Why it is smart to encourage your millennial to become a salesperson or at least act like one

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Because they will “crush it” by learning the number one life work/skill: Relationship Building.

Hollywood’s depiction of the sales profession certainly hasn’t done salespeople any favors. Moreover, all of us are guilty of stereotypes.  Are you familiar with this one? Sales people are depicted as either magically gifted, manipulative or sleezy, shallow, pushy sheisters.  All give inaccurate depictions of the profession for young millennials.

Those stereotypes have seeped into our perception of the sales profession as a whole. Great salespeople spend their days driving in revenue to pay everyone’s salary while often being looked down upon or feeling less than. It is insane!  These sales people are usually the best relationship builders there are.  They learn to serve and provide value to others by invoking trust and protection for all of their clients.  They are the ultimate connectors and influencers.  Does this sound like a good thing or a bad thing to you?

To clear the air around sales and highlight the importance of sales as a profession, it is important to bust some of the common myths around sales and replace them with a healthy dose of reality.  Here are some of the worst myths about sales and then the reality of why these skills are sorely being overlooked by the education system, Universities, Colleges, Graduate Programs, and the Workplace.

Myth #1: Sales is… icky and inauthentic…

There is a stigma around sales that you don’t find being attached to other professions. We describe people who seem sleazy as being like a “used car salesmen.” We describe poorly executed sales tactics as ones that a “door-to-door salesman” would use. Even the word “sales” is seen as a dirty word, often replaced in org charts by euphemisms like “account managers” and “client advisors.” In reality, it’s crucial for businesses to develop, build relationships with, and close lifetime customers to be able to operate!

THE TRUTH:
Sales is critical to the lifeblood of every business. That should be a no brainer.

The difference in 2018 is that consumers are much more savvy and informed than they used to be. Those old, blunt, aggressive sales tactics of the old days simply don’t work anymore.  We need authenticity.

Sales today isn’t about tricking old ladies to buy shoddy vacuum cleaners.  All sales professionals have become the chief storytellers for their companies.  Their job isn’t to convince or trick people into purchasing their product.  Their job is to use their relationship powers of trust, dedication, and service to forge organic, genuine relationships with the types of people who could really benefit from their product or service.  That is about providing real value in a way that serves the audience.  Imagine that!  And it works!  I 100% guarantee it.

That distinction is important. Anyone can try to pressure and trick consumers into short-term sales numbers. But that approach to sales is so 1960. To be a truly effective salesperson in 2018 you are required to be a special and gifted person; one who can both connect with consumers and also build relationships and communities around their product or service.  More particularly, any professional, whether it’s a doctor, lawyer, accountant, consultant, server at a restaurant, or a clerk at a store, needs to be able to sell and build relationships with anyone.  The skill of relationship building and story-telling applies to anyone selling a service or a product.  We all are involved in acquiring customers or sales.  However, my thesis is that it’s not really “selling” that’s important, it’s that building relationships is.  How do we shift mindset to use relationship development skills for good and not the evil of the perceived used car sales person or ambulance chaser attorney. Relationship Based Selling

Those special few who can build relationships well are the masters of the universe (and their communities and businesses).  Not limited by age, gender, color, or religion these influencers or “sales people” are the most coveted by companies and entrepreneurs alike.

Myth #2: The Customers Come On Their Own

For some reason, sales or relationship development is misunderstood and many times is often seen as an afterthought.  In reality, getting folks to buy services or products from you is an art.

Business leaders sometimes seem to believe that either their services (themselves) or their product is so uniquely attractive that selling it will be the easy part. Their product is so great that as soon as consumers see it, they will come rushing to buy!  Recently at a workshop I was asked if it is different now than in the past and whether we can expect our phone to just ring and be an order taker.  Again, really?  Don’t you know the answer to that question?  Even Google has sales people.

THE TRUTH:
Consumers clambering for a new products and services rarely happens without an effective sales/relationship development team operating in the background.

The truth is, sales today is incredibly complicated because of the speed of the world, technology, and accessibility which creates real competition from anywhere.  For innovative products and services consumers need to understand why they need the product in the first place and then trust who and where they will get it from.  For less innovative products, there is likely already fierce competition and plenty of noise that needs to be cut through. And there have never been more people, products, and services in every market vying for consumer’s attention, all day long through just about every mode, right to your mobile device and all.

It is a unique person who has the storytelling ability mentioned in Myth #1, with the analytic and data-driven approach to crack the code of a complicated world. Those people are difficult to find. To land sales superstars, businesses must make a serious, but necessary, investment in teaching relationship building skills!

Companies that skimp on an investment in relationship building “sales” skills are dooming their business from the beginning.  You need to teach these skills to employees for customer engagement.  It works and it will be the most coveted skill of the new world operated mostly by software, technology and robots.  Relationship skills will set real leaders apart!

Myth #3: People Either Have Sales Skills Or They Don’t

Unlike other areas of business, business leaders seem to think people either have an innate ability to sell or they don’t. Depictions of the uniquely talented sales person who can work wonders with only a wink and a smile has penetrated deep into our culture.

Because of this, salespeople are often asked to drive in revenue without the proper tools and resources. If they succeed, they have the magic sales “it” factor. And if they fail? They just don’t have “it” to make it in sales.

THE TRUTH:
The truth is some of that is bull*&^%. It’s true that certain people may be more charismatic or extroverted than others and this can help them (though it can hurt them as much as help them). However, sales or relationship development is a skill that is acquired, crafted, and sharpened  through years of practice and experience. There is no magic here: people need the time, tools, and opportunities to hone their skills. Without that support (the support provided to other areas of the business), relationships will die out and sales will flounder. Without sales, so will the business.

Myth  #4:  Sales is Easy and for the Dumb Folks

When the top 10 lists are released predicting the best and signature careers of the future, they often name data analysts, engineers, developers, coders, technologists, and software geniuses. Nonetheless, as all this technology overwhelms us, it is clear that there will also be a huge need for great service businesses and professionals, as well managers and leaders for all these tech workers.  Nonetheless, why do we often think that the sales profession is for the non-technical folks that are not that smart?   You’ve heard the old saying someone who has a great personality, so they should probably go into sales, and usually it is not a compliment.  It translates to their not smart enough for all the other “technical or hard” stuff, but are good with people.

THE TRUTH:
My experience has demonstrated that the most successful people are great with people because, well, people are customers and people are employees. In fact, the best leaders understand how to build relationships at their core.  They understand their audience and how to create trust with the different aspects of stakeholders they encounter.  The reason being is people buy from, follow, marry, bond with, give to, create with, and spend time with people they like and trust.  Dale Carnegie said it in 1936, and he still remains correct. The more things change,  the more they stay the same.  In fact Josh Bersin’s predictions for 2018 will be a throwback to “soft skills” ruling the workplace and relationship building techniques being the number one area to improve engagement in the workplace.

In summary, the real deal truth is that the generations comprising those under 37, Digital Natives, Next Gen Leaders, Gen Z, Milillennials they will, no matter how described, understand this and execute it better than any generations yet.  They are smart, real, authentic, and bold enough to challenge and they will make America whole.  So what’s standing in the way of us learning how to sell/build relationships and learning that building relationships is the number one life/work skill to becoming a true card carrying salesperson?  You are.  So get out of your own way and learn how to build relationships and kick ass at sales.  At launchbox we are on mission to spread that gospel and teach those skills: knowing how to build relationships is the number one life/work skill to have and it also means you understand the Platinum Rule:  Treat others the way they want to be treated, because it ain’t about you, it’s about the value you provide to others and the impact you make happen.

We challenge the workplace to solve how to mentor, teach, and live their culture by that rule and make everyone proud of being a salesperson and any other position as long as they live focusing on building relationships..

Wake Up Law Firms! The Number One Perk Your Millennials Want is “Real” Mentoring

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Some  might refer to the law industry as “traditional.” I prefer the term “antiquated.”

Stringent  hierarchies, a focus on “paying dues,”  limited career paths, and the dangling of future rewards in return for years of unfulfilling grunt work are all staples of the legal industry; all are holdovers from a bygone error that included smoking in the office and Mad Man cocktail lunches.

And in response to these outdated industry practices, Millennials are choosing to take their talents elsewhere.

The fact that Millennials are leaving  the industry is not a head scratcher. Millennials have made it clear they want to feel valued at work. They want their work to be impactful and meaningful. And they  want to feel that they are growing and learning as professionals. And law firms miss the mark on all of those career characteristics.

Luckily, it doesn’t have to be this way. Progressive firms are using mentorship programs as powerful tools to re-engage their young talent,  increase Millennial job satisfaction, and increase their retention rates of young staff.

If your firm is feeling the Millennial woes, mentorship programs may be the solution you have been looking for.

The Science is In, Real Mentorship Programs Work

Mentorship. It isn’t flashy, it isn’t trendy,  and it isn’t very Instagramable.

But it is  the most sought after workplace perk for Millennials and law firms almost universally do not offer it.

Reflect on your own workplace for a second: how often do you have scheduled time for associates to work with, learn from, and be mentored by partners?

Likely, not often, if at all.

Forget about the clickbait headlines you have read about Millennials. The truth is Millennials crave interaction with senior staff. They are eager to learn. They want to feel they are directly contributing and playing an important role in the firm’s success. And they want to develop their professional skills.

Mentorship programs fulfill all of these needs. Firms that use mentorship and coaching programs find that their Millennials have “…better retention, increased job satisfaction, fewer mistakes, and more rapid acculturation…” when they participate in these programs.

These programs are known by many names — development Initiatives and advisor programs being two — and there are a variety of ways they can be structured. But they all aim to connect young talent with senior staff in a structured way that allows all generations to ask questions, transfer knowledge, and improve each other as professionals

So what do these programs look like in action? Below are a few ways firms are integrating mentorship in their workplace culture.

Traditional Mentoring

Traditional mentoring is essentially the apprenticeship model that has been used throughout human history.

Young talent at your firm is teamed up with senior staff to work on projects together and allow the mentee to see how work at higher levels is done.

Your young talent sees firsthand how a senior partner thinks and problem solves, they experience the daily challenges a partner faces, how partners grow the business, the way they deal with clients, and they work on projects that are more substantial than the ones an associate may be tasked to do on their own.

These programs are simple in theory, but execution can be challenging for those who have never created an effective mentorship program before. Busy schedules make it difficult for participants to stick with the program. Consistently tracking and measuring progress can be difficult without proper tools and procedures in place.  And without any way for the program to gain real traction, results often end up disappointing or nonexistent.

At launchbox, we know these challenges well, allowing us to design programs that specifically avoid these shortfalls from the start. Making sure both parties understand program expectations, setting aside formally scheduled times for the program, and helping to fully-integrate the program into the workplace culture have yielded powerful results for our clients.

Mentoring Networks

Mentoring networks are version 2.0 of traditional mentoring.

To create a mentorship network, you take the traditional 1-on-1 mentorship model and expand it to a diverse network of peers and mentors that a single associate can reach out to. An ecosystem is created that is integrated into the culture of the firm where associates have a network of contacts that they can contact for advice, support, and guidance.

Platforms like LinkedIn, Google Groups, and Slack have made these networks exponentially more powerful. Facilitated by program leaders, mentees can form important professional networks with senior partners across a single firm or industry at large, regardless of their physical locations and increasingly less dependent on time availability.

Studies show that adding additional mentors increases the benefits young talents reap from mentorship. With multiple mentors, mentees experience greater career satisfaction, higher retention rates, and far greater career prospects than those placed in a traditional mentorship model. They also receive more well-rounded mentorship, including both “psychosocial” and career support from multiple perspectives.

The problem for most firms is that executing these ecosystems is difficult.

Mentoring programs span an entire network of people, increasing their complexity and requiring full integration in your firm’s company culture.

At launchbox, we have seen the difficulties firms face that come to us with a mentoring network program they have implemented  on their own without the right infrastructure in place. The results are underwhelming.

But firms whose programs we have helped design and execute have seen the power programs like mentoring networks have not just for their young talent, but their senior staff as well.

Reverse Mentorship  Programs

Thanks in part to the constant headlines about Millennials being ill-prepared, self-entitled, and whiny, you wouldn’t think that a Millennial associate would have much to offer an experienced partner.

But they do. If partners are willing to listen.

Reverse mentorship programs flip the traditional model of mentorship on its head. Associates are given the opportunity to teach and mentor partners in the latest theories in law, cutting edge digital tools, and platforms to help improve client and staff experiences alike, and generally catch them up on the last 20 years.

And more often than not, partners enjoy these opportunities as much as their younger colleagues. They get a real kick out of connecting with younger talent in the firm and learning how younger generations approach their work.

To see the potential impact a reverse mentorship can have on a firm, look no further than Marin County Bar Association Barristers “Reverse Mentoring” program that was recently awarded an Affiliate Star of the Quarter. It is a perfect example of a program that was well thought out, structured, and executed.

Whether or not they want to admit it, law firms are at a fork in the road. Down one path, firms maintain the status quo and watch as young, energetic, highly educated talent continues to walk out of the door.

Firms need to join progressive industries like technology and begin to listen to the wants and needs of the younger generation.

The old way is easier, but leaves the future of the profession less certain. Embracing a new approach to mentorship takes thought and effort, but leaves hope for the industry to evolve and survive.

It is now up individual firms and industry leaders to decide which route to take.

Interested in implementing one of the programs mentioned above? Contact us at 858.314.9867 or info@launchbox365.com.

Defining Diversity as Millennials Do: Is Your HR Department Really Ready?

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Both your HR department and your Millennial staff will undoubtedly agree that diversity in the workplace is important for the well-being of individual staff and the company as a whole. But when each says diversity, are they both describing the same thing? Do they agree on what makes for a diverse  workplace?

After 25 years working with both Human Resource leaders and the last 10 with Millennials, I know they probably don’t share the same definition of diversity. And with 50% of the workforce currently made up of Millennials who directly connect diversity–as they define it– with their engagement at work, it is critical to the health of any organization that Human Resource leaders and Millennials are on the same page about what “diversity” means.

Rather than seeing diversity as something to merely tolerate, or tip toe around, Millennials are demonstrating that they believe that there are tangible benefits to proactively seeking out minorities and people of diverse backgrounds to share ideas and ensure everyone’s voices are heard equally.

But, it isn’t enough for Human Resource leaders to understand how Millennials define diversity. They also need to know how to implement the right strategies for promoting diversity effectively and in ways that Millennials will respond to favorably as we develop the workplace of the future.

For Millennials, Diversity is Not Limited to Race

For Baby Boomers, diversity largely refers to race or gender. or the last 30 years Boomers have supported efforts that promote workplace diversity and reduced racial discrimination. Those efforts have helped make big strides in the racial diversity of offices across most, but not all, industries.

Millennials are the most diverse generation and consider having friends and coworkers from different races as expected. As a result, Millennials have widened the net of those who are included in “diversity” initiatives. Racial diversity is still important, but they also want their workplace to be diverse in terms of socioeconomics, sexual orientation, life-experience, and even where their colleagues grew up.

For Millennials, a multiracial workplace is good, but if all their colleagues come from the same suburbs and ivy league schools, they will still see your workplace diversity as lacking.

When it comes to diversity, Millennials want to be proactive. This means they don’t just want racial barriers of success removed, they want to actively collaborate with people of diverse backgrounds and learn from colleagues with different life experiences other than their own.

And to do that, they expect far more proactive efforts of inclusion by their employers.

From Diversity, Inclusion, and Millennial Engagement

For Millennials, inclusion involves opportunities that positively highlight differences, allow for the sharing of ideas, and facilitate teamwork between different groups.

And the reward for Human Resource departments who can meet Millennial expectations about inclusion? A more equitable and ethical workplace of course, but also far higher rates of Millennial engagement.  And, the sad truth is that the opposite of engaging them is losing them.  If you are Amazon or Toyota, each with 340,000 employees, that is a MULTI-BILLION dollar problem annually.  Even if you have 10,000 employees Millennial Turnover is likely an $87M problem annually.   (See our blog on the Staggering Cost of Millennial Turnover)

Human Resource departments who meet Millennial standards for inclusion see a 20% increase in engagement compared to those that fall short. With low-engagement costing the US economy 350 billion dollars every year, Human Resource departments have plenty of reason to look critically at their workplace diversity and asking themselves if it is everything it could be.

How Human Resource Leaders Can Meet Millennial’s Expectations for Inclusion

Diversity is a tricky issue for human resource leaders to tackle. Even genuine efforts to help promote diversity and inclusion can sometimes backfire.

So, what can be done to effectively promote diversity and help all staff members feel a sense of inclusion in the organizations they work for?

In the prestigious Journal of Applied Psychology, Downey, van der Werff, Thomas and Plaut, the authors of the paper “The Role of Diversity Practices and Inclusion in Promoting Trust and Employee Engagement”— which looked at the connection between diversity and engagement in the healthcare industry— describe three strategies that not only help promote inclusion, but also result in greater trust between employees and employers:

  • Mentoring Programs that help “…reduce social exclusion…” in the workplace
  • Management training to reduce bias’ in hiring managers
  • Diversity staff and task forces that give inclusion efforts traction by tracking results, follow-up on current initiatives, and implementing new programs

At Launchbox365, we train Human Resource leaders and managers in these exact strategies to help them ensure they are meeting the inclusion expectations of their Millennials staff. Through our work, we have seen first hand the boosts in trust and engagement that can take place when strategies like these are implemented properly to help increase the diversity and openness of organizations.

The “M” Word (Millennial): Reverse Ageism at its worst…

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We know that making sweeping generalizations about any group of people being “lazy,” “unprofessional,” “unreliable,” or “narcissistic” is repugnant. Unless we are talking about the dreaded “M” word,  Millennials. Then, apparently, it’s okay.    

After years of having their generation smeared by Baby Boomers, Gen X, and the media, Millennials are perceived negatively as professionals at first glance.

Millennials often enter a workplace climate in which it is okay to make negative assumptions about the quality of work they can produce, the professionalism they will display, and their dedication to their job.

It is called Reverse Ageism and it presents a serious hurdle to young talent in your office no matter how capable they actually are.

And the problem is not cost-free. The impact of these negative stereotypes contributes to high turnover rates of Millennials, costing the US economy billions of dollars every year and negatively impact the productivity and culture of individual organizations.  For an organization with 50,000 employees, 40% of which are Millennials, this can be a billion dollar problem annually – billion with a B.

With generational tensions already high, it is important to understand the extent of the negative stereotyping of Millennial professionals and how you can help rid your workplace of Reverse Ageism.

The Problem of Reverse Ageism

Regular stereotyping of Millennial workers in pop culture and offices alike has led to socially acceptable age-discrimination against younger staff. According to a report titled  Discriminating Against Millennials in the Workplace Analysis on Age Discrimination Against Young Adults, Millennials face a perception in the workplace from older staff of being “entitled, hard to train, and uncommitted to their position of employment.”

And this perception has real ramifications for the young talent in your office.

In their paper Too Old or Too Young? The Impact of Perceived Age Discrimination, authors Ed Snape and Tom Redman cite a study which found that “being seen as untrustworthy and being given less responsibility were common” among undergraduate business students. And that is if they are hired at all; experts now cite a hesitancy in employers over hiring younger staff.

Even worse, this is happening at the beginning of Millennial’s careers, right when they need opportunities to learn, develop, and hone their professional skills the most. But too often they are never given those opportunities, forcing them to leave their employer —re-confirming the ‘job-hunting’ stereotype— and continuing the negative cycle at their next job.  

Reverse Ageism Is a Million Dollar Problem for Companies

Ageism isn’t just a bummer deal for Millennials. If you are a mid to large sized company, reverse ageism could potentially be costing you millions of dollars, your most productive employees, and ruining your company culture.

On average, Millennials stay in a role for 1.3 years, which Gallup estimates costs the U.S. economy $30.5 billion annually. That’s a ton of coin.

And money isn’t the only loss for companies. Recruitment costs, onboarding costs, loss of productivity from watching colleagues leave, and lower productivity of new hires all negatively affect a company, its culture and its bottom line. Not to mention these young staff that are leaving are often more productive than senior staff and almost universally less expensive to hire, hurting your bottom line even further.

These are real costs to your company, but they are fixable. They require thought, time, investment and a commitment to emphasizing the strengths of your Millennial staff and helping the five generations working together today to bridge the gaps between them and leverage their unique strengths.

Millennials Have Unique Gifts and Gaps

Unlike the other four generations in the workplace, Millennials have a unique set of talents and disadvantages: what they may lack in interpersonal skills they make up for in fast research through collaboration, for example.  They have real strengths as employees. It is certainly true that they may not have the industry knowledge of a 30-year veteran, but that doesn’t mean they can’t bring powerful value to your organization.

For one, while it may be true Millennials lack some essential professional skills, they are happier than any other generation to develop and hone their skills given the chance. Gallup found that 87% of Millennials believe “development is important in a job” and development opportunities regularly score higher than pay when Millennials rank the benefits of a job.

Millennials are also fantastic when it comes to problem solving using technology, are very strong collaborators, and are professionally curious. The point being, while they may not be walking into your office on the first day of work as perfectly polished professionals, they have the eagerness and desire to learn that should allow you to sculpt them into the exact type professional you think will thrive in your organization.

The catch is that they know when they are liked, wanted, respected and valued.

Investment really is the key. Employers who want to put a stop to both the generational tensions in their office and the high turnover rate of Millennials need to take the time to train the enterprise to bridge generational gaps. That process starts with providing Millennials with the training opportunities that develop their professional skills and make them feel that they are valued in the workplace and gives them a sense of progressing as professionals.

We suspect you might even be surprised by what they can do.  

How to Prepare Your Workplace to Attract Gen Z Talent

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Have you worked tirelessly to establish a workplace environment and policies perfectly tailored for attracting Millennial talent?

If so, great work! It’s time to do it again.  

Gen Z, a generation of 60 million young Americans born between 1996 and 2011, is now only a few years away from entering the workforce.

And if you assume Gen Z will be similar to Millennials with the hopes that your Millennial workplace will satisfy the Gen Z workforce, you may be sorely disappointed.

Here is what you need to know about Gen Z to prepare your workplace for their arrival and to avoid missing out on the wave of young talent they are sure to bring.

Who is Gen Z?

Born after 9/11, knowing nothing of the dark pre-social-media age, and raised in a recession while playing videogames with their unemployed Millennial siblings, Gen Zers are a distinct generation all their own.

Coming of age amidst the Great Recession and wars in the Middle East, their place in history has molded the traits that define Gen Z.  Traits which, as Alex Williams notes in the New York Times, more closely resemble the Baby Boomers than any other recent generation.

They are a generation that wants stability. They want to make an impact on the world. They value authenticity. They are socially accepting. And they also show signs of being fairly nice compared to other generations.

And that is all well and good. Many employers will be excited about welcoming any generation other than Millennials. But how do employers cater to this young and massive generation?

Loyalty and Stability are Critical For Attracting Gen Z

During the last 10 years, Millennials and employers have developed an unfortunate understanding: both see the other as replaceable, and neither expects any long-term loyalty from the other.

With Gen Z, employers may be able to bank on more long-term loyalty. As Jeremy Finch reports on FastCompany, “We found that while Gen Z like the idea of working for themselves, the majority are risk-averse, practical, and pragmatic” and that Gen Z is shying away from the flashiness of developing the next great app and instead “…are biased in favor of financial stability.”

They show their pragmatism through their desire to be trained and invested in by traditional employers. In fact, “84% of new grads expect to receive formal, on-the-job training.”  

The reward for employers willing to invest in Gen Z appears to be loyalty. According to members of Gen Z studied, “62% [saying] they expect to stay at their first job for at least three years,” a far cry from the job hopping Millennials.

This presents a big shift in how employers and employees relate to one another. If you are an employer who does not want to miss out on the talent coming from Gen Z’s, the message is clear: invest in them. Provide them the professional development opportunities they crave and in return for your investment you will receive the loyalty you may not have ever received from Millennials.

They Want You To Help Them Save the World

Gen Zers have made it clear to retailers during their teen years that if retailers want their money, they need to actively demonstrate social responsibility. Think Tom’s shoes or Warby Parker. These are socially conscious companies whose brands are closely tied with their effort to make the world a better place.

And when they hit the workforce, they are going to expect the same from employers.

Though still in college now, employers can expect job interviews with Gen Z to be peppered with questions about your company’s values, its efforts to support the local community, its CSR policy and what volunteer opportunities you offer your employees.

And employers damn well better have a genuine, authentic answer.

Because Gen Z doesn’t just talk the talk: 26% of Gen Zers are already volunteering and 76% are concerned with man’s impact on the planet. They have a genuine belief that they can change the world and they are going to expect their employers to help them in their mission to do so.

Flexibility and Openness for Employers is Big

Though Gen Z is more cautious and willing to succeed within “the system,” they will also be expecting the continuation of progressive workplace policies that emphasize multiculturalism, acceptance of all people, and work-life balance.

Employers need to keep in mind Gen Z’s historical context: they come on the heels of social changes that have seen a 400% increase in multiracial marriages, a 50% increase in multiracial youth, and less emphasis on gender roles. Gen Z has also grown up with a black president, legal gay marriage and the legalization of marijuana in several states.

What does all of this mean?  If employers want the loyalty that Gen Z potentially offers, they need to make sure that their workplace environments and policies reflect the world that Gen Z has been raised in. That includes everything from the obvious (equal pay for men and women) to more creative flexible schedules, telecommuting opportunities, and other work-life balance benefits.

The good news about adjusting your workplace for the incoming Gen Zers is that those adjustments will result in a better workplace environment overall. What workplace couldn’t benefit from more professional development opportunities for staff, starting social conscious and CSR initiatives or making workplace policies more in line with the times?

As I always like to remind people, each generation has its own quirks, but they are all share more similarities than they have differences. It is universal human nature to want to have a meaningful experience at work, have the opportunity to learn, and be accepted by their colleagues. It will be the employers who understand these foundational human values that will be able to evolve fast enough to harness the young talent that sits on the horizon.

 

How to Recognize Your Skills, Passions, and Values to Kick Ass in Work and Life

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In last week’s article, we talked about how to identify your strengths and lead with them. Leading with your strengths is the first part of the equation to providing maximum value to others. The second part of the equation involves your skills, passions, and values.

Strengths + (Skills + Passions + Values) = Value to Others

As opposed to strengths (which are natural attributes), a skill is something you have actually learned, honed your ability, and have experience doing that provides a benefit. Skills can be difficult to articulate because it’s not necessarily a natural strength, but something you’ve spent time and energy developing to the point where it is of value to someone or something. A great way to think about a skill is the question WIFT:

“What’s in it for them?”

When somebody asks you what skills you have, you want to respond in a way hat expressed the answer to the WIFT question. By doing so, you go beyond just thinking about yourself, and consider what tools you have and how they are valuable to others (your company, the marketplace, the world, etc.)

For example, when asked what skill someone has, a common response is that they are a “people person.” That answer is weak. It provides nothing about how that skill is of use or value to somebody else. A better way to articulate being a “people person” as a skill is to say “you connect with other human beings immediately, which leads to stronger teams and client relationships.” That is communicating your value. That is a skill. Again, instead of saying you are “punctual,” explain this skillset in terms of WIFT: “I am calm, reliable, and always available to offer support. I am the type of person who is up to speed on deadlines and meetings. I’ll never make you wait or stress, which will allow you to focus on the things that matter most and increase effectiveness and productivity.”

As a business, using the WIFT method to describe skills allows you to communicate clearly to your customers and clients, while also authentically aligning your personal skills to connect better with others and get results for your company.

Passions—They Matter

At launchbox, we don’t believe in hiding your passions and personal interests in the workplace. What defines you at work, defines you personally, and vice versa. The people who are disconnected from what lights them up and makes them hear sing (passions) are the ones who are unfulfilled, stuck, and/or disconnected from their work, organization, or life in general. Identifying and understanding your passions is important because in order to have a great career and be of maximum value, you must align your work with what drives you personally. By seeing where your passions and work/life are out of alignment, you can gain clarity on what you need to do to fix this, and therefore make the changes to increase your happiness and drive.

Often times, people say, “What if I don’t know what my passion is?” I encourage you to forget the word “passion.” Instead, ask yourself the following questions:

  • What are you curious about?
  • What makes your heart sing?
  • What makes you lose track of time?
  • What would you do if money was no object?

Answer each of these questions. These are your passions!

Values

Values are your real-deal-no-BS-what-you-are-made-of principles or standards of behavior. Here are some examples of my own personal values:

  • Empowering others to make a difference
  • Creating value for others and enabling their growth
  • Making meaningful connections

The best path toward shaving a great career is aligning you personal values with a company’s values. The best companies that stand the test of time are the ones that have a clear set of values they live and die by. For example, look at Zappos. They have their “Zappos Family Core Values,” which the company continuously uses to develop its culture, brand, and business strategies.

Zappos Family Core Values

  1.  Deliver WOW through service.
  2. Embrace and drive change.
  3. Create fun and a little weirdness.
  4. Be adventurous, creative, and open-minded.
  5. Pursue growth and learning.
  6. Build open and honest relationships with communication.
  7. Build a positive team and family spirit.
  8. Do more with less.
  9. Be passionate and determined.
  10. Be humble.

Don’t you just love these values? It makes you want to say “duh” when you read the list. Many of these values overlap with mine, and so many others, which have allowed me to have a great career. However, as great as the Zappos values are, you don’t want to adopt theirs. You want to look within yourself and think about what makes you and your company the best versions you can be. Those are your values.

Take the time to identify your values. Pay attention to what you personally care about—what drives you—and use them to express your business values. That’s how you articulate your real-deal-no-BS-what-you-are-made-of principles and standards of behavior. Now, you have the ultimate equation for providing value to others. Whether it be family, friends, bosses, colleagues, business partners, etc., it doesn’t matter…the equation works: Strengths + (Skills + Passions + Values) = Value to Others

Want to know more about how you can kick ass in work and life?

Know Your Strengths And Lead With Them

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“Everybody is a Genius. But If You Judge a Fish by Its Ability to Climb a Tree, It Will Live Its Whole Life Believing that It is Stupid.” – Albert Einstein

This classic quote from Einstein reveals an important lesson in both business and life: everybody has different strengths, and in order for all of us to perform our best and excel, we must recognize and utilize our strengths. Gary Vaynerchuk, serial entrepreneur and host of the Daily Vee on YouTube, is also known for his forthright comments on the importance of understanding strengths:

“Bet on your strengths and don’t give a fuck about your weaknesses. You have to understand your own personal DNA. Don’t do things because I do them or Steve Jobs or Mark Cuban tried it. You need to know your personal brand and stay true to it.”

At Launchbox, we tell all our clients: “In order to know how to build, sustain, and maintain great relationships, we must understand the strengths of ourselves and others and how to leverage them effectively. Focus on your strengths—not weaknesses!”

Ok, so you get it now: knowing your strengths is super important. But the reality is most people don’t stop and take a moment to identify their best strengths. Do you know yours? If so, take a moment and write down your top five strengths. There are great online assessments that can help you identify your strengths. (Gallup’s groundbreaking Clifton Strengthsfinder is one that I’ve used and highly recommend. Based on decades of research and experience, Strengthsfinder is an inexpensive yet highly evolved tool for helping people discover their unique combination of strengths.)

If you don’t feel like taking the online test, a great way to find out is to ask the five people closest to you. Text or call them and ask if they’ll tell you what your top five strengths are. Make sure to ask them individually, so they aren’t influenced by each other’s answers.

While my strengths have evolved over the years, when I recently took the Strengths finder assessment, these were my top strengths:

  1. Activator: I make things happen by turning thoughts into action.
  2. Communication: I find it easy to put thoughts into words and am a good conversationalist and presenter.
  3. Strategic: I create alternate ways to succeed and find relevant patterns and issues in any scenario.
  4. Significance: I want to be very important and recognized in the eyes of others as making a difference.
  5. Command: I have presence and want to take control and make decisions.

Once you understand your strengths, you can be conscious of them and make the choice to lead with them. This is how you kick ass. This is how you deliver value to yourself and others in a way that makes a real, quantifiable difference to everyone you interact with. Here are three questions you can ask yourself to leverage your strengths as much as possible:

  1. Where do I kick ass?
  2. I could kick more ass if . . .
  3. Where do I wish I kicked ass?

It’s important to get comfortable with your strengths so you are not going against your true nature. If you kick ass at filming and editing and love it, but you feel like you “should” be good at engineering because that’s what “everyone else is doing,” stop and do some self-reflection. Remember what Einstein said: “Everybody is a genius. But if you judge a fish by its ability to climb a tree, it will live its whole life believing that it is stupid.” You are more valuable to your peers, a company, and the marketplace doing video and editing. Why? Because you excel at it and enjoy doing it.

Naturally, people prosper in areas they enjoy (a.k.a their strengths.) Don’t judge yourself based on anyone else’s Instagram or Snapchat or what seems cool. If you are a fish, stick to swimming. If you are a squirrel, stick to climbing trees. Look within yourself, identify what you enjoy and excel at, and lead with those strengths. Not only will your peers benefit, but you will feel much more passionate and motivated about work you enjoy doing.

Curious to know more about discovering and leading from your strengths? Stay tuned for the next article in this series, geared to help you kick ass in work and life. In the meantime, you can check out Chasing Relevance: 6 Steps to Understand, Engage, and Maximize Next-Generation Leaders in the Workplace

Start Doing This to Benefit from Millennial Engagement

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Engagement. Engagement. Engagement.

It’s all the hype these days, especially with the workplace changing and remote working situations on the rise. And rightfully so.

A five-point increase in employee engagement is linked to a 3% growth in revenue, according to a recent report by Aon. The study also revealed that global employee engagement levels dropped for the first time in five years. This isn’t good for businesses. As engagement falls, so does financial performance.

This isn’t due to a lack of engagements surveys and information. We spend at least $1B a year on employee engagement surveys.[1] Yet accordingly to Forbes, most companies say they aren’t getting the value they want.  The Workplace Genome Project estimates that 40% of HR professionals rarely do anything meaningful with engagement data results. Why?

Because these studies don’t measure underlying, root causes. These studies measure symptoms and outcomes. So, while the data may be interesting, it gives no insight into where a problem should be addressed, or what to do about it. Engagement doesn’t necessarily mean employee satisfaction. However, by understanding your millennial employees and getting to know them, you can engage them in ways that lead to feeling satisfied in the workplace.

According to research by the Teleos Leadership Institute, employees want 3 things:

  1. A meaningful vision of the future
  2. A sense of purpose
  3. Great relationships

An effective system of monitoring employee engagement will measure all 3 of these components. There are a lot of different factors and data points that can be analyzed and dissected. You want to make sure you are measuring the ones that are relevant and have a direct relationship with your employee engagement. Gallup has what they call the Q12 to measure engagement which include the following questions:

  • I know what is expected of me at work.
  • At work, my opinions seem to count.
  • I have the materials and equipment I need to do my work right.
  • The mission or purpose of my company makes me feel my job is important.
  • At work, I have the opportunity to do what I do best every day.
  • My associates or fellow employees are committed to doing quality work.
  • In the last seven days, I have received recognition or praise for doing good work.
  • I have a best friend at work.
  • My supervisor, or someone at work, seems to care about me as a person.
  • In the last six months, someone at work has talked to me about my progress.
  • There is someone at work who encourages my development.
  • This last year, I have had opportunities at work to learn and grow.

Once you understand engagement levels, you can then work to improve them. The only way to do that is by understanding your millennials employees, and what specific strategies lead to better engagement. Here are some strategies that will improve millennial employee engagement.

Ask Tough Questions to Understand Your Millennials

While perks and benefits may appeal to millennials, by themselves they will not engage and keep them over a long period of time. From the day you interview your millennial employees and onward, be proactive. Ask them questions in order to understand what drives them personally. Why does this matter?

Knowing what motivates or demoralizes certain employees allows you to create an ideal workplace environment and keep an eye on your employees. You can be strategic in what tasks you give to who, how often you show appreciation, whether or not to give them tough love, and when give them more space. Some of your millennials may value flexible hours over pay, while others are more motivated by commission opportunities. You can increase engagement among your millennial employees by asking tough questions. Learn what drives them.

Some examples of questions to ask are:

  • What are you passionate about?
  • Do you prefer working in a structured, or more casual environment?
  • Where do you think you can add the most value?
  • What are your goals?

Provide Feedback on a Regular Basis

Performance management and senior leadership were the two weakest engagement points for companies in North America, according to Aon’s 2017 Trends in Global Employee Engagement. Focus on improving these “weak points” by improving your communication with millennial employees. Consider designing a system or schedule to ensure you are proactive in engaging with your millennials. A feedback strategy is a great way to stay updated with your millennials. By doing this, you can better recognize pain points and solve them, address certain needs, and more.

Leadership and management can be improved by providing consistent feedback to your millennials. A feedback strategy will make it 10 x easier. This isn’t to say you will only engage with them when your schedule says too. However, it will help you stay relevant and engaged in your relationships, which will therefore improve your leadership and management, which will improve engagement.

Data is useless if you don’t know what it means, or don’t know what to do with it. Understand that millennial engagement in the workplace is directly correlated with revenue growth. Make an effort to engage your millennials by measuring the aspects of engagement that matter most. Learn about what drives your millennials. Get to know them by asking tough questions. Communicate with them on a regular basis. Be strategic and create a feedback system to make sure you’re on top of it. By focusing on your millennial engagement, your company will benefit.

 

[1] http://www.workxo.com/blog/post/177-engagement-not-about-how-you-work

5 Quick Ways to Keep Millennials by Compensating Them the Way they want to be Compensated

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The workplace in 2017 is changing at lightning speed. Millennials play a huge role in the major shift that is happening. The way companies conduct business is drastically different than just a decade ago. Millennials, who currently make up half of the workplace, are estimated to be 75% of the working economy in the next eight years.

An eye-opening research study by HUB International called, The Essential Guide to Compensation and Performance Practices: The Millennial Influence, illustrates important findings about what drives this generation.

Why does this matter to you? And how does this affect your company?

If you want to stay relevant, profitable, and affect change, understanding how millennials perform and how they want to be compensated matters…a lot. After looking at the key findings, we highlighted the top 5 ways to compensate millennials based on the success and feedback we’ve received at Launchbox working with over 5,000 millennials. Here they are:

1. Have Competitive Base Pay

Compensation matters to all employees, regardless of age. However, traditional compensation programs don’t motivate millennials. 68% of millennials strongly agree that their company “pays for the value and results I being to the company.”

Millennials actually want to be paid based on the value they bring. A compensation plan that includes value-based increases, instead of annual merit increases, is much more appealing to millennials. 60% of millennials say competitive base pay is the #1 factor for staying with their employer. If your company is not creating value-based incentives and compensation based on individual performance, your millennials will leave.

During our strengths and stories workshops, we hyper focus on how millennials can understand their strengths, improve upon them, and then communicate their value effectively in in WIFTthem (“What’s in it for them?”) fashion, so their employer understands the value they provide. As a millennial coach or manager, make it clear how your millennials can add value to your company, articulate it well, and therefore be paid more as a result.

2. Make Work Interesting and Challenging

Millennials are hungry for growth and development. They value career advancement, learning, and like to be challenged. Millennials, unlike previous generations, don’t see the value in merely “grinding it out” for years, and then rising to the op. They want to see a clear path to the top, and be engaged, challenged, and interested along the way.

As a millennial coach, you can create interesting and challenging work for your employees by tapping into their “intreprenuer.” Almost two-thirds of millennials wish to start their own business. They are hungry to innovate, and this can be a huge asset to any organization. Provide the structure so that millennials can experiment with new ideas and create new solutions within the company. A culture that promotes a healthy balance of structure, freedom, and feedback is attractive to millennials.

Working with thousands of millennials, we’ve found huge success in helping millennials learn to communicate their desire to innovate and improve certain areas in their company. As a manager in the workplace, make sure your millennials are comfortable coming forward with new ideas and feedback. After all, these ideas are will help your company succeed!

3. Show them a clear path to career advancement

It’s not enough to just tell millennials to work hard now and wait for success later. They need to know and be shown the opportunities available to them if you want them to stay with your company. Almost half of the HUB survey respondents said they were likely to leave their job within the next six months. The cost of this turnover is insane, and takes a heavy toll on your company.

A value-based compensation plan that rewards individual performance is a great way to appeal to millennials. It shows that they matter, and lets them understand that the sky is the limit. The more value they bring and communicate, the more money they earn. Then they get more responsibility, and more opportunities come their way. What business leader wouldn’t be excited by this?

4. Show the Connection Between Personal Impact and Success

Your millennials could be helping millions of people and earning your company millions of dollars. But if they aren’t seeing the connection between their results and the success, they will leave. Social impact and personal development are important to millennials. When they don’t feel the connection between the work they’re doing and the results they’re achieving, they feel dissatisfied. They start looking for other jobs. They leave

The cost of this disconnect and lack of engagement costs a whopping $30.5 billion to the U.S. economy.

Over half of millennials rated understanding how their own personal job directly impacts the success of the company as “very important.” Make sure your millennials can see the direct impact they are having in your company. By engaging your millennial employees in entertaining, challenging, and interesting work, they will find the purpose and challenge they are seeking. As a millennial coach, it’s up to YOU to make sure this happens…and make sure they know it’s happening.

5. Be Transparent about Compensation, Performance, and Feedback

Traditional compensation, annual merit increases, job/grade bands, and equity adjustments are NOT cutting it in 2017. As a leader in the workforce, you must change the formula if you want to succeed, and make it 100% clear to your millennials that they will be rewarded based on the value they bring to the company.

By having a transparent compensation and performance program in place from the get-go, you eliminate any confusion. Millennials need feedback. And they expect it quickly and in real time, just how they operate outside of work with social media. As a millennial expert, make it your job to engage with them regularly. Annual reviews won’t cut it. By having a clear plan in place, they will understand how their actions are direct related to their results, both personally (pay) and as a whole (company impact and success.)

Without frequent communication, millennial engagement levels drop to the floor. Over two thirds of millennials rank feedback directly from their manager as most valuable. Engagement plummets to 20% for millennials who don’t have regular meetings with their managers. As a millennial coach, make sure you are continuously engaging with your millennials and improving your relationship with them. Millennials want feedback in real time, not a month later. The quicker you can give them feedback, the better. Be real with them and give it to them straight. They appreciate tough love, as long as you show that you care.

The ways of the past aren’t working to engage and retain millennials in 2017. If you want to stay relevant, attract the top talent, and keep your successful millennial workers, compensate them the way they want to be compensated. Have competitive base pay. Have a clear compensation and performance plan in place from day one so millennials know they’ll be rewarded based on the value they bring to the company. Keep them engaged in challenging, interesting work by tapping into their “intreprenuer” and creating the space for them to excel within your company. Show them the exciting career path that lies ahead. Allow them to see and feel the impact they are directly having on both the company and the world. Be real. Be authentic. Communicate openly and often with your millennials. This is how you WIN and create kickass results.

How to Hire Millennials That Stay

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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