Much has been spoken and written on this subject, however I still meet very often with frustrated managers facing this challenge, and the costly reality it represents for many companies.
Considering that today Millennials are more than 40% of the active population and in 2025 will be 75%, it is paramount that companies can engage and develop these workers, potentiate their forces and be able to retain them for larger time, as this will mean financial gains at various levels (more productivity, more efficiency, fewer employee turnover costs…).
Statistics show that this generation stays between 2 and 3 years in a function/company, which means that on average they will have about 20 jobs during their active life, building what is called “portfolio career”. The continuous development and learning of new competencies is therefore critical, so that they can stay professionally active and able to respond to new realities that arise. Companies should identify what is needed and be the facilitators of this learning. Short-term specific trainings and certifications will increasingly be the trend, so that these multitasking collaborators can actively contribute at professional level and feel that they can make a difference.
To engage and retain Millennials, companies need to create a strong culture where openness, transparency and collaboration are active values, and where managers exercise an inspiring leadership by clearly establishing the vision, the why and the meaning of what they do. This generation wants to believe that they contribute to create a better world and there is a reason to be in the company than just the salary.
It is also very relevant to create flexible work environments and policies, allowing them to manage well the work-life balance, as for Millennials the end results are the most important (not working hours). In this sense, regular follow up by managers, with more frequent feedback, ensures that employees are motivated and aligned with the company’s objectives. They are not interested in bosses, rather in managers that are coaches/mentors who listen actively, identify opportunities for development and establish plans for learning new competencies that enable progress and advancement in the company.
The presence of Millennials in companies is inescapable, and these need to adapt to this reality. Creating conditions to make the best out of opportunities that surface has to be the new mindset of business managers. Working with a generation for which purpose, flexibility and constant development is fundamental brings new challenges, but there are solutions.
Developing a Leadership through Coaching culture, enabling internal Coaching and Mentoring, and the design & planning of new training strategies based on the continuous development of new competencies and generation of opportunities for experiential learning are a must!
What about you? Do you regularly share your company’s vision and values with your employees? Already have the training and development plan for 2019?
Business Director & Associated Coach
January 4th, 2019
In order for us to inspire you and develop a community with more commited and initiative people, we want to give you great examples. That is why we challenged a few of our customers that we admire as the leaders they are by bringing excelent results in their companies, to share their experiences. Take a look at the video:
Culture is always working, 24/7, sending clues to people about how they should think and act at work. Culture tends to be hard to change and generally is only put into question when new results are needed. Makes sense: the same old mindset will only get you the same old results.
If your organization needs to accelerate growth, make a fast change, merge or expand, reinvent itself to seize an opportunity or simply have more positive results, you will have to manage the culture to get there.
What do you do when you have to make changes to achieve new results? Do you introduce new action plans, new rules, new procedures? Or do you restructure? Restructuring is the path most managers take but mostly they end up realizing that nothing has changed in the way people think. That happens because restructuring processes tend to focus on the surface – in changing the way people act. But when we focus only on actions we end up using a “coercive” change strategy based on forcing people into doing what we want them to do. And they do it – until the pressure if off and everything goes back to how it used to be.
Do you think you can force someone to change their thinking or their beliefs? Of course not. You have to change their experience so they can choose to change their beliefs.
Changing the way employees think and act seems impossible for most managers but with the Partners In Leadership methodology it isn’t. This methodology has been responsible for quick culture changes and results boosts for many organizations worldwide and we represent it exclusively in Portugal.
According to this methodology, to change people’s actions we have to change their beliefs about what they should do and how they should do it. These beliefs or ways of thinking originate in experience. To simplify: experiences create beliefs, beliefs drive actions, and actions produce results. Therefore to change results we have to start by changing people’s beliefs, according to the Partners In Leadership model. Unlike what happens when we focus in actions, when focusing on beliefs and experiences we tend to use a “persuasive” strategy of change based on helping people to fully invest in and take ownership of change.
When this happens a transformational change is achieved. You will no longer have to tell people what to do. They will have internalized the change and will be able to put their heart and mind into it. When people only change actions, it is only a transitional change, which will not last long.
Are the changes you need in your organization transformational or transitional? If you need a transformational change, dedicate yourself to managing the culture or the culture will be managing you.
Isabel Freire de Andrade
Partner da Bright Concept