1. Live First, Work Second: Getting Inside the
Minds of the Next Generation
Molly Foley, Next Generation Consulting
Wednesday, June 1, 2011
2. Who is the “Live First, Work
Second” next generation?
How did we get here?
Wednesday, June 1, 2011
3. I must run a dry-cleaning shop so my
sons can go to medical and law school,
in order that their sons may study
sociology and communications, so that
their children can run vintage clothing
stores, act in avant-garde theatre, and
work in coffee shops.
Immigrant grandfather in Joseph Epstein’s
Snobbery: The American Version
Wednesday, June 1, 2011
4. The next generation’s Live First, Work
Second, work ethic is not some out-of-
nowhere, cosmic, egotistical self-
expression.
Wednesday, June 1, 2011
5. It’s a natural next step in a generation-
after-generation progression of economic
life in developed societies.
Wednesday, June 1, 2011
6. Maslow’s Heirarchy of Needs
Millennials
Gen X’ers
Boomers
Silents
Wednesday, June 1, 2011
7. Silents, b. 1925-1942
•Turning 69-86 years old in 2011
•Safety Needs
•Came of age during Great Depression & WWII
•Roosevelt’s “The New Deal” ensured adequate income to
secure food, housing, etc.
Wednesday, June 1, 2011
8. Silent’s secured “Safety Needs” allowing
Baby Boomers to set their sights higher
up the hierarchy…
Wednesday, June 1, 2011
9. Baby Boomers, b. 1943-1961
•Turning 51-68 years old in 2011
•Belonging Needs
•Came of age during Vietnam, Woodstock, MLK
•First workaholics, current executives
•Most believe young talent should place same importance on
work as they do
Wednesday, June 1, 2011
10. In a Boomer world, everyone belongs.
This paved the way for the independent
Generation X...this first “next generation”.
Wednesday, June 1, 2011
11. Generation X, b. 1962-1981
•Turning 30-49 years old in 2011
•Esteem Needs
•First latchkey kids as both parents worked
•Value independence and freedom.
•Mavericks, go-it-alone mentality
Wednesday, June 1, 2011
12. In our communities, Gen Xers fierce
independence has caused a dwindling of
civic and social clubs - think Rotary.
At work, Gen Xers are sometimes more
likely to question their leaders than
follow them.
Wednesday, June 1, 2011
13. Millennials, b. 1982-2001
•Turning 10-29 years old in 2011
•Self-Actualization Needs
•Grew up with scheduled activity-after-activity
•Strong parent advocacy...”you are special”
Wednesday, June 1, 2011
14. To self-actualize, Maslow says:
Teach people to be authentic, to be
aware of their inner selves and to hear
their inner-feeling voices.
Wednesday, June 1, 2011
15. To self-actualize, Maslow says:
Teach people to be authentic, to be
aware of their inner selves and to hear
their inner-feeling voices.
Wednesday, June 1, 2011
16. To self-actualize, Maslow says:
Teach people to transcend their
cultural conditioning and become
world citizens.
Wednesday, June 1, 2011
17. To self-actualize, Maslow says:
Teach people to transcend their
cultural conditioning and become
world citizens.
Wednesday, June 1, 2011
18. To self-actualize, Maslow says:
We should help people discover their
vocations in life, their callings, fates,
or destinies. This is especially focused
on finding the right career and the
right mate.
Wednesday, June 1, 2011
19. To self-actualize, Maslow says:
We should help people discover their
vocations in life, their callings, fates,
or destinies. This is especially focused
on finding the right career and the
right mate.
Wednesday, June 1, 2011
20. To self-actualize, Maslow says:
We should refresh consciousness,
teaching people to appreciate beauty
and the other good things in nature
and in life.
Wednesday, June 1, 2011
21. To self-actualize, Maslow says:
We should refresh consciousness,
teaching people to appreciate beauty
and the other good things in nature
and in life.
Wednesday, June 1, 2011
22. Why does the next generation
matter?
Wednesday, June 1, 2011
23. Economics
Demographics
Psychographics
Wednesday, June 1, 2011
24. 1. Economics:
Shift from goods based to
knowledge based economy
Wednesday, June 1, 2011
25. Founded 2005
Founders: Steve Chen, Chad Hurley, Jawed Karim
Age: 27, 29, 26
Wednesday, June 1, 2011
26. Founded in 2004
Founder: Mark Zuckerberg
Age: 20
Wednesday, June 1, 2011
27. Founded in 2006
Founder: Jack Dorsey
Age: 30
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28. 2. Demographics
The greying of our workforce
Wednesday, June 1, 2011
30. In developed countries, the dominant
factor will be...the rapid growth in the
older generation, and the shrinking of
the younger generation.
Peter Drucker, Managing in the Next Society
Wednesday, June 1, 2011
43. 60% of Millennials in their 20’s
receive support from parents.
Wednesday, June 1, 2011
44. How can we attract and engage
young talent?
Wednesday, June 1, 2011
45. Intentional Design
What if we (re)designed our workplaces &
cities with the next generation of leaders
in mind?
Wednesday, June 1, 2011
46. Build on your assets and invest
in the amenities that matter to
your target demographic.
Wednesday, June 1, 2011
47. Jobs are one of the SEVEN
factors young talent weigh
when choosing their place to
live.
Wednesday, June 1, 2011
48. However, its the RIGHT job and
RIGHT work culture that matter
most to young talent...
Wednesday, June 1, 2011
49. We’ve interviewed and surveyed
over 50,000 executives and young
employees and here’s what we’ve
learned...
Wednesday, June 1, 2011
50. People Profit
The evidence behind Next Companies® shows that people-
centered practices can be profitable, and that profitable
businesses can be people-centered.
Wednesday, June 1, 2011
51. What do you want your employees to
be “homesick” for?
Six Dimensions of Engagement
51
Wednesday, June 1, 2011
53. We are who we say we are!
Wednesday, June 1, 2011
54. Trust in the workplace means...
Managers believe employees want to be
productive.
Employees are enthusiastic and passionate
about their work and the company’s
mission.
People cooperate and collaborate, leading
to positive workplace interactions, higher
profits, and greater productivity.
Wednesday, June 1, 2011
55. Management
My manager gets the best work
out of everyone on our team.
Wednesday, June 1, 2011
56. In their groundbreaking research
outlined in First Break All The Rules,
authors Buckingham and Coffman
state: Talented employees need
great managers.
How long an employee stays and
their productivity is determined by
their relationship with their
immediate supervisor
Wednesday, June 1, 2011
57. In our research among 20-40 year
olds, when asked, “Why did you
leave your last job?” the most
common responses all fall into one
category:
bad management
Wednesday, June 1, 2011
59. Life-Work Balance
I can have a life and a career.
Wednesday, June 1, 2011
60. People under 40 are twice as likely
to rate Life-Work Balance as their
number one.
Wednesday, June 1, 2011
61. When asked what their “ideal hours”
would be, most Millennials (67%)
chose 40 hours per week.
NGC Panelist Survey 2009
Wednesday, June 1, 2011
62. For Millennials, Life-Work Balance means:
1) Flexible hours (e.g. compressed work week)
2) A fair and reasonable workload
3) The option to work from home
Wednesday, June 1, 2011
63. Rewards
I am rewarded - with pay, perks
(benefits), and pats on the back
(recognition) - in line with my
contribution.
Wednesday, June 1, 2011
65. Development
I am expected and encouraged to learn and grow.
Wednesday, June 1, 2011
66. In terms of DEVELOPMENT...
Challenging, non-repetitive work
Opportunities to assume leadership roles
on projects
Employer support to pursue training,
advanced degrees or certifications
Wednesday, June 1, 2011
67. At Google, employees are
encouraged to work 20% of
their time outside of their job
description.
Wednesday, June 1, 2011
68. Connection
I feel that I am a part of something bigger.
Wednesday, June 1, 2011
69. In terms of CONNECTION...
Working for a company whose values and
mission resonate with my own
Having pride in my job and my company
Working in a team environment
Wednesday, June 1, 2011
70. Life-Work Balance
Development
Connection
Rewards
Trust Management
Wednesday, June 1, 2011
72. Age & Gender
Years of experience in field
Years of experience in organization
# and age of children
# and age of adult dependents
Martial status
Supervisor status
Employment status of spouse/partner
Race/ethnicity
Income
Wednesday, June 1, 2011
73. Younger, less experienced
workers value life-work
balance & development more.
Wednesday, June 1, 2011
74. Men favor rewards & women
favor balance more.
Wednesday, June 1, 2011
75. Life-work balance is
significantly more important for
parents with young children.
Wednesday, June 1, 2011
76. Top 3 Young Talent Magnets:
Compensation / Rewards
Flexible Schedules / LWB
Learning Opportunities / Development
Wednesday, June 1, 2011
82. Visiting a location and getting to feel
what it would be like to work and live
in that atmosphere. Meeting people
that I would be working with.
Emphasizing how the company is
involved in the community.
27-year-old female
Wednesday, June 1, 2011
83. Quality of place plays a key
role in your recruitment efforts.
Capitalize on your community’s
distinctiveness
Wednesday, June 1, 2011
84. Seven Indexes to measure
quality of place
Wednesday, June 1, 2011
85. Cost of Lifestyle
Can I afford to live and OF LIFESTYLE
COST play here?
Can I afford to live here?
Wednesday, June 1, 2011
86. Earning
The quality and diversity of job and career opportunities.
Wednesday, June 1, 2011
87. Vitality
Does the community value a healthy lifestyle?
Wednesday, June 1, 2011
88. Learning
Is this a “smart” community, and one that
values ongoing education?
Wednesday, June 1, 2011
89. Around Town
How easy is it to get around - and in and out of - town?
Wednesday, June 1, 2011
90. After Hours
What’s there to do after work, and on weekends?
Wednesday, June 1, 2011
91. Social Capital
Does the community engage all people?
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92. Young Talent Ranking of Indexes
INDEX VALUE PERCEPTION +/-
COST OF LIFESTYLE 98% 78% -20%
EARNING 96% 52% -44%
VITALITY 93% 63% -30%
AROUND TOWN 91% 75% -16%
LEARNING 91% 73% -18%
SOCIAL CAPITAL 87% 48% -39%
AFTER HOURS 87% 63% -24%
Wednesday, June 1, 2011
93. Bottomline
Great talent drives economic prosperity.
Talent clusters in the cities & regions that
have the assets and amenities they value
and the companies that value them.
Wednesday, June 1, 2011
94. Look at the...
Policies
Attitudes
Behaviors
Social Networks
How do you embrace the LFWS
mindset?
Wednesday, June 1, 2011