Understanding Generations in the Workplace

Millennial managers in the workplace will have your back… your feedback!

How do the Millennial managers drive the insurance industry to be feedback driven?

I was recently pulled over by a police officer because I was speeding. (Hopefully, my insurance agent does not subscribe to this publication.)

It’s embarrassing enough getting a speeding ticket but imagine my embarrassment when I rolled down the window. I looked at the officer and blurted out: “You’re not old enough to have a driver’s license, much less write me a ticket!”

As she wrote the ticket, it dawned on me that I was guilty of something that many of my baby boomer parent’s friends are guilty of. They have this frozen picture of me in their mind as a kid. They struggle with the idea that I am an adult, live on my own and have a job. (I am capable of getting speeding tickets.)

The Millennials

Many of us have similar thoughts about Millennials.

The oldest millennial was born in 1981. That makes them about 38 years old. When I was 38, I already had a divorce under my belt and was remarried!

So, the idea that they are just out of school and new to the workplace is really outdated.

Millennials are poised to take over the world. Okay, maybe not the world but they definitely are the next wave of workers, thinkers, and managers who will reshape the insurance industry.

According to the Pew Research Center, Millennials are the largest generation in the workforce. Thirty-five percent of the workforce is made up of Millennials.

Millennial Managers

More importantly, Millennials are not content to sit on the sidelines and wait for an opportunity to text them an invite. Savvy Millennials recognize that as Baby Boomers leave the workplace to pursue their retirement dreams, there are not enough Gen Xers to assume the vacant leadership and management roles. Currently, 28% of Millennials are in management positions. Compare that to 2013, when Millennials held only 12%. That is a 133% increase in less than six years!

Do not be fooled into thinking that if the Millennial sitting next to you at the community table does not have the word manager in her title means she thinks her influence over business and how it operates stops there. Millennials perceive themselves as leaders, even if their titles don’t reflect a leadership position. According to The Hartford’s Millennial Leadership Survey, 80% of Millennials view themselves as leaders today and more than 75% aspire to be leaders beyond today and well into the future.

Millennials Want to Hear from Their Managers

Just like Millennials have forced the insurance industry (and nearly every other commercial enterprise) to rethink recruiting, training and compensation, millennials will push the rest of us to reexamine our perception of what makes a successful manager and leader.

Feedback is Your BFF

I mentioned earlier that I am a Gen Xer. We are notorious for our Lone-Wolf attitude towards work. Tell us what to do, give us the tools and training to do it and then leave us alone. No news is good news. When I began my career, I dreaded hearing from my manager. My stomach would sink every time I heard his voice on my voicemail. Why? Because he would only contact me if something was wrong.

This is not the case with Millennials. Millennials want to hear from their managers, and they want to hear from them often!

Millennials Will Manage People the Way They Like to be Managed

Sixty percent of Millennials report they like connecting with their managers at least once a day. If they do not hear from their managers daily, they want feedback weekly. Forty percent of Millennials want feedback every week, much more than Gen Xers or Baby Boomers want to hear from their supervisors.

According to a CLUTCH HR Employment Survey, more than 70% of millennials are satisfied at their place of employment when they receive detailed feedback from their supervisors.

What does this high value placed on feedback mean as Millennials assume more management and leadership roles?

Like the generations before them, many Millennials will manage people the way they like to be managed. This means giving people feedback frequently. The traditional annual review or giving feedback when it is convenient is going to fall by the wayside with Millennial managers.

Here are some of the ways Millennial managers are creating organizations that are feedback driven:

1. Stay Interviews

Kortney Evans, a Millennial manager at a mid-sized insurance firm, implemented Stay Interviews with her team. The purpose of a Stay Interview is to understand why people on your team stay and what may cause them to leave.

“We typically wait until the exit interview before asking someone why they are leaving. At that point, it is too late. We may be able to fix the problem for future employees, but we have lost the one employee who could have probably best helped us understand the problem.” Says Kortney.

According to Beverly Kaye, author of Help Them Grow or Watch Them Go, examples of Stay Interview questions are: What is your dream job? What is bothering you most about your job? And, what about your job makes you want to jump out of your bed?

A Stay Interview lasts about thirty minutes. It can be performed at regular intervals or whenever a manager thinks it is appropriate. The Stay Interview gives Millennial managers insights into their teams’ individual motivations and allows them to personalize their feedback with their employees.

2. Scheduled One-on-Ones

Shea began his career in procurement but switched jobs to work for an independent insurance agency. He felt his previous employer did not have a career path in place for him. He was recently promoted to a management position at his agency.

“One of my biggest disappointments with my previous employer was lack of guidance or help with the next stage of my career. I wasn’t sure how to move my career forward and it frustrated me there was nobody at the company talking to me about what next steps I needed to take.” Says Shea.

To ensure the same mistake did not happen when he became a manager, Shea implemented scheduled monthly conversations with each member of his team.

The conversations typically take about 15 to 30 minutes. During the conversation, he focuses on what the employee has learned so far and what does he want to focus on moving forward.

Questions to Ask during the One-on-Ones

Some of the questions Shea asks his employees during the conversation include:

• What’s something new that you have learned or what skill have you improved since we last talked?

“The importance of this question is that sometimes we forget what we have learned. This question brings the company’s training efforts to the forefront of the employees’ mind.” Says Shea.

• What would you like to learn this month?

Shea points out that the answer does not always lie within his department. Maybe the employee wants to spend time with the sales team and develop sales skills.

• What is your proposal for advancing these skills?

“I have found my employees often have already thought of solutions to some of the roadblocks to advancing their training. As a new manager, I had to learn, it is not my job to find all the answers to my employees’ challenges. They typically have great ideas on how to make it happen.” Says Shea.

• What resources can I help you with?

“This question tells me how much assistance my employee wants from me and gives me a guideline moving forward.” Says Shea.

3. Ditching the Annual Review

As the Millennial generation entered the workforce, they forced the older generations to examine the usefulness of the annual review.

Millennials, a generation driven by timely and accurate feedback, had about as much use for the annual review as they did a typewriter. According to a People IQ survey, more than 85% of supervisors and team members felt annual reviews were not worth the paper they were written on.

“I always felt annual reviews spent more time talking about the employee and not talking to the employee.” Says Hannah Cambridge a Millennial manager.

As managers, Millennial’s quest to make the annual review extinct has not abated. Youth-led organizations and mainstream companies alike are scrapping the annual review to a more Feedback Driven approach.

Facebook, one of the most famous Millennial owned companies, utilizes a biannual review process. The employee evaluates themselves and then nominates three to five peers to evaluate them. The managers discuss the write-ups and compare the assessment with other assessments from different employees in comparable roles.

It is not only Millennial owned companies abolishing the yearly review but mainstream corporations too. Netflix, (Full disclosure I do have a Netflix account!) put the kibosh on annual reviews and launched a less formal “360-degree review.” The review is performed by the employees’ peers and is often done face-to-face. The process focuses on three questions:

1. What should the employee stop doing?
2. What should the employee start doing?
3. And what should the employee continue doing?

Making Feedback a Priority

One may feel that all this talking is too time-consuming. If Millennial managers are continuously giving their teams feedback how will anything get done? Maybe we should be doing more working and less talking.

In reality when people feel heard productivity increases within all the generations. According to Harvard Business review high performers, people who exceed expectations and go above and beyond every day, want to meet with their leaders to discuss their progress at least monthly. Giving people feedback has positive side effects. It keeps people engaged, informed and satisfied in their jobs.

I will admit, I wish I could go back in time & swap out my manager, the one who I absolutely hated to hear from, for a manager intent on making feedback a priority. I may have had a more rewarding experience with my employer if I had someone who viewed feedback as an opportunity to learn from both sides.

As it is, I have a piece of feedback from a Millennial I wish I never received…my speeding ticket and an increase in my insurance rates!

In this second segment of ‘How Strong Leaders Recruit Smarter‘, let’s discuss the actual HOW!

Note: If you missed part 1 – you can watch and read it here: How Strong Leaders Can Recruit Smarter.

According to the US Department of Labor, the cost of hiring the wrong person can cost an organization 30% of the employees first-year earnings.

As a business owner, manager or HR director, you know the wrong hire can threaten the lifeblood and morale of your company.

How Strong Leaders Recruit Smarter

So, let’s discuss specifically, what can leaders do to make smart recruiting choices when it comes to capturing multi-generational talent.

During this segment, we’re going to address what you, the employer can do differently during the application process.

Meaning the application itself.

• What does the application say about your company?
• Is the application clear and concise, or is it a clunky hassle to complete?

According to a career builder survey, 60% of potential job hires quit filling out a job application.

Why?

Because the application itself had too many steps, making the process of completing it taking too long. It contained way too many complicated questions.

How Strong Leaders Recruit

Let’s look at Tuft and Needle, a mattress company started by two millennials. I’ve used this company as an example of a company doing some really interesting things to attract multiple generations. Full disclosure, I’ve never bought one of their mattresses and I have no financial interest in this company whatsoever.

I went on the website to look at what their application process was like. Some wonderful photos, a little information about what it’s like to work at their company. Their application process is breathtakingly simple. There is, in fact, a little button I can click to remind me to apply later if I don’t have time to do it now.

But… Let’s do it now.

It asked me my first name, my last name, my email address, and my phone number. I attached my resume. I may attach a cover letter. Then they ask me why do I want to work at their company. Fair enough question. And lastly, to explain where and how I heard about their job opportunity.

That is the application. That’s it. Easy, breezy.

How Not to Recruit

I decided to compare this experience with applying for a job with a huge retailer. I’m not going to reveal the name of the store. I will admit, I shop there often. I buy their clothes and I like them. I was predisposed to feel positive about their hiring experience, too.

BUT… I was flabbergasted and frustrated. I spent 45 minutes filling out the questions in their application. Some questions were asked more than once! They just reworded it differently. I attached multiple forms and on page five I click ‘Next’. I receive an error message! Page not found. Okay, so obviously there’s a glitch in the system. However, as an applicant, I was asked to restart the process all over again.

I will tell you that very few people will have that sort of patience!

What to Make Sure Of During Recruitment

Make sure your job application is clear, concise and eliminate unnecessary questions. And of course, try to make sure there are no software glitches.

Two years ago, Home Depot filled more than eighty thousand positions in their stores and sped up the online application procedure by 80 percent by getting rid of ‘filler’ questions. They focused on questions that really mattered.

I had an audience member say to me: “But Megan, I like lots of questions because what lots of questions do on an application is, they weed out undesirable candidates.”

That is actually false for one thing. A good candidate who has a lot to offer knows he’s a good candidate. And there’s a high chance he’s not going to monkey around with unnecessary questions on your application.

Application Rates and Questions

According to a study by recruiting company, application completion rates dropped by 50% when an application has more than 50 questions. Compared to an application with 25 or fewer questions.

So let’s go back to Home Depot to assist candidates in a self-screening process. Before they even fill out the application, they added five value based questions on their career page.

Here are the questions:

1. Do you love helping customers?
2. Are you a team player?
3. Do you enjoy selling?
4. Do you have respect for all people?
5. Do you want to build something?

They really lost me at question number five! I wouldn’t be a good home depot employee. I am not much into building things.

What About an Ability to Selve Schedule an Interview?

They also implemented a smartphone tool that gave applicants the ability to self schedule their interview.

Speaking of smartphones, is your job application mobile-friendly? This may seem like a no-brainer, especially when it comes to recruiting the highly coveted millennial generation. In reality, however, baby boomers, Gen Xers, and Millennials are increasingly using their phones to look for jobs.

According to zip recruiters, 70% of potential hires will use their mobile devices by searching for a new job.

Your Company’s Job Application

Has it been a while since you looked at your company’s job application?

Try filling it out for yourself! Or better yet, give it to your kids, your friends, or your family and ask them to fill it out. And ask them to give you some honest feedback.

A good application will not only solicit the info you need but allow a candidate to showcase his or her strength.

In the next segment, we will discuss some crazy recruiting ideas. Until then…

This is the first segment in a three-segment series about how strong leaders recruit smarter.

Prior to 2008, generational speakers and experts were talking about what’s going to happen when all the baby boomers begin to retire. Baby boomers, people born between 1946 and 1964, represent about 20% of the American public.

In the brochure I created back in 2006, I have a quote from the Bureau Bureau of Labor Statistics and it reads: “By 2008, 22 million people have left the workforce to retire. Who do you have to replace them?”

We all know what happened in 2008 – the Great Recession. And baby boomers did not retire. In fact, the news was filled with stories of baby boomers postponing retirement and staying in the workforce. What was predicted in 2008 is that baby boomers would stay in the workforce for another 9 to 10 years. Fast forward, here we are 10 years later and we are witnessing a version of that prediction coming true.

According to AARP, 10,000 baby boomers turn 65 every day. Combined with low unemployment in the strong economy, we are now experiencing a labor shortage. 60% of employers struggle to fill job openings within the first 12 weeks. That struggle is just going to get worse. Hiring managers, recruiters, HR leaders, and HR directors are all experiencing a talent crunch. They are complaining that there are no good people out there.

How Leaders Recruit

We know that a good leader solves problems. Maybe the problem is not so much that there’s a lack of candidates, but the way your organization is recruiting talent. You might be unaware of the roadblocks your company has in place when it comes to finding strong talent. Your company could be sending off the wrong vibes. Vibes of ‘you do not want to work here’.

The millennial generation, the largest portion of the workforce today can sense that vibe a mile, or better yet I click away. People are not even applying for the jobs you so desperately need to fill.

How do you challenge the old ways of recruiting and tap into a qualified and energized millennial and multi-generational workforce?

This is the first segment in a three-segment series about how leaders can recruit smarter.

How to Recruit Smarter

The first step is to look at your job postings. They can spend about 30 seconds reading your job posting before moving on. You want the verbiage in your post to be friendly and up-to-date. Many job postings list endless essential requirements that few if any working people possess. If the candidate does not possess all those qualifications, he/she will be discouraged from applying.

For example, the four-year degree qualification. There are so many people that are smart and do not possess a four-year degree. Having the degree is not a necessary indicator that the applicant will be good at the job.

For example, a customer service representative. I found plenty of jobs postings for a customer service representative that lists a 4-year degree as a qualification. Why? A good customer service representative is a problem solver and a solid communicator. A college degree is not necessarily an indicator they will be good at either those two things!

A Little Insider Knowledge…

One of those organizations that lists a college degree is its qualification to be a customer service representative, their CEO doesn’t possess a college degree at all. I mean it’s kind of hypocritical.

Minimum years of experience – that’s another unnecessary barrier. Yes, certain jobs do require experience. We all want the pilot flying our plane, or the doctor cutting open our loved ones to have a few rounds under their belt.

Studies show that 61% of entry-level jobs list a requirement of three years of experience. Three years of experience does not sound entry-level to me! Plus with a constantly changing skill set of the workforce, jobs that previously took years to learn, have changed. Many college graduates with zero years of experience would be perfect for the job opening.

How to Nail a Job Posting?

Is your job posting filled with non-quantifiable filler words?

For example – a self-starter. We see this one a lot. A multitasker – that’s another one. We all multitask, but interesting there are some tasks that we are better at when we don’t multitask! You’d rather have someone that can focus. Excellent communication skills – that’s another one. You’re going to know if this person is a solid communicator within seconds of communicating with you. You don’t need to list it as a job requirement!

My favorite waste of space in a job listing is out of box thinker. We have beat this one to death. I mean, if you’re saying things like out of the box, people already think you’re in the box. And again, being an out of box thinker, it can’t be proven.

Strong Leaders Recruit Smarter

Let’s get rid of the qualifications that are not necessary.

Another tip – read the resumes. Yes, I know, companies use applicant tracking systems that screen resumes based on keywords. I understand the advantages of using these types of systems. The drawback is you could be eliminating a strong candidate
because he/she does not have a keyword in a resume.

Take some time and read the resumes. You’re putting together your dream team here, it’s worth a little resume reading to get there.

The techniques we’re going to be discussing in a three-part series are designed to attract the millennial generation. However, effective leadership techniques are not limited to just one generation.

Positive changes in the way your company recruits employees increases multi-generational success. Next week we will look at mistakes you are making during the application process and some outrageous successful recruitment campaigns.

Millennials and reading is a big topic, as they redefined the reading habits. They read differently… But first, let’s start with a little bit of a background…

Has reading books gone the way of VHS tapes and talking on the phone?

My mom once told me, “If you like to read and have something to read, you are never bored.” She was probably responding to the 10-year-old me complaining there was “Nothing to do.” I have to give her credit. She was right. A long plane ride, an endless wait in a doctor’s office or an afternoon at home can be transformed into a fabulous few hours if you are reading a good book.

Generations and Reading

Reading a magazine or newspaper articles are great ways to beef up on current events and celebrity scandals, but they do not have the ability to completely absorb your attention and transport your entire mental state into a different universe.

I will admit it, I am a book snob.

I really have my parents to thank for my enthusiasm for reading. As a kid, before I could read, my dad read to me every night. I have nostalgic memories of visiting the public library with my father where there were not only tons of books from which to choose, but there always seemed to be something interesting happening. An author reading her book to a group of children or a kid’s theatre group performing. My mom preferred going to bookstores. She would cut out the best sellers list from the Sunday paper, start from the top of the list and work her way down.

Do Millennials Read?

As a Generational Speaker, I wonder: ‘Does the Millennial Generation like to read?‘

We hear so much about the Millennial’s addiction to technology and we have watched the big booksellers slowly leak away from our shopping sphere. Is reading relevant to Millennials?

Turns out it is!

According to the most recent Pew Research Center survey I could find, Millennials are reading more than older generations. They are more likely to have read a book over the past year compared to a Baby Boomer and Gen Xer and they read more than my generation (Generation X) did at the same age.

Millennial Reading Habits

What really shocked me was their preference for a physical book vs an E-Reader!

According to Nielsen Books and Consumers, Millennial’s physical book buying has continued to increase and now represents over 35% of the market. According to the same study, greater than 80% of Millennials are putting their reading funds towards books they can hold vs download.

Some experts attribute the rise of Millennials’ penchant for physical books to the psychology of ownership. There is a greater physical satisfaction owning a physical book vs downloading the digital edition. I credit it with young eyes. I have successfully postponed the need for reading glasses with my Kindle app. There is no need for bifocals when you can increase your reading font to something that can be read from outer space.

Books and Millennials

I was first in line to buy the iPhone X. Not for the superior camera or facial recognition but for the XL size screen! It makes reading my text messages like reading subtitles off an Imax movie theatre screen.

Ageism antics aside, learning that Millennials place a high value on reading books was a tremendous way to begin the new year for me. Whether reading books, blogs, poetry, editorials or obituaries, reading someone else’s thoughts and feelings not only challenges our own perceptions but pushes our imagination to places we would not have previously visited.

I hope 2019 is full of exotic food, fabulous reading, and many generations!