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The Leaders We Need Session : How the Next Generation is Changing Leaders and Leadership

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The War for Talent never ended. Leaders must consistently rethink the way their companies plan to attract, motivate, and retain employees.

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The Challenge: People are the biggest source of competitive advantage. 70% of management will retire in the next 7 years.

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The Challenge: Less than 10% of leaders are confident in their current talent to execute on organizational strategy.

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The Cause: Too many organizations still dismiss talent management as a short-term, tactical issue rather than an integral part of a long-term business strategy.

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The Central Issue: Leaders must link business strategy and talent management. www.bluteaudevenney.com

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<ul><li>The Link to Strategy: </li></ul><ul><li>Define strategic vision, initiatives, and goals. </li></ul><ul><li>Define the employee skills, type of motivation, and the mindset and culture needed to execute . </li></ul>

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<ul><li>The Environmental Situation: </li></ul><ul><li>Managerial Gap </li></ul><ul><li>Rise of the Knowledge Worker </li></ul><ul><li>The Impact of Demographics – Enter the Millennial </li></ul>

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<ul><li>The Managerial Gap: </li></ul><ul><li>Front-line confidence in manager’s ability declining steadily since 1999 to 25% in 2008. </li></ul><ul><li>Source: DDI 2009 </li></ul>

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<ul><li>The Managerial Gap: </li></ul><ul><li>45% of newly promoted managers fail within the first 18 months </li></ul><ul><li>50% of managers in place are assessed as not performing to potential </li></ul><ul><li>Source: Center for Creative Leadership </li></ul>

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<ul><li>Why? </li></ul><ul><li>Managers do not spend enough time on talent management </li></ul><ul><li>Too many silos and managers don’t collaborate </li></ul><ul><li>Managers are not committed to developing people’s capabilities and careers </li></ul>

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<ul><li>Why? </li></ul><ul><li>Managers are unwilling to assess performance of employees </li></ul><ul><li>Managers do not address under-performance even when chronic </li></ul><ul><li>Managers do not understand the business strategy </li></ul><ul><li>Senior leaders do not support manager development </li></ul>

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The 20 : 60 : 20 Rule

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<ul><li>The Rise of the Knowledge Worker: </li></ul><ul><li>The fastest-growing talent pool – 35% of the workforce </li></ul><ul><li>They are different because they create more profit than other employees – up to 3x more </li></ul><ul><li>They require minimal oversight </li></ul>

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Need to understand personality, communication, and collaboration.

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The Impact of Demographics: The Millennials are now 12% of the workforce and will take over in the next 10 years – they are the largest cohort since the Boomers and will change business and work.

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Millennials have been shaped by the Internet, information overload, and overzealous parents.

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Millennials demand more flexibility, meaningful jobs, professional freedom, higher rewards, and a better work-life balance.

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Millennials are different and more difficult to manage and lead.

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Organizations need a more inclusive approach to talent management.

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The Employee Value Proposition: Why should a smart, energetic, and ambitious person want to work for your organization?

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Think about culture, competencies, and motivators.

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<ul><li>Leading across generations: </li></ul><ul><li>Boomers (1946-1964) </li></ul><ul><li>GenX (1965-1981) </li></ul><ul><li>Millennials (1982-2002) </li></ul><ul><li>Homelanders (2002+) </li></ul>

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<ul><li>Why are Millennials important? </li></ul><ul><li>There are 82 million Boomers and 100 million Millennials </li></ul><ul><li>They are the biggest Generation ever </li></ul><ul><li>They are different </li></ul>

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Why are Millennials important? They will re-define work environments, success, communication, management, entrepreneurism, culture, professional relationships and leadership.

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“ These confident young people tend to be very opinionated and expect to be heard. They also crave feedback and praise for accomplishments.” Career Journal

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<ul><li>Where they came from: </li></ul><ul><li>Told they were special </li></ul><ul><li>Coddled and nurtured </li></ul><ul><li>Bike helmets and baby-on-board </li></ul><ul><li>Raised to express their feelings </li></ul><ul><li>Encouraged to be involved </li></ul><ul><li>Told to experience new things </li></ul>

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<ul><li>Millennials have seven core traits: </li></ul><ul><li>They are special </li></ul><ul><li>They are sheltered </li></ul><ul><li>They are confident </li></ul><ul><li>They are team-oriented </li></ul><ul><li>They are conventional </li></ul><ul><li>They are pressured </li></ul><ul><li>They are achievers </li></ul>

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Millennials are optimistic: 78% said their life would be better in 10 years and 90% said, “If I work hard, I can achieve my goals.”

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<ul><li>What leaders need to know: </li></ul><ul><li>They are multi-tasking, goal-oriented, and confident </li></ul><ul><li>They want to have fun at work, have work-life balance and work as pack animals </li></ul><ul><li>They have a strong individual spirit and optimism </li></ul>

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“ This is the most high-maintenance workforce in the history of the world. The good news is they are also going to be the highest performing workforce in the history of the world.” Bruce Tulgan

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<ul><li>The Leader’s Message for Millennials </li></ul><ul><li>We provide new experiences and opportunities </li></ul><ul><li>We value integrity and honesty </li></ul><ul><li>We challenge you quickly </li></ul><ul><li>We give you a path of advancement </li></ul><ul><li>We offer a flexible work environment </li></ul><ul><li>We reward hard work </li></ul><ul><li>We have a fun atmosphere </li></ul>

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<ul><li>The Leader’s Message for Millennials </li></ul><ul><li>We treat you with respect and value your opinion </li></ul><ul><li>We provide mentoring and leadership development </li></ul><ul><li>We respect your personal life </li></ul><ul><li>We offer a collaborative environment </li></ul><ul><li>We support diversity </li></ul><ul><li>We are charitable and green </li></ul>

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www.bluteaudevenney.com Millennials expect a lot from their leaders and do not have the patience to wait.

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“ A Millennial’s psychological contract is with the relationships within the organization, not the organization itself.” University of Wisconsin

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<ul><li>The Millennial Motivators: </li></ul><ul><li>Ask what motivates them </li></ul><ul><li>Outline goals and rewards </li></ul><ul><li>Recognize </li></ul><ul><li>Create a fun culture </li></ul><ul><li>Lots of feedback </li></ul><ul><li>Rewards of increased responsibility </li></ul>

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Lead the Millennial Culture Shift