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This was my talk on engaging the Millennials or Generation Y. While many people are promoting worker happiness, I feel it's far more important to promote meaning and purpose in the office. Feel free to email me at [email protected].
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THE HAPPINESS OF MEANINGLESSONS ON ENGAGING AN EXCITING GENERATION
DAVID BONIFACIODIRECTOR OF STRATEGY, CBTL HOLDINGS INC. MANAGING DIRECTOR, NEW LEAF VENTURES MANAGING DIRECTOR, ELEVATION PARTNERS MANAGING DIRECTOR, IDC MANPOWER PRESIDENT, ISSHO GENKI INTERNATIONAL !TWITTER: DAVIDBONIFACIO EMAIL: [email protected]
THE PHILIPPINES IS A PEOPLE MINE.
THERE IS VALUE WAITING TO BE UNEARTHED, SHAPED, POLISHED, SET,
AND DISPLAYED.
$11,000,000,000 lost every year due to
employee turnover*
*United States Bureau of National Affairs
Reasons for Employee Turnover
2%20%
15%
15%18%
29%Career OpportunitiesLack of FitManagement / Work EnvironmentFlexibility / SchedulingPay / BenefitsJob Security
Turning Around Employee Turnover, Gallup Business Journal
“Most of the reasons employees cited for their turnover are things that managers can influence.”
Turning Around Employee Turnover, Gallup Business Journal
PROBLEM #1: WE HAVE DISENGAGED WORKFORCES.
88%NOT ENGAGED in South East Asia
``
88%
- 50 employees x 88% disengaged = 44 people - 44 people x 15 minutes wasted/day = 660 mins wasted - 11 hours x P100/hour rate = P1,100 lost per day
The problem with
P33,000 lost from disengagement per
month
``
88%
- 50 employees x 88% disengaged = 44 people - 44 people x 15 minutes wasted/day = 660 mins wasted - 11 hours x P1000 of potential value generated = P11,000
The problem with
P220,000 potential value lost per month
“The lost productivity of disengaged employees costs the U.S. economy $370 Billion annually.*
*National Business Research Institute
SO ENGAGE!
ASK YOURSELF: WHAT DOES AN ENGAGED WORKFORCE LOOK LIKE FOR MY COMPANY?
Achieves objectives.
Comes to work early.
Communicates effectively with each other
Innovates and grows
Attracts other excellent people to the company
Generates amazing value for the company
Purpose-Driven (Meaning)
!Performance-Oriented
(Results) !
Principles-Led (Values)
by Doug Ready, MIT Sloan
ENGAGE !
1. OCCUPY 2. ATTRACT 3. INVOLVE 4. CAPTURE
5. CATCH 6. PARTICIPATE
7. TAKE PART
ENGAGE: “TO PLEDGE”
ASK YOURSELF: WHAT “PLEDGE” AM I MAKING TO MY PEOPLE?
PROBLEM #2: WE DON’T KNOW HOW TO ENGAGE THIS GENERATION.
Generation A Generation BGap
Bridge
–Albert Einstein
“Insanity is doing the same thing over and over and expecting a different result.”
HOW TO ENGAGE THIS EXCITING GENERATION
Purpose-Driven (Meaning)
!Performance-Oriented
(Results) !
Principles-Led (Values)
by Doug Ready, MIT Sloan
PLEDGE #1: BE PURPOSE DRIVEN MEANING IS WHAT LEADS TO HAPPINESS
–Proverbs 29:18
“Where there is no revelation,people cast off restraint…”
“
BE PURPOSE DRIVEN
• Define your company purpose. What are you driving towards?
• Define the purpose of each person in your organization. Answer the question, “Why am I here?”
• Constantly communicate the group purpose and each individual’s purpose.
BE PURPOSE DRIVEN
Freedom + Ambiguity = Failure and Frustration
BE PURPOSE DRIVEN
Purpose (meaning) + Clarity = Success and Fulfillment
PLEDGE #2: BE PERFORMANCE ORIENTED
BE PERFORMANCE ORIENTED
• Define the performance expected. Define how this performance is connected to the company purpose and the individual’s purpose. People should know how they’re judged.
• Measure and Develop: Measure and Develop performance. Don’t just expect it.
• Carrots and Sticks: Reward what you want more of. Punish what you want less of.
BE PERFORMANCE ORIENTED
Undefined expectations = Unmet expectations Unmet expectations = Dissatisfaction
BE PERFORMANCE ORIENTEDNotes on Measuring:
You can’t manage what you don’t measure. (“I have a feeling” or “I think” don’t count.)
!Measuring the wrong thing leads to wrong decisions.
(Measure things that contribute to achieving the purpose.) !
Interpreting measurements wrong leads to wrong decisions. (Validate with data. Validate the data itself.)
!Use new tools to measure. Ask others how they measure.
(We use tools like Asana and PayrollHero)
BE PERFORMANCE ORIENTEDNotes on Developing:
Start with expectations. (Company and Client Expectations)
!Define what skills are required to meet expectations.
(Ask yourself: What do we have to be good at?) !
Develop people to excel in these skills. (Training programs, exposure, books, mentors, etc.)
!Expand responsible people. Remove irresponsible people.
(If they’re good, invest more. If they’re not, don’t waste anymore.)
PLEDGE #3: BE PRINCIPLES-LED
BE PRINCIPLES-LED
• Define your values. What are non-negotiably important to you? How should everyone aspire to behave?
• Defend your values. Especially from yourself.
• Demo your values. People follow the leader.
Purpose-Driven (Meaning)
!Performance-Oriented
(Results) !
Principles-Led (Values)
NOTHING ORIGINAL.
–May 22, 2014
“As I continue preparations for my talk on worker happiness, I keep seeing the need to stress the importance
of executors (actual people) who will push (sometimes fight) for actual change and the need to adopt new
methods (actual processes, strategies, and policies), and to embrace and learn new tools (actual technologies) that all
come together to provide an engaged workforce that is both productively achieving company goals and is happy and committed. Someone has to do it. That someone has to do new things. That someone doing new things needs
innovative tools.”
THANK YOU!EMAIL: [email protected] TWITTER: DAVIDBONIFACIO
