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Chuck Palmer
Regional Managing Director
Wipfli LLP
Allied Executives Business & Economic Outlook Event 2014
© Wipfli LLP 4
Leading a Multiple
Generation Workplace
Date or subtitle Allied Executives 2014
Annual Business Update Conference
Chuck Palmer-Regional Managing Director-Minnesota © Wipfli LLP
© Wipfli LLP
“If we don’t get the people thing right, we lose. It’s the most important thing
in all our businesses.”
– Jack Welch, Former CEO, General Electric (GE)
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© Wipfli LLP
Presentation Highlights
Brief walk down memory lane
What’s the big deal?
Four approaches for Multigenerational differences
Tips for leading a Multigenerational workforce
Steps to success
Other resources
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© Wipfli LLP
The Generations
Traditionalists (1925-1945)
Baby Boomers (1946-1964)
Generation Xers (1965-1981)
Millennials (1982-2000)
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© Wipfli LLP
Millennials (1981 – 1999)
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© Wipfli LLP
Tweeners
Tweeners
•Traditionalists/Baby Boomer (1943-1948)
•Baby Boomer/Xer (1962-1967)
•Xer/Millennial (1979-1984)
Old enough to understand concerns and issues of the
older generation, yet young enough to relate to the
younger generation.
Share common history with younger generation;
accepted by older generation as “one of them.”
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© Wipfli LLP
Shifting demographics will dramatically increase the
war for talent.
Smart business leaders will gain the advantages of
a multigenerational workplace.
Just like keeping good customers, it is more
effective to keep the people you have than to find
and train new employees.
13
So what’s the big deal?
© Wipfli LLP
The Swing: 2010 to 2020
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Workforce Demographics: 2010 & 2020*
Boomers
X’ers
Millennials
NextGen
Traditionalists
Boomers
X’ers
Millennials
*
*Projected data
© Wipfli LLP
Four Approaches for Generational Differences
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From Sticking Points, Haydn Shaw,
Tyndale House Publishers
© Wipfli LLP
Tip 1: Understand and Plan for Generational
Workplace Dynamics
The events and conditions we experience during our
formative years determine who we are and how we
perceive everything around us, including our job.
As a result, each generation has adopted its own
“generational personality” and brings it to the
workplace.
Business leaders must understand and execute a focused plan to address, and gain the benefits of, the dynamics created by a multiple generation workforce.
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© Wipfli LLP
Tip 2: Establish a Multigenerational Strategy
Intentional, systematic execution of a strategy to:
Recognize, support, and utilize the inherent
differences and strengths of each generation’s
“DNA”;
Build an integrated culture, “best place to work”
environment;
Recognize the capability, and capacity, of every
employee to drive short- and long-term business
results and reach the vision of the organization.
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© Wipfli LLP
Multigenerational People Strategy
Ensure that effective multigenerational talent
management strategies are in place to achieve growth
and your vision/mission;
Prepare individuals for multigenerational change by
developing critical competencies;
Promote continuity of organizational culture by
acknowledging differences and strengths of each
generation
Ensure that leadership development includes
multigenerational skills
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© Wipfli LLP
Tip 4: “Retool” your Performance
Management System
Leverage Multigenerational strengths:
Assure that employee goals and responsibilities are
aligned closely to your organization’s overall objectives,
with multigenerational differences in mind;
Assure that your performance management system is
designed to address multigenerational differences;
Imbed specifically designed multigenerational objectives
in each “people” program or initiative;
Assure that feedback mechanisms meet the
expectations of each generation.
21
© Wipfli LLP
Steps for Multigenerational Workforce Success
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Educate 1 Lead 2 Strategy 3 Manage 4 Execute 5
© Wipfli LLP
Work the Plan
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Wash, rinse, and repeat!
This will ensure continuous and deep support from all
Workplace Generations to drive your business goals
and objectives.
Continuous
Process of
Review and
Renewal
Introduction
Messerli & Kramer consists of 10 practice areas in 3
unique – yet complementary – divisions, including : Banking and Finance
Business Litigation
Corporate and General Business Law
Collections
Divorce and Family Law
Employment
Estate Planning
Government Relations
Intellectual property
Real Estate
STRATEGIC PLANNING 101
What is it?
An organization’s process of defining it’s strategy or
direction and making decisions on allocating it’s
resources to pursue this strategy
Should you do it?
Absolutely
WHY?
Current strategy – what is it
Well thought-out – sound
Appropriate
Doable
We are already successful – past tense- guarantee
of future success?
Uncertain world – the greater the uncertainty the
greater the need
WHAT IF YOU DON’T?
Leadership indifference
Confusion among the employees
Complacency of stakeholders
Short-term thinking
Lack of unity
Deeply entrenched traditional perspectives
PLANNED SCORECARD COLLABORATIVE
95% of workforce doesn’t understand its
organization's strategies
90% of organizations fail to execute strategy
successfully
86% of executive teams spend less than one hour
per month discussing strategy
60% of organizations do not link strategy to
budgeting
IS IT AFFORDABLE?
Can’t afford not to
Top management teams
devote 2 – 4% of their time to strategic planning
Not more to do, but doing it better
WHAT IS A GOOD PLAN?
Reflects values of the organization
Inspires action
Explains how you win
Defines criteria to achieve success
Guides decision making
Failure – OK (re-think, re-tool, re-strategize, go
forward)
PIT FALLS
Must agree at the outset it is important
Relying on bad information
Ignoring revealing information
Being unrealistic
Do not use planning as a substitute for action
Get your organization’s house in order
Copying
Do not ignore your culture
WHAT IS IN A PLAN? (continued)
Competitive Advantage
Long-Term Strategic Objectives
Strategies
Short-Term Goals/Priorities/Initiatives
Action Items/Plans
Scorecard
Financial Assessment
WHAT IS IN A PLAN?
Mission
Overarching and timeless
Vision
Organization’s near future
Values
These are organization’s guiding principles
SWOT Analysis
Tips for Better Strategic Planning (continued)
Make clear achievable action items/goals
Keep it flexible – subject to change
Always articulate next steps when completing a session
Make strategic thinking a habit
Always focus on implementation
Tips for Better Strategic Planning
Find An Expert – The Best Money Ever Spent
Select a Good Team It should consist of key leaders and managers of different areas of the
organization, people who are diverse, which could include different ages,
genders, personality types and generational types, etc.
Allow time for brainstorming and big picture thinking
Get commitment from key people
Allow open and free discussions from all
Make implementation part of all discussions
Contact Us
Locations
Minneapolis 612-672-3600
St. Paul 651-228-9757
Plymouth 763-548-7900
Milwaukee 414-847-6247
www.messerlikramer.com
Tamara Prato
Group Publisher
Minnesota Business Magazine
Allied Executives Business & Economic Outlook Event 2014
Concise Definition of Marketing
mar·ket·ing The action or business of promoting and selling products or services, including market research and advertising. (Oxford Dictionary)
Like it or Not, We’re all in Sales
One in nine Americans works in sales. But so do the other eight. Whether we’re employees pitching colleagues on a new idea, entrepreneurs enticing funders to invest, or parents and teachers cajoling children to study, we spend our days trying to move others. Like it or not, we’re all in sales now.
Top Digital Strategies for 2014
• Driving Increased conversion rates
• Increasing and improving brand awareness
• Collecting, measuring and using behavior-based data
Current Digital Trends
98% of marketers plan to increase or maintain their spend in 2014 Increase in dollars will come in: • Data and analytics • Marketing automation • Email marketing • Social media marketing • Content Management
Email is Not Dead
68% of marketers stated email marketing is core to their business • Email indirectly impacts your business performance
(42%) • Email is a critical enabler of products/services your
business provides (42%) • Your business’s primary revenue source is directly
related to email operations (16%)
Responsive Design for Email
42% of companies DO NOT currently use mobile responsive design for their emails • 41% of customers read email on mobile device 30-50%
of the time • 19% of customers read email on mobile device 51-70%
of the time
The Future of Mobile
What current users of mobile marketing believe:
• 29% mobile marketing is producing ROI • 51% mobile marketing will eventually produce ROI • 16% mobile marketing is unlikely to produce ROI
How Social are You?
46% of marketers agree that social marketing is key to their business. Question is effectiveness • 36% believe social provides ROI • 52% believe social will produce ROI • 12% believe social is unlikely to produce ROI
2014 Will Be The Year Of The ___: • Publish or Perish • Event Integration • Voice of the Customer – Listen Don’t Ask • Social Curation • Content Marketing • Native Advertising • Holistic Measurement
• Additional digital staff • New product mix including events and digital products • New design – Not your Daddy’s Business magazine • Strategic partnerships • Weekly “smarketing” meetings • Listen to client needs and what is missing in the market
How Tiger Oak has Adapted
Dave Faust
Director of Sales & Marketing
Anchor Bank
Allied Executives Business & Economic Outlook Event 2014
Thanks to all of the business owners
and leaders in the room for being
the backbone of the economy.
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Thank You
John P. Palen
CEO & Founder
Allied Executives
Allied Executives Business & Economic Outlook Event 2014
Strategies For Business Execution
Allied Executives Business & Economic Outlook Event 2014
I. Organization
II. Culture
III. Communication
IV. Accountability
V. Discipline
VI. Outside Support
I. Organization
Allied Executives Business & Economic Outlook Event 2014
• Methodology
• Process & Procedures
• Job Descriptions
• Org Chart
• Planning
Allied Executives Business & Economic Outlook Event 2014
• Purpose
• Core Values
What are you and your employees in it for?
How does everyone know they are winning?
• Reward, Recognition, Celebration
II. Culture
Allied Executives Business & Economic Outlook Event 2014
Performance & Results Feedback
Purpose Driven Meetings
Creating Alignment & Buy-in
Leading Indicators Vs Lagging Indicators
III. Communication
Allied Executives Business & Economic Outlook Event 2014
IV. Accountability
Defined Goals + Measured Progress +
Communicated Results = Accountability
• Right People Right Seat
• Define Your Business
Formula
• Dashboards & KPI’s
• Communicate Daily
Allied Executives Business & Economic Outlook Event 2014
• Top Down Commitment
• Wearing All The Hats
• Keep It Simple 4DX
• Unwavering Devotion to Progress & Results
• Hire Slow, Fire Fast
• Cashflow & Profit over Revenue
V. Discipline
Allied Executives Business & Economic Outlook Event 2014
• Peer Groups
• Consultants
• Industry Specific Associations
• Experts & Advisors
• Board of Directors
VI. Outside Support
Independently Self-sufficient
Business Execution
Allied Executives Business & Economic Outlook Event 2014