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Retaining Millennials
2014
Am I a Millennial?
Kathryn Van Arsdale – Columbia University Capstone 2014
Millennial'Employees
CEO
Board'of'Directors
Human' Resources'Management
Corporation
Autonomy'
Purpose'
Health'Benefits'
Perks
Technology
Visibility'
Mastery'
Collaboration
Creativity'
Employment'
Intervention
InterventionDirect+CommIndirect+CommMillennial+DesireCompany+LeversEconmic+Need
Primary'Actors
KEY
Secondary'Actors
Social'Fabric
Econmic'Factors
Tomorrow's' talent'clashes'with'today's'workplace:'#RetainingTheMillennials+
Upward'Mobility'
Kathryn Van Arsdale – Columbia University Capstone 2014
Kathryn Van Arsdale – Columbia University Capstone 2014
Theories & Frameworks
nPow
nAch nAff
French and Raven’s Power Theory
McClelland’s Acquired Needs Theory:
Need for Achievement, Power & AffiliaBon
Dual Concern Model
Kathryn Van Arsdale – Columbia University Capstone 2014
Methodology, Analysis and Interpretation
Phenomenology the “lived experiences” of a phenomenon
Analysis
IdenCfied clusters of meaning and trends across several different interviews as well as electronic survey data
InterpretaBon Millennials want.. 1) Work life Balance The right balance of work, and interesCng appealing work 2) New OpportuniBes The ability to learn new skills, and also have a clear career path 3) Company Culture A company culture that reflect their personal values
Kathryn Van Arsdale – Columbia University Capstone 2014
Why must business change?
1. Business must retain knowledge and minimize producCvity loss 2. Minimize recruitment and training costs 3. Build a pipeline of talent to fill leadership gaps
Kathryn Van Arsdale – Columbia University Capstone 2014
Resolution Strategies
• Employee Engagement Process • World Café • Leadership Dojo
Overarching Strategies
Examples of intervenBons
• Expand Hierarchy • RotaConal Programs • Career Coaches and Clear Career Paths • Internal PromoCons • Classes and Training • Flexible office hours • Bring your parents to work day • GamificaCon for goal se]ng • SabbaCcals to reward tenure • Reward Budgets – power to reward
peers Kathryn Van Arsdale – Columbia University
Capstone 2014
Millennial'Employees
CEO
Board'of'Directors Human' Resources'Management
Corporation
Employment'
Intervention
InterventionDirect+CommIndirect+Comm
Millennial+DesireCompany+LeversEconmic+Need
Primary'Actors
KEY
Secondary'Actors
Social'Fabric
Econmic'Factors
Tomorrow's'talent'incorporates'into'today's'workplace:'#RetainingTheMillennials+
NonLMillennial'Employees
Executive'Managers
Intervention
InterventionUpward'Mobility
a)'Learningb)' Leadership'
Company'Culture
WorkLLife'Balance
Kathryn Van Arsdale – Columbia University Capstone 2014
Networking and Sustainability
Challenges • Top down hierarchical system
requires buy-‐in • Status Quo persists in office
environments • OrganizaCon needs to be
ready for the change Strategies • IdenCfy brokers • Get clear buy-‐in from the elite • Close structural holes around
the Millennials • Get the enCre company
involved in the changing culture
Kathryn Van Arsdale – Columbia University Capstone 2014
Networking and Sustainability
How does network map support this? • Expanded the actors, to break down homophily
groups • IdenCfied the most salient social and economical
structures • Enhanced the dynamics, to close structural holes
and engage the enCre company, rather than just Human Resources
How will you know sustainable change is occurring? • Employees understand both the freedom and the
boundaries in place, so innovaCon can take place • Employee start having fun at work which improves
their workflows and producCvity • Employee take ownership and make decisions • Visible spikes in morale, from having the right
people in the right jobs. Kathryn Van Arsdale – Columbia University
Capstone 2014
Q&A
Kathryn Van Arsdale – Columbia University Capstone 2014