4 Important Questions You Should Be Asking & the 4 Actions They Will Make You Take to Win the Millennial Race!

“The art and science of asking questions is the source of all knowledge.”

– Thomas Berger

 

The only way to get powerful answers is by asking powerful questions. Deloitte released a brilliant and insightful report about 10 questions you should be asking. We’ve taken 4 of these 10 key questions and shifted the focus on how they relate to your millennial workforce.

1.) What risks are my biases creating?

Every action we take is in accordance with our belief system. The beliefs we hold are much more powerful than we realize. They can cage us in or empower us; they can hold us back or push us forward. If you are biased by the myths that millennials are entitled, lazy, and selfish, could that be affecting your business? Considering that millennials are 60% of the world’s population (and that number is growing fast), this could adversely affect your operations, your relationship with millennial employees and your strategy moving forward.

The Deloitte report reveals, “during periods of great change, at the very moment rationality is needed most, the impulse to act without reason kicks in.” To act impulsively and think from a victim mindset is the easy thing to do. “My millennials don’t work hard. They don’t care at all.” But what if you take a different approach, taking responsibility for your workforce and finding ways to empower and engage them? Seek advice from people in your organization who you can trust, especially millennials themselves. Ask people outside your organization what they think. This will help remove any biases that may be holding your business back from excelling.

ACTION: Ask the Millennial and Manager so you can bridge the gap!

2.) Am I acting decisively when I see change around the corner?

The world is changing, and fast. Technology is altering the way we do business and will continue to do so over the next decade. If you don’t grab innovation by the horns and adapt to current and future trends, you will be left by the wayside. It’s evident that company culture, business ethics, virtual opportunity, and generational gaps are among us. But, as stated elegantly in the Deloitte report, “The problem is not just seeing around the corner. It’s also deciding when to take arms, and then taking them confidently.”

Boom. It’s one thing to notice a problem (or opportunity, depending on how you see it.) It’s another thing to take initiative and act. Three out of four companies do not have a plan in place to adjust to the millennial shift in both the workforce and economy. Great leaders make changes before the changes overcome them. Make sure your organization is equipped and prepared for the rise of millennials.

ACTION: Get a friggin plan together now, appoint a committee, DO SOMETHING TODAY!

3.) What’s your reputation worth, and who owns it?

Reputation is everything. It’s worth more than just dollars, and is measured in a variety of currencies like attention, trust and loyalty. Reputation defines the heart of your business. It reveals what you represent and how you fulfill the promises and expectations of your customers and employees.

We agree with the Deloitte report, which encourages a brand reputation program to help enhance, progress and preserve your reputation and business. “That program should engage employees as corporate ambassadors, constantly look for gaps in what is promised vs. what is delivered, and invest in systems to monitor and track external feedback across stakeholders.” What are you promising your millennial employees? A Deloitte Millennial survey revealed that 44% of millennials rejected a job offer because the company values didn’t match their own.[1] Is your company delivering on its moral values? Make sure you are transparent about who you are and what you stand for.

ACTION: Develop your brand story clearly, create it, be it, live it, live it with relevance. Don’t look back. Be your brand and millennials will make your brand relevant!

4.) Who digs in and challenges the assumptions in my strategy?

Having a devil’s advocate is essential for challenging assumptions, eliminating biases, surfacing blind spots, offering new perspectives and building a resilient strategy. As the old adage says, “If it doesn’t challenge you, it doesn’t change you.” Assumptions can be wrong. By openly discussing strategy and encouraging a devil’s advocate to challenge strategy, you can remove possible flaws and weaknesses as well as adopt new ideas to strengthen your game plan.

The great part about having a diverse workforce is that every person has a unique set of experiences. Therefore, each individual may see a problem or opportunity that only they can see due to his or her perspective. As Alan Alda said, “Begin challenging your own assumptions. Your assumptions are your windows on the world. Scrub them off every once in awhile, or the light won’t come in.”

ACTION: Push yourself now. Engage a millennial to push you and let them. You will be better, stronger and wiser, which will grow your business.

DO SOMETHING NOW: GO GROW YOURSELF!

Chasing Relevance by Dan Negroni

Interested in learning more about bridging the gap between millennials and managers? Here’s your chance! Grab your copy of  Chasing Relevance: 6 Steps to Understand, Engage and Maximize Next Generation Leaders in the Workplace.

 

[1] Yakowicz, Will. “Half of Millennials Would Reject a Work Assignment That Clashed With Their Ethics.” Inc.com. N.p., n.d. Web. 29 June 2016.

Stop Waiting and Start Acting! Bridge the Gap Today

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Seth Godin asked the age-old question in his recent blog post, “But where’s the money?” Oh and boy did it resonate with me. We are the company trying to impact lives by training and coaching relevance with the next generation client and employee. And we are sure that this connection, bridging the gap between youth and experience, is where the magic happens. Yet, companies constantly tell us they don’t have the budget to explore that magic, which will create disruptive results.

Now, we are sure that a disconnect between the generations exists – and that it is very, very big. We also know through client wins that the most unique and lucrative place is where youth and experience combine to create relevant and profitable businesses and solutions. Yet, why does everyone want to wait until they have more money to understand it and maximize their workplace? Seth said it best when he told this story:

“my colleague was talking to the CEO of a fast-growing small business about a partnership opportunity. The CEO said, “well, this is something we believe in, something we want to have happen,” and then he continued, “in fact, it’s something my partners and I want to be able to support in our personal and our corporate lives.” 

Btw, I hear that all day, everyday about people that want or need coaching to move forward, create growth and sales in their business, and to connect with millennial employees and clients. But then they decline just like Seth’s guy:

“he (they) declined, because, times are tough, the company is small, they need all their resources, etc.”

Seth, a brilliant wordsmith, suggests:

“If you aren’t willing to live your values now, when will you start?”

A company that begins with its priorities straight–about how it will keep promises, treat its workers, support causes it believes in–will rarely have trouble becoming the kind of company that does this at scale. But if you put it in a folder marked “later,” it may never happen.”

So, I say DO SOMETHING and make it happen! Do what you have wanted to do, because in the fastest paced world ever, you need to think about moving, disrupting and acting. And who is going to be there to help you or buy from you? Milllennials, a.k.a the next generation. Only 23% of companies have a plan in place to do that. The other 77% do nothing or continue to complain… but how about doing something? How about taking action to create something profitable and positive?

As Seth says:

“So yes, doing the thing that you believe in will get you better employees, better customers and more growth.”

Why? Because it is what you need to do to build your business. The alternative, putting it in a folder to wait for someone else to kick your butt and then try and shift, is not that effective. You don’t need me to tell you that.

Instead, don’t ignore the action you need to take to engage and connect with the next generation of clients and employees who are growing to 75% of the workforce by 2025 and 83 million strong today with $660 billion worth of retail spending power.

Start now with a plan to define your relevance and then go create it. NOW!

Our book get’s you started:

Chasing Relevance by Dan Negroni

Chasing Relevance: 6 Steps to Understand, Engage and Maximize Next-Generation Leaders in the Workplace

3 Ways to Fulfill and Retain Millennial Employees

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Often tagged “the job hopping generation,” it’s a common myth that millennials are disloyal and don’t care about job security. With this viewpoint, why put in the time to train and develop your millennial workforce when they’re going to split in a year or two? From this perspective, it’s pointless. However, by understanding the concerns of millennials and looking at reality through their lens, a few important factors stand out that shatter this myth.

49% of millennials say they would like to stay with an organization for more than 10 years, according to research performed by the Center for Creative Leadership.[1] Many millennials actually crave job security. They grew up during the 2008 recession, witnessing devastating layoffs. They have the highest levels of student debt in history. They’re worried about raising kids or putting down a mortgage due to the possibility of being laid off.

By understanding the concerns of millennials, this job hopping “problem” can be turned into an “opportunity” to engage and fulfill employees for the long run. Here are three ways to help you fulfill and retain millennial employees:

  1. Constantly Communicate and Provide Feedback

Millennials grew up in the digital age of instant gratification and constant connection. Therefore, they’re used to receiving immediate feedback and having an outlet to tweet their opinion at the snap of their fingers. By maintaining relationships with millennials through regularly asking questions and making an effort to understand things from their perspective, feedback becomes conversational, as opposed to being confrontational. This creates an environment where millennials feel that their voice matters and that their opinion is valued.

Another important factor to keep in mind is that millennials want feedback; the problem is they won’t ask for it. Show appreciation regularly. When they make mistakes, let them know in a constructive, teachable manner. By making the effort to make millennials feel understood, valued and an integral part of your company, they will feel more comfortable speaking up. This relationship fosters loyalty and will help fulfill and retain your millennial employees.

2.) Display Advancement Opportunities

Millennials are young. They’re hungry. They’re ambitious. As a manger, you can help them see opportunities to advance and be promoted within the company. Likewise, you can offer lateral growth opportunities, allowing them to become skilled in a variety of fields. This will help your company develop a multi talented, capable millennial workforce that understands how different departments operate. This will breed understanding and insight into how to serve the best interests of your company.

From a retention standpoint, opportunity for growth causes a shift in the mindsets of millennial employees. By openly presenting advancement opportunities, millennials will naturally view their job and career over the long term. A secure, rewarding job with the possibility of advancing and learning new skills is a sure way to create long-term retention with millennial employees. Recognizing the importance of job security and growth opportunity will help attract a stable, loyal workforce.

3.) Allow for Balance and Flexibility

Lack of flexibility was cited among the top reasons millennials quit their jobs, according to surveys performed by Ernst and Young’s Global Generation Research.[2] Millennials see that technology allows them to be productive and get work done regardless of location. However, many older bosses (who didn’t grow up with digital technology) don’t understand this. Multiple surveys show that what millennials want most is where, when and how they work.[3]

By creating a flexible work environment, you can fulfill one of the highest demands of millennials. As long as a flexible, work-life balance doesn’t affect results, it should be embraced. Millennials are more likely to commit to a company long term if it allows for a flexible work-life balance.

Don’t be put off by the myth that millennials are a job-hopping, disloyal bunch. You can view your millennial workforce as a “problem to complain about” or an “opportunity to be embraced.” Through communication and feedback, openly presenting advancement opportunities, and creating a flexible and balanced work schedule, you can fulfill the wants and needs of your millennial workforce, while also creating an atmosphere where they will want to work over a long period of time.

Interested in learning more about bridging the gap between millennials and managers? Make sure to get your hands on Dan Negroni’s new book,  Chasing Relevance: 6 Steps to Understand, Engage and Maximize Next Generation Leaders in the Workplace.

Chasing Relevance by Dan Negroni

 

[1] Deal, Jennifer. “Why the Conventional Wisdom About Job-Hopping Millennials Is Wrong.” WSJ. Dow Jones & Company, Inc., n.d. Web. 22 June 2016.

[2] Schulte, Brigid. “Millennials Want a Work-life Balance. Their Bosses Just Don’t Get Why.” Washington Post. The Washington Post, n.d. Web. 23 June 2016.

[3] Schulte, Brigid. “Millennials Want a Work-life Balance. Their Bosses Just Don’t Get Why.” Washington Post. The Washington Post, n.d. Web. 23 June 2016.

How to Help Millennials Succeed in the Workplace

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This is a guest post written by Arman Sadeghi of Titanium Success.

Millennials could make up close to 40% of the total workforce by the year 2020, according to the results of a research study conducted by the Association for Talent Development. Businesses are increasingly hiring this fresh source of talent and skills for their operations. However, companies often find that these young people have different methods of working with a distinct ideology from their predecessors. This factor changes the office dynamics completely.

Business owners need to help their millennial workforce assimilate into the company to make full use of their potential. To do this, they need to take several steps that can help reduce employee turnover. Here’s where a business coach comes in. Businesses often choose to hire such personnel to help them understand the strategies they need to adopt. These methods will help millennials succeed in the workplace.

Understand Their Expectations

A few years ago, employees were content to join a good company and work for an extended time, all the while steadily moving up the corporate ladder. Millennials, on the other hand, often have aspirations about wanting to become entrepreneurs. They would prefer to work in managerial positions of leadership. Considering the many young role models they have, millenials feel inspired to follow paths that can lead them to grow and succeed.

Many millennials do continue to work with enterprises for a long period of time, but only so long as their needs are met. If they feel they’re not getting enough opportunities, they’re very likely to move on to setups where other options are available. To work with such young people, you need to adjust the culture of your company. Work with your peak performance coach to create an atmosphere that is conducive to growth, while also being beneficial for your company.

Offer Them Better Orientation and Training

Schools and colleges do give students academic training. However, post-graduation, these students need practical skills that can help them perform in an actual workplace. These skills are often not taught in a traditional college environment. If you offer the proper training, millenials will learn the necessary skills to become independent, reliable and talented leaders in your company. Among the critical aptitudes they need is the ability to think and solve problems, work on and deliver presentations, analyze situations and adapt to the ever changing market. It is also essential to teach them time management, communication, effective listening skills, and most important, working as a part of the team.

Offer Flexible Work Hours

Millennials today have different priorities as compared to the employees before them. They prefer to maintain the perfect work-life balance and want to make time for leisure, entertainment, family, and friends. This is why they prefer jobs in companies where they are free to work at the times that suit them best. One of the pointers your peak performance coach is likely to give you is to allow for flexible working hours. Give your people the go-ahead to use digital technology and work remotely from home if they need to. You’ll also want to allow them to work on weekends and out of office hours if they want to. This way, you’ll encourage productivity and ensure employee satisfaction.

Ensure Manager-Employee Interaction

Young workers prefer flexible working hours and are tech savvy. They are comfortable using gadgets and apps to receive instructions, submit work and stay in touch with their teams. As your peak performance coach will likely point out, they also appreciate the opportunity to interact personally with their colleagues and managers. Institute an open-door policy as your company culture. Instruct your managers to welcome new and innovative ideas. Make sure your millennial workers receive constructive feedback on their performance and that they are allowed to communicate freely with their managers and superiors.

Offer Opportunities to Learn and Grow

Millennials are eager to learn and advance their skills. They are always looking for opportunities to excel by taking on challenging tasks. They thrive on the excitement of working on new assignments. If they see stagnation, they’re likely to move to setups where they can learn and grow. Offer your people training programs and adopt policies where your younger workforce can develop their talents.

For instance, consider the task rotation strategy. Your peak performance coach can show you how to move employees to other lateral positions in the company. Allow them to work in a new role for a preset time period so they can learn to manage other responsibilities and develop new skills. Assigning new projects is another way to challenge their creative abilities. Millennials respect and enjoy a work environment where they are pushed out of their comfort zone. Help them develop their flexibility and ingenuity to aid the success of your company. With that being said, make sure the new tasks aren’t so tough that it leads to discontent.

Work Out a Competitive Salary Structure

In today’s times where remote hiring has made great strides, the job market has gone global. Millennials now find that there is a demand for their talents and skills on an international scale. Hence, they are exposed to better opportunities and salary structures. To retain the skills you need for the growth of your enterprise, your peak performance coach will advise that you need to change your perspective about the remunerations you’re offering. The younger workforce is more focused on the salaries they can earn. You’ll also find that better positions and promotions are no longer enough to stay with a company. Remember, they can get those at other setups also. This is why you’ll need to pay competitive salaries to keep your employees.

These are just some of the factors you need to keep in mind when hiring and working with a team of millennial employees. Given that the work environment is evolving rapidly, it’s advantageous to have a peak performance coach on board to help you direct your team, and help millennials succeed in the workplace.

 

References:

  1. http://www.cio.com/article/2883906/careers-staffing/how-to-help-millennials-shine-in-the-workplace.html

 

 

Interested in learning more about bridging the gap between millennials and managers? Make sure to get your hands on Dan Negroni’s new book,  Chasing Relevance: 6 Steps to Understand, Engage and Maximize Next Generation Leaders in the Workplace.

ChasingRelevance_Home_book_cover_nobg

 

3 Reasons Samsung is the Most Trusted Company Among Millennials

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A recent poll by the Reputation Institute (RI) revealed that Samsung is the number 1 most trusted company among millennials in the United States. Considering that millenials consist of over 75 million people between the ages of 18 and 34, this is great news for Samsung. According to the results of this year’s RI millennial survey, when millenials decide a company is worthy of their trust and respect, they are more willing to work for, recommend and buy products from a firm they find reputable. What is Samsung doing so well that makes it the most trusted company among the largest growing generation in the world?

RI attributes Samsung’s ability to successfully gain the millenials’ trust and attention to three things: self-promotion on social media, commitment to social responsibility and creating an inclusive culture.

 

1.) Social Media Promotion and Campaigns

Social media is arguably the most important tool for a company to gain the trust of millenials. Over 90% of adults aged 18 to 29 use social media—and that number is growing rapidly.[1] The average millennial checks his or her smart phone 43 times a day.[2] Understanding these facts, it’s critical to establish a strong social media presence if a company or brand is looking to engage with millenials.

In today’s world, not having a social media presence is essentially not having any presence at all. Through self-promotion on social media, Samsung has established themselves as a familiar, trustworthy firm to millenials. This earned trust has provided Samsung the leverage to be the most favored company among millenials.

 

2.) Commitment to Social Responsibility

A poll commissioned by the Clinton Global Initiative and Microsoft revealed that millenials are more focused on the environment than their parent’s generation—a wide margin of 76% compared to a meager 24%.[3] In other words, millenials value environmental sustainability and appreciate efforts to make the world a better place.

 Samsung’s commitment to social responsibility is a huge factor in winning over millenials. Their transparency about their sustainability efforts and green initiatives are displayed openly on their website and on social media. For example, here is one of their statistics that exemplifies their effort to improve the environment: “In 2010, we will have reduced greenhouse gas emissions from our operations by 45% from 2001 levels.”

Samsung’s transparency reports and efforts to improve the environment resonate with people—and millenials—on an emotional level. This openness humanizes them as a company. Instead of being viewed as a large, corporate tech giant, they’ve effectively communicated that they are a “company who believes it’s our responsibility to do business in a way that enriches the planet.”

 

3.) Creating an Inclusive Culture

In today’s world, everyone wants to be heard. The rapid rise and prevalence of social media has created an environment where companies cannot afford to neglect their employees and customers. Having an inclusive culture is an essential part of Samsung’s strategy moving forward.

Samsung made headlines last month as they announced their “aim to reform our internal culture, execute as quickly as a startup company and push towards open communication and continuously innovate.”[4] Samsung executives will be signing a pledge to create a working atmosphere that fosters open dialogue. By adopting an inclusive culture, Samsung is yet again moving in the right direction in terms of understanding what millenials want. Through social media, millenials grew up with having a voice at a young age. Shifting to an atmosphere that embraces communication, Samsung is creating an environment both conducive and attractive to the largest growing generation in the world.

 

Embrace the strategies that have made Samsung the most trusted company among millenials and see what happens. Through social media, commitment to the environment and fostering an inclusive culture, you too can gain the trust of millenials.

 

 

[1] Pick, Tom. “47 Superb Social Media Marketing Stats and Facts.” Business 2 Community 47 Superb Social Media Marketing Stats and Facts Comments. N.p., n.d. Web. 14 June 2016.

[2] Clifford, Catherine. “Millennials Check Their Phones 43 Times a Day. This Is What They’re Looking For. (Infographic).” Entrepreneur. N.p., 04 June 2014. Web. 14 June 2016.

[3]Timm, Jance C. “Millenials: We Care About the Environment.” MSNBC. N.p., n.d. Web.

[4] Lee, Se Young. “World’s Biggest Startup? Samsung Electronics to Reform Corporate Culture.” Reuters. Thomson Reuters, 24 Mar. 2016. Web. 14 June 2016.