Millenial e-book 18.4.2016 v.2

9
5 WAYS TO MAKE YOUR COMPANY MILLENNIAL-READY

Transcript of Millenial e-book 18.4.2016 v.2

Page 1: Millenial e-book 18.4.2016 v.2

5WAYS TO MAKE YOUR COMPANY

MILLENNIAL-READY

Page 2: Millenial e-book 18.4.2016 v.2

BY 2020, MILLENNIALS WILL ACCOUNT FOR 80% OF THE WORKFORCE GLOBALLY They are the most technologically advanced, diverse and disruptive generation in history. HR leaders need to alter working practices to attract and retain talent from this game-changing generation.

SO, HOW DO YOU ENSURE YOUR COMPANY IS MILLENNIAL-READY?

Page 3: Millenial e-book 18.4.2016 v.2

1. 2. 4.

BE FLEXIBLE

BREAKDOWN TRADITIONAL HIERARCHIES

OFFER NEW EXPERIENCES

LEAD WITH TRANSPARENT

VALUESGIVE REGULAR

FEEDBACK“Flexible working hours and a good work life balance”

“I don’t want my age to restrict me”

“Travel overseas to experience working in

different places”

“I must believe in the company’s vision”

“I need regular engagement and

feedback”Laura Lam, Hong Kong, Law, 27

Rhys Gillmer, Australia, Marketing, 22

Fabian Au, Singapore, IT, 26

Chee Estanislao, Japan,

Human Resources, 30Stephanie Lim,

Malaysia, Finance, 26

3. 5.

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CASE STUDY:ANZANZ Bank transformed staff engagement and productivity by implementing a ‘Playbox’ of different furniture and technology to match different ways of working.

The Australia and New Zealand Bank Group’s Head of Workplace Ken Lynch explained how the bank set about identifying 14 different ways of working and providing specific furniture and technology kits to match those options.

“It is all flexible and reconfigurable. Meeting rooms expand and contract, even the kitchens are on wheels and can be changed,” he said.

The bank ran Playbox pilots and in one team staff engagement jumped from 30% to 90%, speed of decision-making went from four days to four hours and a new banking app was taken to market six months faster than predicted.

Source: https://lnkd.in/fJgJYVJ

BE FLEXIBLE Millennials no longer view their career as merely a means to make money. Flexibility and work-life balance is key to entice millennial talent to your company.

1.

Source: ilrdc.org

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Source: https://lnkd.in/f4eyMBD

Ryan Holmes, founder of Hootsuite, has worked hard to avoid the traditional hierarchies of larger firms. Rather than having a management team which dictates to more junior employees, the firm has instead strived to give individual teams more power.

It has also created a so called “guru track” to enable those in the company who don’t want to become traditional leaders to still achieve some kind of recognition. “[It’s about] how can we help this person progress through their

career as an amazing engineer, instead of the only track is to become a leader or a manager”.

Gurus may be awarded the reins of progressively larger projects with bigger budgets, freed from daily responsibilities to work on new problems and product lines, asked to mentor promising new recruits or tapped as thought leaders. Promotions are based not on team performance but on individual impact within an organization and deepening or widening of skill sets.

BREAKDOWN TRADITIONALHIERARCHIES

2.

Millennials want to work at companies where their skills and contributions are rewarded, and where their ideas are heard — regardless of tenure, seniority or status. By breaking traditional hierarchies, companies can harness ideas, passion and energy to fuel future success.

CASE STUDY:HOOT UITESource: Hootsuite

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OFFER NEW EXPERIENCES

3. Millennials prioritize experiences, and they bring this mentality to work. They see value in experiencing other cultures, expanding their personal and professional networks, and mastering new industries and ways of working.

About 34% of Malaysia-based Maybank’s workforce is comprised of millennials, a 17% increase in the past five years. The bank boasts a 90% retention rate of its young workforce. “In ASEAN which is home to 600 million people, a staggering 60% are millennials. This means that ASEAN leaders have the huge responsibility to ensure our millennials have the skills and resources to achieve their potential,” said Puan Nora Abd Manaf, Maybank group’s Chief Human Capital Officer.

Maybank offers its employees cross-regional and sectorial rotational programs to ensure

staffare equipped with knowledge and skills from at least three of Maybank’s technical functions or processes.

More sophisticated international assignments and regional projects have been introduced to build up staff capabilities and regional experience. Diverse teams help further leverage this talent development process. Out of 10 Maybankers in a team, there will be at least two from outside the local country. Currently, there are more than 100 talents involved in these assignments.

CASE STUDY:MAYBANK

Source: https://lnkd.in/fusB2iY

Source: Maybank Facebook

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LEAD WITH TRANSPARENT VALUES

4.

Social media has revolutionized the way in which we communicate. Transparency has become an expectation. Companies must clearly and openly communicate their values, and ultimately their purpose, in order to appeal to millennial talent.

The Information Technology giant has recently made it to the top 5 great places to work in Singapore. Jairo Fernandez, Senior Vice President of HR – Asia Pacific and Japan at SAP, says “We know what makes our employees tick; we know what will maintain their interest in being a part of the SAP team: a strong company culture and a collaborative work environment.”

SAP subscribes to the philosophy of a “Learning Culture” where everyone is a teacher and everyone is a learner.

It boasts a well-articulated SAP culture in the form of five ‘How We Run’ behaviors that form the basis of the company’s conduct and success.

These five behaviors were devised through employee feedback, and guidelines on how to incorporate them into daily working life are highly visible on the company’s internal networking program, Jam.

Source: https://lnkd.in/fXMpjj6

CASE STUDY:AP

Source: HR in Asia

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Source: https://lnkd.in/fkvMWHY

GIVE REGULAR FEEDBACK

5. Companies need to invest in employee development. Providing regular, formal feedback ensures the success – and longevity – of millennial talent.

CASE STUDY:UNILEVER A IAAt Unilever Asia, every employee counts. The consumer goods firm speaks with all its employees about what they want to achieve and then devises steps to help them reach their goals. The employees are also given mentors and regular training.

Lennard Boogaard, Unilever Asia’s Vice-President for Human Resources in Southeast Asia and Australasia, said: “For us, it is very normal that you sit together with your line manager to discuss your future. This is in our DNA - a commitment to the success of our people and a focus on constantly developing at all levels.”

“The learning strategy of Unilever is founded on ‘winning with people’, ultimately helping them to develop and grow to become the best versions of themselves. The best part is, everyone has access to these learning opportunities, anytime, anywhere, and the leadership commitment to this is strong, with the senior leadership leading by example,” says Tricia Duran, HR director, Unilever Asia.

Unilever’s learning and development framework is fully integrated within its Four Acres Leadership Curriculum, the Unilever Future Leaders Programme (UFLP) and the newly launched Learning Hub.

Source: Unilever Asia

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