Retaining Millennials copy

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'


Theories & Frameworks

nPow

nAch nAff

French and Raven’s Power Theory

McClelland’s Acquired Needs Theory:

Need for Achievement, Power & AffiliaBon

Dual Concern Model


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


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


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


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


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


Retaining Millennials copy

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