CAHRS Working Group Millennial Employees

Transcription

1 CAHRS Working Group Millennial Employees November 19, 2015 New York Attracting Millennials to the Workplace One of the broad topics that the group discussed was around how to attract Millennial talent to their organizations. Of particular concern for some companies was how to attract top technical talent who might be more likely to pursue employment at startup organizations or strongly branded technology companies. Other companies noted that they were concerned with how to attract talent to industries that are seen as less appealing to the Millennial generation. Participants shared a wide array of approaches for attracting Millennial talent. On November 19 th, 2015, Cornell s Center for Advanced Human Resource Studies (CAHRS) Director Chris Collins facilitated a Working Group (WG) session focused on attracting Millennials to the workplace. The working group was attended by 27 individuals from 19 CAHRS partner and guest companies. These included Accenture, Alexion, Ally Financial, Bristol Myers- Squibb, The Boeing Company, Boston Scientific, Boehringer Ingelheim, Bristol-Myers Squibb, Citigroup, Ericsson, The Estée Lauder Companies, IBM, JPMorgan Chase, Johnson & Johnson, MasterCard, Prudential, Stanley Black & Decker, TIAA-CREF, and the Cornell ILR School. 1. Build employee value proposition that resonates with Millennials. One key to attracting this generation is to develop a strong employer brand and develop an employee-value proposition that will resonate with Millennial talent. Several participants noted that it is critical to think through the aspects of your company culture and mission, critical aspects of the jobs and work environment, involvement in corporate social responsibility (CSR), location and work space, growth and development opportunities, etc., that are likely to resonate with Millennials. It is important to make sure that you build the employee value proposition on factors that are both attractive to Millennials and that you can deliver on a consistent basis. Given Millennials prevalent use of social media tools, failure to deliver on key aspects of the employee-value proposition will lead to disappointment and likelihood of negative feedback regarding the company on job-based social media forums. Authenticity and a focus on what truly differentiates your company in meaningful ways to this generation are important. It may be necessary to think through how this employee value proposition may potentially change across different types of roles and generations. 2. Communicate actual stories and people. Tied to the employee value proposition, several participants noted that they have had good success when developing stories or highlighting current employees. The focus is on highlighting Millennial employees and their current roles, journeys in the company, opportunities and experiences, etc. These stories and profiles can provide a realistic sense of what to expect and what the company has to offer and help potential recruits envision their own potential path in the company. 3. Update/modernize the work environment to fit with Millennials expectations. Quite a few participants noted that they have been working hard to change their work environment to fit with Millennials expectations of the workplace. For example, a number of companies noted that they have changed their workspace to have more open space that facilitates social interactions and conversations. Others noted that they are working on creating less formal work environments that also feel more inviting - for example, having less formal dress codes, fewer status symbols for senior leaders, changing space design. 4. Connecting to CSR activities. Several participants noted that they have increasingly connected recruits to company CSR initiatives. Some of the companies engage potential employees in CSR events directly as part of a recruitment effort while others just look to showcase CSR activities to recruits, particularly when CSR initiatives tie closely to the mission and values of the organization. 5. Connection to the broader mission and purpose of the organization. One way to help showcase and differentiate the company is to make clear connections to the mission and purpose of the organization. Several participants noted that they have had success in attracting the right fit by effectively communicating the broader

2 Page 2 mission of the organization as this provides a broader purpose that candidates might get behind and support. Participants noted that this is particularly powerful when the mission/purpose of the organizations connects to the individual s purpose in life. Companies can better attract Millennials if the organization helps prospects see how aspects of the job and company mission might connect well with their own individual goals and purpose. 6. Use of technology to communicate messages and match potential applicants to roles. Many companies are using apps or tools to help match individual strengths to roles and assignments. The content is slimmed down to make it more relevant and user friendly 7. Events and activities to showcase the work, products, or key attributes of the organization. Participants identified several different ways to build awareness and interest in their organizations as potential employers both on- and off-campus and with target audiences that might not otherwise have considered them for employment. The keys to each of these activities is to make the events more about the chance for the recruits to learn something new, participate in an engaging event that exposes participants to the culture, history, mission, use of technology, social experience, etc., that could differentiate the company as an employer. a. On-campus events and activities. Several participants noted that they have increasingly engaged students on campus in case studies, ongoing projects, live idea generation events, group studies, or other events where the students participate in action learning or assignments that help them to experience the role, company environment, culture and to more deeply experience the organization. b. Changing the format of recruiting events. One potential way to increase interest in the company and keep job seekers attention is to change the format of standard recruiting events (e.g., information sessions) by making them more interactive, bring in elements of gamification, or make them active learning events. c. Non-campus recruiting. Much like on-campus recruiting, companies can effectively target potential applicants by hosting interactive, outcome oriented events that expose currently working individuals to experience the organization and its products/service, work environment, culture, etc. For example, several participants noted success using events like hack-a-thons focused on designing a new technology, program, etc. Events like this can create positive opportunities where potential candidates get to see the company, work on its products or ideas, contribute, see the outcome of their work, etc. d. Partnerships with other organizations. Participants also noted it is helpful to think about how to partner with other organizations to pull off these events if you are looking to reach a non-traditional audience, potential applicants that might not normally be attracted to your company, or to reach a wider audience than your company would normally attract. The idea is to partner with other organizations that help to attract the broader population and then positively expose the participants with the kinds of opportunities, culture, roles, etc. that are part of your organization that they may not have been aware of before participating. Development and Careers The second major topic of the working group was around how participants were rethinking employee development, career paths, etc. to engage and retain Millennials. The general belief is that this generation is far less patient in waiting for growth and career opportunities, much more likely to see growth and development opportunities outside the organization if they are frustrated with their progress internally, and are very driven and motivated by constant learning and development of new

3 Page 3 skills and capabilities. Therefore, learning, development, and career paths are key ways to keep Millennials engaged and retain key Millennial talent. One issue that many companies need to work around is that there tend to be flatter organizations now compared to even 10 years ago, leaving fewer opportunities for vertical career progression. Many of the participants have been thinking through different approaches, programs or activities to help Millennials feel that they are making career progression in light of the fewer vertical promotion opportunities. One key here is that companies will be more successful in engaging Millennials if they can connect changes in career progressions and career activities to future roles and career opportunities both within and outside the company. Career as a series of experiences and use of short-term assignments/projects: One way companies have responded is to reframe careers as a series of experiences that create new opportunities for learning and creating the framework for employees to understand the personal value of these new experiences. The experiences could come in the form of short-term projects or assignments that temporarily move them out of their current role, projects or assignments that are add-ons to the current role, lateral moves to other functions, lines of business or geographies, etc. The idea is to provide additional opportunities for learning and growth that match with longer-term career aspirations or learning goals. One key here is to be able to connect the learning experiences back to a larger goal for the individual (e.g., career), make sure that the experience actually provides the opportunity for new learning, and talk with the individual about different opportunities and provide them the chance to take some control over directionality. Many companies have had good luck with projects, assignments, or opportunities that tack on to the current role because the Millennials see this as a way to stretch themselves, are voluntary so that they can chose the projects that are most interesting, and motivating to them personally. Also companies need to revisit their competency models for higher level jobs and make sure that employees can match the skills and competencies that develop in these short-term assignments and projects to higher level roles. Career sessions: Some of the participants noted that they have had good experiences when creating careers sessions for Millennials with senior leaders. These formal or informal sessions have senior leaders talking about their own career paths and opportunities and give employees a sense of the types of experiences and competencies it takes for higher level roles. These sessions also play well to Millennials as it breaks down barriers and gives them the chance to have conversations and dialogue with senior leaders and also provides the potential opportunity for them to do reverse mentoring or share ideas about the organization with senior leaders. Career day: similar idea keep it smaller and more personal better run by leaders and managers rather than by HR, might even be leaders from other functions. What is the connection of pay, incentives and rewards to new assignments that are not vertical how to think about pay in ways that are not tied to layers and levels and connect it more to skills and new assignments. Marketplace for jobs: Career marketplace and taking power over your own careers. How to do succession in an ongoing way that matches the speed of organizational and business conditions. How to make sure the conversations and evaluation are happening how to track actual skills and potential to make sure the right people are getting the right roles. Use of data and technology to make matches or

4 Page 4 push job opportunities to people who have similar profiles or capabilities to current performers in that role Engaging Millennials as they roll off High-touch development programs: Many participants have been using high-touch technical or leadership programs as a way to engage Millennial talent right out of college, but there is a risk that the participants in these programs will feel less engaged as they move into normal jobs after the programs are completed. Participants identified a number of ways that they have tried to keep engaging this population. One company noted that they continue to invest in the employees rolling off of these programs through additional assessment, coaching, pool for special projects and short-term assignments, and continued exposure to senior leaders. Another participant noted that her organization has created an off-boarding process to help participants understand the processes, tools and procedures to managing careers and opportunities after the event. Yet another participant noted that he has created development-program alumni networks in which the employees Other Programs for Retaining and Engaging Millennials who have come off programs provide mentoring and coaching to employees on the program. In addition to the discussion on career paths and assignments, the group also covered many additional programs and activities that they have put in place to engage and retain Millennial talent. Orientation and on-boarding: Multiple participants noted that they have been rethinking orientation to ensure that they engage with Millennials early on in their tenure with the organization. For example, one participant noted that his organization has looked to create a global cohort in orientation sessions as a way to build employee networks, create a sense of belonging and help Millennial employees feel that they are part of something bigger. Collaboration communities and idea competitions: Multiple participants noted that their organizations seek to actively engage Millennials (and other employeed groups) in collaboration with communities or idea competitions. These are seemingly great approaches that satisfy this generation s interest in contributing the right away, working in diverse teams on new ideas, and being innovative without taking on great personal risk (i.e., starting their own companies). For example, several participants noted that they have had good success engaging Millennial employees by setting up a technology or new product development challenge in which any employee can produce and share an idea, comment on, improve, or vote on which idea they like the best. This method has several strengths in that it enables Millennial employees to be innovative, feel part of a bigger community and have voice by giving feedback, commenting on, and voting for best ideas. One way to make the idea have even more sticking power is to openly celebrate past winners and provide a visual representation of all of the new products that came out of the event. An alternative approach is to create a series of internal TEDx-type talks for employees to share deep insight on current projects or learnings a great way for Millennials both to learn from more experienced, senior employees, engage in a broader community or learning, or perhaps even share their own novel ideas or work with others. Millennial employee resource groups. Other participants noted that they have created volunteer or engagement teams these are groups that work on ideas, programs and events that will work to engage Millennials. Companies seem to have had good success by engaging Millennials in creating

5 Page 5 social events, community building events, mentoring teams, or CSR events to engage other Millennials. This has the dual purpose of getting best ideas from folks who have the same needs and desires and actively engaging them by making them in control of the design and execution of the solution. Much like other employee resource groups, the volunteers become the best advocates and are more likely to design activities that lead to more engagement. Role and Capabilities of Leaders The last topic of discussion was on the impact of leaders on Millennial engagement and retention. Based on the discussion it was clear that most of the participating companies have spent a good amount of time identifying the role of leaders and key competencies required for leaders to have a positive impact on Millennial engagement. Coaching and mentoring: Many participants noted that they have increasingly focused on helping managers to become better coaches and mentors as Millennial talent desires more frequent feedback from their managers, want to have dialogues and conversations with their leaders about performance, growth opportunities, careers, etc. Companies that have invested in developing the coaching capability of front-line leaders and building more mentoring capability in skip-level leaders seems to have seen results in greater employee engagement for both Millennial employees and employees from other generations. Career paths and movement: Connected to coaching and mentoring, it is also important to help managers understand different career paths, lateral opportunities, and the impact of short-term projects and assignments this might be particularly important for the generations of leaders that grew up with more defined vertical career paths. Greater openness to feedback from younger employees: Because Millennials are more accustomed to and have a greater desire to provide feedback, share their feelings and insights, and desire to have voice and be heard, managers must also become more open to listening to employees and become open to feedback from younger employees. Keys here seem to focus around active listening, creating opportunities for open dialogue, being open to reverse mentoring, and actively seeing ideas and input from employees. Training on inclusion and understanding different generations: Several participants noted that they have had success in increasing manager effectiveness for engaging this population through training programs focused on building a climate of inclusion and specific training on generational differences. This, much like the other leadership aspects, seems to have positive effects on employees across generations and other diversity factors. Senior leaders must model the right behaviors: Participants also noted that they have much greater success in changing the behavior of front-line leaders when the senior most leaders in the firm model the right behaviors. Key behaviors modeled by the senior leadership team include: seeking input from Millennial employees, being transparent and open in communications, openness to feedback and interaction with folks from lower in the organization, including openly soliciting feedback and input, actively participating in events where they meet small groups of Millennial employees to get to know them and talk about careers and the organization (e.g., lunches, career sessions), and having a reverse mentor relationship with one or more Millennial employees.

6 Page 6 This Summary Report was prepared by Chris Collins for use by participants of Ready for the World: Millennial Employees Working Group. The Center for Advanced Human Resource Studies (CAHRS) is an international center serving corporate human resources leaders and their companies by providing critical tools for building and leading high performing HR organizations. CAHRS mission is to bring together Partners and the ILR School s world-renowned HR Studies faculty to investigate, translate and apply the latest HR research into practice excellence.