TM - February 2008 - (Page 4)

[from the editor] by Mike Prokopeak F F T alkin’ ’Bout My Generation From a talent management perspective, the workforce has never been more diverse. It’s not uncommon to have four generations working side by side in today’s workplace, ranging from traditionalists born before 1946 to the postwar baby boomers and generations X and Y. While we’re hardwired to notice the differences, the reality is motivations and desires remain fairly consistent from generation to generation. Regardless of the year we were born, we all want to like the retirees and keeping soon-to-retire boomers actively engaged in the enterprise. We take a look at compensation and benefit strategies for generations X and Y and how to leverage generational differences to drive performance. We also turn a critical eye to identifying the next generation of leaders. As study after study shows, the success of the enterprise hinges upon the quality of its leadership. And with a shrinking pool of existing leaders, talent managers must turn their attention to identifying high potentials and preparing them to lead the enterprise. Generational diversity is only one defining characteristic of today’s workforce. In our learning and development feature, we broaden the lens and examine development strategies for today’s racially and ethnically diverse workforce. And finally, we’ll continue this vital conversation in person at our new industry event, Talent Management magazine’s Strategies 2008, slated for May 5-7 at the Camelback Inn by Marriott in Scottsdale, Ariz. This three-day event will bring together industry thought leaders and practitioners and address key issues facing today’s HR leaders, including managing the multigenerational workforce. The challenges facing today’s HR professionals are real, but with this issue of the magazine we hope to provide you with the key insight and strategy you need to take your organization into the future. What challenges do you face with the multigenerational workforce? Drop me a line at mikep@talentmgt.com. or good or bad, it’s human nature to notice our differences. First impressions matter, and the first time we meet someone, it’s often how they’re different from us that stands out. Based on one look, we make conscious and unconscious conclusions and judgments in a matter of moments. Listen to people talk about other generations, and you’ll hear similar judgments being made. People notice generational differences, and those Talent managers need a varied set of tools and techniques to manage the challenges arising from this increasingly diverse workforce. differences can grow into full-blown stereotypes. For example, if you accept a common perception about the next generation entering the workforce — generation Y, or the millennials — you might be led to believe they’d drop into a helpless, catatonic state if they suddenly lost access to their mobile phones, iPods or Facebook pages. Sure, there’s a kernel of truth in generational stereotypes, but we go a little far when we paint a whole generation with one broad brushstroke. After all, Bill Clinton and George W. Bush, opposites on the political spectrum, were born just a few short months apart in 1946, placing two very different people squarely in the same baby boom generation. Focusing on differences is bad when it leads to stereotyping or discrimination. But differences also can be valuable. They allow us to learn by comparing, contrasting and continually synthesizing new information. Diverse perspectives and opinions spark creative thinking and innovation by forcing us to modify our accepted views based on new realities. work we do, be fairly compensated for it and feel we are valued for the contribution we give. The differences lie in emphasis — in style rather than substance. But those differences, coupled with the retirement of the baby boomers and increased competition for talent, create real challenges for today’s talent managers. They need to attract and recruit talented millennials while also developing the leadership capability of generation X. With the expected wave of retirements that will come as baby boomers exit the workforce, creating an effective succession plan is more important than ever. Talent managers need a varied set of tools and techniques to manage the challenges arising from this increasingly diverse workforce. The issues are real and immediate, and there’s no one-size-fits-all policy. This month in Talent Management, we tackle the multigenerational challenge with a package of stories aimed at giving HR practitioners the critical advice and insight they need to manage the 21st-century workforce. We examine how to minimize the expected talent crunch by recruiting Mike Prokopeak Editorial Director mikep@TalentMgt.com February 2008 4 talent management magazine www.TalentMgt.com http://www.TalentMgt.com

Table of Contents Feed for the Digital Edition of TM - February 2008

Talent Management - February 2008 Editor's Letter - Talkin' 'Bout My Generation Contents Human Performance - Achievement Motivation: Top Talent At Any Age Leading Edge - Who's On First? Foundations - Managing the Next Generation Workforce Viewpoint - Talent Strategies That Work Are Talent Strategies That Stick Those Who Have Left: The Value of Building Employee Relationships Alternatives to 360s: The Manager's Role Compensation and Benefits For X&Y Build A Multigenerational Performance Management Strategy Development's Role in Creating A Culture Of Inclusion Tomorrow's Leader: Identifying the Next Generation Integrating Talent Management Systems Strategically Seagate Uses Yearlong Evaluations to Help Integrate Talent Efforts Western Union: Connecting Strategy and People Globally Advertisers' Index Editorial Resources Full Potential - The Best Time to Change? Right Now!

TM - February 2008

For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.