The Engaged Culture
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An introspection into the effect of generational differences and how our Corporate Cultures can leverage these differences to better engage their employees.
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The Engaged Culture
- 1. The Engaged Culture Inspecting the generational effect and your organization
- 2. 2 Corporate Culture defined Corporate Culture is the values, beliefs and attitudes that characterize a company and guide its practices.
- 3. 3 Corporate Culture defined Corporate Culture is often implied, not expressly defined, and develops organically over time from the cumulative traits of the people the company hires.
- 4. 4 Culture: The organization’s view Ensure Feedback Breakdown Silos Honest Conversations Foster Engagement Create Energy Bring Core Values Facilitate Actionable Meetings
- 5. The Engaged Culture The quandary of the generational impact
- 6. 6 Who’s in the workforce? Traditionalist 4% Baby Boomer 35% Gen X 29% Millennial 32% Workforce Distribution 2015 Generation Birth Year # Employees in workforce (M) Traditionalist Before 1946 7 Baby Boomer 1946 – 1964 60 Generation X 1964 – 1984 51 Millennial 1984 – 2004 55
- 7. 7 Generational Lines GI Generation 1908 – 1929 Archetype: - Hero Childhood: - Protected Silent (Traditionalists) 1929 – 1946 Archetype: - Artist Childhood: - Suffocated Boomer 1946 – 1964 Archetype: - Prophet Childhood: - Indulged Generation X 1964 – 1984 Archetype: - Nomad Childhood: - Abandoned Millenials 1984 – 2004 Archetype: - Hero Childhood: - Protected New Silent / Homelander (Z Gen (iGen)) 2004 – ???? Archetype: - Artist Childhood: - Suffocated
- 8. 8 Generational Lines GI Generation 1908 – 1929 Archetype: - Hero Childhood: - Protected Silent (Traditionalists) 1929 – 1946 Archetype: - Artist Childhood: - Suffocated Boomer 1946 – 1964 Archetype: - Prophet Childhood: - Indulged Generation X 1964 – 1984 Archetype: - Nomad Childhood: - Abandoned Millenials 1984 – 2004 Archetype: - Hero Childhood: - Protected New Silent / Homelander (Z Gen (iGen)) 2004 – ???? Archetype: - Artist Childhood: - Suffocated Crisis 1929 – 1946 War & Recession Defining Events: Great Depression World War II Values: Community Technology Protection Awakening 1964 - 1984 Consciousness Revolution Defining Events: Assasinations (JFK/MLK) Vietnam War Woodstock Values: Civil Rights Gender Equality Spiritualism High 1946 – 1964 Reconstruction / Gilded Age Defining Events: Cold War Emerging Youth Culture Emerging social justice Values: Conformity Growth/Affluence Expertise Unravelling 1984 – 2008 Culture Wars Defining Events: AIDS Berlin Wall Values: Individualism Pragmatism Survivalism Crisis 2008 – 2020? Recession Defining Events: 9/11 War on Terror Great Recession Declining Superpower (USA) Values: Community Technology Protection
- 9. 9 Generational Perspectives Traditionalists Baby Boomers Generation X Millennials Outlook Practical Optimistic Skeptical Hopeful Work Ethic Dedicated Driven Balanced Ambitious View of Authority Respectful Love/Hate Unimpressed Relaxed, polite Leadership By Hierarchy Consensus Competence Achievement, pulling together Relationships Self-sacrifice Personal gratification Reluctance to commit Loyal, inclusive Perspective Civic-minded Team-oriented Self-reliant Civic-minded Turn-Offs Vulgarity Political incorrectness Clichés, hype Cynicism, condescension
- 11. 11 The engaged employee value chain Performance Engaged view they are 15X more productive Retention Engaged view they are 5X more committed Creativity Engaged view they are 110% more open to new ideas Increased Revenue Decreased Costs Profitability and Shareholder Value Engaged employees drive: Performance, Retention, and Creativity drive: Increased Revenue and Decreased costs drive: Source: McLean & Company
- 12. 12 Engaged Cultures drive growth Highly engaged employees are twice as likely to be top performers. (Source: Watson Wyatt) Source: McLean & Company Engaged revenue 43% (Source: The Hay Group) Engaged 19.2% Disengaged 32.7% (Source: Towers Watson) Operating Income
- 13. 13 Engaged Cultures improve retention Benefit 1. Attract and retain the right people 2. New hire experience 3. Productivity 4. Retention If the culture is strongly defined and positive for the organization, likeminded personalities are more likely to apply and unsuited candidates will stay away. Strongly defined positive cultures provide a good foundation for building interesting and impactful onboarding programs. Correlation Interpretation 0.0 to 0.2 Very weak to negligible correlation 0.2 to 0.4 Weak, low correlation 0.4 to 0.7 Moderate correlation 0.7 to 0.9 Strong, high correlation 0.9 to 1.0 Very strong correlation Healthy corporate cultures are strongly related to employee retention. Of all drivers, culture has the greatest correlation with intent to stay. With the cost of hiring top talent rising, investing in culture is an eventual cost savings. Why? What do these correlation numbers mean? Source: McLean & Company; N = 1018 Healthy cultures fuel employee performance. When employees like where they work they’re more likely to be productive and focus on their work.
- 14. 14 Being disengaged Gallup estimates disengaged employees cost nearly $450 B in lost productivity Analysis of the Glassdoor database shows that the average employee gives their company a C+ (3.1 out of 5) when asked whether they would recommend their company to a friend (Bersin by Deloitte research with Glassdoor). Companies that focus on building great leaders spend almost 3X the average on leadership development, and they get a tremendous return for it.
- 15. 15 We are getting better right? % Employees 2013 2014 Engaged 29.6 31.5 Not engaged 51.5 51.0 Actively disengaged 18.8 17.5 U.S. Employee Engagement, 2013 vs. 2014 % Employees 2013 2014 Millennials 27.5 28.9 Generation X 29.6 32.2 Baby boomers 30.9 32.7 Traditionalists 38.3 42.2 U.S. Employee Engagement, by Generation Source: Gallup 2015
- 16. 16 Play – Motivated by the work itself, you enjoy it. Potential – the result of our work benefits our identity and opportunity. Motivation: What’s a good motive Purpose – direct outcome of work fits our identity. Source: McGregor and Doshi – HBR 2015
- 17. 17 Emotional Pressure – is a threat to your identity Inertia – doing the work because you did it yesterday. Motivation: What’s a negative motive Economic Pressure – work is done merely to gain a reward or avoid punishment. Source: McGregor and Doshi – HBR 2015
- 18. 18 It’s a simple matter…. Work Management Environment Opportunity Leadership Fit to skill and flexible Transparent, concise goals Flexible work environment Training and support on the job Clear mission and purpose Autonomous Mentor Humanistic workplace Facilitated talent mobility Continuous investment in people Small empowered teams Develop future management Culture of recognition Self-directed, dynamic learning Transparency and honesty Time to play Modern performance management Inclusive, diverse work environment High-impact learning culture Inspiration Variant of: Bersin (Deloitte)
- 19. 19 In Closing • Generational differences create needed perspectives in an organization and help foster the organization’s culture. • Engagement needs understanding to improve how we interact throughout the organization at all levels. • Focus on positive motivation and keep it simple. • By 2020 there will be a 2 million skilled worker deficit, what are you doing to prepare for it?
- 20. 20 DISCOVER MORE ABOUT HOW YOUR CULTURE IS AFFECTING YOUR STRATEGY VISIT US AT ECIHELPERS.COM (844) 232-4435 ppatterson@ecihelpers.com