This is a guest post by Matt Cohen, Associate Marketing Manager at ResMed and President of the Cal Poly Alumni San Diego Chapter. Learn more about Matt by connecting with him on LinkedIn here linkedin.com/in/mattsbcohen

 

From time to time, I like to ask myself the following question to check in on the way I’m living. The question is, “If everyone in the world were exactly like you, what would be better and what would be worse?” I could write an entire other article on what would be worse, as any honestly introspective person probably could, but I’d like to focus on one thing I do well for this article: connecting.

In the age of social media, we are more connected than ever. LinkedIn is a great example of this. Never in history has one’s entire professional network, as well as everyone your network knows, been one click away. The value of this unprecedented connection and access to one another is indisputable, evidenced by my ability to have this article read by people all over the world, but so too is the downside. We have become addicted to likes, shares, and comments because we feel it provides validation for who we are as people. In fact, research has shown that getting this perceived social validation online results in a similar release of dopamine to that of a positive in-person interaction. However, to put it simply, this is our mind playing tricks on us.

That’s right- I’m a millennial and I am saying that there is no substitution for face-to-face interaction. I know that may be hard to believe for those of you from previous generations, but I suspect that more of my generation feels that way than you may think. We are hardwired as humans, regardless of age, to crave social interaction and we know deep down that there is no substitute for the connections we make while in the same room. Just think of how much easier it is to develop trust in someone with whom you can shake hands or share a meal. Then consider that trust is the currency of opportunity and, without it, it is nearly impossible to develop the meaningful relationships we rely on to accomplish our goals in life.

I know firsthand how easy it is to fall back on online relationships. Even as a self-proclaimed extrovert and adept connector, there have been times when I have not known what to say to someone I see across the room and settle for the less stressful path of messaging them afterward behind the safety of my screen. Unless that message ultimately results in a meeting, though, I regret it. There’s no way our online conversation will carry the same quality it could have if I just mustered the courage to say hello.

So, what do we do with all of this in mind? You should certainly not do away with your social media accounts. Embrace the potential that exists in instant global communication, both personally and professionally. You should also keep in mind, however, that it should not be used as a substitute, but rather as a complement to physical interaction. I live across the country from my family and have for several years, so I am acutely aware that you can’t always arrange a coffee meeting, even with those you love. Next time you want to engage a local friend, co-worker, professional connection, or someone you may see across the room, I would challenge you to step outside your comfort zone. Genuine connection comes from genuine conversation. Look them in the eye, learn their name, shake their hand, and listen to what they say. Feeling advanced? Try listening to the other person without thinking about your reply. I know it’s not always easy, but you will get better the more you force yourself to do it and it will pay huge dividends.

“You will be the same person in five years as you are today except for the people you meet and the books you read.” – Charlie Jones

Author Charlie Jones said, “You will be the same person in five years as you are today, except for the people you meet and the books you read.” Unfortunately, neither of these staples of personal growth and development happen like they used to, but that can change. Self-control is the only control we really have, so that change has to start with you. It won’t be as easy as posting a status, but I promise you it will be infinitely more fulfilling.

Blog post originally posted here: https://www.linkedin.com/pulse/age-social-media-real-connection-has-changed-matt-cohen-mba

Matt Cohen Guest blogs for launchboxMatt Cohen, MBA | LinkedIn
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The days of stock tips on the golf course and ringing up brokers on the phone are long gone.

In the digital age, Millennials are swiping through apps and checking their digital devices not only for tips, but also for making actual investments. Growing up in the midst of the 2008 recession, millennials were wary of diving straight into investments. However, the rise of apps and social media tools has made the learning curve and ease of investing much less intimidating.

Robinhood, the almost free stock trading app, is incredibly popular among millennials. The app, which allows you to invest in publicly traded companies and exchange-traded funds listed on U.S. exchanges without paying a commission, gained a lot of attention recently due to Snap’s (parent company of Snapchat) recent IPO. Snap sold shares at $17 a piece in its IPO on March 1. The next day, on the first day of trading on the New York Stock Exchange, the stock shot as high as $26.05.Trading activity on Robinhood skyrocketed by 50% on the day of Snap’s debut, with more than 40% of those who traded that day buying Snap shares. The median age of Snap shareholders on the platform? Just twenty-six years of age, the same age as Snap Chief Executive Evan Spiegel.

Millennials, who grew up with and love the instant, impermanent version of communication, are hungry for shares in one of their favorite apps, Snapchat. With over 158 million users (many being millennials) companies should start taking note of how millennials are investing in companies they admire, like Snapchat.

A recent Reuters article, featuring interviews with various millennials, revealed that for some millennial investors, loyalty is more important than financial details. The case of Snapchat is the perfect example.

Technology has bridged the gap, allowing millennials to feel more comfortable and intrigued by investing. A report in the Wall Street Journal revealed that over 30% of millennials surveyed say they are more loyal to brands that are relevant in terms of technology. Millennials can see through the BS of inauthenticity. They appreciate brands that stand for something, are up-to-date with technology, and show transparency.

How can your company brand itself so millennials not only want to work for your company, but also buy from it? Looking at the success of how Snapchat has swayed millennials and gained their trust, your business can emulate the following strategies.

Be Relevant

Millennials love Snapchat for many reasons: it’s familiar, it’s easy to use, and it’s relevant to how they communicate in 2017. Millennials have enormous faith in investing in Snapchat because of its prevalence in their every day life. A 29 year old HR consultant and investor in Snapchat explained, “There are a lot of companies I don’t know or recognize, but Snap, I use the product, and know everyone – my friends, my co-workers, even my parents – uses it.”[1]

Millennials have two paradigms, both equally as real: online and offline. Is your company prevalent in both worlds? If not, how can you find ways to increase your prevalence, and gain trust among millennials? Millennials spend three hours per day on their phones.[2] Today more than ever, companies must have a strong presence online (a.k.a social media.)

Shelby Seyrafi, manageing director at FBN Securities, reveals that “One of the non-fundamental reasons driving the stock is that many millennials purchased Snap shares at inflated levels due to their preference for the product. That is, not due to a real understanding of the number or valuation.”

How is your company seen from a millennial POV? Are you transparent and authentic in what you stand for, what you provide, and how you deliver? The Snapchat-millennial romance shows that you must deliver a great product or service that millennials appreciate. Speak and communicate in a way that they understand.

Communicate In Modern Times

Nontraditional work schedules are becoming more common as companies are embracing digital communication. The 24/7 constant communication is normal for millennials. As a millennial employer or vendor, understand that millennials aren’t “turned off” before 9 a.m. or after 5 p.m. Utilize different mediums of communication.

Within your organization, consider apps like Slack, WhatsApp, or Zoom for communication. These apps allow for instant group and individual communication, minus the bore and turn-off of email. Be frequent in your interaction and engagement. Give feedback often, and make it brief, yet meaningful. Provide detailed instructions when needed.

When communicating to millennials as a brand, speak in the language they can understand. Emphasize what your company stands for; be transparent in the social impact you’re creating; be clear about your company values; and show how you nurture passion. By being authentic and providing a great product or service, you build trust. As Snapchat has shown, millennials are more willing to invest in companies they frequently use and trust.

Takeaway on Millennial Investing Trends and How Your Company Can Benefit

Apps and social media continue to play a huge role in the lives of millennials—and that includes how they invest. Millennials are more willing to invest in (and purchase products/services from) companies they trust and use frequently. As a company, make sure the way you communicate is relevant to millennials. Within your organization, use short, meaningful, impermanent methods of communication. Communicating your brand to millennials, be authentic, have a strong online presence, and make it clear what you stand for.

Want to learn more about how your company can bridge the generational divide in the workplace? We can help with that. Also, check out our most recent launchbox article, “A Short Lesson In Coaching Millennials How to Ask The Right Questions.”

 

 

 

 

[1] http://fortune.com/2017/03/12/millennils-buy-snapchat-stock/

[2] http://www.tnsglobal.com/us/press-release/tns-millenials_study_111915

Is it possible to hire millennials who don’t “bounce” in less than a year?

Millennials are job-hoppers, and are more likely than any other generation to move from company to company. A Gallup report revealed that 1 in 5 millennials say they’ve changed jobs within the past year alone.[1]  However, is it just youth?  And, if it is what can we do?

As a hiring manager or leader in the workforce, this is concerning. Not to mention that the U.S. Department of Labor estimates the price of a bad hire to be 30% of the employees first year earnings.[2] So what’s the deal? Are millennials disloyal, uncommitted and unappreciative? Maybe some millennials, yes, but how will adopting that mentality help your business? That’s right, it won’t.

As a millennial expert who has worked with thousands of millennials and organizations like Qualcomm, Intuit and KPMG, a common concern we hear from managers is how to hire the right millennial employees so that they’ll stay. It is a valid fear, and a question we receive all the time. After all, the millennial turnover costs the U.S economy over $30 billion annually.

So how do you know if a millennial will stay or leave? In some ways, it’s impossible to know. At launchbox, we shift the focus of the question: How do you hire millennials that stay? There are certain traits that, as a millennial coach, you should pay specific attention to during your hiring process. By using these three key attributes, you can weed out prospective millennial employees who will do more harm to your company than good, and thus retain the right millennials for your company.

1.) Use Your Own Millennials to Find the Right Millennials

The biggest challenge a manager faces is determining how to retain and engage millennials in the workplace. However, it starts with how you attract them. It starts with the millennial employees you have right now. There were probably a variety of factors involved that determined how your millennials wanted to work in your company: pay, company culture, benefits, work/life balance, social impact, opportunity for growth, etc. Engage with your current successful millennial employees and have them play a part in recruiting more millennial talent who will stay the course.

Like attracts like. Use your millennials to find the right millennials. Encourage your millennials to use referrals to find the right friends that will fit right into your company culture. This will accomplish two great goals: 1.) You will attract the same type of employees who are already doing an awesome job 2.) You will actively involve your current millennial employees in the hiring process, creating better engagement and involvement within your company and eventually culture.

2.) Be Smart: Ask Really Tough Questions Before They Start

If your current hiring process is a breeze, what kind of millennials do you think will end up working for you? In order to attract talented millennials who align with your culture and values, ask tough questions during hiring interviews and test the character and personality of your potential employees.

Create role-play scenarios that don’t have black and white answers. For example, frame a situation where an important presentation is due for the company on a Friday morning, yet Maroon 5 is performing Thursday night and “everyone is going.” Ask your millennial, “What would you do?” See how they manage their work/life balance. Maybe they find a way to balance both. Maybe they choose one, over the other. Either way, create a tough role-play situation where you can test the values, work ethic, and character of your potential millennial employees.

Ask them why they want the job. Other than expected answers (i.e. pay), do they have an intrinsic motivator for the job or in life? Do they have a passion, belief, or familial tie that overlaps with your company’s mission? Most will be pretty honest with you and if not, work harder at asking tough questions. Make an effort to get potential millennial hires to open up and reveal their true colors. Obviously it’s an interview, so they will be putting on the best version of themselves. Make an effort to really know them and test them.

3.) Be 100% Transparent

Does your company have freedom and flexibility options for employees? For example, can millennials work from home 1-2 days a week? Is attending weekly Wednesday meetings a non-negotiable? There are certain things you and your company will not tolerate. Let them know. If the millennial is turned off, great! You’re not avoiding future conflict and a quick turnover by weeding out someone who won’t fit the company culture. And likewise, be transparent about what your company does allow, that maybe other companies don’t. Whether it’s cool travel opportunities, yearly summits, internal innovation ideas, etc., let them know upfront.

 

By being 100% transparent, you will attract the right millennial employees who want to stay at your company. The more authentic you are in your hiring process, the more authentic the relationship will be with future employees. As a millennial coach, you set the tone. By representing your company’ authentic self and culture during the hiring process, you will be sure to attract and hire millennials that stay.

The cost of replacing a millennial employees range, typically from $15,000 – $20,000 and that is for a non-technical position.[3] Imagine what you could do with that money, investing it into the growth and improvement of your company, instead of having to constantly hire new employees. As a millennial guide and mentor, you have a secret weapon: your current, talented millennial employees, Use them for referrals to attract their friends. And when you begin interviews, ask the tough, uncomfortable questions. Test your millennials by putting them on the spot with role-play scenarios. Make them sweat a little and ask questions designed to gage their work ethic, internal drive to be at your company, values, and beliefs. Be 100% transparent about your company and culture, what you stand for, and what you will and will not tolerate. This way, you will weed out the wrong millennial candidates and attract the right fit for your company.

Just because millennials are dubbed as job-hoppers doesn’t mean that has to be the case for your company. You can hire the right millennials that stay. Be authentic, engage your current millennials to attract their friends, and ask tough questions

Looking to bridge the generational divide in the workplace and engage your millennials? Check out the recent Launchbox article, “Could Good-ole Fashioned Millennial Parenting Techniques Pave the New Way to Coach Millennial Employees?”

 

 

 

 

 

[1] http://www.gallup.com/businessjournal/191459/millennials-job-hopping-generation.aspx

[2] http://www.humanresourcesiq.com/hr-talent-aquisition/articles/what-s-the-real-cost-of-a-bad-hire

[3] https://www.entrepreneur.com/article/253605

The most recent viral millennial video that resonated with us on Facebook was from none other than the master, Simon Sinek, best selling author and motivational speaker. He amassed over 57 million views in a matter of days. The good news is Sinek succinctly describes and analyzes millennials in the workplace. Moreover, his rational for understanding them is a window into how they grew up and were parented with (some more often than not) “failed parenting strategies.”

What does he mean by “failed parenting strategies?”

Millennials’ parents birthed the term and enslaved a generation with “helicopter parents.” The parents of the millennial generation paid extremely close attention to their children’s lives and their problems, and still do. They micromanaged, told their millennials they were special, gave them trophies for participating, and believed and embedded the entitlement theme that their children deserved the best, simply for showing up. If you ask HR Professionals, 30% percent of them will admit to having some type of altercation with a millennial parent and I can tell you I get calls from over zealous parents daily.

This up-close-and-personal, hyper involved, do it for them, and never let them fail parenting style has largely resulted from both the economic cycle of our country combined with the rise and prevalence of technology. Cellphones and social media allowed parents to have instant contact with their kids 24/7…. And information, products, services, answers and solutions anywhere, anytime, with the click of a button and little effort has made us softer. The idea of parents constantly checking in on their children to ensure safety and security may sound like good parenting as well as having everything on demand and at the moment. The intention was pure, and technology amazing. However, it backfired in many ways.

Millennials, dubbed the “anxious generation,” feel a need for frequent and immediate feedback, and have difficulty coping with failure and disappointment and the wrong or hard answer. Why? Because technology has allowed their parents more often than not to solve any challenges at anytime. The strategy of parents of millennials was to “cure,” and now many millennials are grown up, yet still struggle to figure out how they can solve their own problems.

As a millennial coach, you can see this as a pain-in-the-ass dilemma, or an opportunity to be embraced. At launchbox, I’ve worked with thousands of millennials and see that they want, need to, and will excel and grow—they just need your mentorship—or a “new or better” level of real and authentic kickass parenting—to get them there. Not kick your ass, but kick-ass, in the “dang good we get this” way. More specifically, our success in training millennial employees really works both to serve the workplace by creating engagement, retention and revenue, and millennials at the same time by teaching them they are responsible and accountable for their career and job satisfaction. In the workplace, you can lead your millennial employees to performance and engagement with these simple techniques.

First Care Enough to Tell It to Millennials Like It Is

Sinek explains that millennials are struggling in the workplace because their parents “gave them medals for coming in last.” As a millennial coach, it’s up to you to set the tone of what’s expected and tolerated within your company and culture and why “last place” does not work for the organization. Further describe how the key to success is making it about others and teach them to figure out how to change their language, communication, and mindset to do so. (Hint: use their strengths, values and passions to guide them…they are innately smart and purpose driven.)

If your millennial workers are barely “showing up,” putting in minimal effort, and walking through the motions, will you let it slide under the table and tolerate it? Or, like a great parent, will you address the problem head on? The parents who raised strong, self-reliant millennials gave tough love, taught self-respect, integrity, and consequences, and also focused on “earning” as a course of conduct, are the ones you want to emulate. As a leader in the workplace, you must do the same.

Coach them in a caring way. Sit down with your millennial and be transparent. Explain where the pitfall occurred and why it happened. Emphasize that it’s up to the millennial to take responsibility for their work and actions. If they are confused, teach them to be resourceful and find a way to gain clarity. If you’re good at this, they will listen and shift. Guaranteed.

Create the Space for Failure—They Need it

Many helicopter parents were there to clean up the mess when millennials screwed up. As a result, many millennials don’t know how to handle failure. As a millennial mentor and leader, become the tough parent in the workplace and teach them how to fail and pick themselves up. The challenge is we don’t have the time or money to do this and we would rather do the work ourselves. The problem with that is millennials need and want to be taught and learn how to do things. It is the number one thing they want in the workplace, almost neck and neck with that authenticity thing from above.

Well here is the news, make the time and invest or they will leave you because you have not engaged them. 89% of millennials in the workplace feel engaged when they feel their boss cares. Do you care and can you demonstrate that to them?

So don’t BS your millennials and allow their mistakes and poor performance to slide under the radar. Be real with them and let them know when they fail. Be proactive, like a good parent, and empower them to create a solution so they can learn and do better in the future. By being clear that you’re there to help millennials grow and succeed, they will appreciate your tough love. They will see failure not as an “end all,” but as a learning experience and growth opportunity. They will see that your firmness is not because you’re mean, but because you care.

By empowering your millennials to take responsibility for their actions, they learn self reliance, coping skills, and the ability to problem solve. What parent wouldn’t want that for their children? And what leader in the workplace wouldn’t want that for their millennial employees, or for that matter, any employee? Right, Simon? Of course he would agree.

Focus on Patience and Satisfaction From Work

In his viral video, Sinek explains how social media has created a culture of instant gratification, where millennials have fostered a sense of entitlement and expectation.

“Social media has, however, created an incredibly impatient generation who want everything immediately. What’s more, millennials don’t stick at anything for long enough, according to Sinek, whether a job or a relationship.” – The Independent

This quote above explains why millennials may be  “job-hoppers.” They are impatient, because they expect instant success and satisfaction at work. When they don’t feel or get those things, they leave in hopes of getting it somewhere else. As a matter of fact we coach 3,000 millennial each year and they are super impatient…but teaching them how to communicate, what they have left to learn, and how to find out whether their boss cares usually results in them staying and not leaving their boss, at least for a year or so longer.

Acting as a coach for your millennial leaders, you can teach your millennials the importance of doing great work and finding fulfillment in the process. The classic adage “patience is a virtue” is one that many millennial kids have heard, but not really grasped.

Create incentives so your millennials can learn the importance of being patient. True satisfaction, as Sinek pointed out, stems from the process of doing long-term work, and doing it well with 100% effort. Like a great parent, create intrinsically motivating benchmarks for them so they can create self-motivation and feel their progress.

Be the Best Parent You Can Be

In today’s workplace, to be the best millennial coach requires treating millennials as if you are their parents. Yes, most of my clients say, “I don’t want to or shouldn’t have to be a parent at work, they’re not my kids, it’s too exhausting, and that is why they call it a job and they get paid, so tough.” Oh yeah, well what happens with that mindset? I’ll tell ya…nothing happens except a revolving door. Instead, shift the mindset to really care and be invested in their success and progress. Show tough love and be firm in your approach. The more clear you are about what you want out of your millennials, the more they will understood what’s required of them to become the best version of themselves.

Allocate responsibilities to your millennials and give them the opportunity to fail. Yes, you read that correctly. Allow them to fail. They need to learn how to cope with failure, develop self-esteem, and learn from their mistakes. As a millennial coach (and parent), this gives you the chance to empower them with the tools they need in the real world—to grow and become reliant.

Instill the importance of doing great work and teach your millennials patience. Explain that nothing worth having comes easy. Set goals along the way so they learn to enjoy the process, while growing simultaneously.

When you show up authentically for your millennials, they will show up for you and your company. The new way of coaching millennials is like great parenting. Are you up for the challenge? If you are we can help teach you.

Looking to bridge the generational divide in the workplace and engage your millennials? Check out the recent Launchbox article “4 Ways to Coach Millennials to Drive Results and Engagement.”