How to attract, develop and retain talents in 2014
Several sources indicate that in 2014 businesses will find it increasingly difficult to attract, retain, and develop their people. Here’s the key challenges organizations will face this year:
Developing an attractive workplace for Millenials
Millenials are entering the workplace at growing rates. ASTD calculated that they are already 34% of the workforce in 2014 and expected to increase in the next 3-5 years. Millenials bring with them a whole new approach and expectation about their job and employer.
In the book, Ready? The 3Rs of Preparing Your Organization for the Future, Shelly Lazarus, Chairman emeritus of Ogilvy & Mather observes: “The remarkable thing is how Gen Y approaches balance. The generations before the boomers lived to work, the boomers worked to live, and Gen Y just lives. It is as if their work is episodic. Gen Y always think about the next thing and their average tenure is 16 months.”
Is your organization prepared to deal with the cultural clash between the worldviews of aged leaders, VPs and Directors and those of the new socially-connected young talents? Are you reflecting on what do you need to do differently to retain and keep Millenials engaged?
Building capacity instead of training talents
If you want to equip your leaders to lead the organization of the future, you should consider those skills that builds capacity, not those that merely builds technical knowledge. Those skills are:
Self-awareness: it allows leaders to develop a healthy relationship with their inner world and make unconscious mechanisms conscious making it possible to address them.
Social intelligence: as organizations are getting flatter and networked, success is determined by the leaders’ ability to collaborate, build relationships and trust.
Transformative thinking: the ability to shift mindsets, to innovate, to be comfortable with contradictions, ambiguity and complexity and to continually reshaping the game is a must for staying ahead of the game in an increasingly chaotic world.
Focus management: In today’s open space offices and social media engagement managers must be able to discriminate and filter information, and to understand how to maximize mental performance using a variety of practices and tools.
Measuring and managing organizational culture or letting it manage the business results
What gets measured, gets managed. The key role of leadership in the 21st century is to manage the organizational culture to support the strategy, but very few organizations have started to measure their culture and took actions to re-align it to best serve the company’s vision. Here’s three key challenges for 2014:
Fostering a creative corporate culture. The prevailing management culture, and mental models on which organizations rely are the same ones they traditionally relied on, even though they have been eclipsed by new leadership practices. How will you avoid cultural sclerosis?
Making “embracing ambiguity” part of the leadership culture. Leaders are under pressure to deliver results in the short term but at the same time, they are expected to generate change in the long term. They need to be flexible and innovative inside the boundaries of organizational and regulatory policies. Surviving in this world will demand stronger, responsible leadership comfortable with and capable of embracing ambiguity and uncertainty, as opposed to expecting consistency and predictability.
A culture that combines profit with responsibility: Since the Conscious Capitalism dialogue started a few years ago, there is a growing demand for corporations to take a bigger role in society. It seems that the most successful companies, like Unilever, Tata, Marks & Spencer, are those focused on creating value for both the company and society.