Post on 18-Jan-2015
description
Dr. Peter Vogel
Intra(Entre)preneurial Solutions to Recruit and Retain Tomorrow’s Leaders
www.petervogel.org
Outline The Youth Labor Market • Youth unemployment crisis and a war for talents • Causes and drivers
The Next Generation • Generational changes & next Gen Profiles • What tomorrow’s leaders expect
What You can Do to Recruit and Retain Tomorrow’s Leaders • Recruiting trends • Entrepreneurship as career choice
Intrapreneurship Ecosystems: Unleash the Talent of Future Leaders • The Workplace of the Future
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I: Youth Labor Market Crisis
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Youth Unemployment vs. War for Talents
War for Talents
• Only a myth as predicted in 90s? Yes & no
• One in three employers have difficulties
finding qualified personnel (Manpower)
Youth Unemployment
• 75m young people officially unemployed
• (ILO, 2013)
• Particularly high in developed world
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Youth Unemployment Europe 24%
Data Source: Eurostat Youth (< 25 years)
+ 58%
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Youth Unemployment OECD
Data Source: OECD (Feb 2012)
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Youth Unemployment Worldwide
Source: ILO (2013)
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Youth Unemployment: Lost Generation
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Youth Unemployment: Causes
No Guidance
Lacking Experience
No Career Vision
Crisis No Perspective
Generational Change
Lack of Credibility
Increased Productivity
Biased Self-Evaluation
Skill Mismatch Baby Boomers Aspirations
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Causes & Drivers: Mismatch
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II: Understanding the Next Gen
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Digital Natives
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Generational Change The GI and Silent Generations (1901-1945) • Life before TV / WW I and WW II • Respect hierarchy The Baby Boomers (1946-1964) • Work on typewriter / revolutions • Distrust authority
Generation X (1965-1982) • Work on word processor / tough economic times • Don’t trust anyone
Generation Y (1982-1990) • Work on computer / growing up in stability • Environmentally conscious / Dual-income parents Digital Natives (Gen Z) (1991 – present) • Virtually connected / exposed to a global competition • Worried about future / seek security / reduced loyalty
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Digital Natives What will future anthropologists say about Digital Natives?
• Speed & convenience: always connected, act quick & reflect little
• Privacy: Low barrier to share private information
• Social skills / virtual life: Global virtual friends replace real ones
• Shift of basic skills: Many kids cannot write/read cursive
• Exposure to lots of information: Desensitization
• Global mobility: willingness & possibilities to move around
• Nationality: Sense of nationality will vanish due to blurring integrity
• Single life: Divorce rates increase, loyalty towards others decreases
Gen Z on the job market in 2014 / 2015
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Digital Natives – Career Choices
© Jobzippers
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III: Recruit & Retain Tomorrow‘s Talents
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Recruiting Trends Some “Old” New Stuff
• Mobile and video recruiting
• Recruiting through social networks
• Social headhunting
• Webinars and virtual career fairs
Some “New” New Stuff
• Customize the Job to the talent and not vice versa
• Targeted and personalized recruiting
• Re-focusing on corporate branding to stand out of the crowd
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By now you all should have this... 28 million fans 1 message, 28 mio readers…
Jobs in Social Media Spread the jobs
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New Ways of Talent Recruiting
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New Ways of Talent Recruiting
Targeted and Customized Graduate Recruiting
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New Ways of Talent Recruiting
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Retaining Talents What employers need to do to retain us at the company?
… less formal and bureaucratic and more open and empowering …
… say why they’re doing what they’re doing. Where can we go together? …
… creativity, choice and flexibility …
… create genuine values …
… MAP: mastery, autonomy, purpose …
… stock options …
… flexible work style… virtual team structure …
… 3Fs: fun, flexibility, and food …
… employers should get more comfortable with intrapreneurs … . . .
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Workplace of the Future
New Organizational Structures
• Meaning: One’s contribution must fit into a bigger puzzle
• Vision: Give them a clear vision so they can have an impact
• Culture & Community: Create a strong community they identify with
• Flexibility: Be more flexible while still offering guidance
• Instant Rewards: Create small & instant rewards as opposed to big steps
• Social Media: Be open about social media. Don’t ban Facebook etc.
• Mentoring: Cross-generational mentorship
• Intrapreneurship: Building intrapreneurial ecosystems
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Entrepreneurial Intentions of Students
• The % of people who want to start a company increases 10-fold after 5y
• There exists a large intention – action gap.
Embracing Entrepreneurship as a Career
Employers can harness this potential by embracing entrepreneurship
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IV: Intrapreneurship Ecosystems
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Building Intrapreneurship Ecosystems
© The Entrepreneurs’ Ship®
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Building Intrapreneurship Ecosystems
Building A Culture of Innovation
• Live honest company values & share a clear vision
• Involve all employees in the idea generation process
• Embrace a culture that accepts failure
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Building a Culture of Innovation (1/3)
Netflix Corporate Values
Honest Company Values
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Building a Culture of Innovation (2/3)
Involve all Employees in Idea Generation
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Building a Culture of Innovation (3/3)
Embrace a Culture that Accepts Failure
“Only those who dare to fail greatly can ever achieve greatly” – Robert Kennedy
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Building Intrapreneurship Ecosystems
Creating an Architecture for Innovation
• Establish creative and fun workspaces
• Launch idea labs and flexible commercialization processes
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Building an Architecture for Innovation
Build Creative and Inspiring Workplaces
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Building an Architecture for Innovation
Launch Idea Labs and Places to Try New Things
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Building Intrapreneurship Ecosystems
Talent Management for Innovation
• Educate for creativity and innovation
• Customize rewards to the individual
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Talent Management for Innovation
Educate for Creativity and Innovation
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Talent Management for Innovation
Customize the Reward to each Employee
Monetary Visibility More Challenging Tasks
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Building Intrapreneurship Ecosystems
Communication and Collaboration for Innovation
• Pivot ideas with stakeholders
• Leverage the network through open innovation
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Communication and Collaboration
Pivot Ideas with your Stakeholders
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Communication and Collaboration
Leverage Networks through Open Innovation
Co-‐Development
Venturing Co-‐Branding
Crowdsourcing
In-‐ & Out-‐Licensing Spin-‐Offs
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Building Intrapreneurship Ecosystems
Creating a Marketplace for Capital
• Build entrepreneurial processes to select winning opportunities
• Balance M&A activities with intrapreneurship
• Create an internal crowdfunding portal
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Creating a Marketplace for Capital
Create an Internal Crowdfunding Portal
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Concluding Remarks When building an Intrapreneurial Ecosystem, consider…
• Each ecosystem is unique à What is the USP?
• Developing an ecosystem requires a multi-stakeholder approach
• Intrapreneurship ≠ Entrepreneurship
• Bureaucracy blocks innovation
• Holistic implementation
• Coordination and supervision
• Focus on heroes first
• Intra(Entre)preneurial culture is the key!
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Readings: Vogel & Fischler-Strasak. Fostering Sustainable Innovation Within
Organizations: Building Intrapreneurial Innovation Ecosystems (Springer Publishing, 2014)
Vogel. Avoiding a Lost Generation: Turning the Youth Unemployment Crisis into
an Opportunity (Palgrave MacMillan Publishing, 2014)
peter.vogel@entrepreneursship.org www.petervogel.org
@pevogel