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  • drdianehamilton 5:49 am on February 14, 2017 Permalink | Reply
    Tags: Baby Boomers, Conflict, , , , , ,   

    Managing Millennials Requires Understanding Their Values 

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    Millennials are one of the most misunderstood generations, which has led to frustration in the workplace.  With so many generations working together, it is not unusual that there would be some conflict. The biggest issues have revolved around the clash between Boomers and Millennials.  With varying views on political and leadership issues, as well as differences in the frequency at which they embrace technology, conflict management has become a top concern for many leaders.  Part of learning to manage this unique generation includes understanding and embracing their values.

    The Forbes Mentor Week presentation, “The Future of the Workplace” focused on what will happen when Boomers finally retire, and Millennials take the wheel.  This presentation addressed some myths and facts about Millennials.  In addition to the information provided there, here are a few more Millennials statistics that may be surprising:

    • Millennials are now the largest living generation
    • Millennials make up more than 25% of the U.S. workforce
    • Nearly half of business to business researchers are Millennials
    • Millennials are among the strongest advocates of business
    • Millennials’ top issue that concerns them in business is education (including skills and training)
    • Millennials’ loyalty to employers remains low with many anticipating leaving jobs within 2-5 years
    • Although they embrace technology, 40% believe it poses a threat to their employment

    Millennials want to experience engagement at work.  For this group, engagement requires that they have a sense of belonging.  To meet this need, leaders must clearly share their vision, to obtain their cooperation.  Millennials must feel valued; therefore, it is critical that leaders show them respect and reward them for their efforts.  In research by Zemke, Rains, and Filipczak, the authors found that Millennials had nine more frequent requests. These included:

    • Help us learn
    • Believe in us
    • Tune on to our technology
    • Connect us
    • Let us make it our own
    • Tell us how we’re doing
    • Be approachable
    • Plug into our parents
    • Be someone we can believe in

    Part of being successfully in meeting their requests is to provide timely and detailed feedback.  Millennials like to receive feedback more frequently than past generations.  They like to meet privately and learn about their performance immediately after, with concrete observations.  They do not mind hearing they need to improve, but they will want to have specifics on how to accomplish that.  To ensure proper training occurs, managers should vary the way in which they present information. Millennials are avid learners and like to get their information through technology.  Allowing for workplace flexibility may be critical to Millennials staying with their employer.  Flexible working conditions are linked to improved productivity and engagement in this group.  By offering flexibility, employers have found that it has encouraged their sense of accountability.   By demonstrating to Millennials that leaders appreciate their values, they will have a better opportunity to lead this group in a way that meets their unique needs, leading to improved engagement and productivity.

    Please click on the following link to take a Generational Engagement Survey.

    About the Author:

    Dr. Diane Hamilton is a speaker, educator, and the co-author of It’s Not You, It’s Your Personality and award-winning speaker at DrDianeHamilton.com.  She is a former Editor in Chief at an online education site and has written for several sites including Investopedia.  Dr. Hamilton has spoken for top companies including Forbes about topics including leadership, engagement, emotional intelligence, and generational conflict.  If you would like to learn more about these issues, you can sign up here: Contact.

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  • drdianehamilton 6:58 am on March 19, 2013 Permalink | Reply
    Tags: , Baby Boomers, , Income tax, Payroll tax, , Social Security   

    How to Avoid Paying 85% Tax on Social Security 

    Tax

    Baby Boomers (those born between 1946 and 1964) have found out some hard lessons recently about how easily their retirement money can disappear.  One thing they may not have counted on is how much they may be taxed on Social Security benefits.

    According to the Social Security Administration Website, the guidelines for paying taxes on social security include:

    • file a federal tax return as an “individual” and your combined income* is
      • between $25,000 and $34,000, you may have to pay income tax on up to 50 percent of your benefits.
      • more than $34,000, up to 85 percent of your benefits may be taxable.
    • file a joint return, and you and your spouse have a combined income* that is
      • between $32,000 and $44,000, you may have to pay income tax on up to 50 percent of your benefits
      • more than $44,000, up to 85 percent of your benefits may be taxable.

    Many adults receive social security as their only form of income. If that is the case, there income level would be low enough that they would not have to pay taxes or even file a tax form.  See topic 423.

    For individuals who are lucky enough to have saved a few bucks for retirement, check out the following articles for help to avoid having to pay this high percentage:

    1. When Uncle Sam Wants His Money Back
    2. Avoiding the Social Security Tax Trap
    3. History of Taxation of Social Security
    4. AARP: Social Security and Taxes
    5. How Much Social Security Benefit May Be Taxed

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    • Leon Maiolo 7:14 am on March 19, 2013 Permalink | Reply

      Article #1 When Uncle Sam Wants His Money Back. ??? I thought it was our money. I remember seeing it withheld from my check every week.

  • drdianehamilton 1:12 pm on July 7, 2010 Permalink | Reply
    Tags: Baby Boomers, Boomers, , , , , Gen Y, Millenials, New Gen, , , , , Young Adult Ethics   

    Millenials, Gen X and Baby Boomers: Who… 

    Millenials, Gen X and Baby Boomers: Who’s Working at Your Company and What Do They Think About Ethics

    Released June 2010.  Sponsored by:
    Raytheon
    Northrop Grumman

    American workers between the ages of 18 and 29 – the “Millennials” – have more in common with older co-workers when it comes to workplace ethics than often thought, but they also hold to some values that set them apart from their Baby Boomer counterparts.  Download Research Brief.

    My daughter, Toni Rothpletz, and I just completed our book It’s Not You It’s Your Personality. In that book, we discuss how the newer generations (we call NewGens) differ in their personality profiles. Check out this interesting research about how different generations feel about ethics.

     
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