happy at work 4 capturing the young and the restless how to make the edgy gen y commit by david...
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David Bonifacio's talk presentation at the Happy at Work Conference 2014 titled, "Capturing the Young and the Restless: How to Make the Edgy Gen Y Commit"TRANSCRIPT
THE HAPPINESS OF MEANINGLESSONS ON ENGAGING AN EXCITING GENERATION
DAVID BONIFACIODIRECTOR OF STRATEGY, CBTL HOLDINGS INC.MANAGING DIRECTOR, NEW LEAF VENTURESMANAGING DIRECTOR, ELEVATION PARTNERSMANAGING DIRECTOR, IDC MANPOWERPRESIDENT, ISSHO GENKI INTERNATIONAL
THE PHILIPPINES IS A PEOPLE MINE.
THERE IS VALUE WAITING TO BE UNEARTHED, SHAPED, POLISHED, SET, AND
DISPLAYED.
$11,000,000,000lost every year due to
employee turnover*
*United States Bureau of National Affairs
Reasons for Employee Turnover
29%
18%15%
15%
20%2%
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 ENGAGEDin 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
ENGAGE
1. OCCUPY 2. ATTRACT3. INVOLVE4. CAPTURE5. CATCH
6. PARTICIPATE7. 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)
PLEDGE #1:BE PURPOSE DRIVENMEANING 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 expectationsUnmet expectations = Dissatisfaction
BE PERFORMANCE ORIENTED
Notes 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 ORIENTED
Notes 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.”