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Why Gen X Has the

Leaders We Need Now


Presented By: Tamara J. Erickson

FEBRUARY 18, 2010

ANGELIA HERRIN

ƒ Executive Director, Harvard Business


Publishing

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TAMARA J. ERICKSON

ƒ Widely respected expert on collaboration and


innovation - on building talent and enhancing
productivity - and on the nature of work in the
intelligent economy
ƒ Named one of the 50 most influential living
management thinkers in the world by Thinkers 50
ƒ McKinsey Award winning author
New

E... E...

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WHO WE ARE

Harvard Business School

MBA Program

Executive Education

Harvard Business
Publishing

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LEADING ACROSS THE AGES

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.

Why Gen X Has the


Leaders We Need Now
TAMARA J. ERICKSON

6 | © 2010 Tamara Erickson. All Rights Reserved. PAGE 6


FIRST PORTRAIT AND POPULAR NAME
IN NORTH AMERICA

A group of
“underemployed,
overeducated,
intensely private and
unpredictable” twenty-
somethings who have
“nowhere to direct
their anger, no one to
assuage their fears
and no culture to
replace their anomie.”

7 | © 2010 Tamara Erickson. All Rights Reserved. PAGE 7

A BIRTH RATE-BASED DEFINITION OF GEN X

4.5
Shifting Attitudes
and Experiences
4.0
The Years of Low Births:
1965‐1979
Birth in Millions

3.5

3.0

2.5

2.0
1930 1940 1950 1960 1970 1980 1990
Source: U.S. Census Bureau International Data Base

8 | © 2010 Tamara Erickson. All Rights Reserved. PAGE 8

A DEFINITION BASED ON
ATTITUDES AND EXPERIENCES

• Born:
– 1961 to 1979
• Teens Years:
– Late 70’s through early ‘90’s
• Today (2010):
– 31 to 49 years old

President Obama:
born in 1961

9 | © 2010 Tamara Erickson. All Rights Reserved. PAGE 9


FORMATIVE EVENTS

• Troubled economy
• Widespread lay‐offs from re‐engineering
• Watergate
• Olympic Boycott and the Berlin Wall
• Challenger disaster
• Electronic games and the Internet
• MTV, CNN
• Diversity, the ERA, Title IX, Geraldine Ferraro
• Rising divorce rates
• Women entering the workforce
• Friends

10 | © 2010 Tamara Erickson. All Rights Reserved. PAGE 10

A WEAK ECONOMY AND


DRAMATIC SHIFTS IN ADULT EMPLOYMENT
•1981 – Shifted common practice to “layoff” rather than furlough
•1991 – Created a significant contract workforce – the “free agent” nation

11 | © 2010 Tamara Erickson. All Rights Reserved. PAGE 11

FALLING STANDARDS OF ADULT BEHAVIOR

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SHIFTS IN THE WORLD ORDER

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MAJOR SCIENTIFIC MISTAKES

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FROM DUNGEONS AND DRAGONS . . .


TO THE INTERNET

Internet Usage Growth


1970 – 2006
Millions of Users

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DISTINCTIVE X’ER SENSIBILITIES

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GLOBAL AWARENESS AND SOCIAL ACTIVISM

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ETHNIC AND RACIAL DIVERSITY

Source: The New Employee/Employer Equation, The Concours Institute and Age Wave, 2004

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THE ERA, TITLE IX, GERALDINE FERRARO

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GROWTH IN DIVORCE RATES

U.S. Marriages Ending


in Divorce

Source: NCHS 2000


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THE ENTRY OF WOMEN INTO THE WORKFORCE

Percent of Women in the Workforce in the U.S.

Source: Bureau Of Labor Statistics

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LATCHKEY KIDS – AND FRIENDS

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GENERATION X: SHARED CHARACTERISTICS

• Self-Reliant
• Mistrustful of Institutions
• Rule-Morphing
• Tribal
• Information-Savvy
• Determined, Dedicated
Parents

23 | © 2010 Tamara Erickson. All Rights Reserved. PAGE 23

TAKING STOCK: GEN X TODAY

• Invested in education – highly credentialed and deeply in debt


• Queued up behind a generation of Boomers in a weak economy
• Bought homes at peak values
• Deeply committed to being excellent parents
• Uncommonly loyal to friends
• Unparalleled contributors to innovation
and humor
• Facing choices and challenges with long
life expectancies and many more years
ahead

24 | © 2010 Tamara Erickson. All Rights Reserved. PAGE 24


GEN X WOMEN IN THE WORKFORCE

Labor Force Participation Rate


Ages 25 to 35, by Gender
100%

80%

60% Men
Women
40%

20%

0
1962
1964
1966
1968
1970
1972
1974
1976
1978
1980
1982
1984
1986
1988
1990
1992
1994
1996
1998
2000
2002
2004
2006

Source: Emily Roussel, The Brookings Institution, analysis of CPS data

25 | © 2010 Tamara Erickson. All Rights Reserved. PAGE 25

X’ER MOMS: MORE LIKELY TO BE WORKING


OUTSIDE THE HOME THAN BOOMERS
Labor Force Participation for Women and
Men Aged 25 to 34 by the Presence of
Children

Source: “The Labor Force Experience of Women from ‘Generation X’,” Marisa DiNatale
and Stephanie Boraas, Monthly Labor Review, Bureau of Labor Statistics, 2002
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GAINS IN WOMEN’S INCOME

Source: Generation X: Americans Born 1965 to 1976, 5th Edition, The American Generations Series, by the
New Strategist Editors, New Strategist Publications, Inc., Ithaca, New York, 2006, page 114

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X’ERS: LOOSING NET WORTH

Householders Aged 35 to 44
Net Worth Between 2001 and 2004

Source: Generation X: Americans Born 1965 to 1976, 5th Edition, The American Generations Series, by the
New Strategist Editors, New Strategist Publications, Inc., Ithaca, New York, 2006, page 298
28 | © 2010 Tamara Erickson. All Rights Reserved. PAGE 28

X’ERS: HIGHER HOMEOWNERSHIP RATES


THAN BOOMERS

Source: U.S. Census Bureau

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X’ERS: HUMOR AND INNOVATION

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WHAT’S NEXT?

• Long life expectancy


• Moving milestones
• Arrested adulthood

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THE “SUDDEN” BOOM IN LIFE EXPECTANCY

Life Expectancy at Birth: 1000 ‐ 2000


Age

Source: U.S. Census Bureau, 2000


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X’ERS: MARRYING LATER IN LIFE

28
Median Age at First Marriage, 1950‐2006 27.1
26.8
27
26.1
26
25.5
24.7 25.1
25
23.9
24
22.8 23.2
22.8
23
22
22

20.8
21
20.3 20.3
20
1950 1960 1970 1980 1990 2000 2006

Men Women
Source: Current Population Survey, Table MS-2
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AMBIGUOUS SENSE OF “ADULT”

100%
Do you feel that you have reached adulthood?
80%

60%

40%

20%

0%

Yes No Yes and No


Source: Jeffrey Arnet, Emerging Adulthood, p.15
34 | © 2010 Tamara Erickson. All Rights Reserved. PAGE 34

WHAT DO MEMBERS OF GEN X VALUE?

• The ability to handle whatever comes along – to be self‐reliant


• Money‐ particularly to the extent it contributes to security and self‐reliance
• Being good parents – for those who have chosen to go that route
• Good friends – often representing bonds as strong as or stronger than family
• The ability to choose how you
spend your time – which for
many translates into the ability to
balance work and non‐work‐related
priorities

35 | © 2010 Tamara Erickson. All Rights Reserved. PAGE 35

PRACTICAL STEPS FOR GEN X’ERS


IN THE WORKPLACE
• Suit yourself – find your “Life Lure”
• Trade up – make the organization you work for work for you
• Branch out – look for work outside the conventional corporations

36 | © 2010 Tamara Erickson. All Rights Reserved. PAGE 36


SIX VALUES WORK PLAYS IN OUR LIVES

Work is about creating something with


1. Expressive Legacy lasting value
Work is about upward mobility – a
2. Secure Progress predictable, secure path to success
Work is an opportunity to be a valuable
3. Expertise and Team Victory part of a winning team
Work is an opportunity for challenge,
4. Risk with Reward change, learning and, maybe, wealth

Work is our livelihood but not currently a


5. Flexible Support priority in our lives
Work’s value is largely its near‐term
6. Low Obligation Income economic gain
Source: The New Employee/Employer Equation,
The Concours Group and Age Wave, 2004
37 | © 2010 Tamara Erickson. All Rights Reserved. PAGE 37

TRADE UP AND BRANCH OUT: TEN TIPS

• Play to your strengths. Focus for maximum advantage.


• Reinforce your “brand.” Choose outside experiences to reinforce your work interests.
• Create the context for success. Surround yourself with people you need.
• Raid the candy store. Ask for non‐salary things you value.
• Change the rules. Take the task you normally do one step further up the value chain.
• Influence the Boomers. Don’t ever assume Boomers understand your priorities.
• Influence the organization. Persuade who, and change what really matters.
• Take initiative. Make constructive suggestions and do the work required.
• Meet your commitments first. Never assume that taking on a new project excuses
falling short on your original objectives.
• Leverage your network. Explore alternatives, even as you make the most of where you
are today.

38 | © 2010 Tamara Erickson. All Rights Reserved. PAGE 38

CORPORATIONS: PRACTICAL STEPS FOR


ATTRACTING AND RETAINING X’ERS
• Design career paths that broaden their options, rather than narrowing them
• Give them choice and control over their career paths
• Leverage their entrepreneurial instincts – give them voice and influence
• Minimize moves that sever social connections
• Provide family‐friendly flexibility
• Create “on ramps” for those who have stepped off the track in their 30’s
• Invest in technology – and provide the time
required to incorporate it
• Develop the leadership skills required to
navigate the Boomer‐Y love fest

39 | © 2010 Tamara Erickson. All Rights Reserved. PAGE 39


REDESIGN INDIVIDUAL CAREER PATHS

From “Up or Out” To Multiple “Branching”


Narrowing Options

40 | © 2010 Tamara Erickson. All Rights Reserved. PAGE 40

GEN X: VALUABLE
CONTEMPORARY TRAITS AND PERSPECTIVES
•Accelerated contact with the real world . . . inclined to meet commitments and take employability
seriously
•Distrust of institutions and self‐reliance . . . strong survival skills and the ability to handle change
with resilience: a well‐nurtured portfolio of options and networks.
•A sense of alienation and preference of “alternative” . . . inclination to innovate, to look for a
different way forward; outward‐facing
•Awareness of global issues and multiculturalism . . . a more unconscious acceptance of diversity
than any preceding generation and the ability to welcome the contributions of diverse individuals
•Skepticism and ability to isolate practical truths . . . rich humor and incisive perspective
•Childhood experiences . . . fiercely dedicated to being good parents, raising important questions
about balance beyond the corporation
•Pragmatism . . . a practical and value‐oriented sensibilities, and the ability to serve as effective
stewards of both today’s organizations and tomorrow’s world.
The most difficult elements of X’ers’ past may well be those that
provide the strongest capabilities for today
PAGE 41

FIVE ROLES OF A NEXT GENERATION LEADER

• Increase collaborative capacity


• Ask compelling questions
• Embrace complexity and seek disruptive information
• Shape identity
• Appreciate diversity

Message to Generation X:
Use your influence to create organizations that are humane and worthy
Work in places that you respect and feel good about, doing work that you care about
Acknowledge the complexity and legitimate diversity of views
and yet find constructive paths forward.
Take heart and find both hope and satisfaction in the challenges ahead

42 | © 2010 Tamara Erickson. All Rights Reserved. PAGE 42


Q&A…………………THANK YOU!

To learn more about Leading Across For more information . . .


the Ages, the interactive course from
Harvard Business Publishing, or to terickson@ngenera.com
receive a demo please contact: “Across the Ages” at
http://discussionleader.hbsp.com/erickson/
Barrett Coakley
Harvard Business Publishing “Ask Tammy” at www.tammyerickson.com
bcoakley@harvardbusiness.org
www.harvardbusiness.org/corporate

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RESOURCES FOR FURTHER READING


“It’s Time to Retire Retirement,” Harvard Business Review, March 2004
Winner of the 2004 McKinsey Award

“Managing Middlescence,” Harvard Business Review, March 2006 E..


Workforce Crisis: How to Beat the Coming Shortage of Skills and Talent
by Dychtwald, Erickson, and Morison, Harvard Business School Press, 2006
"What It Means to Work Here" Harvard Business Review, March 2007
“Bridging Faultlines In Diverse Teams” MIT Sloan Management Review, Summer 2007
E...
“Eight Ways to Build Collaborative Teams” Harvard Business Review, November 2007
“Breakthrough Ideas for 2008: Task, Not Time,” Harvard Business Review, February 2008
Retire Retirement: Career Strategies for the Boomer Generation,
Harvard Business School Press, 2008
Plugged In: The Generation Y Guide to Thriving at Work, Harvard Business Press, 2008
“Unconventional Wisdom in a Downturn: “Give Me the Ball!” Is the Wrong Call in a
Downturn, ” Harvard Business Review, November 2008
“Gen Y in the Workforce,” (Case Study), Harvard Business Review, February 2009
What’s Next, Gen X? Keeping Up, Moving Ahead, and Getting the Career You Want, Harvard Business
Press, 2010
My blog: http://discussionleader.hbsp.com/erickson/
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THANK YOU

© 2010 Harvard Business School Publishing. Harvard Business Publishing is an affiliate of Harvard Business School. All rights reserved.

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