The Leader Board Blog

Creating an Inclusive Culture in the Workplace

15 Oct at 10:17 pm

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An inclusive culture allows a workplace to thrive

Inclusion is the notion that everyone is treated fairly and respectfully, has equal access to opportunities and resources, and can contribute fully to the organization’s success. In order for inclusion to be successful, it requires everyone’s involvement — employee, manager and leader.

A company should hire employees from different backgrounds, and foster an environment that welcomes their opinions and ideas. The result will lead to increased employee engagement, creativity, retention and innovation.

According to Deloitte, inclusive workplaces are six times as likely to be innovative, and have more than two times the cash flow per employee over non-inclusive workplaces in a three-year period.

“Communication is the number one issue we’ve noticed with clients. It’s important for the entire company or organization to embrace diversity and inclusion, not just the HR department,” said Shawn Baker, president of Cochran, Cochran and Yale (CCY).

Top talent are always looking to work in diverse and inclusive environments, but not providing one may result in not securing the ideal candidate. Employees will leave a company if they feel they’re not heard or provided opportunities to advance in the workplace.

“Retention and a lack of proper recruitment strategies and branding to attract diverse candidates also are common challenges that companies and organizations must improve upon to create a culture of inclusiveness,” adds Baker.

The business case for diversity and inclusion remains strong. According to McKinsey & Company, the most diverse companies are now more likely than ever to outperform less diverse peers on profitability. A 2019 analysis found that companies in the top quartile for gender diversity on executive teams were 25 percent more likely to have above-average profitability than companies in the fourth quartile—up from 21 percent in 2017 and 15 percent in 2014.

5 Tips for Creating an Inclusive Culture

An inclusive culture truly allows a workplace to thrive. Here are five tips for creating an inclusive culture in the workplace:

1. Educate the leadership team. Educating the C-suite team and department leaders about the importance of inclusion and providing training will prove beneficial when it’s time to unveil inclusivity initiatives enterprise-wide. Nearly all of the Fortune 500 companies and nearly one-half of U.S. midsize companies mandate diversity training. Training helps raise awareness and removes bias, and facilitates necessary discussions.

2. Recognize more holidays. In addition to Christian holidays like Christmas and New Year’s, be sure to include holidays that represent the religious beliefs of the company at large. For Jewish employees, Rosh Hashanah and Yom Kippur should be recognized, while Eid-al-Fitr, Eid-al-Adha, Ramadan, and Muharram should be recognized for Muslims.

3. Recognize and reward performance often. Rewarding and recognizing employees often increases employee engagement and boosts morale. Schedule quarterly employee award ceremonies, promote them internally and recognize current and past winners.

4. Onboarding. Since onboarding is the first step of the employee’s journey, the process should focus on making them feel included. Research has shown that companies with an employee-focused onboarding program retained 91 percent of its first-year workers. Onboarding also can increase job satisfaction, enhance performance and reduce stress that new hires often experience.

5. Mentorship/Professional Development Programs. Ensuring that everyone has the opportunity to advance within a company is very important. High-performing employees should be offered mentors regardless of their age, race, sex. If a mentorship program isn’t feasible, there are other ways of providing similar opportunities, including supporting employees’ continuing education and professional development groups. Prioritizing inclusion in the workplace can improve a company’s brand identity and reputation too.

Contact Us

At CCY, we help your business embrace change, create an inclusive workplace culture, identify areas of HR improvement, and add value to the broader organization through these key services:

HR Optimization
HR Transformation
Talent Management
HR Outsourcing
Change Management
Organization Design

CCY has developed talent and trained leaders and managers for 40+ years. We propel business success by aligning human capital with organizational strategy. CCY’s services are custom-fit to any workforce performance need, capable of supporting both large industry and small start-up employers for the entire human capital life cycle.

Understanding Human Capital Performance and Impact on Organizational Outcomes

6 Oct at 8:25 pm

It’s often said that a company is only as good as its people.

All employees that comprise a company’s human capital are critical to its overall success. Human capital can be a company’s greatest asset; it can make or break the business strategy and is a key differentiator. According to a recent article in the Harvard Law School Forum on Corporate Governance, a company’s intangible assets, including human capital and culture, are now estimated to comprise on average 52% of a company’s market value.

The term “human capital” has been around for generations. It’s defined as the economic value of an employee’s overall experience and skills, which includes education, training and other intangibles such as loyalty and work ethic. Managing human capital is also essential in the hiring, retaining and recruitment process.

One way employers can maximize the quality of that capital is by investment —the education, experience and abilities of employees all have economic value for employers and for the economy. The more a company invests in its employees, the more productive and profitable it can be. It’s also a way to increase employee engagement and satisfaction. When employees feel they’re appreciated by management, they’re more likely to stay with the company, which enhances the company’s value even more. Here are a few ways to invest in human capital:

Assist employees in maintaining/growing skill sets to remain competitive
Maintain productive workplace environment for static employees
Encourage HR department to develop new ways to invest in human capital

Embracing Diversity and Inclusion

Top talent are always looking to work in diverse and inclusive environments, but not providing one may result in not securing the ideal candidate for your team. Employees will leave your company if they feel they’re not heard or provided opportunities to advance in the workplace. A diverse and inclusive environment will definitely lead to increased employee engagement, creativity, retention and innovation.

According to a recent study by the McKinsey Global Institute, employee diversity is associated with better business results. In the study, titled “Diversity Matters”, 366 public companies were surveyed from different countries in the Western World. Two key findings resulted from the study:

Gender-diverse companies are more likely to perform 15% better
Ethnically-diverse companies are more likely to perform 35% better

Human Capital Opportunities from the COVID-19 Crisis

The COVID-19 pandemic has been a challenging time for employers as they struggle to maintain company stability, preserve human capital value and adjust to a remote workforce. In some cases, the crisis has resulted in opportunities for changes in business models and future innovation. According to a global survey of 514 employers:

63% have taken action on, are planning or considering redeploying (and potentially reskilling) workers to support another function
57% have taken action on, are planning or considering shifting when and where work gets done
48% have taken action on, are planning or considering automating certain aspects of work to streamline and/or increase productivity

In addition, employee health has proved to be a genuine concern for many companies during the COVID-19 crisis. Employees responding to employer-sponsored surveys, noted that “well-being support from the employer in the form of outreach from managers and communication regarding an organization’s health and well-being efforts can serve as a buffer against anxiety.”

As companies continue to adjust to this ‘new normal’, they recognize the need to focus on balancing company and employee well-being, which incorporates financial, social, physical and emotional factors. All of this will result in sustained value for the business and workforce.

Contact Us

Cochran, Cochran and Yale (CCY) has developed talent and trained leaders and managers for 40+ years. We propel business success by aligning human capital with organizational strategy. CCY’s services are custom-fit to any workforce performance need, capable of supporting both large industry and small start-up employers for the entire human capital life cycle. We deliver measurable results through 40+ years in the people industry.

Interested in learning more about our services? Contact us today!

5 Ways to Improve Employee Engagement

31 Aug at 5:50 am

If you’ve ever worked at a company, big or small, you may already know why it’s important to improve employee engagement through annual surveys or new employee orientation. Most companies have made employee engagement a priority because they realize that satisfied and motivated employees are beneficial and critical to the success of any organization.

Before providing several ways to improve employee engagement, let’s take a look at a few key indicators that stress the importance of employee engagement. The statistics are staggering as it relates to disengaged employees:

The number of employees who are disengaged at work has averaged 70% for nearly two decades
U.S. businesses lose $11 billion to staff turnover each year
The average company’s biggest productivity losses are often caused by less than 20% of employees who are “disengaged” or “extremely disengaged”

Productivity, Profits and Retention

Studies have proved that by investing in employee engagement strategies will lead to improved employee engagement and a positive impact on productivity, profits and retention.

Companies with high and sustainable levels of engagement tend to have operating margins up to three times higher than companies with low or unsustainable levels of engagement (Willis Towers Watson)
Studies show that businesses with the highest levels of employee engagement are 22% more profitable than those with low levels of engagement (Gallup)
Organizations with higher than average employee engagement have been known to exceed the financial performance of their peers by 73% (University of Pennsylvania’s Wharton School)
In one recent case study, an Ohio-based manufacturer was able to increase profits 24% after measuring employee engagement (Emplify)
Engaged employees are 44% more productive than workers who merely feel satisfied (Bain & Company)
An employee who feels engaged and inspired is 125% more productive than the satisfied staffer (Bain & Company)

New Trends to Increase Employee Engagement

Leadership, communication and training will always serve as cornerstones for maintaining a happy and healthy staff, but a few more trends have emerged as ways to increase employee engagement. Let’s take a look at five ways to improve employee engagement.

1. Mental Health

Anxiety, depression, and other mental illnesses can be costly to employers. As healthcare costs rise, employers must be committed to improving conditions in the workplace. Some companies are encouraging employees to take paid mental health days, while mandatory training educates directors in identifying more serious mental health and substance-abuse issues.

2. Professional Development

Engaged employees will always embrace professional development. LinkedIn reported that 44% of people said that personal development and career advancement opportunities were the reason why they chose their current jobs. It’s important to encourage and support professional development among employees, as well as opportunities to take on new responsibilities.

3. Innovation and Change

Advances in technology have had an effect on nearly every industry. Companies must adapt quickly to remain competitive and when employees are given the opportunity to contribute to change, they will feel more connected and engaged.

4. Work/Life Balance

Companies with policies that embrace work/life balance like flexible work hours and working from home are more likely to have engaged employees. Strict schedules and dress codes may soon become a thing of the past, as they are no longer how to engage employees successfully.

5. Ongoing Performance Improvement Discussions

As directors adjust to new technology like Yelp and other apps that provide real-time feedback and reviews, the younger employees prefer the same. They would rather not wait for an end-of-year performance review to track their progress and provide feedback. Companies are now implementing more frequent meetings and feedback on performance.

Contact Us

Cochran, Cochran and Yale are nationally-recognized within the Professional, Technical, and Executive Search and Leadership advisory industries as the preferred resource for targeted talent acquisition, from key staff members to members of the boardroom. We do not fill jobs—we find your next outstanding leader.

Talk to an expert today!

Supporting Diversity and Inclusion in the Workplace

24 Jul at 5:51 am

Diversity and inclusion in the workplace should never be viewed as simply corporate speak. These words need to be taken seriously and embraced by all members of a company or organization. It’s also important not to confuse the terms as they’re often used interchangeably.

Diversity refers to achieving the right mix in the workplace, while recognizing the need for different perspectives. Inclusion is the notion that all individuals are treated fairly and respectfully, have equal access to opportunities and resources, and can contribute fully to the organization’s success.

Improving Statistics, Implementing Change

Sadly, the statistics below reflect a negative trend and illustrate the importance of instilling a more diverse and inclusive culture. A company should hire employees from different backgrounds, and foster an environment that welcomes their opinions and ideas. The result will definitely lead to increased employee engagement, creativity, retention and innovation.

Only four percent of Fortune 500 companies have women CEOs. – Fortune
Only 13% of employers monitor how much time is spent discussing inclusion and diversity at senior management meetings. – Robert Walters
Only 20% of C-suite roles are held by women. – Women in the Workplace in 2017
74% of Amazon executives are white men. That compares to 68% at Apple, 65% at Google, and 51% at Facebook. Recode

Ideas to Support Diversity and Inclusion in the Workplace

How does your company measure up to some of these statistics? Top talent are always looking to work in diverse and inclusive environments, but not providing one may result in not securing the ideal candidate for your team. Employees will leave your company if they feel they’re not heard or provided opportunities to advance in the workplace. Below are a few ways that companies can support diversity and inclusion in the workplace:

Update internal policies to include diversity and inclusion training
Celebrate holidays of all cultures
Create mentorship programs
Establish a culture that promotes different perspectives

Statistics That Inspire Change

According to a recent study by the McKinsey Global Institute (MGI), employee diversity is associated with better business results. In the study, titled “Diversity Matters”, 366 public companies were surveyed from different countries in the Western World. Two key findings:

Gender-diverse companies are more likely to perform 15% better
Ethnically-diverse companies are more likely to perform 35% better

Although being diverse doesn’t directly translate to more sales or profit, companies who have a diverse population tend to be more successful. Here are some other statistics to consider:

Earnings before interest and taxes (EBIT) increased by 8% for every 10% increase in the ethnic and gender composition of senior executive teams in the United States.
In the United Kingdom, companies have seen a 3.5% increase in EBIT for every 10% increase in gender diversity in the same senior executive team.

At Cochran, Cochran and Yale (CCY), we help your business embrace change, identify areas of HR improvement, and add value to the broader organization through these key services:

HR Optimization
HR Transformation
Talent Management
HR Outsourcing
Change Management
Organization Design

Contact Us

Interested in learning more about our services? Contact Shawn Baker at (585) 314-3891 or shbaker@ccy.com.

Rochester Business Journal Articles

21 Jan 2019

Leadership, planning crucial for managing a crisis

Cochran, Cochran & Yale’s President, Shawn Baker has recently been quoted in two Rochester Business Journal Articles. Please use the links below to read these interesting articles.

Applicant interviewers must work to neutralize their biases

Press Release

PREDICTING SEXUAL HARASSMENT

7 Feb 2018

Harvey Weinstein. Kevin Spacey. Donald Trump. It’s safe to say that sexual harassment is in the national spotlight currently, and rightfully so. It’s about time these issues were brought to light, and the perpetrators brought to justice. With increasing media attention, though, also comes increased scrutiny within organizations. How can business leaders correct problematic behaviors within their organization before an actual incident of harassment occurs?

It’s impossible to predict the future, and it can be tricky to identify an issue before a complaint has been made – at which point, the damage has already been done and the company is at risk. However, there are certain traits that are common in sexual harassers – traits that are also generally associated with leadership positions. While there are a number of warning signs that an employee’s behavior may become problematic, the top identifying traits include:

High self-confidence and impulsiveness
Lack of awareness and a disconnect with reality
High self-serving and risky tendencies

Of course, business leaders should absolutely possess high self-confidence in order to instill confidence in their staff and/or clients. However, like Christmas cookies, too much of a good thing can be problematic. Individuals who are self-confident to an extreme also often lack the ability (or desire) to recognize their own flaws, and may be likely to engage in impulsive behaviors – such as sexually pursuing an employee. This can also translate to an inability to accept rejection. To the offender, if they possess extremely high self-confidence, they may view that rejection as if the employee was simply playing hard-to-get, and may actually be encouraged to pursue the ‘chase.’

This disconnect with reality is another trait that’s common among sexual predators. Most individuals possess at least a reasonable level of awareness, and even if they are attracted to a colleague, are able to control and inhibit those feelings – and any related behaviors. However, leaders who possess both high self-confidence and low awareness might believe that they’re a ‘catch,’ and that the object of their affection would be lucky to even be associated with them. Arrogance is annoying, but it’s also dangerous when a perpetrator lacks awareness to recognize indicators that their advances are unwanted.

It’s hard to convince powerful people that they’re wrong. Successful leaders who have built an empire through hard work, intuition, and business savvy sometimes feel that they can do no wrong. Because of this, leaders may lack the ability to understand others’ points of view, especially when those viewpoints contradict their own. When sexual advances are rejected, for example, it can create a cognitive dissonance that may actually encourage the individual to continue to pursue the victim until the desired ‘result’ is achieved – even if it means hurting that person in the process. This self-serving, risky behavior is typical among predators, as they’re comfortable hurting others to get what they want.

Of course, not all individuals who possess these traits will commit an act of harassment – in fact, most will not. However, being able to recognize the warning signs is critical to becoming proactive about managing this issue on an enterprise-wide level.

As a first step, employees’ behaviors should first be measured – either through effective interviewing techniques or comprehensive personality assessments. Based on the results, individuals who possess the traits outlined above should be monitored and counseled as needed. Although the goal is to correct unwanted traits before harmful behaviors occur, there are some early behavioral warning signs that an individual may commit sexual harassment:

Dominant and controlling behaviors, particularly with subordinates, and a negative response to authority/supervision.
Boundary violations, or individuals who are comfortable ‘pushing the envelope’ on sensitive topics.
Grooming behaviors, which can start subtly with friendly compliments, but escalate over time with a goal of bringing the victim closer. To an outsider, this might look like a boss who has a ‘special’ relationship with a particular employee, with the relationship intensifying over time.

There is no sure-fire way to identify a sexual harasser before an act has been committed; this isn’t Minority Report. However, organizations have a responsibility to understand the characteristics, behaviors, and warning signs that often lead to harassment. Employers have a responsibility to provide a safe environment for their staff, and providing a workplace free of unwanted sexual advances is part of that obligation. Frankly, organizations that don’t take proactive steps to protect their employees – especially given the current spotlight on this issue – deserve whatever charges (and the ensuing litigation) they may end up facing.

GETTING THE MOST OUT OF YOUR TEAM: MEASURING PERFORMANCE TO PREDICT SUCCESS

18 Dec 2017

As we approach year-end, members of organizational leadership are looking back at their team’s performance and setting goals for the New Year. Did your team meet the goals and objectives you had set out for this year? If not, what will you do going forward to address any deficiencies? More importantly, are you confident that you have the right team to achieve your goals for 2018?

Managers and HR executives dread these questions, because there is seemingly no easy answer. How can you accurately measure your teams past performance, and how can you confidently predict future performance?Both of these points can be addressed by first understanding how individual characteristics and behaviors drive performance. A team is only as strong as the sum of its parts, so it’s in management’s best interest to understand specifically how each team member contributes to – or counteracts – organizational success. Recognizing individual team members’ competencies and shortcomings across a few key areas is the first step to developing effective performance management techniques, which will ultimately optimize your team for future success.

Concentration

Concentration, or the ability to focus, is one of the most important traits for successful individuals to possess. An individual’s level of concentration can be determined by analyzing internal distractibility, external distractibility, and flexibility.

Internal distractibility refers to an individual’s ability to quiet their thoughts in order to focus on the task at hand. Chronic daydreamers, for example, likely have high internal distractibility. Having the ability to shut off your internal monologue can be especially important in a business setting. Have you ever been speaking to a colleague who appears to be listening, but clearly, their mind is elsewhere? You probably did not have much confidence in that individual’s ability to retain the information.

External distractibility describes a person’s ability to ignore irrelevant cues in their physical surroundings. If your work comes to a halt whenever you hear sirens passing by outside, or if you can’t help but eavesdrop whenever co-workers are chatting nearby, you likely have high external distractibility.

The third concentration factor to consider is flexibility. For example, an individual’s ability to multi-task is a general indicator of their mental flexibility. Consider the job of a waiter who has to simultaneously take orders, communicate with the kitchen, check in with customers, close out bills, and handle special requests on the fly. Having a high level of flexibility is critical to success in this type of position. Alternatively, individuals who are not able to juggle multiple priorities would be less likely to possess flexibility, which will certainly affect performance.

Awareness

Awareness defines an individual’s sensitivity to their environment. The term can be further dissected by considering both internal and external awareness factors. External awareness describes an individual’s ability to monitor their physical surroundings; internal awareness describes an individual’s ability to monitor and control their own thoughts.

Awareness is one of the most important factors for individual success, and it’s closely related to concentration. At first, the two concepts may seem contradictory. How can you be constantly aware of your environment without becoming distracted by it? The solution lies in the individual’s ability to control their attention.

Consider the job of a truck driver who has to concentrate on their route, payload, dashboard controls, and – of course – the road ahead. Even if the truck driver is able to effectively concentrate on these requirements, they will not be successful if they are not also highly aware. Truck drivers must be able to react quickly when other drivers switch lanes, or when weather conditions change, for example. As an analogy, concentration is to your direct line of sight as awareness is to your peripheral vision. You must be able to concentrate and remain aware in order to see the full picture.

Interpersonal

An individual’s interpersonal style is one of their most visible performance indicators, but also one of the most complex to measure. Interpersonal communications can be broken down into factors such as introversion, extroversion, self-expression, and confidence, although there are many other characteristics that interact to define a person’s interpersonal style.

Introversion and extroversion describe an individual’s reaction to social settings. There’s a misconception that introverts are shy and extroverts are outgoing. However, it’s very possible for introverts to be outgoing and extroverts to be shy. In fact, at a basic level, the differentiation between the two terms lies in the individual’s ‘energy.’ Introverts tend to lose energy in social settings, whereas extroverts become energized when social. If you find that you enjoy networking events, but feel completely drained when you leave the event, you may be high in introversion. If you find that you become weary when left alone with your own thoughts, you may be high in extroversion. As a side note, it’s important to note that the terms aren’t mutually exclusive; everybody possesses a certain degree of both introversion and extroversion.

Self-expression is another interpersonal indicator, referring to an individual’s ability to convey professional ideas, express frustration, and communicate support. An individual with a great idea will only be successful if they’re able to effectively express that thought in a professional setting. An individual’s ability to control the expression of their emotions is also important for performance. Of course, a team member who expresses anger aggressively may be difficult to work with – but a team member who is unable to express anger may end up feeling dissatisfied and unfulfilled, unbeknownst to their peers. The ability to express support is especially important in management positions. If you’re unable to support your direct reports, they’re likely to feel unappreciated.

Confidence is a key component of an individual’s interpersonal style. Having confidence in yourself instills confidence in others, so it’s especially vital for leaders to possess this trait. However, confidence can be impacted by self-criticism. While it’s important to recognize our shortcomings in order to improve, if you find that you really beat yourself up over minor mistakes, you may be highly self-critical – and your confidence will suffer as a result. Of course, nobody feels completely confident at all times; most people feel some degree of uncertainty before public speaking, for example. If you find that you’re constantly second-guessing your efforts, though, it may be beneficial to consider ways to improve your confidence.

Interactions Between Performance Indicators

Humans are complex beings with busy intersections of characteristics that all interact to create an intricate, dynamic personality profile. Recognizing performance indicators on a singular basis is only the first step to predicting an individual’s behavior; you must also understand how different traits interact with each other.

For example, imagine a salesperson who has high awareness and high external distractibility. Awareness is typically a very desirable trait for sales roles, as it’s important for people in these positions to be able to focus on the task at hand while also noting their customer’s nonverbal cues, for instance. However, awareness will not ensure success on its own. Since this salesperson’s external distractibility is also high, not only will s/he be fully-aware of the interactions with the customer, but also of cars passing on the street, people walking by in the hallway, the A/C shutting off, and other unrelated external cues. You can see how a person with this type of profile will likely be less successful in a sales situation than someone who is able to both focus and remain aware.

As another example, consider a CEO who is highly self-critical, has low flexibility, and high self-expression of anger. This individual may be prone to agonizing over minor mistakes, as they’re unable to control their internal monologue to stop the barrage of self-criticism, and as a result, they will lash out at peers.

Of course, there are endless combinations of core competencies that individuals may possess, and there’s no way to simply categorize people based off a few traits. However, if you’re able to identify the factors that are most important to an individual’s success within your organization’s specific culture, you can then measure your team members’ strengths in each of those areas. Recognizing key performance indicators on an individual basis, as well as understanding how to address that individual’s relative strengths and weaknesses, will lead to a stronger, more cohesive team – which in turn, contributes to a strong corporate culture.

MANAGING MILLENNIALS: Getting The Most Out Of Your Gen Y Employees

18 Dec 2017

Every generation has its hallmarks. Unfortunately, millennials have the unique distinction of being the first generation in recorded history to perform worse than their parents financially. Not to mention, this age bracket receives a lot of bad press, with stereotypes ranging from entitlement to social ineptitude. However, business leaders must understand that hiring millennials is an inevitability, especially as the baby boomers continue to age. So, what can you do to make the most out of your younger staff? Should you adjust your business models to adapt to this generation, or should you expect millennial employees to adapt to your organization’s existing models?

Generational Characteristics
Despite the negative stereotypes, millennials are notoriously ambitious, opportunistic, and highly interested in professional development. Due to these characteristics, millennial employees are often self-motivated to complete work ahead of schedule, then ask for more work to create as significant of an impact on the organization as possible. This generation is also known for their propensity for multi-tasking, so millennials generally appreciate positions that offer varied, interesting assignments. However, millennials also expect consistent feedback and recognition. If a millennial perceives that their hard work has gone unnoticed, they may be more likely to consider new employment than their more senior counterparts would be in the same situation.

One of the most popular negative stereotypes associated with millennials is a lack of communication skills, particularly verbal communications. There’s a common perception that millennials avoid face-to-face interactions in favor of electronic communications, which is likely due to the fact that this generation is the first to grow up with instant messaging, email, and social media. As a trade off, though, this generation is significantly more tech-savvy than previous generations.

Another prevalent stereotype of this generation is a sense of entitlement – a perception that millennials expect unrealistic salaries and impossibly rapid advancement. This sense of perceived entitlement may actually stem from this generation’s rampant idealism. Gen Y-ers are more comfortable with challenging established processes than older employees, and believe that success should be based on personal drive – not corporate politics.

This idealism extends further; millennials don’t just want to pursue a career that pays well, but genuinely want to do work that matters. This generation has firm personal values, including a healthy work/life balance, and are interested in organizations that place significance on corporate responsibility. In fact, many members of this generation are more driven to pursue opportunities that are in line with their core personal values than they are motivated by compensation.

What Do Millennials Expect From Employers?

Consistent, clear communication from leadership, and timely feedback.
Challenging, varied work.
An organization that places significant value on corporate responsibility.
Creative, collaborative work environment. (While all generations value a positive work environment, millennials are less likely than preceding generations to tolerate a bad environment.)
Flexibility and a healthy work/life balance.
Opportunities for professional development and advancement.

What Do Employers Expect From Millennial Employees?

- Realistic compensation and promotion expectations.
- Solid work ethic.
- Self-motivation.
- Good communication skills, including verbal and written.

Tips For Managing Millennials:
To ensure that Gen Y staff members continue to go above and beyond, it’s important to provide clear feedback. However, note that it’s not necessary to provide instant or constant feedback; it’s more important to ensure consistency in your approach. If possible, schedule a weekly check-in with your millennial reports – even if only for 15 minutes. Use this time to provide honest, constructive criticism that may help guide your direct reports to future advancement opportunities.

Similarly, understand that advancement doesn’t necessarily have to be in the form of a promotion or raise. Consider whether there are any special projects or assignments on your plate that a millennial can cut his or her teeth on. For example, is there room for your organization to strengthen its social media presence?

Invest time in developing millennials. Hiring younger employees is an easy way to reduce staffing costs, but it’s also a business opportunity to build and mold your team from the ground up. However, as a trade off, you should expect and plan for a longer ramp-up period. Having a formalized on boarding and training program will help to keep millennials on track as they learn the nuances of your business.

Provide training opportunities whenever possible, and reward top performers with interesting assignments. Engagement drives performance for any employee, but keeping millennials engaged is particularly important for retention. On average, members of this generation will jump jobs four times in their first decade out of college. If your millennial staff members aren’t engaged, they are much more likely than their predecessors to pursue other opportunities.

Additionally, consider offering flexible work arrangements to all employees. In this digital age, there are many positions that can be performed remotely. Companies offering flexible work schedules, such as an option to work from home on occasion, are becoming increasingly prevalent. If you want your organization to stay competitive in the marketplace, consider whether there is opportunity to increase flexibility.

Conclusion
Hiring millennials is an inevitability, but not necessarily a business obstacle. This is an ambitious, self-confident, tech savvy, progressive generation of employees who can add tremendous value to any organization. By simply providing recognition, fair advancement opportunities, consistent communication, and a degree of flexibility, you can position your organization to become extremely competitive in the current candidate marketplace.

The workforce is constantly evolving, and you can expect that the generation proceeding millennials will also have specific strengths and expectations. As such, organizations must embrace change, adjusting policies to reflect their current staff’s expectations. In exchange, employees will engage with the culture and align with the organization’s already-established core values and mission. In the end, the organization will only become stronger as a result of this tradeoff.

Personal Performance & Development

6 Dec 2017