Peter Sheahan - Generation Y Blog

Bring on the Baby Bosses

One of my loudest rants in my seminars and workshops is that we don't just need to teach the Boomers and X'ers to manage Gen Y, but also how to cope with being managed by Generation Y. I speak from personal experience. In my career in the Hotel industry I found myself the General manager of a 4.5 million dollar Hotel with 30 staff at just 19 years old. I had some staff who were more than twice my age and did not like being managed by someone as young as me. The power trip I was undoubtedly on, and my need to prove myself certainly did not help matters, but there was definitely and ego clash for those who were significantly older than I was.

My case is far from an isolated example. This is happening across all industries and is only going to get more serious. How well would you handle being managed by someone younger than you? What about someone 20 years younger than you? Are you and your organisation ready for this?

http://www.theglobeandmail.com/servlet/ArticleNews/TPStory/LAC/20050302/CAYGBOSS02/TPBusiness/General/

www.petersheahan.com

Even the lawyers are feeling the pain!

It appears that it is not just accountants that are feeling the pain as lifestyle centered Gen Y'ers enter the workforce. The lawyers are feeling it too. Not just in the US as this article suggests but in Australia as well. I have seen some frightening attrition figures for some of Australia's leading firms amongst graduates. The reason; there is a generation of partners who gave up a great deal in terms of time and energy to make it to the level they are at, who are now managing Generation Y graduates and junior associates who fully expect to reach the same level of career success but want to do it working 40 hours a week and having a social life, instead of the 90 hours the current partners had to do.

The legal industry is at an advantage becuase they have no problem attracting the best talent, however as time progresses they seem to be having a problem retaining them. With estimates as high as $190,000 for replacement costs for a 3rd year graduate in a national law firm, this is no small cost either.

Similarly for the accounting profession, the business model most law firms are built on is going to make it difficult to manage Generation Y. The profitability of the firm is directly proportionate to the billable hours that can be achieved. Therefore, there is an inbuilt desire for partners to have their staff working as many hours as possible. As a generation who have an outcome focus, not a process focus, they will see no need to do "long" hours if they can get the job done in a shorter time. Not to mention the ethical debate about what activities those extended hours are filled with.

The US study conducted by Edge International, a professional services consulting firm, found that the 25- to 30-year-old group ranked the following factors as motivators at their jobs:

• time for personal life
• opportunities for advancement
• professional growth
• achievement
• intrinsic nature of work
• security
• leadership
• and being a member of a team.

US Article: http://www.nylawyer.com/news/05/02/022805h.html

www.petersheahan.com

Is e-learning the next big thing?

A survey of senior executives in 1200 Australian organisations by recruitment firm Chandler Macleod Group found that 60 per cent of respondents believed e-learning was the future for employees wanting to study and work full time.

With a generation who not only understand technology, but feel it in their gut it is very likely that certain education and training programs will go online. In fact they already are. They will not however, I guarantee it, altogether replace the role of face to face teaching and learning, no matter how sophisticated it gets. It will be one more tool in the belt and will hopefully replace some of the boring and mundane trainers and teachers that fill many classrooms.

www.petersheahan.com

Stay Home Dads

According to US Census figures there have been an increase of 56% of stay home Dads since 1986, and the numbers are expected to continue to rise.

Given my recent post on how much Women rock, in a business world where we get remunerated for the value we add and not the length of our Academic background, or relation to the boss, or the sex we happen to be, it is very likely that many women will earn more money than their male partners. Interesting times ahead I say...

So the future will look like this...

Check out this great article about what the near future will look like. Say good bye to cheque books. radios. fax machine and cable television and say hellow to tennis balls that don't lose their bounce, car paint that does not get scratched and a place where the internet is not some place you access through your PC but it is everywhere and everything. Sounds AWESOME!!! Does it scare you? Get over it...

And don't give me the "it is not going to happen" because it is.

http://www.startribune.com/stories/389/5235266.html

www.petersheahan.com

Hotels are shifting their focus to younger travelers

In an attempt to appeal to Generation X and generation Y travelers, both the Marriott and the Hilton Hotel chains are beginning to introduce in room gym equipment.

Demand is only going to grow, said Jenny Botero, who helped develop Marriott's new program.

"Our demographics and our customers are changing. Although the boomers still stay with us, we're really watching the X'ers and some of Generation Y. Fitness is really important to these demographic groups," said Botero.

Marriott offers resistance tubes and a weighted device that comes with an accompanying video for aerobic exercise and strength training.

Hilton's in-room equipment includes a yoga mat, elastic exercise bands, resistance tubing, and 3- and 5-pound hand weights.

Given that the initiatives have just been launched it is too early to determine whether they have been successful, but I believe they are moving in the right direction.

The Westin both in the US and in Asia and Australia have not invested in in room equipment but in upgrading their in house gyms.

http://www.freep.com/news/statewire/sw111754_20050215.htm

www.petersheahan.com

Generation Y as Trend Setters

In my last post about Gen Y using technology as a primary medium of technology, I came across a great quote from the Consumer Services Director at NineMSM. In an article in The Advertiser he said "The Gen Y influence is spreading as more people in the general community adopt informal communication tools."

http://www.theadvertiser.news.com.au/common/story_page/0,5936,12241779%255E21669,00.html

www.petersheahan.com

Generation Y communicate through different mediums

I am repeatedly asked questions in my seminars on Generation Y and their tendency to communicate in different ways than older generations, particularly their tendency to use email, instant messenger and SMS. The issues that are most commonly raised are:

• How do we manage and retain knowledge through such mediums?
• Isn't it a little impersonal.

To which the answer is you can't and no. It is very difficult to monitor such communications and trying to do so may be more of a headache then it is worth. And as for being a little impersonal, I disagree. Impersonal for someone who has not spent most of their life communicating using technology, but not for a member of a generation bread using such technology. For example, just 3 weeks ago my Grandmother passed away. My younger brother (18) sent dad and email offering his condolences and as far as he as concerned this was a perfectly acceptable thing to do.

A recent study of 1000 on line Australians found that almost half of those aged under 35 regularly used instant messaging to communicate at work, with almost 90 percent considering good spelling and grammar was not important in their on line business communications.

Other key findings from the study revealed:

76 per cent of Australians don't use correct grammar when on line;

Cyberspeak is growing with 50 per cent of on line Australians regularly using jargon such as L8R (later), K (okay) or CU (see you);

63 per cent admitted to being more cheeky and 54 per cent of men reckon they're more direct and bolder on line.

More on Generation Y and Marriage

I came across the following research for Australia...

The median age for marriage in 2002 was 29 for men and 27.1 for women.

http://www.thecouriermail.news.com.au/common/story_page/0,5936,12209991%255E3102,00.html

www.petersheahan.com

Direct Mail and Generation Y

Does Direct Mail work for Generation Y? See for yourself (US data)

According to US Survey 'Customer Focus 2005: Retail Direct Marketing' 26 percent of female Generation Y direct mail readers born from 1978 to 1994 said they visited a store based on direct mail. 90 percent of female Generation Y retail direct mail readers born from 1978 to 1994 said they read grocery direct mail, compared with 85 percent of older baby boomers.

www.petersheahan.com