Young Professionals Talk

Mentoring in the Workplace

2009-06-03T17:24:00.000-07:00

Developing a mentoring program is one of the best opportunities to promote a culture for employee development. Generation Y and young professionals are particularly motivated by career development, and they desire the insight that more experienced workers can provide. In this relationship young professionals learn about patience, work ethic, and the evolution of your company. A mentoring program assists in the transfer of knowledge, and it also presents an opportunity for mentors to learn from the younger generation. More experienced workers can benefit from the technological knowledge of this generation, and their ideas for relevant technology implementation in the workplace.

Mentoring Benefits:

Generational Exposure – Removes any barriers and misconceptions between generations in your workplace
Transfer of Knowledge – Facilitates a two-way exchange of information and expertise improves the sustainability of your company’s competitive advantage
Improved Retention – Encouragement, teaching, coaching, and role modeling positively influences employee retention
Enhanced Communication – Mentors play a key role in communicating what it means to work for your company, and they provide relevant industry insight and advice

A mentoring program will be successful if your leadership team supports the initiative, and a senior leader is committed to the implementation. Key goals and objectives should be established, benefits to mentors, young professionals, and organization should be clear, and you should provide opportunities for early “wins”. When implementing a mentoring program, consider these steps:

Develop a matching system – Identify individual goals, strengths, and preferences to facilitate matches, and be flexible to allow for re-matches
Sell the Benefits – Openly communicate the organizational benefits of a mentoring program to your participants
Manage Expectations – Be sure to communicate expectations and commitments to mentors and young professionals
Provide Development Opportunities – Facilitate discussions and off-site opportunities for mentors and young professionals to develop a strong relationship

Get in the Game

2009-05-30T06:03:00.000-07:00

Young professionals - I am convinced that there are three major types of groups in our generations. I know this might be too broad of a generalization, but bear with me.

1.) YP's who are frustrated with their employers' leadership development programs, career opportunities, and opportunities for input (or the lack thereof). This group is taking their frustrations however, and they are trying to change their culture. They are pushing for mentoring programs, creating their own personal development opportunities, and they are presenting new ideas any time they have the chance. This group is full of energy and optimistic.

2.) This group is frustrated, just as group #1 - but they aren't doing anything to change the culture. They are sitting by the wayside, uninspired, and content with giving an average effort to their company. If interesting opportunities come by, their frustration allows them to quickly turn up their energy level and give 100%.

3.) Group #3 is my least favorite. They are indifferent, complacent, and hardly ever voice a concern about their personal and professional development. They are convinced that everyone needs a job, and most people never find a job they are passionate about.

While each group is different, and they contribute varying levels of value to an organization, I am convinced of one thing - They can increase their performance and energy levels if they work in a culture that cultivates and develops them.

----There might be a fourth group of people who are just fascinated by their employer's career development opportunities in the workplace, but I haven't met anyone from this group yet...

Leadership Gap

2009-05-27T05:03:00.000-07:00

In traditional industries such as banking, finance, and accounting there is a standard practice of promoting employees based on tenure and experience. This has worked over the last 50 years as there has been a steady supply of workers - and they have been willing to wait for these promotions. If companies want to be successful in the future, they will have to modify their approach. If not, a substantial leadership gap will begin to surface as more experienced workers retire.

Fewer young people entering these fields, and they are willing to leave their company if HR departments and managers continue to follow the same trend. Of course the economic slowdown might temporary restrict young professional attrition, but it will certainly come back in full force when the job market returns.

What are you doing to create an environment that clearly communicates career development opportunities to your young people?

My Generation Consulting

2009-05-25T06:10:00.000-07:00

Throughout the last year of research and young professional discussions, it has become clear that many companies are not prepared for the generational change in the workplace. Ambiguous career development opportunities, limited personal development investment, and weak employment brands continue to saturate our organizations. However, companies that are taking deliberate steps to attract, develop, and retain young professionals are improving turnover rates, creating a talent pipeline, and they are intentionally shaping the next generation of their company.

I assert that there are two primary reasons companies aren't successful in their current practices.

(1) Responsibility hasn't been assigned. Employee development is often a Human Resources function, but this is typically focused on task-based training. Further, benefits costs, diversity, and ethics are usually higher priorities and any true personal development activities aren't addressed.

(2) Best practices aren't shared or sought after. There are plenty of successful companies that have developed an inspirational workplace not only for young people, but for an entire workforce. In my experience, I have suprisingly found that HR professionals and managers don't actively seek this information. Further, leaders in these companies are not proactively seeking insight from their own employees. I am fascinated by companies that hire talented people for specific roles, but they rarely poll them about workplace and workforce issues.

My Generation Consulting will work to bridge this gap by providing insight and strategies for successful young professional development from a valuable perspective - my generation.

Excuses

2009-03-20T04:32:00.000-07:00

I recently had a meeting with my Director of Human Resources, and was very disappointed in the outcome. As a manager and young leader in the organization, I offered to develop a mentoring and cross-training program for our staff. Currently, our employee development solely focuses on task-based training, and doesn't include a speck of personal development.

The HR person finds value in the concept, and actually considered implementing a program several years ago. However, the excuse was that it has "never made its way to the priority list". Over the years, marketplace situations have occured that have resulted in aggressive hiring, or more recently - downsizing. As a result, HR is always in a reactive mode, and our employees are suffering.

Therefore, I have taken it upon myself to create an informal employee development group that meets every two weeks, and focuses on personal development. We are committed enough to the idea that we are meeting well before work hours, so we can strive to improve ourselves. We have already discussed our ability to positively impact morale, how to motivate others, and set long-term professional goals. This is basic material, but unfortunately we're having to take it upon ourselves to develop these skills.

I can't express how disappointing it is to see an organization spend hundreds of thousands of dollars on salaries, and not invest a fraction of that into their employees.

Employee Development in a Recession

2009-02-23T03:43:00.000-08:00

A recent survey published in the Wall Street Journal indicated that 23% of companies have cut training programs, and another 18% planned to do so in the next year. However, during a recession, employees are less likely to jump ship because of the increased uncertainty in the job market. Therefore, I think the prudent thing to do is to continue to invest in employee and leadership development, as it will benefit the company's ability to navigate these challenging economic times. Further, it will equip your employees with better skills that will dramatically affect the way your company responds to market opportunities when the economy begins growing again.

I encourage you to carefully consider any cuts to employee development programs, and if you are a young professional - push for more opportunities to enhance your skill set. It will be worth it.

Investing in Your Talent

2009-01-31T06:00:00.000-08:00

In today's economic environment, I find it frustrating that investment dollars are being taken away from employee development. In the public sector, cities, school districts, and others are eliminating education reimbursement and travel expenses to industry related seminars. Corporations are also reducing tuition reimbursement for employees who want to pursue their MBA's.

Clearly, there are some areas of a budget that should be reviewed for cost-cutting measures. However, education and employee development should not be considered expendable. I think in today's environment, these development opportunities are what will keep employees motivated and optimistic for future opportunities.

These actions reinforce a fundemental issue that while organization's preach that "our employees are our most important asset", not many of them actually have proof that they make significant investments in these assets.

Young Talent = Cost Savings

2009-01-19T10:16:00.000-08:00

Recently the Chicago Tribune published an article on the cost savings related to internships. Interns aren't only less costly than full-time staff, but they also represent a great way to train and develop a potential talent pipeline.

This is a concept I have been in favor of for years. In most cases, young interns are eager to learn new skills and are easy to train. Further, it can enhance your talent pipeline, and allow you to "try out" potential staff. Companies should consider this as an option if they are at all interested in creating a positive environment for young professionals.

The article can be found at the link below.

http://www.chicagotribune.com/business/chi-mon-minding-0112-jan12,0,6691592.story?track=rss

Company Profile: BearingPoint

2009-01-11T04:52:00.000-08:00

Recently, I blogged about the "Best Places to Launch Your Career" survey that Business Week released. Throughout the next year, I will select companies from that list and explain why I think their company culture's are conducive to YP's.

So what makes BearingPoint a great place to work for young professionals? In short, a professionally casual work environment and a dedication to employee development.

Employees at BearingPoint are given flexplace/telecommuting options that allow them to work from an office closer to home, or regularly work from a home office. Further, compressed workweek options allow employees to work four 10hr days to give them an extra day off.

Young professionals are also given the opportunity to work on projects with senior leadership in a way that they can contribute, and also learn from the company's leaders. This is a tremendous opportunity for YP's, and in my opinion can be one of the most important strategies for employee development.

If that isn't enough, they have collaborated with the Yale School of Management to offer a dedicated Leadership Program for BearingPoint employees. This is a unique partnership between a university and corporation to have a specific curriculum dedicated to improve their employee's contribution to the company.

Lastly, to better reach and connect with YP's, BearingPoint created a Facebook page that offers videos, RSS feeds, and fan comments. Since the internet is often the first point of contact for potential employees, this is a great step to capture the job seeker's attention.

BearingPoint has taken deliberate steps to create a culture that inspires and challenges young professionals. As a result, the company boasts low turnover rates and a strong recruiting pipeline.

Young Professional Survey Results

2009-01-01T17:47:00.000-08:00

I recently surveyed 100 random young professionals across the nation. Each participant completed an online survey, answering questions regarding young professional issues in the workplace. The following results identify employer strengths and weaknesses, and important employment issues for YP's.

- Top characteristics you evaluate when you consider a new employer (ranked in order of results)

Salary / Pay
Benefits
Defined Career Development Opportunities
Flexible Schedule
Company Location / Cost of Living / Entertainment Opportunities

- Does your company offer a mentoring program to connect YP's with senior managers?

No (78%)
Yes (22%)

- Would you find value in a mentoring program?

Yes (87%)
No (13%)

In addition, respondents were asked to rank their company's level of strength in several categories to attract and retain YP's.

- Here are the positive highlights:

Young Professional Empowerment (82% ranked 'average' or better)
Flexible Schedule (83% ranked average or better)
Community Involvement Opportunities (90% ranked 'average' or better)

- Here are a few areas for improvement:

Leadership Programs (42% ranked 'below average' or worse)
Mentorship Opportunities (73% ranked 'average' or worse)
Defined Career Development Opportunities (70% ranked 'average' or worse)

For complete results, please send an email to emergingyp@gmail.com

Young Professional Career Development

2008-12-16T18:00:00.000-08:00

How strong is your company in attracting, developing, and retaining young professionals? Business Week recently released their annual Best Places to Launch your Career survey, and profiled 119 companies. Many of these companies have taken intentional and deliberate steps to create an inspiring environment for YP's. After review, I think there are three major keys to success: (1) providing defined career development opportunities, (2) establishing a mentoring program to connect YP's with senior leaders, and (3) creating a remarkable employment brand through unique benefits and recruiting interactions.

In combination with the aging workforce and baby boomer retirement "boom", young professionals are positioned to have a rosy employment outlook. Smart companies will realize that YP's are imperative to their future success, and they will implement strategies that create an empowering atmosphere. Certainly, not all companies will place a high level of value on YP's, but the successful companies will be the ones who recognize the need to create a talent pipeline.

Inter-Company Relationships

2008-10-15T15:34:00.000-07:00

In today's business environment, it is ever more important to have trusted relationships and contacts with colleagues in several areas of your company. In times of change, these people can keep you clued into the future changes to expect in the organization. Additionally, established relationships with superiors can keep you ahead of the curve when mandates or company directives will be forthcoming. Proving to be an accountable and committed employee can also help if your superiors are ever challenged about your performance.

It is also important to learn from these individuals about the progress they have made within the company. They can give you insight regarding challenges and opportunities they faced when they were in your position. You should reach out to these individuals to see what they would have done differently, and ask them for insight in your role.

More importantly, it will also help you reach your career objectives if you reach out to those who are in areas that you ultimately want to be involved in. Demonstrating interest and establishing an ongoing relationship will help keep you fresh in their mind when an opportunity comes about.