew Research

The Facility Management Workforce Millennials and Generation Z 15% Baby Boomers 45% Generation X 40% *International. Facility. Management. Association

Multi-generational understanding Multi-generational culture Employee engagement Employee loyalty Recruiting top talent One unified organization

Multi-generational understanding

Generation Z

Generation Z’s Strengths • Tech savvy • Strategic • Entrepreneurial • Thrifty *Bentley University 2017 *Center of Generational Kinetics 2017 & 2018

Generation Z’s Weaknesses • Communicates almost entirely on screens • Less idealistic • Less guarded with privacy *Center of Generational Kinetics 2017 & 2018

Millennials

Millennials’ Strengths • • • Tech Dependent Social Media Machines Enthusiastic Inclusive Self-Sufficient

Millennials’ Weaknesses • Entitled • No Sense of Commitment • Not Hard Workers • Know-It-All Attitude

Generation X

Generation X’s Strengths • Effective Managers • High Revenue Generators • Adaptable • Problem Solvers • Collaborators

Generation X’s Weaknesses • Lack Executive Presence • Not Cost Effective • Overlook Big-Picture • Don’t Always Speak Their Mind

Baby Boomers

Baby Boomer’s Strengths • Productive • Hardworking • Team Players • Mentors

Baby Boomer’s Weaknesses • Not Open to Collaboration • Less Inclined to Accept Change • Not Tech Savvy

Generational Differences Four-in-ten Millennial workers ages 25 to 29 had at least a bachelor’s degree in 2016. *Pew Research 2017 Only 27% of Millennials are married; whereas 65% of Baby Boomers were married at the same ages. *Gallup 2018 The U. S. divorce rate has dropped 18% from 2008 to 2016. As of 2016, 15% of Millennials were living in their parents’ home. Average student loan debt for Millennial undergraduate is $39, 400. Gen Z is the already the most racially and ethnically diverse generation, as only 52% are non-Hispanic whites. *University of Maryland *Student. Loan. Hero 2018 *Pew Research 2016 *Pew Research 2018

Multi-generational culture

*Pew Research 2018

Millennials vary by culture. *Harvard Business Review Study 2015

What Every Generation Wants: • Flexible hours • Meaningful work • Relaxed and efficient workplace • Good benefits and perks • Room for growth

Why Organizations Cause Millennials to Job Search [CATEGORY NAME] 1% [CATEGORY NAME] 6% [CATEGORY NAME] 20% [CATEGORY NAME] 18% [CATEGORY NAME] 40% *Witt/Kieffer 2017

Create a culture that is: • Well-defined • What words will guests use to describe your organization? • Properly executed • Are employees successfully living out culture at work? • Makes an impact • How is the culture helping the community? • Gives work meaning and purpose • Do employees know their role in making the culture thrive?

Employee engagement

Engagement factors: • Meaning • Employees want to know the ”why” behind their work. • Autonomy • Employees want to have freedom to succeed and learn on their own. • Growth • Employees want to see where their career today is leading them tomorrow. • Impact • Employees want to see the impact they are making through their work. • Connection • Employees want to feel like they are a vital part of their work community. *Decision. Wise 2018

Employee loyalty

Building employee loyalty • Create a strong culture • Build relationships • Affirm fellow employees • Collaborate when decision making *NRC Health 2018

One unified organization

Use Gen Z’s connectivity to access a broader audience. Use Millennials’ inclusiveness to create more diverse perspective. Use Gen X’s adaptability to discover new ways to do things. Use Baby Boomer’s experience to help mentor the younger employees.

Takeaways

Takeaway #1 To attract and retain top talent you must be open to change.

Takeaway #2 Build a community within the workplace that is supported by individual relationships.

Takeaway #3 Be aware of generational needs in the workplace to help them feel satisfied and engaged with their job.

Takeaway #4 Check in often with your Generation Zers, Millennials, Generation Xers, and Baby Boomers will help them feel motivated.

Takeaway #5 All generations in the workplace have more similarities than they do differences.