You remember running home to watch the Mickey Mouse Club

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Managing IntergenerationalRisk

• October 21st, 2008

SCWCEA Conference
Dan McGarvey, CPCU, ARM, CEBS
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Your Speaker
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Why Dont They Listen to Me??..
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They Cant Find You
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They dontaccept you as having unique
professionalskills
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(No Transcript)
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Or maybeyou are failing to bridge the
generation gap
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Your 20 Yr Old Intern

• Has never used a rotary phone
• A record player is a museum quality antique
• Has never known fewer than 100 TV channels
• Has had access to the internet for every paper he
  has ever written

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Why Cant He Just Be Like Me?
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Why is He Different?

• He didnt walk 10 miles to school uphill in the
  snow

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Why is He Different?

• His family situation was likely different

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Why is He Different?

• You likely had plenty of competition for
  attention and resources

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Why is He Different?

• He likely did not

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Why is He Different?

• You had heroes to look up to

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Why is He Different?

• His heroes were often excoriated

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Today No Hero is Safe
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Why is He Different?

• You had opportunities for independence and
  enterprise

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Why is He Different?

• He grew up in a relative cocoon

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Why is He Different?

• He likely did not experience much in the way of
  corporal punishment

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Why is He Different?

• And the military to him has always been only for
  volunteers

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Why is He Different?

• You werent affected by globalization

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Why is He Different?

• He may not have done much in the way of heavy
  lifting

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Why is He Different?

• But hes always had plenty of strokes

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Why is He Different?

• Your idea of news

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Why is He Different?

• His idea of news

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Why is He Different?

• Your idea of play

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Why is He Different?

• His idea of play

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Why is He Different?

• He spent more time home alone

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Why is He Different?

• And in a sense become independent from an early
  age

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Why is He Different?

• He saw corporate America let a lot of people
  down

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Why is He Different?

• And expects less loyalty than you

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Why is He Different?

• More twenty-somethings believe in UFOs than in
  Social Security

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You Know You are a Boomer if
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You Know You are a Boomer if

• You remember running home to watch the Mickey
  Mouse Club
• You recall typing term papers
• You watched Elvis movies in a theatre
• James T. Kirk captained the Enterprise
• You remember the moon landing
• You watched every episode of Leave it t Beaver
  and Gilligans Island

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You Know You are a Generation Xer if
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You Know You are a Generation Xer if

• You grew up wearing polo shirts with alligators
  on them
• You remember playing Asteroids
• Youve ridden backwards in a family station wagon
• Your first favorite movies were ET and Star Wars
• You wore a silk shirt to a disco

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You Know You are in Generation Y if
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You Know You are in Generation Y if

• Youve always had voice mail at home, and an
  automatic is a weapon
• Youve never used a typewriter and always played
  video games
• Basketball didnt exist before MJ
• Prescription drugs have always been advertised on
  TV
• Mission Impossible, Wild Wild West and Batman are
  movies

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What About Todays Graduating High Schooler?

• Iraq has always been our number one foreign
  policy concern
• There has always been a Bush or a Clinton in the
  White House
• A cell phone with unlimited minutes is a
  birthright
• The Internet has always been available for
  research allowing for procrastination
• Political Correctness has always been the rule

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Age Related Stereotypes Lets Get Them on the
Table
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Young Worker Stereotypes

• Young workers are not reliable
• Young workers dont respect authority
• Young workers are always looking for short cuts
• Young workers arent willing to pay dues
• Young workers have unrealistic expectations for
  pay and promotion

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Unrealistic expectations
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Boomer Stereotypes

• Older workers are technically Illiterate and
  dont even try to keep up
• Older workers are slow to adapt to change
  weve always done it this way
• Older workers dont question authority
• Older workers are no fun work is too much a
  part of their identity
• Older workers hold prejudices

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There Are Differences!
We need to Embrace them!
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The Message to Y Will it Achieve the Desired
Result?
If you dont wear hearing protection you could
lose your hearing by age 60 !
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The Message to Y Will it Achieve the Desired
Result?
Take a lesson from John. He always obeys safety
rules and has worked here thirty years without a
lost time accident
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The Message to Y Will it Achieve the Desired
Result?
If we beat last years safety record management
has promised some extra matching funds for the
401K plan
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The Message to Y Will it Achieve the Desired
Result?
Compliance with our lockout and tagout program
is an absolute OSHA requirement
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The Message to Y Will it Achieve the Desired
Result?
Violating safety rules might hurt your chances
for promotion
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The Message to Y Will it Achieve the Desired
Result?
Violating safety rules lets the whole team
down
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Crafting the Message to Y
OK Wise Guy, what should I tell these young
folks?
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Attracting and Retaining the Generations

• The Boomers
• Opportunities to Coach and Mentor
• Opportunities to Contribute
• Phased Retirement Options
• Increased Flexibility (e.g. Job Sharing or
  Telecommuting)
• Value experience
• Respect

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Attracting and Retaining the Generations

• Generation X
• Company Culture
• Meaningful Role
• Feedback Opportunities
• Competent Leaders
• Recognition for Results
• Work / Life Balance

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Essential Point

• For a generation that believed that paying ones
  dues was an essential part of climbing the
  career ladder, ineffective managers could be
  considered part of the dues
• In todays culture of free agency, the price to
  your firm of tolerating ineffective managers is
  high turnover

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Attracting and Retaining the Generations

• Generation Y
• Clear Career Paths - Rotation options
• Resolve Conflicts Early
• Meaningful Role
• Color/Gender Blind
• Training and Education
• Use of Technology
• Constant Feedback

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Recognition is Key
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Recognition is Key
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Recognition is Key
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Beyond the Boomers

• Knowledge Transfer
• Training and Mentoring
• Workplace Adjustment
• Phased Retirement
• Special Project Work

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Thanks for Your Kind Attention (At least those
of you over Forty)