Another 'cast your mind back' one for you folks. Who remembers Y2K? The 'Millennium Bug', as it was known back in the 1990s, was a much-hyped fear that - when the clocks and date processes that drove everything in our global corporate and government computer systems ticked over from 23:59 on 31.12.1999 to 00:00 on 01.01.2000 - everything would effectively just close down! It was thought that computer programmers over the previous few decades had not foreseen this ‘bug’, and so could not say that it would not cause a problem. Simply put, no-one knew if anything would happen.
And of course – nothing did! But only after millions upon millions of global corporate dollars had been spent in the lead-up to Y2K, anticipating catastrophe and hatching complex contingency plans and programmes. The Millennium Bug had well and truly bitten…
Fast forward to the present day. The Millennial Bug, I would argue, describes a phenomenon that again many people-managers had not anticipated, where millions upon millions of corporate dollars are being spent in wasted investment, recurring recruitment, training costs and overtime payments because of high staff turnover.
What is the root of this phenomenon? It is our so-called ‘Millennial’ generation – broadly, the section of our society that was born leading up to and since the turn of the millennium. But to be clear, that is not to lay any blame on this aspiring young group – far from it! For reasons that there is no time here to go into (in fact most likely a result of their parents’ attitudes), Millennials – in general – are more flexible, less fearful, more entrepreneurial, less risk averse, more anxious, less loyal than the ‘Baby Boomers’ and the ‘Generation X-ers’ that preceded them.
In practice, this rapid generational change in outlook and philosophy has now created significant challenges to corporate managers, who had for several decades been used to establishing career paths and glass ceilings for staff whose main focus was providing for the family, job and salary security, paying the mortgage, taking fewer personal risks. Staff planning could be done with a degree of confidence and stability, as employees would be reluctant to move on, even under mild or moderate disenchantment in their roles.
For a few years now however, managers have been faced with a new fearless, unshackled and anxious young generation, whose intellectual curiosity compels them to try out various roles to see what suits them best, and also to question and doubt themselves more than their forebears. If the fit is not right, either from a personal or an employer perspective, they are inclined to simply move on to something else.
As a corporate manager myself a few years back, this shift was first observed through rapid turnover of young, high-potential graduates in whom significant training expense had been invested. And it forced a dramatic re-think around tactics and strategies for recruitment and retention at this level.
Can we de-bug?
As a manager, how can you plan for work and budgets under the threat of a rapidly shifting young staff base? How can you manage ever-increasing costs for recruitment and replacement? How can you continue to justify investing so much in training programmes for graduates and young talent if you know that many may simply take off at any time? Critically, how can you increase Millennial retention?
As an employee, how do you jump off the constant merry-go-round of jobs in which you struggle to appreciate your value? How can you identify what it is that you really want in your future career, what you are passionate about, what inspires you to be as good as you can be in any role? How can you learn to feel more a part of the fabric of the company that you choose, and even become a key influencer in that company’s culture and direction?
Let’s consider how Coaching can make a difference…
The key factor here is that Coaching is a one-to-one experience, which focuses on the unique core values, beliefs and passions of each individual. It encourages each person to think deeply about and acknowledge what work they truly want to do, and why. On a very personal level, it can address their anxieties and self-doubts and turn this around into positive affirmation of a role.
But more than that, good coaching will also bring out in the coachee a desire to become more integral - a driver of the environment and philosophy of the organisation that they work for – a thought-leader, a culture-builder, and an inspiration to others. This can give a dramatically different perspective to even a young person’s role within the company, at the heart of its philosophy and culture. And in this way, it will prevent so many heads from turning – I can assure you!
So if you recognise yourself as a ‘Millennial’, and feel that you want to escape the anxiety of uncertainty and explore how to find your true vocation without so much trial and error, or if you are a manager struggling to cope with a volatile staff base and looking to create a ‘great place to work’, I will be delighted to talk through your situation with you and explain how I – and Coaching - can help you. Simply email me at ianking@elreyconsultancy.co.uk to get the ball rolling.
It could be the best people development project you ever start!
Ian King
www.elreyconsultancy.co.uk
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