Millennials and Gen Z workers are passionate and searching for meaning in their work. It’s time to ditch the lazy and entitled cliches society attributes to these generations. Today’s post is by Heidi Ganahl, author of SheFactor (CLICK HERE to get your copy). News flash: the promising new grad you just hired is already looking for her next job. The numbers don’t lie – Generation Z and Millennial women are only staying at their jobs for an average of 18 months. In comparison, the national average for salaried employees is 4.6 years, according to an Economic News Release from the Bureau of Labor Statistics. The American workforce has changed dramatically since Millennials came on the scene. This phenomenon has left many of us wondering why the ways we engage, reward, and retain employees have not changed with it. Today, especially with a historically low national unemployment rate, companies cannot afford to lose their ambitious new talent. The costs of turnover and training can add up in ways that go beyond the measure of profit margins. Reputation, recruitment, and employee turnover can add up to about half of an employee’s annual salary. Let that sink in for a moment. If you want to retain Millennials, your organization’s leadership must give them better reasons to stay.
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Entries by Ryan Shaw
Maureen Metcalf, thoughtLEADERS Principal, sat down with Jim and Jan of The Leadership Podcast to discuss her thoughts on resilient leadership. In continuation of our new collaboration with The Leadership Podcast, Maureen talks about developing and being a resilient leader in this short form “chalk talk.” These chalk talk series are bitesize sessions on a common (but challenging) leadership issue. Maureen defines resiliency, and resilient leadership, in the modern era, why it’s important when leading a team and differentiates resiliency from adaptability. Jim and Jan ask a few questions about the different “area” or “phases” of resiliency and the importance of balancing everything out and Maureen explains how your mindset and thought process directly effects the rest of your body, your work, and a slew of other aspects of life. Stay tuned for more of these brief Chalk Talks featuring Maureen, as well as many more members of the thoughtLEADERS team.
Leaders need both personal mastery and situational awareness to make the right call at the right time. Six mindsets ensure they grasp their realities to ensure success. Today’s post is by Dr. Mary Lippitt, author of Situational Mindsets (CLICK HERE to get your copy). How would you define leadership? Most people would answer that a leader possesses an effective leadership style, impressive skills, and stellar character. And they would be correct. Yet, those three factors miss an essential component. Leaders must consistently deliver results despite new customer requirements, new technology, changing regulations, and incessant competition. The common leadership definitions overlook the importance of situational realities and goal achievement. Historically, we have focused on internal aspects that are stable or slow to change. While skillsets evolve, character and style are relatively stable. Leadership has focused on internal aspects of whom the leader is and the job skills the person possess. This individual focus overlooks external accomplishments. The irony is that those accomplishments are why some leaders are remembered and honored. We celebrate George Washington, Winston Churchill, and Mahatma Gandhi for their impact. All of them successfully dealt with challenging and rapidly changing situations. And our more recent leaders, from Bill and Melinda Gates to Steve Jobs, are known more for their work than their internal style. Of course, aptitude, skills, and style count—but they do not comprise 100 percent of what makes a leader great. We must expand our definition of leadership to include external mastery, or the ability to understand reality and leverage it to produce results. It is the missing piece of leadership.
Our reader poll today asks: How prepared is your organization for a sudden crisis? Extremely: 10.01% Very: 27.81% Somewhat: 36.82% Not very: 17.56% Not at all: 7.80% Crisis management identifies opportunities. It would have been interesting to take this poll a few months ago and see what the responses were. My guess is the “Extremely” and “Very” categories would have scored much higher. We tend to overestimate our capabilities and underestimate the impact of a crisis. The best thing you can do during a crisis, other than dealing with it, is identify where your organization is falling short and fill those gaps either during the crisis or after it passes. The weaknesses exposed in the midst of the chaos are ways you can harden your business and get it ready for the next inevitable, unforeseen challenge. Start gathering lessons learned as soon as the crisis hits and allocate resources immediately to fix those issues. You’ll be glad you did when the next crisis hits. Do you agree with these poll results? Let us know in the comments below! – Mike Figliuolo at thoughtLEADERS, LLC Did you enjoy this post? If so, I highly encourage you to take about 30 seconds to become a regular subscriber to this blog. It’s free, fun, practical, and only a few emails a week (I promise!). SIGN UP HERE to get the thoughtLEADERS blog conveniently delivered right to your inbox!
Rob Salafia, thoughtLEADERS Principal, sat down with Jim and Jan of The Leadership Podcast to discuss his thoughts on authenticity. In continuation of our new collaboration with The Leadership Podcast, Rob gives his insights and thoughts on authenticity in this short form “chalk talk.” These chalk talk series are bitesize sessions on a common (but challenging) leadership issue. Authenticity is a commonly used word in the leadership realm, so Rob breaks down the textbook definition about authenticity and how to use that to your advantage with the different needs of a team and being a leader. Rob further breaks down why exactly people struggle with just being themselves, especially in a work environment, and how it’s tied to being your “best” self, or the best version of you when at work. Stay tuned for more of these brief Chalk Talks featuring Rob, as well as many more members of the thoughtLEADERS team.
One way to instantly see if your workforce is being effectively managed is to ascertain how they feel about work. Today’s post is by Dr. Ian Hesketh and Sir Cary Cooper, authors of Wellbeing at Work (CLICK HERE to get your copy). Starting with the basics, it is without doubt that the relationship workers have with their immediate line managers is the one that can impact most on their wellbeing. The relationship can be the key to happiness, positivity, commitment, productivity and performance. The good news is that this skill can be developed and honed, resulting in optimum working efficiency. Therefore, it is well worth the investment in your leaders, at all levels. We suggest that at its very basic level leadership can be broken down into just three elements. These are, knowing yourself, knowing your people and knowing your business. One of the most popular frameworks of leadership is that of transforming leadership. Initially coined by James Downton in 1973 following his research into charismatic leadership, it was influenced largely by Bernard Bass, and his instrumental book Leadership and Performance Beyond Expectations. Bass established what it was about leadership that inspired extra ordinary achievement and contributions of extra-role effort. He explored what were the traits that great leaders seem to have; concluding with four major tenets. These leadership attributes, commonly known as the 4 ‘I’s’, are: