I have some fun news to share! My latest book, “Your Employee Brand is in Your Hands”, has been chosen as a finalist in the 17th annual Foreword Reviews’ INDIEFAB Book of the Year Awards. It is 1-of-6 finalists in the Non-Fiction “Career” books category!
Since it was published, it has become a very popular book with companies using it for their employee training and development programs, leadership development, and for retaining employees. So I’m really happy to know judges for a big book competition think it’s worthwhile, too!
This is a complete list of categories and finalists: https://indiefab.forewordreviews.com/finalists/2014/
Here’s the gist of the competition and how they select final winners:
Each year, Foreword Reviews shines a light on a select group of indie publishers, university presses, and self-published authors whose work stands out from the crowd.
In the next three months, a panel of more than 100 volunteer librarians and booksellers will determine the winners in 63 categories based on their experience with readers and patrons.
“After 17 years, our awards program has become synonymous with quality because our editors set such a high bar on the finalist round, which makes it especially tough for the judges who select the winners,” said Victoria Sutherland, publisher of Foreword Reviews. “In every genre, our judges will find an interesting, high-quality selection of books culled from this year’s entries.”
Foreword Reviews will celebrate the winners during a program at the American Library Association Annual Conference in San Francisco on Friday, June 26 at 6 p.m. at the Pop Top Stage in the exhibit hall. Everyone is welcome. The Editor’s Choice Prize for Fiction, Nonfiction, and Foreword Reviews’ 2014 INDIEFAB Publisher of the Year Award will also be announced during the presentation.
About Foreword: Foreword Magazine, Inc is media company featuring a FOLIO: award winning quarterly print magazine Foreword Reviews and a website devoted to independently published books. In the magazine, they feature reviews of the best 160 new titles from independent publishers, university presses, and noteworthy self-published authors. Their website features daily updates: reviews along with in-depth coverage and analysis of independent publishing from a team of more than 100 reviewers, journalists, and bloggers. The print magazine is available at most Barnes & Noble and Books-A-Million newsstands or by subscription.
I recently had an amazing experience: The Government of Brunei Darussalam hosted a Leadership Conference for Millennials (aka: Gen Y), attended by employees from both private and public sector organizations. And they hired me to be a featured speaker at the event, so I flew to their capital, Bandar Seri Begawan, and it was awesome!
While there, I conducted my Personal Branding Workshop for them. But what was very interesting is that when I asked how many of them had ever heard the term Personal Branding, only 2-3 attendees out of 300+ raised their hand. However they rapidly embraced the concept, and took the training very seriously.
Brunei is a small country that shares a border with Indonesia. And, even with a population of only 440,000, organizations there are running into the same challenges we have here in the U.S.; they are having to move younger employees into leadership roles sooner and that is creating new challenges for the Millennials AND their employers.
Just like Millennials here, they need training on leadership and management. And employers are interested in knowing more about managing, recruiting and retaining Gen Y.
Yes, people, the “Millennial” phenomenon is a GLOBAL workforce issue. If it weren’t, I wouldn’t have been hired to fly across the globe. Right?
While there, I experienced a bit of celebrity, which was fun! They had ordered 300 copies of my third book, “Millennials into Leadership”, and most all of the attendees wanted me to sign their copies, plus they all wanted to take pics with me.
Then, the day after I spoke, I opened their main daily newspaper, and there I was featured in a big article. I’m moving there. LOL
I also spent some time sightseeing. One main highlight that day was the private boat tour I took. We went into the jungle where I saw crocodiles and monkeys!
Anyway, the whole things was a unique experience that I wanted to share. The people of Brunei were extremely gracious and hospitable. I’m hoping to work with them again in 2015!
I’ve written tons of blogs and articles on this topic, but it continues to be a challenge for many companies which is why they bring me in to conduct in-depth seminars about it. Based on that, I felt it wouldn’t hurt to write another post on “how to retain Millennials” (aka Gen Y) since it’s still a very hot topic in the workforce.
So, why DO companies – large and small – spend so much time worrying about how to retain Millennial employees? It’s basically a matter of math.
According to the Employment Policy Foundation (EPF), our country is at the beginning of a labor shortage of approximately 35 million skilled and educated workers, which is estimated to continue over the next two decades. Plus, Baby Boomers are currently reaching retirement age at an estimated rate of 1 every 8 seconds.
Thus, startling stats like those have Leadership Teams scrambling to figure out how to effectively retain their “top” younger talent because the current, and future, success of their companies depends on it.
To give your company an edge, consider the following strategies that other smart organizations are implementing…
5 Solid Strategies to Retain Your Millennial Employees:
1. Communicate A lot: In a survey conducted by Yahoo! HotJobs and Robert Half International, over 60 percent of Millennials responded that they want to communicate with their managers at least once a day. Unfortunately, many members of “older” generations feel that communicating that often with employees is cumbersome but the Millennials require it or they will leave.
2. Provide Training & Development: According to a recent national survey, Millennials rated training and development as an employee benefit 3 times higher than they rated cash bonuses. And they not only want skill-based training; they want training on soft skills, too.
3. Rapid Advancement Alternatives: You don’t always have to give Millennials a raise or promotion to keep them happy; being creative with increased responsibility can work great! Millennials have fast minds and get bored quickly, but it’s your job as their employer to help eliminate the “boredom” factor. Find creative ways to give them more responsibility, such as letting them do one or more of the following:
4. Mentor Programs: This is key! Millennials have grown up with a lot of guidance from their parents, society and teachers. They truly value and seek handholding at work. So, please heed this advice! I’ve spoken with many Millennials who have quit jobs quickly because they were promised mentorship, but never received it.
5. Foster a Leadership Mindset: The sooner you can educate your Millennial team members on the attributes of being a respected leader, the sooner they’ll start acting like one. And by emphasizing that everything they say and do either strengthens or weakens their Personal Brand(s) can quickly provide them with a new perspective that can improve the behavior that may be frustrating you.
Finally, it’s important to remember that Millennials’ wants and needs aren’t much different from those of older generations; they just have a lower tolerance threshold than generations before them. A Boomer may put up with a job for five years even if he or she is bored or doesn’t feel valued, but a Millennial may only tolerate it for five months.
That said, what can your company being doing differently to ensure that you don’t lose your top Millennial talent to the competition? Savvy organizations are being pro-active with developing retention strategies versus being reactive. Is yours?
With $1.5 billion in annual spending power, and being a generation 85 million strong, it’s easy to see why companies ranging from small businesses to Fortune 500 corporations care about attracting Millennials (aka: Gen Y) as customers. The eldest Millennials are now around 30 years-old…so they’re not just “clueless kids” anymore.
So for businesses to more successfully engage, attract, and develop new customer relationships, it’s important to be aware of this interesting fact shared by J. Walker Smith, Ph.D. and Ann Clurman, Co-Authors of the book, Rocking the Ages: “Generationally determined lifestyles & social values exercise as much influence on buying and purchasing as more commonly understood demographic factors like income, education, and gender do – maybe even more.”
How Millennials (aka: Gen Y), Generation X, and Baby Boomers each prefer to be engaged with is different. And it’s critical that Sellers educate themselves on these preferences as it can greatly improve the results of their sales and marketing efforts.
However, for this post, my focus is on Millennials. Not only are they the newest generation of young, adult consumers, they are the most unique. Thus, they’re worth learning about. Why? For starters, they are the largest generation the U.S. history. Plus, by 2025, 75% of the U.S. workforce is going to be comprised of Millennials.
As a result, not only will Sellers and Employers be working with them more as colleagues, but they’re going to be heavily competing for them as customers.
There are many ways to attract, engage and build brand-loyalty with this unique generation. Here’s an example of three to be aware of:
Smart companies are investing a lot of time, effort, and money into learning everything they can about the Millennial mindset; both as employees AND consumers. Furthermore, Sales Teams all over the globe are learning how to better engage with them as our next generation of key decision-makers in the workforce.
Recruiting, managing and retaining Gen Y employees (aka: Millennials) seems to be all the rage nowadays, but smart companies are also putting effort into retaining their Baby Boomer talent. Recent research shows that “one Boomer hits retirement age every 8 seconds” in the United States, and although not all of them CAN retire due to their financial circumstances, many of them can. Yet those who can’t retire are looking for alternatives to generating income outside of the corporate grind.
The need for Boomer retention is being felt more in technology, pharmaceutical, and engineering companies. However all industries are feeling, and will continue to feel, the pain of a serious “brain drain” as Boomers exit the workforce…taking their vast experience and knowledge with them.
So how can a company keep their Boomer talent, who have one foot out-the-door, from walking away? Here are four Boomer retention strategies to consider:
Match Them with a Younger Mentor
Some Baby Boomers feel intimidated by rapidly changing technology, and this results in their wanting to leave the workforce because they feel “antiquated”. To help this situation, many companies are implementing “reverse mentor” programs where younger employees mentor them on social media, smartphone apps, and using new technology the company has implemented. This helps those Boomers who are choosing to retire because of technological advancement from leaving because they no longer feel embarrassed about not grasping tech it quickly.
I conduct presentations for Executive Leadership teams and Human Resources executives where they all tend to focus on Generation Y wanting flexibility. What they fail to realize (until I tell them) is that Boomers on the verge of retirement want the same thing!
Many Boomers who HAVE to continue working, or who want to continue working, choose to leave their jobs because they’d rather try being self-employed, or take a job somewhere else that embraces flexibility, so they have more control over their schedules. More and more companies recognize this and are launching flex-time, part-time, consulting positions, remote working options, etc.
Sure, much of that started due to Millennials demanding it, but companies quickly see it is helping keep their Boomer talent longer, too.
Give Them a Second Career Choice
Many Boomers want to leave because they’re burnt out on what they’ve done professionally for (possibly) 30+ years. As a result, many employers are offering job training options so their Boomer talent can learn a new skill set, oftentimes in a totally different department. Research is showing that this “career customization and training” strategy can reignite their enthusiasm and excitement, resulting in their desire to stick around a lot longer.
Eliminate Generic Rewards Programs
It has been proven time and time again that the one-size-fits-all rewards and recognition programs DO NOT work. Everyone is different, and what motivates them is different. What a 60 year-old employee wants is normally different from what a 25 year-old wants.
Encourage front-line Managers to find out WHAT each of their employees want, and allow them to act accordingly (within reason, of course!). Customized employee incentive have been proven to work… across all generations!
Starting from now through the next 20 years, companies cannot afford to lose their top talent. We are entering an employee-driven job market again, after it being an EMPLOYER-driven market for quite a few years. So it’s time for companies to take employee retention, across the generations, very seriously.