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How to engage Generation Y into
your financial KPI’s
Vicky de Bruijn
Director Talent Management Europe
What in your view is
generation Y?
Millenials in the workplace training
Deloitte Millenials Survey 2014
75% workforce made of Millenials by 2025
• 70% Millenials see themselves as working independently at some
point in their lives
• 52% in developed countries
• 82% in emerging markets
• 50% Millenials want to work for a business with ethical practices
• 63% donate to a charity
• 43% actively volunteer or are a member of a community
organisation
• 52% sign petitions
Scope: 7,800 people born in or after 1983, with a degree and employed full time in 26 countries
© 2013 Hilton Worldwide Confidential and Proprietary
Deloitte Millenials Survey 2014
4
©2013 Hilton Worldwide Confidential and Proprietary 5
Hilton GM (IAO) straw polls
Engaging with Millenials
02/06/2014
“They don't talk,
they type”
They have never been told
"No"
“One should not see the millennial generation as a great negative challenge, but
more a great opportunity. Every era has its challenges and opportunities, ever since
the human race existed. We are in the hospitality industry and in the "people
business". We need to study and understand the needs of all our Internal
Customers and our Guests, then we will be able to meet their expectations. This is
the most rewarding part in being a Hotelier”
“They want to be recognized every day
for how good they are”
“Their expectations are generally too high comparing
to their skills/competencies”
“Low ethical behaviour; honesty,
fraud, loyalty, ownership and
accountability”
“Quick to move on, quickly bored, often
resulting in frustration and impatience.
Although this also brings a sometimes
clear view of what Millennial guest find
important when travelling”
Different generations
Generation Y:Born between early 1980s to the early 2000s.
(Approx Between 15 - 30 years, 25. 5% of world population )
Generation X: Born between early 1960s to the early 1980s
(Approx Between 31- 50 years, 21% of world population)
Baby boomers: Born between 1946 and 1964
(Aprrox Between 50- 68 years, 19% of world population)
Silent Generation/
Traditionalists: Born approximately between
1928 and 1945; (4,5 % of world population)
Generation Y
Because Y not?
Their Strengths
Integrating Paradoxes
Collaborative/ Team players
Appreciative
Connected/ Technically savvy
Ambitious
Making the most of strengths
Integrating paradoxes
Why choose?
Do not make them choose
They want it all and they find the way to get it. Even if it’s not with your company
Use this for innovation and creative thinking
You might have seemingly conflicting goals in your hotel brainstorm with your Y’s.
You may not have to choose either.
Embracing paradoxes is the art of balancing opposites.
http://www.hbs.edu/faculty/Publication%20Files/11-110.pdf
Resource
Collaborative/ team players: Group 1
Appreciative: Group 2
Connected/ Technically savvy: Group 3
Ambitious: Group 4
What can you do to build on their strengths to your and your
dept. advantage?
Making the most of strengths
Collaborative/ Team players
Why not together?
Give common goals to a team of people, instead of individual targets.
They are more collaborative then competitive. Get buy in for KPI’s through team goals.
Agree on financial goals, when possible, rather than present them as given. If the
targets are set and you cannot change them, at least debate them. Engage Ys in building
the strategy for achieving those goals. Encourage them to set higher goals.
Encourage working in projects in your propriety. You have the targets, create a
team, build a strategy, and be a team coach, rather then a boss.
Instill excellent working relationships with colleagues and managers in the department
Create a team space break out areas
Sport and social facilities/ activities as Gen Y is a sporty and social generation.
Create a more casual environment
Making the most of strengths
Appreciative
Why not build on my strengths?
Give feedback all the time, with focus on positive!
It’s not that Y’s are very sensitive of constructive criticism, they tend to take it honestly
and openly. However, they want to build on strengths rather then developing a new skill
from 0.
Say: “thank you for….!”
Not just because it’s polite. Know what you are thanking for
Making the most of strengths
Connected/ Technically savvy
Why not share?
Are you looking for someone or want to recruit somebody? They know a guy. Being so
connected makes them very good and finding all kinds of resources .
Most Y’s have big networks of people on social media and not only. Spreading the word
is something that they could do easily. Engage all your Y’s in actively promoting your
hotel, events, opportunities, through their respective networks.
The Social Media Revolution
Reverse mentoring
Through their ease and comfort with technology, invite them to help your organization
change, innovate, and grow.
Involve them in posting business success on H360 or other ways to share business
success on line.
Making the most of strengths
Ambitious
Why not exceed?
Help Y’s achieve clarity of the company’s financial goals
Give freedom in creating the own strategy/process
Provide the support/tools they need to achieve and exceed goals
Set goals that are not only achievable but also could be exceeded in the way they
are formulated. (targets like “100% compliance” are not challenging more then once)
They seek meaning and demand a constant intellectual challenge. Link achieving
the business goals to a sense of meaning and a way to challenge them.
Main Threats
Easily bored
Reluctant of authority
Challenging the status quo (Generation Why?)
Flipping Threats
Easily Bored/Distracted
Why follow through?
Encourage own initiative and independent thinking when issues need to be solved.
Gamification – Turn achieving goals into captivating games
Slides? Why not Zoom- in
www.prezi.com www.reveal.js www.impress.js
http://mashable.com/category/gamification/
Storytelling –
Presentations
should either
contain stories and
metaphors or at
least use
storytelling tools
Flipping Threats
Reluctant of authority
Why should I do what you say?
Debate.
Ask: “This is our challenge. What
do you think we should do?” Then,
use healthy debate to reach a
common goal
Engage.
Involve Y’s in creating the
targets/incentive schemes and
strategies. If they contributed to
the “rules” they are more likely to
respect them
Flipping Threats
Challenging the status quo
Why?
Use coaching to guide your Y’s to make positive changes in the company
Always ask: “What would you do different?”
Leave space/create the context for positive change
Manage the process being mindful of change resistant team members
Article
http://www.businessballs.com/changemanagement.htm
Main Motivators
Desire to
experience new
jobs
Contribution
Autonomy
Mastery
Recognition
What activities/tasks can you implement to tap into their
motivators?
Contribution Group 1
Autonomy Group 2
Mastery Group 3
Recognition Group 4
Using the Motivators
Contribution
Let them know how their tasks/objective/fits in with the company’s goal
Don’t forget the company’s vision and mission, how does your Y
contribute to that
Refer to how they impact and create the experiences of guests
Corporate responsibility will reign. Millennials will take their social values
with them to the top. Commitment to causes will be deeply imbedded into
their company’s work.
Reference to Sustainability and Travel with Purpose and how they make a
contribution
Using the Motivators
Autonomy
Clarity of the goal
Engagement on the objectives
Autonomy in building the
strategy/process
Right tools and support as needed
Be stingy with micro management, delegate projects rather then
tasks. Keep in mind your individual’s level of development and type of
support vs. autonomy required.
Using the Motivators
Mastery
Gen Y’s want to be used for what they are good at now!
Second focus is to learn or improve on weaker areas.
 Coach and mentor. Help a Y find and develop his strengths and he will use
them to achieve your goals.
Find improvement areas. Be careful, if a Y does not want/feel the need to
develop a certain skill, he will not do it. Y’s rarely strive for perfection. They want
to get better at things that are important to them.
Trial and error. Create a safe space for trial and error with providing the right
level of support. In getting mastery Y’s go for trial & error more then for theories.
They understand the importance of experiential learning and they fear failure less.
From the generation Y perspective
Using the Motivators
Recognition
Use the Hilton Recognition Tools: Recognition matters
Create the context for your “Y” to shine
Find out what the “Y” wants to be recognized as
Be honest in your recognition
Video
http://www.ted.com/talks/dan_ariely_what_makes_us_feel_good_about_o
ur_work?utm_source=newsletter_daily&utm_campaign=daily&utm_mediu
m=email&utm_content=quote__2014-03-14
Summary: Create the context
Assign projects to teams instead of targets to individuals
Link KPI’s to team targets
Present the KPI achievement as a challenge
Ask: What would you do different?
Coach and mentor rather then direct
Use dialog instead of commanding
Create the context, clarify goals, offer support, involve Ys in building strategies and
processes.
Focus on strengths & Develop their skills
Use gamification and storytelling
Allow your Y to shine
Remember the Hilton’s mission and vision. Your Y does.
Always be ready to answer “Why?”
Foster innovative thinking
Make a positive contribution to society
Summary: Create the context
Assign projects to teams instead of targets to individuals
Link KPI’s to team targets
Present the KPI achievement as a challenge
Ask: What would you do different?
Coach and mentor rather then direct
Use dialog instead of commanding
Create the context, clarify goals, offer support, involve Ys in building strategies and
processes.
Focus on strengths & Develop their skills
Use gamification and storytelling
Allow your Y to shine
Remember the Hilton’s mission and vision. Your Y does.
Always be ready to answer “Why?”
Foster innovative thinking
Make a positive contribution to society
Individual exercise:
What will be the 3 actions you will implement to engage your
Gen Y team members in your hotel/ departmental KPI’s?

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How to Engage Gen Y in Financial KPIs

  • 1. How to engage Generation Y into your financial KPI’s Vicky de Bruijn Director Talent Management Europe
  • 2. What in your view is generation Y? Millenials in the workplace training
  • 3. Deloitte Millenials Survey 2014 75% workforce made of Millenials by 2025 • 70% Millenials see themselves as working independently at some point in their lives • 52% in developed countries • 82% in emerging markets • 50% Millenials want to work for a business with ethical practices • 63% donate to a charity • 43% actively volunteer or are a member of a community organisation • 52% sign petitions Scope: 7,800 people born in or after 1983, with a degree and employed full time in 26 countries
  • 4. © 2013 Hilton Worldwide Confidential and Proprietary Deloitte Millenials Survey 2014 4
  • 5. ©2013 Hilton Worldwide Confidential and Proprietary 5 Hilton GM (IAO) straw polls Engaging with Millenials 02/06/2014 “They don't talk, they type” They have never been told "No" “One should not see the millennial generation as a great negative challenge, but more a great opportunity. Every era has its challenges and opportunities, ever since the human race existed. We are in the hospitality industry and in the "people business". We need to study and understand the needs of all our Internal Customers and our Guests, then we will be able to meet their expectations. This is the most rewarding part in being a Hotelier” “They want to be recognized every day for how good they are” “Their expectations are generally too high comparing to their skills/competencies” “Low ethical behaviour; honesty, fraud, loyalty, ownership and accountability” “Quick to move on, quickly bored, often resulting in frustration and impatience. Although this also brings a sometimes clear view of what Millennial guest find important when travelling”
  • 6. Different generations Generation Y:Born between early 1980s to the early 2000s. (Approx Between 15 - 30 years, 25. 5% of world population ) Generation X: Born between early 1960s to the early 1980s (Approx Between 31- 50 years, 21% of world population) Baby boomers: Born between 1946 and 1964 (Aprrox Between 50- 68 years, 19% of world population) Silent Generation/ Traditionalists: Born approximately between 1928 and 1945; (4,5 % of world population)
  • 8. Their Strengths Integrating Paradoxes Collaborative/ Team players Appreciative Connected/ Technically savvy Ambitious
  • 9. Making the most of strengths Integrating paradoxes Why choose? Do not make them choose They want it all and they find the way to get it. Even if it’s not with your company Use this for innovation and creative thinking You might have seemingly conflicting goals in your hotel brainstorm with your Y’s. You may not have to choose either. Embracing paradoxes is the art of balancing opposites. http://www.hbs.edu/faculty/Publication%20Files/11-110.pdf Resource
  • 10. Collaborative/ team players: Group 1 Appreciative: Group 2 Connected/ Technically savvy: Group 3 Ambitious: Group 4 What can you do to build on their strengths to your and your dept. advantage?
  • 11. Making the most of strengths Collaborative/ Team players Why not together? Give common goals to a team of people, instead of individual targets. They are more collaborative then competitive. Get buy in for KPI’s through team goals. Agree on financial goals, when possible, rather than present them as given. If the targets are set and you cannot change them, at least debate them. Engage Ys in building the strategy for achieving those goals. Encourage them to set higher goals. Encourage working in projects in your propriety. You have the targets, create a team, build a strategy, and be a team coach, rather then a boss. Instill excellent working relationships with colleagues and managers in the department Create a team space break out areas Sport and social facilities/ activities as Gen Y is a sporty and social generation. Create a more casual environment
  • 12. Making the most of strengths Appreciative Why not build on my strengths? Give feedback all the time, with focus on positive! It’s not that Y’s are very sensitive of constructive criticism, they tend to take it honestly and openly. However, they want to build on strengths rather then developing a new skill from 0. Say: “thank you for….!” Not just because it’s polite. Know what you are thanking for
  • 13. Making the most of strengths Connected/ Technically savvy Why not share? Are you looking for someone or want to recruit somebody? They know a guy. Being so connected makes them very good and finding all kinds of resources . Most Y’s have big networks of people on social media and not only. Spreading the word is something that they could do easily. Engage all your Y’s in actively promoting your hotel, events, opportunities, through their respective networks. The Social Media Revolution Reverse mentoring Through their ease and comfort with technology, invite them to help your organization change, innovate, and grow. Involve them in posting business success on H360 or other ways to share business success on line.
  • 14.
  • 15. Making the most of strengths Ambitious Why not exceed? Help Y’s achieve clarity of the company’s financial goals Give freedom in creating the own strategy/process Provide the support/tools they need to achieve and exceed goals Set goals that are not only achievable but also could be exceeded in the way they are formulated. (targets like “100% compliance” are not challenging more then once) They seek meaning and demand a constant intellectual challenge. Link achieving the business goals to a sense of meaning and a way to challenge them.
  • 16. Main Threats Easily bored Reluctant of authority Challenging the status quo (Generation Why?)
  • 17. Flipping Threats Easily Bored/Distracted Why follow through? Encourage own initiative and independent thinking when issues need to be solved. Gamification – Turn achieving goals into captivating games Slides? Why not Zoom- in www.prezi.com www.reveal.js www.impress.js http://mashable.com/category/gamification/ Storytelling – Presentations should either contain stories and metaphors or at least use storytelling tools
  • 18. Flipping Threats Reluctant of authority Why should I do what you say? Debate. Ask: “This is our challenge. What do you think we should do?” Then, use healthy debate to reach a common goal Engage. Involve Y’s in creating the targets/incentive schemes and strategies. If they contributed to the “rules” they are more likely to respect them
  • 19. Flipping Threats Challenging the status quo Why? Use coaching to guide your Y’s to make positive changes in the company Always ask: “What would you do different?” Leave space/create the context for positive change Manage the process being mindful of change resistant team members Article http://www.businessballs.com/changemanagement.htm
  • 20. Main Motivators Desire to experience new jobs Contribution Autonomy Mastery Recognition
  • 21. What activities/tasks can you implement to tap into their motivators? Contribution Group 1 Autonomy Group 2 Mastery Group 3 Recognition Group 4
  • 22. Using the Motivators Contribution Let them know how their tasks/objective/fits in with the company’s goal Don’t forget the company’s vision and mission, how does your Y contribute to that Refer to how they impact and create the experiences of guests Corporate responsibility will reign. Millennials will take their social values with them to the top. Commitment to causes will be deeply imbedded into their company’s work. Reference to Sustainability and Travel with Purpose and how they make a contribution
  • 23. Using the Motivators Autonomy Clarity of the goal Engagement on the objectives Autonomy in building the strategy/process Right tools and support as needed Be stingy with micro management, delegate projects rather then tasks. Keep in mind your individual’s level of development and type of support vs. autonomy required.
  • 24. Using the Motivators Mastery Gen Y’s want to be used for what they are good at now! Second focus is to learn or improve on weaker areas.  Coach and mentor. Help a Y find and develop his strengths and he will use them to achieve your goals. Find improvement areas. Be careful, if a Y does not want/feel the need to develop a certain skill, he will not do it. Y’s rarely strive for perfection. They want to get better at things that are important to them. Trial and error. Create a safe space for trial and error with providing the right level of support. In getting mastery Y’s go for trial & error more then for theories. They understand the importance of experiential learning and they fear failure less.
  • 25. From the generation Y perspective
  • 26. Using the Motivators Recognition Use the Hilton Recognition Tools: Recognition matters Create the context for your “Y” to shine Find out what the “Y” wants to be recognized as Be honest in your recognition Video http://www.ted.com/talks/dan_ariely_what_makes_us_feel_good_about_o ur_work?utm_source=newsletter_daily&utm_campaign=daily&utm_mediu m=email&utm_content=quote__2014-03-14
  • 27. Summary: Create the context Assign projects to teams instead of targets to individuals Link KPI’s to team targets Present the KPI achievement as a challenge Ask: What would you do different? Coach and mentor rather then direct Use dialog instead of commanding Create the context, clarify goals, offer support, involve Ys in building strategies and processes. Focus on strengths & Develop their skills Use gamification and storytelling Allow your Y to shine Remember the Hilton’s mission and vision. Your Y does. Always be ready to answer “Why?” Foster innovative thinking Make a positive contribution to society
  • 28. Summary: Create the context Assign projects to teams instead of targets to individuals Link KPI’s to team targets Present the KPI achievement as a challenge Ask: What would you do different? Coach and mentor rather then direct Use dialog instead of commanding Create the context, clarify goals, offer support, involve Ys in building strategies and processes. Focus on strengths & Develop their skills Use gamification and storytelling Allow your Y to shine Remember the Hilton’s mission and vision. Your Y does. Always be ready to answer “Why?” Foster innovative thinking Make a positive contribution to society
  • 29. Individual exercise: What will be the 3 actions you will implement to engage your Gen Y team members in your hotel/ departmental KPI’s?

Notas do Editor

  1. A generation is a group of people who have shared the same events through news, music, mood, education, parenting styles, and more, during a certain point in time (Murphy, 2007). It is through these formative experiences that a generation develops a collective outlook.
  2. http://www.deloitte.com/assets/Dcom-Italy/Local%20Assets/Documents/Pubblicazioni/gx-dttl-2014-millennial-survey-report.pdf 7,800 Millennials (those born in 1983 or later) who had a college or university degree and who were employed full-time. There were roughly 300 respondents each in 26 countries in North America, Western Europe, Latin America, and Asia-Pacific.
  3. The two generations who have the most difficult time working together are Baby Boomers and Millennials, according to survey respondents, but it appears that each generation has some problem with one or more of the others. Baby Boomers see Millennials and Generation X as lacking discipline and focus. Generation X see Millennials as arrogant. Millennials see Generation X as having poor problem-solving skills and being slow to respond. They also see Baby Boomers as resistant to change, dogmatic in their thinking, sexist, defensive, and lacking in creativity
  4. The youngest and oldest generation, Generation Z and the Traditionalists, are relatively few in number, comprising less than 10% of the workforce. The rest of the workforce is somewhat evenly divided between the other three generations, each representing about a third of the remaining workforce, but a demographic shift is underway. Baby Boomers have long been the dominant generation in the workplace, but according to a Gallup report, Generation Y, also known as Millennials, recently overtook Baby Boomers in the workforce. That shift is accelerating as more Boomers approach retirement and more Millennials find employment. The presence of all these generations in the workplace, with different values and priorities, has the potential to create a very real problem for organizations. Yet, according to a recent CIPD study, less than one-third of organizations report having an HR strategy in place for managing their aging workforce (Kirton, 2014). Organizations that lack an effective strategy to address intergenerational challenges and focus on generation-specific needs may find themselves at a competitive disadvantage, mired in conflict and missing valuable opportunities.
  5. Reverse mentoring can be an effective way to help Millennials and Baby Boomers appreciate each other’s knowledge and experience. HR should engage Millennials in the recruitment process, using social networks to recruit. Internal social media networks are also excellent platforms to foster communication, collaboration, learning, and development. Millennials’ ease and comfort with technology has helped many organizations to change, innovate, and grow.
  6. Millennials are also the most educated generation. They crave meaningful work where they feel part of the organization’s mission, and value meaningful work and helping others more than a big paycheck. Work-life balance is a fundamental expectation for Millennials, who expect to be able to work when and where they want (Dowd-Higgins, 2013). Millennials are also prone to frequent job changes as they seek new opportunities and employment on their own terms. Millennial share many of the same values with other generations —corporate and social responsibility, flexibility, the need to make a difference and to be appreciated. The difference, notes writer Kathy Gurchiek from the Society for Human Resource Management, is that they are more likely than previous generations to let employers know what they value; and they are not afraid to change jobs (or careers) if they’re not happy.
  7. To keep Millennials engaged, employers must offer this generation meaningful work. Millennials want to know how their work contributes to the larger mission. They also seek opportunities to give back through volunteer and philanthropic activities.
  8. To keep Millennials engaged, employers must offer this generation meaningful work. Millennials want to know how their work contributes to the larger mission. They also seek opportunities to give back through volunteer and philanthropic activities.
  9. Millennials prefer managers who take an educational approach and who take time to understand their personal and professional goals. Millennials value managers who coach them, are positive, motivational, collaborative, achievement oriented, and who provide structure (Murphy, 2007). Millennials distrust bureaucracy and rely heavily on their social networks. As a result, HR and talent management professionals should invite Millennial employees into the recruiting process to attract future leaders into the organization.
  10. To keep Millennials engaged, employers must offer this generation meaningful work. Millennials want to know how their work contributes to the larger mission. They also seek opportunities to give back through volunteer and philanthropic activities.
  11. Understanding the different generations, and what motivates them, can help managers develop strategies to attract, develop, and retain leaders in ways that are more relevant and appealing to each cohort. Some experts caution, however, that there is danger in over-generalizing about the different generations. No two individuals are the same, and members of the same generation may have very different life experiences, shaping different attitudes and behaviors. There’s a fine line between appreciating unique characteristics of different generations and perpetuating stereotypes of the generations. The key to managing the 5G workforce is to appreciate the differences and focus on what they have in common professionals should honor the differences while focusing on the similarities when developing plans to recruit, retain, and engage employees from different .All generations want meaningful work, opportunities to learn and develop, work-life balance, and to be treated fairly and with respect.
  12. Understanding the different generations, and what motivates them, can help managers develop strategies to attract, develop, and retain leaders in ways that are more relevant and appealing to each cohort. Some experts caution, however, that there is danger in over-generalizing about the different generations. No two individuals are the same, and members of the same generation may have very different life experiences, shaping different attitudes and behaviors. There’s a fine line between appreciating unique characteristics of different generations and perpetuating stereotypes of the generations. The key to managing the 5G workforce is to appreciate the differences and focus on what they have in common professionals should honor the differences while focusing on the similarities when developing plans to recruit, retain, and engage employees from different .All generations want meaningful work, opportunities to learn and develop, work-life balance, and to be treated fairly and with respect.