Companies Respond to Feedback Demands

by Phyllis Weiss Haserot

Not only are Millennials demanding faster and more frequent feedback at work, but also companies increasingly are realizing that it’s necessary for maximizing productivity and professional development of their personnel at all levels. Goldman Sachs (as well as Accenture PLC, Deloitte, J.P. Morgan Chase, Microsoft Corp., Netflix Inc., Fed Ex Corp., General Electric) have added fast feedback processes in addition to, or instead of, annual reviews.

Edith Cooper, head of Goldman Sach’s human capital management told the Wall Street Journal, “The same approach that we take to our revenue-producing businesses, we have to apply to our investment in people.” The push for change at Goldman was not primarily a Millennial initiative. Cooper said that in a 2015 survey it was most often the vice presidents and managing directors (typically Gen Xers in their late 30s and 40s) who responded that they wanted more frequent reviews. Feedback has long been a Gen X demand. Yet (as usual) the focus and talk centered on Millennials. (Am I the lone voice who calls out the unwise neglect of Gen X?  But I digress.)

In Goldman’s case the concern is for quick feedback to employees after a big client pitch or product launch. If they haven’t already, Goldman senior managers will realize, as other companies are, the need for frequent and timely feedback as a matter of routine practice.

Has your organization changed its feedback policy? What changes were made, and what has been the outcome?

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Phyllis Weiss Haserot

Phyllis Weiss Haserot, president of Practice Development Counsel, helps organizations and individuals solve inter-generational challenges among work colleagues and with clients to achieve better productivity and knowledge transfer, retention, succession planning and business development results. Connect with her through emailtwitter, or LinkedIn

Play the Generational Challenge Game II

by Phyllis Weiss Haserot

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You’re a Boomer/Gen X cusper boss with a few long-tenured Boomers on your team, which is planning for new services and succession as the “Boomer cliff” (talent losses voluntarily or involuntarily) looms.

What would you do or advise a colleague to do?  And why?

  1. Assume the older half Boomers would soon be gone and pretty much ignore them in planning?
  2. Encourage the Boomers to stay to take advantage of their strengths and relationships?
  3. Ask the older Boomers to accept shifts to lesser roles to enable younger co-workers to move up?
  4. Provide incentives for the older Boomers to transfer their knowledge and relationships to younger colleagues?

Email us your responses and you’ll get a complimentary 15-minute coaching session and tips on handling your inter-generational challenge.

 

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Phyllis Weiss Haserot

Phyllis Weiss Haserot, president of Practice Development Counsel, helps organizations and individuals solve inter-generational challenges among work colleagues and with clients to achieve better productivity and knowledge transfer, retention, succession planning and business development results. Connect with her through emailtwitter, or LinkedIn

Play the Generational Challenge Game

by Phyllis Weiss Haserot

You’re a Baby Boomer reporting to a hotshot younger (Gen Y/Millennial) boss with pre-conceived assumptions about what you can or cannot do.

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What would you do in this situation? Select a response and explain why.

  1. Point out that you have been around a long time with lots of experience and proceed to give advice?
  2. Complement his/her achievements and ask how you can be most helpful in reaching the group’s goals? (getting your ego out of the way)
  3. Suggest you start by talking out your respective working and learning styles and figure out how you can collaborate most productively?
  4. Give a resume of your technology savvy and assure the young boss you are capable of whatever challenges you are given?

Email us your responses and you’ll get a complimentary 15-minute coaching session and tips on handling your inter-generational challenge.

 

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Phyllis Weiss Haserot

Phyllis Weiss Haserot, president of Practice Development Counsel, helps organizations and individuals solve inter-generational challenges among work colleagues and with clients to achieve better productivity and knowledge transfer, retention, succession planning and business development results. Connect with her through emailtwitter, or LinkedIn

3 Societal Shifts Among the Generations you might not have heard of

by Phyllis Weiss Haserot

  1. Avoiding Debt
    • 80% of Gen Zers are considering cost when deciding where to attend college. 69% are concerned about taking on loans.
    • The fastest growing segment with student debt are parents, who have taken out loans for their kids’ education and are struggling between paying for that and their retirement funds.
    • Young Millennials and Gen Zers are shifting their grocery shopping away from supermarkets, the venues typically patronized by Boomers and Gen X, to lower cost options online and other retailers. Total grocery spend by Millennial-aged shoppers is $1,000 less than in 1990 for similarly aged shoppers (adjusted for inflation dollars).
  2. Martha Stewart sees a minimalist trend in interior design among millennials. They don’t want to collect and be weighed down with a lot of “stuff.” (So parents are likely to have trouble offloading even their good stuff to their children when they downsize.)
  3. Gen Zers and young Millennials don’t favor established celebrities. They prefer to follow YouTubers, considering them more authentic and relatable. So brands are looking for new types of “celebrities” to represent them in new ways to new generations of customers.

Think about how these trends will (or will not) affect you personally or your business.

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Phyllis Weiss Haserot

Phyllis Weiss Haserot, president of Practice Development Counsel, helps organizations and individuals solve inter-generational challenges among work colleagues and with clients to achieve better productivity and knowledge transfer, retention, succession planning and business development results. Connect with her through emailtwitter, or LinkedIn

MIA: Searching for Talent, CHROs Find These Skills Missing

by Phyllis Weiss Haserot

Research by Korn Ferry polled Chief Human Resource Officers (CHROs) about skills they find most lacking when they search for HR talent. The responses were primarily the kinds of things taught in business school curriculums. But the most interesting was their response to what competencies are most important to operate in their ever-changing environment. Fifty-two percent cited “tolerance for ambiguity,” the most common response.

Unfortunately, that’s a trait many Millennials lack, probably largely attributed to the high degree of structure and protection many of them have had in their lives.

What have you observed about Millennials and tolerance for ambiguity? Has that surfaced as a problem? Should we expect the same from Gen Z? And if so, as mentors, coaches, managers and parents, since tolerance for ambiguity is a trait or skill to be developed early, how should it be taught?

Please share your thoughts on this and other skills lacking.

Do You Think Sixth Graders Need Their Own Version of LinkedIn?

by Phyllis Weiss Haserot

There seems no end to the continual development and release of new digital platforms to connect and promote ourselves online. Most career-oriented people are by now convinced they must have profiles posted and participate. But 6th graders? 

A new digital platform called trovvit (as in treasure trove), developed by a Brooklyn father of two, lets students as young as 6th-graders post their accomplishments and passions with videos, audios and text. Invitations work a lot like LinkedIn, and the company claims strong parent and privacy controls for kids under 14. 

The Wall Street Journal Greater New York section ran a story about #trovvit being tested in the affluent suburb of Harrington Park, NJ (2/16/18) for 6th-8th graders in the school district. It’s one of 10 school districts testing the platform at no charge. 

Arguments for it by developers and proponents: A way to showcase a more vivid, holistic view of a student beyond test scores and GPA. Some college admissions officers are looking for a more holistic view of a student’s talents. It’s a useful recordkeeping device. It is a way to connect students and help them explore their own interests rather than be pigeonholed in conventional paths. 

Arguments against: Some parents think such apps are a way to push admissions anxieties and self-promotion to ever younger ages. One of the company’s slogans is “Toot your own horn.” 

The seduction of self-promotion has been documented, with addiction to Instagram and constantly taking selfies by teenagers for several years. Issues of mental health have been raised. Backlash has set in to some extent, but once these technologies get embedded, it’s difficult to go back to life without them. Yet there is an argument for these platforms’ usefulness in today’s competitive, sharing everything world where often more pressure comes from parents’ buy-in to it than schools and employers.

Please comment below or in the LinkedIn Cross-Generational Conversation Group. (Yes, I’m in favor of LinkedIn for adults and college students, and active myself).

Are digital self-promotion platforms for middle-schoolers a positive exploration or likely to increase stress and narcissism?

How will it impact the future of education and work for succeeding generations?


© Phyllis Weiss Haserot 2018.

Phyllis Weiss Haserot author of You Can't Google It!.jpeg

Phyllis Weiss Haserot, president of Practice Development Counsel, helps organizations and individuals solve inter-generational challenges among work colleagues and with clients to achieve better productivity and knowledge transfer, retention, succession planning and business development results. Connect with her through emailtwitter, or LinkedIn

Will Today's Employers Be Happier with Gen-Z Workers than Millennials?

by Phyllis Weiss Haserot

I’ll go out on a limb to say employers are likely to be happier with Gen Z workers than Millennials, generalized as a group. Serious problem-solvers, (though unfortunately even more stressed) a look at reported Gen Z behaviors, formative influences including parenting, and recent surveys tracking how they are trending should serve as an alert to employers that conversion of work environment and norms to what they have been finally persuaded is what Millennials want, may require another re-think. It may even require harking back to the significant influences of their Gen X parents’ attributes for clues. 

It’s also a reminder from me that it is unwise to focus on any one generation (no matter how large and vocal) to the exclusion of all generations at work. 

Next Up: Gen Z Grads’ Experiences

I start with some stats from a late 2017 Accenture study on Gen Z (Gen Z Rising, 2017) of more than 6,000 students in the U.S. and Europe in large companies.

  • 66% of 2015 and 2016 grads think they’re underemployed – an ambitious group! And 2017 grads think they are ready for responsibilities and want an engaging experience at work. 
  • 89% of ’17 grads considered job availability before selecting a major. 
  • 82% of ’15 and’16 grads had completed an apprenticeship or internship, and 79% of those led to a job for 2017. 
  • 62% expect to stay in their job 3 or more years. 
  • So far it sounds pretty good, but only 61% of the 93% that expected to landed a job in their field or work full-time in their chosen field actually had, indicating flexibility is necessary in early years at least. 
  • What recent grads reported they want most at work is very similar to the desires of generations ahead of them. (So employers should pay heed to satisfy and engage all generations.) More to come on this in the continuation of this topic next month. 
  • The top industry choices recent grads surveyed in the Accenture study want to work in are: 
- Education 17% - (maybe a surprise?) 
- Communications (15%) 
- 3rd and 4th choices are retail and
  healthcare
  • They want a personalized employee experience – expressed more strongly than previous generations. 

The study concludes that Gen Z is showing maturity in preparing themselves and is willing to work hard and take ownership of and for their careers. 


© Phyllis Weiss Haserot 2018.

Phyllis Weiss Haserot author of You Can't Google It!.jpeg

Phyllis Weiss Haserot, president of Practice Development Counsel, helps organizations and individuals solve inter-generational challenges among work colleagues and with clients to achieve better productivity and knowledge transfer, retention, succession planning and business development results. Connect with her through emailtwitter, or LinkedIn

Special New Year’s Message for 2018

by Phyllis Weiss Haserot

Whether business was good or less so, you experienced natural disasters or were out of harms’ way, and/or personal issues imposed challenges, many of us feel we have survived the year’s many and varied disruptions. You and I are a tough bunch with purpose, determination and aspirations to make change.

As a future-oriented congenital optimist, I always look forward to new, creative, positive people-friendly possibilities, and 2018 will be no different in that respect. As champions of cross-generational conversation and collaboration, given the current social, political and business environment, to what can we look? Some ideas:

  • The upheaval in workplace gender relations looks ripe for major positive change. Change will be much smoother if the generations bond together and resolve their perspectives as to power and privilege.
  • Messages about the urgent need for succession planning and knowledge transfer may be producing an awakening. Leadership change appears to be accelerating and Millennial influence is gradually being accepted. Give the younger generations a voice and opportunity to be leaders-in-training.
  • Recognize that productive Boomers are not going anywhere, and you will miss them if and when they do. Develop respected role shifts for them that capitalize on their talents and connections while creating an effective process for smooth knowledge transfer that is rewarded and successful in continually bonding clients/customers to your organization.

Looking back on 2017 on the positive side, I was thrilled to get my newest book, “You Can’t Google It!” – The Compelling Case for Cross-Generational Conversation at Work” and the first part of the 2-stage release (eBook on Amazon, etc.) underway with very positive response and reviews in process. Look for it at “You Can’t Google It! and if you like it, please write an honest review on Amazon.

Looking forward, the book will be released in print at brick & mortar stores in March with a bigger launch. Look for the news of events, and I hope you can participate. eBook reviews will be transferred to the print book page when Amazon posts that page.

Looking back, I am filled with the warm glow of continuing support and good wishes from clients, colleagues, friends and other supporters for my work and family health challenges. Looking forward, we are talking about exciting collaboration and partnering. Also, looking forward in early 2018, we’re eagerly anticipating a new, additional web site focusing on “You Can’t Google It!” and cross-generational conversation at work as well as getting 2 new products/services that have been in the works for a while out into the world.

I hope you too have exciting professional and personal pursuits you are eager to share and enjoy. Wishing they come to be for you, and you thrive with good health, joy and gratitude. And let’s remember to celebrate!

Optimistically onward in 2018!!!


© Phyllis Weiss Haserot 2018.

Phyllis Weiss Haserot author of You Can't Google It!.jpeg

Phyllis Weiss Haserot, president of Practice Development Counsel, helps organizations and individuals solve inter-generational challenges among work colleagues and with clients to achieve better productivity and knowledge transfer, retention, succession planning and business development results. Connect with her through emailtwitter, or LinkedIn