“Dude, where’s my office?” –Managing people, knowledge and change in the 21st century

Krystelle BilodeauDirector, Retail and Wholesale DebtBank of Canada

Cynthia Bilodeau, PhDProfessor, Counseling and PsychotherapySaint Paul University

About Us

Objectives

KEY TAKEAWAY

Millennials represent opportunity to build greater value

Explore the millennial shift facing organizations today

Identify how organizations can harness this shift and reduce organizational knowledge loss

Highlight practices key to engaging the new generation

Overviewview

Workforce Shift− Who are the millennials?

− What do they value?

Organizational Case Study− Initial response

− Lessons learned

New Approach− Information strategy to knowledge strategy

− Engaging the new workforce

Workforce Shift Millennials

Millennials represent a third of the workforce today

They will represent half of the workforce by 2020

They are very different from generations preceding them

The workforce is rapidly evolving

Who are these Millenials?

Represent the 20 and 30 somethings in the workplace

Upbrining characterized by:

− Greater affluence than previous generations

− Were raised alongside the internet

− Opinions were valued in the household

− Structured and nurturing parents

How does this translate into the workforce?

More educated than previous generations

− Hungry for information

Prone to short tenures

− Confident in their transferable skills

Want meaningful work

− Look to contribute meaningfully and are socially conscious

Tech dependent “digital natives”

− Digital data is embedded in their functioning

Why the cat picture on the title slide of this presentation?

What do they value?

Knowledge on how decisions are made

Open and frequent feedback

Leadership exposure

Development opportunities

Personal satisfaction through their contributions

Flexibility

Case Study Initial Response

2008 - Recognized a demographic challenge

Established a management working group

Perceived generational gaps

Identified a succession issue − 55% of the workforce was eligible to retire in 5 years

Framed the problem as one of knowledge transfer in the face of retirements

“55% of our workforce will be eligible for retirement in the next 5 years – who will do all this work when we’re gone – and

will they be as smart as we are?”

Among the efforts to overcome the challenge Increased focus on succession planning

Strategy to “Attract, Retain and Engage”

Emphasis on better documentation

Strengthened information policy

Investment in information management systems

Case Study Initial Response

Observations

Succession planning for succession planning− knowledge still walking out of the door

Single-person dependencies continued

Knowledge risks persisted

Case Study Five Years Later

Perhaps we didn’t frame the problem as best we could have from the outset?

Benefit of hindsight…

Narrow, short-term perspectives compromise ability to solve problems within larger contexts

Case Study Five Years Later

Case Study NASA

Unveiling hidden assumptions key to framing problems

A simplified NASA example…

Problem Pens don’t work in space due to ink failures, zero gravity, and irregular temperatures

Solution Invest millions to develop a space-friendly writing instrument

Organizational Case Study NASA

The Soviet Solution

Case Study NASA

Lesson Problem statements need to be grounded in the larger context

Case Study NASA

SOVIETS

We need to write in space

We need a better pen

NASA

Let’s apply the Fisher Pen storyto our case study

Case Study Lessons Learned

Problem We need to stop losing knowledge through employee retirement

Assumptions Management theory of the past is relevant for the future

Management theory of the past may need to evolve for the future

We need to retain knowledge independently of employee turnover

Problem We need to stop losing knowledge when our employees retire

Assumptions Management theory of the past is relevant for the future

We need to retain knowledge independently of employee turnover

Management theory of the past may need to evolve for the future

People The most valuable asset

Experience Depth more important than breadth

Demographics Nature can be molded to organization

Case Study Lessons Learned

People The most valuable asset

FALSE• Knowledge is also a valuable asset• People are a vessel for information and knowledge• Older demographics did a great job• The Millennial shift impacts how we look at knowledge

Case Study Lessons Learned

One of the most valuable assets

FALSE• Depth of experience important• Breadth of experience important• Breadth presents additional advantages• Millennials offer opportunity to innovate

Experience Depth more important than breadth

Case Study Lessons Learned

One of the most valuable assetsBreadth as important as depth

Knowledge ModelDavenport and Prusak

Capture of discrete activities

Data with context

Identification of patterns to inform decisions

Case Study Lessons Learned

RFQ RFS

Sourcing for Depth/Execution

Sourcing For Breadth/Innovation

Applying depth and breadth to sourcing

RFP

Case Study Lessons Learned

FALSE• Millennial shift has disproven this assumption• Nature is molded by values• Organizations don’t change demographic values• Organizations need to harness demographic values

Case Study Lessons Learned

Demographics Nature can be molded to organization Orgs need to adapt to demographics

Cultural Iceberg Model Edward T. Hall

If Millennials are cycling through every two years…

build them a raft!

Case Study Lessons Learned

Case Study Lessons Learned

Going back to Davenport and Prusak

Systems/CRM

Documentation

People retention

Case Study Lessons Learned

Going back to Davenport and Prusak

Knowledge capture

Documentation

Systems/CRM

CRITICAL MASS

New Approach Knowledge Strategy

Critical Mass approach & traditional theory

Past solutions across four key elements in organizations− routines− processes− practices− norms

Modifications to harness today’s changing workforce, manage risk and promote innovation

New Approach Knowledge Strategy

Routines Repeated patterns of behaviour

Useful for facilitating recurring tasks

In the Past Regular set meetings

Standing update agenda

Problem Little to contribution to organizational knowledge

New Approach Focus on key decisions and context

Example Mailing campaign

Why this works from a millennial and human perspective

Harnessing: −Millennial's values of knowledge and regular feedback

Managing risk: − Knowledge sharing

Promoting innovation: − Tapping into millennial's decision making skills

New Approach Knowledge Strategy

Processes Collection of structured tasks to produce an outcome

In the Past 400+ procedures

Problem Little contribution to decision- making

New Approach Two-in-the-box approach

Focus on key decision areas

Example Affidavit procedure

Why this works from a millennial and human perspective

Harnessing: −Millennial's values of leadership exposure and development opportunities

Managing risk: − Inclusive knowledge development

Promoting innovation: − Tapping into millennial's unique perspective and breadth of experience

New Approach Knowledge Strategy

Practices Application of information & skills to a broader, more complex function

In the Past Solely people dependent

Problem Faster turnover cycles

New Approach Build critical mass in key areas of knowledge

Example Curricula, knowledge managers, Pricing history

Why this works from a millennial and human perspective

Harnessing: −Millennial's value of meaningful contribution

Managing risk: − Knowledge management and dissemination/preventing repetitive error

Promoting innovation: − Tapping into millennial's breadth of experience

New Approach Knowledge Strategy

Norms Informal values, guidelines, and organization culture

In the Past Sandbox tendenciesI’ve always done it this way syndrome

Problem Does not support optimal decision-making or

knowledge growth

New Approach Consultation and collaboration

Example Dealing with complaints

Why this works from a millennial and human perspective

Harnessing: −Millennial's value of flexibility and meaningful contribution

Managing risk: −Aligning and communicating values

Promoting innovation: − Tapping into millennial's engagement (mobilization of their unique skills)

Objectives Recap

KEY TAKEAWAY

Millennials represent opportunity to build greater value

✓ Explore the millennial shift facing organizations today

✓ Identify how organizations can harness this shift

Highlight practices key to engaging the new generation

How to engage Millennials? Focus on engagement rather than retention

Link work to the mandate of the organization

Recognize that Millennials are born digital− new tools; any device, any time, anywhere

Project work outside of “home” area−working with a Baby Boomer or Gen Xer

New Approach Engagement

How to manage Millennials? Develop culture of trust

− transparency

− clearly set, measurable goals

−measure what matters

− provide in the moment feedback

Develop mentoring program− cross-generational

New Approach Engagement

The next shift – Generation Z

The trends of millennials are expected to intensify− the internet generation; will not remember a world before modern tech

− less loyalty to organizations; more entrepreneurial

−may be better educated than earlier generations

Retooling for millennials will help preparation for Generation Z

New Approach Engagement

Fighting the Millennial tide increases risk

Swimming with the tide reduces risk

Adapting to Millennials transforms risk into opportunity

Need to change how we frame our problems

The reward: improved innovative capacity

In Closing…

THANK YOU!

YOUR FEEDBACK IS IMPORTANT

Please take a few minutes to complete this

brief survey.

Survey link:

www.instituteforsupplymanagement.org/FC17or Scan the QR code on your smartphone.

References

http://www.kushima.org/is/wp-content/uploads/2013/09/Davenport_know.pdf

Edward T. Hall: cultural iceberg model: http://www.spps.org/cms/lib010/MN01910242/Centricity/Domain/125/iceberg_model_3.pdf

Bentley University - http://www.bentley.edu/centers/center-for-women-and-business/millennials-and-corporate-world

Prweb -http://www.prweb.com/releases/2012/8/prweb9817689.htm

15 Economic Facts About Millennials – The Council of Economic Advisors – the Executive office of the President of the United States -https://www.whitehouse.gov/sites/default/files/docs/millennials_report.pdf

http://www.forbes.com/sites/kathycaprino/2014/05/01/quit-trying-to-engage-millennials/#4cb9c1be6c94

Source: http://thegbrief.com/articles/why-are-millennials-obsessed-with-cats-654

Journal of Business Psychology - December 2015, Volume 30, pp 759-772 -Examining the Energizing Effects of Humor: The Influence of Humor on Persistence Behavior

http://www.forbes.com/sites/kathycaprino/2014/05/01/quit-trying-to-engage-millennials/#4cb9c1be6c94

References

Mcgee and Prusak (1993) noted that core competencies are not what an organization owns, but rather what it knows.

In the 1970s Peter Drucker (1974) may have been the first to describe knowledge workers and knowledge work.

Devenport & Prusak (1998) – in addition to formal and informal documents - introduction of routines, processes, practices and norms

Journal of Business Psychology-2010, Volume 25, pp 225-237- Millennials in the Workplace: A communication Perspective on Millennials’ Organizational Relationships and Performance

Journal of Business Psychology-2010, Volume 25, pp 211-2223- Millennials and the World of Work: An Organization and Management Perspective

Leadership Adavance Online- 2010, Issue XIX, pp 1-6- Developing the Next Generation of Leaders: How to Engage Millennials in the Workplace

Millenials in the Workplace: Positioning Companies for Future Success http://digitalcommons.fiu.edu/cgi/viewcontent.cgi?article=1424&context=sferc