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Recruiting and Retaining Top Talent
Presented by
Kathryne A. Newtwon
10:45 a.m. – 12:00 p.m.
Sponsored by
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Preparing for 2020: Recruiting and Retaining Top Talent
KATHRYNE A. NEWTON, MBA, PH.D.ASSOCIATE DEAN FOR GRADUATE PROGRAMS AND FACULTY SUCCESSPROGRAM HEAD AND PROFESSOR OF SUPPLY CHAIN MANAGEMENT TECHNOLOGYPURDUE UNIVERSITY, WEST LAFAYETTE , [email protected]
MHEDA'S 2017 CONVENTION & EXHIBITOR SHOWCASE
2020 Managers Must…
Understand needs, expectations and values of five highly diverse generations .
Be prepared to communicate effectively in all situations.
Develop strategies for hiring and retaining them; including how to best motivate and reward them
Practice No Surprise Management: Goals, Training, Feedback, Rewards
Set a strategy for your future leadership.
R U Rdy?!
2
Diversity in the U.S.: A New Workforce is Around the Corner
3 Important demographic shifts:◦ The U.S. is getting bigger, older and more racially and ethnically diverse◦ From 1980‐2020, Caucasian workers will decline from 82 to 63%
◦ White will cease to be the majority US population by 2050
◦ Latinos will almost triple from 6% to 17%
◦ In 2014, millennials (or Gen Y, born between 1977‐1997) represented almost 47% of workforce; by 2020, close to 50%
◦More women are in higher education than males, and more are entering and staying in the workforce (about ½ compared to 1/3 in 1967).
A New Workforce is Coming….
“Where did all the Boomers Go?!”
Getting Prepared
Understand shifts of each generation and their distinct characteristics.
Learn to communicate in different ways to reach them.
Develop strategies for hiring and retaining them; including how to best motivate and reward them.
Practice “No Surprise” Management
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The Five Generations
Traditionalists/Veterans (1922-1945)
Major Traits: loyal, traditional nuclear families
Major Influences: “Depression Babies,” WW II, Cold War, Korean War, rise of suburbs
Broad Traits: sacrifice, discipline, conformance, respect for authority, save your money – pay cash!
Defining Invention: fax machine
Percent Using Internet: 53% (just happened!)
Characteristics: formal and detailed, good communicators, excellent work ethic ‐ security is important, accepting and trusting of authority, empathetic
The Five Generations
Baby Boomers(1946-1964)
Major Traits: optimistic, idealist, competitive, disintegrating families, love democracy
Major Influences: “Woodstock Generation,” Vietnam War, Watergate, women’s rights, JFK assassination
Broad Traits: competitive, sandwiched generation, work hard, long hours, well‐educated, excellent teamwork
Defining Invention: personal computer
Percent Using Internet: 65%+
Characteristics: semiformal communicators, buy now/pay later, “what’s the bottom line/ my rewards,” accept “rules,” socially confident
The Five Generations
Generation X(1965 – 1976)
Major Traits: fun, self‐reliant, critical, competitive
Major Influences: “Latchkey Generation,” MTV, AIDS, Gulf War, 1987 stock market crash, fall of Berlin Wall
Broad Traits: eclectic, free agents, work/life balance, socially responsible and adaptable, independent, “selfish”
Defining Invention: mobile phone
Percent Using Internet: 75%
Characteristics: not serious/irreverent, get to point – “what do I need to know?” “what matters to me is…,” openly questions authority, often skeptical, collaborative
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The Five Generations
Millennials (Generation Y)(1977-1997)
Major Traits: immediacy, confident, merged families
Major Influences: “Entitled Generation” (doting parents), technology (Google and Facebook), 9/11 terrorist attacks, election of Barack Obama, the Great Recession
Broad Traits: community service, cyberliteracy, accepting of diversity, work‐life balance (stable), socially responsible
Defining Invention: internet (Google and Facebook)
Percent Using Internet: 97% (many times a day)
Characteristics: risk‐takers, into eye‐catching fun. “If and when I need it, I’ll find it online.” What’s relevant is now, today, and my role. Earn to spend, OK with authority that earns respect. Politically aware, tech‐savvy, innovative
The Five Generations
Generation 2020(or Z)Born since 1997
Major Traits: hyper‐connectedness, multi‐taskers, like stress, creative, embrace diversity, “trust‐fund” generation
Major Influences: “Facebook Crowd,” social games, Iraq War, Great Recession
Broad Traits: mobility, media savvy, life online starting in pre‐school, reading books on e‐readers
Defining Invention: iPhone apps, E‐paper, augmented reality, “wearable” learning
Characteristics: socially responsible, more sensible than grandparents, tolerant of alternative lifestyles, nicer than parents
*In 2025, they will be the Largest Generation at work
Generational Grand Shift Looking Forward
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The Generations at WorkWork Ethic and
Values
Veterans Baby Boomers Generation X Generation Y
“Millenials”
Generation Z
Work is… An obligation…
for life
An exciting
adventure
A difficult
challenge
A contract
A means to an
end
Fulfillment
Career
Multitaskers,
Readily move
Leadership Style Directive
Command‐and‐
control
Consensual Collegial
Collective Minded
Everyone is the
same
Challenge others
Ask why
Challenge
authority
Respect “earned”
authority
Change Self
Align Actions with
Values
Dialogue
Interactive Style Face‐to‐face
Formal letters
Team oriented,
Love to have
meetings
Entrepreneurial, Loyal
to Profession
Participative, Work
“with,” not
“for”
Technology
dependent,
Integrated
Feedback and
Rewards
No news is good
news
Satisfaction in a
job well done
Home ownership
Unappreciative
Use Money
Title/recognition
Job Security
Sorry to interrupt,
but how am I
doing?
Freedom is the
best reward
Whenever I want
it, at the push
of a button
Meaningful work
Social rewards
Recognition
Public Praise
Messages that
Motivate
Your experience is
respected
You are valued
You are needed
Do it your way
Forget the rules
You will be with
other bright,
creative people
Online training
Work and Family
Life
Ne’er the twain
shall meet
No balance
Work to live
Work‐Life Balance Balance – Freedom
and Flexibility
Structure Stability
Cisco’s Social Media Survey of Millennials
2/3 will ask about social media during job interviews56% will not take a job from a company that bans social media… or will work around the ban1/3 prioritize social media access and mobility device freedom over salary66% believe corporate devices should be used for social media and personal use70% believe being in an office is unnecessary
http://www.cisco.com/c/en/us/netsol/ns1120/index.html
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Working with Millennials…Worth the EffortAmeritrade Commercial : Stewart (feat. Mike Maronna) ‐ YouTube
Provide a career path and good mentors –great training a must
Make work meaningful
Set goals and measure progress
Praise in public…
Use continuous appraisals, straight feedback
Offer more than compensation incentives; customizable rewards
Don’t forget to be a manager!
We Must Recruit and Retain Top Talent in Order to CompeteHiring the right person for the job is only the first step.
We are no longer in an era where all a manager has to do is hire good people and pay them a fair (or almost fair) wage to keep them working for you.
Managers must provide a blend of benefits and company culture that works together to do what essentially boils down to keeping people happy.
The best employees in any industry will always have a job.
You can’t find loyal employees, you’ve got to build them.
Examine Your Company’s Culture
•Team environment (including top management)
•Creativity and innovation – variety of perspectives
•Openness of communications (authenticity and inclusion are critical)
•Propensity for action and change – great coaching and support systems
•Employee and customer participation
•Respect for the individual
•Flexible schedules and open office designs
7
Examples of Changes Happening During the “Innovation” Era… NOW
Major predictions as we move to 2020:◦ Hiring/promoting will be based on reputation capital;
◦ Your workplace will revolve around technology, mobile devices;
◦ Job requirements for CEOs will include blogging;
◦ Corp. trainers will use simulations and alternate reality as key delivery models;
◦ HR focus will move from outsourcing to crowdsourcing; geography not a limit;
◦ Lifelong learning will be a business requirement;
◦ Corporate social responsibility will be used to attract and retain employees; diversity will be a business issue; Organization needs strong values;
◦ Social media literacy will no longer be an option;
◦Work‐life flexibility will become commonplace
What Does this Mean for Managers?
New hires will be using technologies much farther ahead than the companies hiring them.
Managers can now acquire, and integrate talent from around the world.
There are a host of new opportunities and threats.Must become “learning” organizations.“Average is Over” https://www.youtube.com/watch?v=vRWhUCjFqvU
Time‐to‐market is more crucial than ever. Growing need for cyber security and soft skills.Must structure appropriately for an overall e‐strategy – otherwise
the e‐project is likely to fail.
Recruiting for Success
Evaluate your recruiting tools… The “Best job on the block?” Pay attention to security and seniority (who is leaving, why?;
who is NOT leaving, why not?) Best practices: Centralized HR, innovative, technology
intensive, focused recruiting
Re‐evaluate your hiring practices – Need new strategies for hiring and retaining (EI)
Develop a “marketing” plan for recruiting … Get Creative “ABR” Focus on Key Metrics
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Best Resources for Recruiting
Focused advertising – compelling ads
Employee referrals (Bounty rewards)
Recruiting firms
Networking (customer and competitors)
Job Fairs
Headhunters
Internal candidates
Internet (job web sites)
Your web site
Others….
On‐Line Recruiting Sites
• http://www.indeed.com• http://www.careerbuilder.com• http://www.dice.com (tech jobs)• http://www.monster.com• http://SimplyHired.com• http://glassdoor.com• http://onmogul.com (platform for women)• http://www.ziprecruiter.com (wide net; posts to
multiple free job boards with one submission
• Social Networking Sites:• LinkedIn, Facebook, Twitter, Pinterest
Know What you Need
Take the Time to do it Right
The Best Predictors of Success
The Art and Science of Interviewing
Tests are a Tool, Not a Crystal Ball
Always, always, always…… Check References
Avoid Turnover from Day One
High Performance Hiring
9
Job Descriptions and Requirements Key Hiring Tools
Most Important… Most Neglected
A Few Basics Make a Huge Difference
Predicting Job Performance has Priority!
Two Simple Planning Tools …Many Potential Uses
Job Description Template
1. Job Title
2. Full or Part‐time
3. Department Name
4. Reports to:
5. Major Function and Purpose
6. Essential Duties and Responsibilities (%’s)
7. And other Related Duties as Assigned.
Job Requirements Checklist
1. Minimum Education
2. Minimum Experience
3. Knowledge and Skills Required
4. Consider General Mental Ability (GMA) and Integrity Tests (*conscientiousness) with Structured Interview for Highest Validity Predictors
A Good Interview is Planned
Establish Rapport and Expectations
Pace Questions Comfortably
Listen with your Ears and Eyes
Sell the Organization
Answer Questions, Explain Next Step
Check References, Administer Tests
Follow‐up and Document
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Targeted Questions:The Key to Hiring Success
• Closed‐Ended
• Open‐Ended
• Self‐Description
• Situational
• Probing
• Reflection
• Leading and Loaded
In‐Depth Interview (Example)1. Describe for me a typical day on your most recent job.
2. Which of your various jobs did you like the most? Why?
3. Why are you leaving your current position?
4. Describe an unpleasant, on‐the‐job situation in the past and tell me how you dealt with it.
5. What has been your single most noteworthy contribution to your present job?
6. Tell me about your experiences handling customer complaints.
7. What, in your opinion, are the pros and cons, of this job?
8. Was there any company policy or practice with which you did not agree in your last job?
9. What are some of your off‐the‐job interests and activities?
10. Describe what you hope your job here will be one year from now (responsibilities, pay level, title, etc..)
11. What will you be looking for in this job that you did not find in your past job?
12. What kind of references do you think previous employers will give you?
Avoiding Turnover: Onboarding Best Practices Every Manager Should Know
Get Prepared Before the New Hire Starts: first‐week agenda, comfortable work station, welcome gift, send out helpful information.
First Week: provide help getting acclimated, block time for orientation (first day is best), meet with manager(s), cover important work processes.
First 30 – 90 Days: training and job shadowing, opportunities for feedback, first review at 90 days.
MHEDA'S 2016 ANNUAL CONVENTION & EXHIBITORS' SHOWCASE
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NeverTolerate Poor Management
Pearl of Wisdom
Motivation: Feedback is Critical
Employees must know “where they stand”… Practice “Continuous Performance Appraisals”
Verbal and Nonverbal Communication Concerning Performance
Two Types of FeedbackPositive and Constructive Feedback
Feedback, Delivered Correctly, is Critical to Learning and Motivation
Delivered Incorrectly, is an Enduring and Destructive Experience
Effective Feedback
Getting People to Repeat Good Performance Consistently...◦ Positive Feedback, Describe Behavior
◦ Timely Recognition
◦ Customized Recognition
◦ Express Personal Appreciation
◦ Fair Reward (Perception IS Reality)
◦ Caution! Don’t Overdo or Mix
12
Developing Millennials to Manage Others
Millennials Engage Best in Companies with a Strong Sense of Purpose
Get them Ready ‐ Focus early on Building Management Fundamentals
Allow them to Operate as “Intrapraneurs”• 78% of millennials consider ability to innovate in evaluating job offers
• When asked for biggest barriers to innovation?• 63% say management attitude• 61% say it’s operational structures and procedure• 39% say it’s employee skills, attitudes and lack of diversity
Training: The Premier Strategy for Improving Productivity Training vs. Education
Improvements Result from Managed, Proactive Change
Should Focus on Learner and Getting Workers Information quickly – IAYF. Develop a Learning Management System) LMS with combined approaches (e‐learning, lunch & learn, MOOCs).
Search for Training Needs: Training Needs = Ideal Performance ‐ Current
Training Should be Hierarchical, Synchronous, and Easy to Understand!
Establish Link Between Training, OTJ Performance, and Feedback/Rewards
Top PriorityMust Plan Strategically for the Future
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You Know You are Managing Strategically When…You have a strategic plan for the future of your company….written down;
Your company’s priorities/actions are a reflection of it;
Your employees know the plan and have the training, resources and incentives to achieve it;
You are setting benchmarks and measuring outcomes in terms of “Key Results” on a timetable; and
You are communicating those outcomes and making adjustments to the plan as needed.
Management Musts for 2020
•Be prepared to engage the new, more diverse generation of employees – get fluent in the new language of business.
•Be prepared for the new wave of employment options.
•Get connected! Recruit online and use online systems.
•Build a personal, more inclusive and open employee experience.
•Create a learning culture that embraces innovation and change.
•Get innovative with technologies using video to allow people to communicate, learn and collaborate.
•Develop your strategy for success.
Thank You!