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What’s the Real Cost of DEI?

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In today’s diverse, dynamic work world, employers increasingly recognize the transformative power of diversity, equity, and inclusion. Still, concerns often arise about the cost of DEI initiatives. The best answers consider benefits as well as costs. In other words, if you want to build a compelling case, focus on business value. But what exactly does that look like?

To make sense of it all, let’s dig deeper into DEI’s true value. This article sheds light on the remarkable return on investment you can achieve with a wholehearted commitment to DEI.

The Benefits of DEI

Consultants at McKinsey have conducted extensive research on the impact of gender and ethnic diversity on financial performance. They found that companies with diverse executive teams are 25% more likely to experience above-average profitability. This finding demonstrates a clear link between DEI and financial success.

Another example underscores the impact of diversity on customer experience. Salesforce, a leading customer relationship management platform company, is known for its strong commitment to DEI. But this didn’t happen by accident. In 2020, Salesforce revamped its talent acquisition strategy and training programs to reduce bias and expand minority employment opportunities.

Within a year, the company more than doubled its hiring rate among marginalized communities. In addition, internal research revealed that employees from these diverse groups became more engaged and contributed to higher customer satisfaction ratings.

How much should your organization invest to become more ethical and profitable? Let’s explore….

The Cost of DEI

Diversity budgets come in all shapes and sizes. They range from a modest $10,000 to a mind-boggling $216 million. But the sweet spot lies at a median budget of $1.2 million. 

When allocating funds to increase workforce diversity, you can prioritize specific business activities (training programs, recruitment, recognition) or functions (HR, Marketing, Community Relations). 

For smaller organizations with fewer than 1,000 employees, it is feasible to initiate DEI efforts by assigning specific responsibilities to existing staff members. For example, you could allocate about 50% of an existing employee’s role (such as an HR project manager), to oversight of DEI initiatives. This makes it possible to integrate DEI responsibilities into your workflows without creating a dedicated role or team.

However, in larger organizations, it’s crucial to establish clear ownership of DEI with a dedicated role or team. This ensures that DEI efforts receive the necessary focus and resources to drive meaningful change.

At the average Fortune 1000 company — with a workforce of 34,000 people and revenue of $15 billion — the DEI budget is significantly larger than other companies require. For a smaller organization — with 2,ooo-10,000 employees — a reasonable estimated budget for establishing a DEI program is likely to range from $50,000 to $300,000.

But no matter what your company size or DEI budget, the key is to spend that budget effectively. How should you allocate available funds? Let’s look closer…

Structuring a DEI Budget

The range of DEI expenses varies, depending on numerous factors, such as an organization’s size, industry, geographic location, and scope of DEI initiatives. It’s important to note that there is no fixed or universal standard for DEI budgeting. Each firm faces unique financial realities and priorities.

Now, let’s break down ways to distribute your budget across key areas:

1. Personnel Expenses

This includes any costs associated with hiring and maintaining a dedicated diversity and inclusion team. It may include salaries and benefits for DEI professionals to develop your strategy, implement initiatives, offer guidance, and provide support.

2. Training and Education

This covers expenses for design, development, and delivery of diversity and inclusion training programs, workshops, and seminars. It can include the cost of external trainers, development of training materials, e-learning platforms, or subscription fees for diversity and inclusion training resources. Investment in engaging, transformative training programs varies widely, from $30,000-$150,000.

3. Recruitment and Branding

To promote diversity and inclusion, budgeting for recruitment and hiring initiatives is essential. This may include expenses for advertising on diverse job boards, attending job fairs that target underrepresented groups, engaging with recruitment agencies that specialize in diverse talent, or implementing software and tools that help reduce bias in the hiring process. Companies usually set aside $10,000-$30,000 for DEI-focused recruiting and branding initiatives.

4. Employee Resource Groups 

Employee resource groups can foster a sense of belonging and provide a platform for underrepresented employees. But you’ll need a budget to establish and sustain these groups. This can include funding for ERG events, activities, resources, and initiatives that promote DEI within your organization. Employers often allocate $10,000-$30,000 for this line item.

5. Policy Development and Implementation

This ensures that your organization’s policies align with DEI principles. It may involve expenses for external experts, legal consults, or HR DEI specialists to review, update, and create relevant policies. However, you can manage this process without extra expenses. These tips can help:

  • Review your existing policies and practices to identify potential biases or barriers. 
  • Make necessary adjustments to ensure inclusivity across various functions and responsibilities, such as hiring, promotion, and performance evaluation. 
  • Encourage transparency and accountability in decision-making to prevent bias and discrimination.

6. Data Collection and Analysis

Investing in data collection and analysis tools enables organizations to track DEI progress effectively. Budgeting for these resources may include expenses related to software, surveys, and data analysis tools. It may also include the cost of consultants to conduct audits and assessments.

7. Community Partnerships

To build external relationships and demonstrate a commitment to DEI beyond the workplace, employers often allocate a portion of their budget to community engagement and partnership programs. These are common steps:

  • Look for external organizations or community groups that align with your DEI goals.
  • Consider how these efforts can open doors for additional expertise, resources, and networking opportunities.
  • Collaborate with appropriate groups to define joint initiatives, such as workshops, panel discussions, or mentoring programs. 

A budget of $5,000-$50,000 can help drive effective partnerships or sponsorships.

8. Ongoing Evaluation and Measurement

Budgeting for ongoing evaluation and measurement is crucial because it ensures that you can determine the impact of DEI initiatives. This may include funds to conduct surveys, audits, or focus groups. It may also include the cost of hiring external consultants to evaluate your company’s progress.

Meanwhile, you can save money on evaluation activities by regularly measuring DEI ROI.

The ROI of DEI

To showcase the value of your DEI efforts, you’ll want to estimate ROI. Follow these steps:

1. Identify Measurable Objectives

Start by defining clear objectives for your DEI initiatives. These objectives should align with your organization’s overall goals and values. For example, you may aim to increase employee retention, enhance innovation through diverse perspectives, or improve customer satisfaction and loyalty.

2. Determine KPIs

Select specific key performance indicators (KPIs) that align with your objectives. These metrics should be quantifiable and trackable over time. For instance, you could measure employee satisfaction and engagement, diversity representation at various levels of the organization, or customer feedback related to diversity and inclusion.

3. Establish a Baseline

Before implementing DEI initiatives, establish a baseline measurement for each selected KPI. This provides a starting point, so you can measure subsequent progress. The easiest way to do this is to gather and analyze available data from existing HR and business systems and programs. You may also want to collect and analyze relevant data by conducting preliminary surveys, assessments and interviews.

4. Track Progress and Impact

As you implement DEI initiatives, regularly monitor and track the selected KPIs. They may include minority hiring rates, promotion rates, turnover rates, employee satisfaction scores, customer satisfaction scores, or other relevant metrics. As you measure change in each metric over time, you can follow your organization’s overall DEI progress. This trend analysis will also help you quickly identify unexpected issues that should be researched and resolved. 

5. Assign Monetary Value

By assigning a value to improvements in selected KPIs, you’re taking a vital step forward in justifying the cost of DEI initiatives. This step can be challenging, but it will help you demonstrate the tangible benefits of your efforts. For example, you could estimate the cost savings associated with reduced turnover, or the potential increase in revenue resulting from improved customer satisfaction and loyalty.

6. Compare Investments and Returns

Next, estimate ROI by comparing tangible DEI costs (financial resources, time, and effort) with the monetary value you’ve assigned to improvements you’ve observed. In other words, subtract actual costs from tangible benefits. Ideally, the result of this calculation will be a positive value (benefits – costs = net benefit).

7. Consider Qualitative Impacts

While ROI calculations often focus on quantifiable metrics, it’s also vital to consider qualitative outcomes. In other words, for some business endeavors, the overall positive impact can far exceed the result of a straight cost/benefit equation. Look beyond the numbers to consider the importance of qualitative benefits such as a more vibrant work culture, improved employee morale, enhanced brand reputation, and stronger relationships with diverse communities. Goodwill may be intangible, but it is a powerful business asset.

A Final Note on the Cost of DEI

Some companies have struggled to demonstrate the value of their DEI initiatives. However, with thoughtful planning and an ongoing commitment, it is possible to develop an effective working budget and successfully demonstrate ROI.

Although the upfront cost of DEI initiatives may seem steep, organizations can experience tangible benefits in the long run. But the true value of diversity, equity, and inclusion actually goes beyond financial success. DEI has the potential to elevate your work culture, customer relationships, and brand position in ways that can transform your organization for the better.

Developing a Training Program With Better ROI

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Despite the economic downturn, training and professional development expenses in large companies rose from an average of $17.17 million in 2019 to $22 million in 2020. Similarly, small businesses also increased their investments in training by over $100,000. With so much money being spent, it would be easy to assume that companies of all sizes are seeing clear returns on their investments (ROI). Unfortunately, that doesn’t seem to be the case. One study found that only 11% of employees actually end up applying the training they receive to their day-to-day work. Why is there such a disparity between spending and results? Is training at work even worth it? The answer is yes, and it’s time for companies to shift their focus to developing a training program with better ROI.

How Training Programs Fall Short

The problem isn’t with training so much as the way many organizations approach developing and implementing a training program. All too often, companies rush into these programs without reflecting on what’s really needed to support their objectives. Consequently, not enough work is done to understand the challenges employees face, how they learn best, and what sort of follow-ups are required.

As an HR leader, you must transition from implementing professional training for training’s sake to analyzing each program’s effectiveness and ROI. Even moving the needle a few percentage points could have a significant impact on employees’ success and your company’s bottom line.

Achieving Better ROI in Professional Training

Putting the focus on ROI isn’t as difficult as you might think. Actually, it just requires a little more planning before rushing into training implementation. The goal is to figure out what training methods work best for your organization and calculate the true costs of that training ahead of time.

Set up key performance indicators to measure the success of training programs. Additionally, employee assessments can be used during the training process to more accurately analyze organizational data and the benefits of training and development. The important thing is to turn training from something good in the abstract to a practical, measurable, and mutually beneficial process.

Focusing on ROI will help you create effective training strategies. With this in mind, here are a few steps that can help you focus on developing training programs with better ROI:

1. Develop an integrated education and talent management framework. 

There’s no silver bullet when it comes to the perfect training program, but the right framework can ensure a strategic alignment of objectives and outcomes. Select and align programs to the specific needs of your organization. If you currently have training programs that don’t fit into this new framework, cut them. Every initiative should be moving your employees in the right direction for your business.

2. Create a digital strategy.

Up to 77% of organizations in the U.S. already use e-learning. A digital approach to training is more flexible, easier to access, and more engaging. Today’s digital learning platforms incorporate a variety of different techniques to keep employees interested, including interactive quizzes, videos, and games. Tailor E-learning to each employee’s specific needs as it pertains to their position or role. Using assessments prior to training can better determine individual learners’ needs, motivations, and preferences. Far too often, the learner’s perspective is not captured when it comes to training. The right digital strategies can fix that.

3. Favor flexibility.

Training needs to adapt fast to the changing needs of consumers and the economy itself. The ability to rapidly adjust resources to serve learning needs as they arise is crucial. Locking into a top-down formal approach doesn’t accommodate this. Instead, emphasize flexibility in your content and delivery modes to stay agile.

4. Keep an eye out for silos.

Silos in training can result in duplicate programs and inefficient use of data. So, be sure to thread learning throughout the day-to-day operations of a business so it works alongside its objectives. Many training programs use what’s known as a 70:20:10 learning framework to address this. This means 70% of training occurs while working, 20% happens during collaboration, and 10% takes place through more formal means, such as classroom sessions.

You can reduce the silos that pop up by fostering intentional connections between training programs among different business units and HR programs. This will promote learning networks and help ensure stakeholder alignment when it comes to rollouts. You should also remove the silo between theoretical training and practical application by implementing real-life applications and leadership encouragement.

The Importance of Resiliency

Be sure to implement resiliency alongside other strategies in order to make the most of training. This has become a key human skill across HR departments as agility and adaption have become essential to survival.

Resiliency in the business world means drawing actionable insights out of a variety of different sources. The goal is to be ready to change course quickly while also planning for a longer-term evolution. Effective training strategies should incorporate resiliency in order to prepare employees for real-world work.

Teach your employees resiliency through individual virtual training and group activities. These methods not only help employees learn resiliency, but they also give you a better idea of how each person handles tough situations. From there, you can apply additional training where necessary.

Training is not a set-it-and-forget-it type of thing. Therefore, employers must reevaluate training regularly and adapt it accordingly so that it remains applicable to both your company’s and your employees’ goals. By emphasizing resiliency and focusing on creating flexible, practical training programs, you’ll see better results.

Learning ROI – It’s Time to Shift the Narrative

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Learning and development (L&D) is driving big investments for businesses, with estimates of $96.3 billion spent in 2017 alone. With steep costs associated with L&D, it stands to reason that business leaders would want to see their ROI, but this poses a problem: It’s impossible to calculate ROI of learning the way we do other areas of investment because ROI is traditionally a financial calculation, while learning is a deeply human process. To think of it any differently will result in an imperfect assessment of the value of L&D.

ROI is traditionally focused on causation — if you invest this much, you’ll get this much back — and this model works fine for many types of spending, such as marketing (e.g. SEO optimization spend yields X increase in clickthru rates). But the elements of causality are hard to find in uncontrolled environments like companies and classrooms. Once we accept that causation is not a viable measurement for learning, the next step is identifying the mechanism that will help determine learning ROI — correlation.

From in-person conferences and live online courses to self-directed access to problem solving, companies are providing a diverse range of learning resources. Correlations between the use of these resources and business outcomes can be found in a number of places. For instance, most organizations have the ability to track their employees’ “touchpoints” — engagements with their learning programs, online or in person — and to determine how frequently they participate. Many organizations may also have a system for tracking performance and potential, often rating or ranking on both dimensions. By using the information provided by these systems, L&D leaders can map learning engagement to an organization’s most important goals and employee measurements.

In looking at this data, you might find that your organization’s highest performers are also the most engaged learners, and that correlation can point to direct business value. Further, if you see that high-performers are performance-adjacent learners — meaning they jump in and out of a company’s learning tools to get answers — then it can be further surmised that this approach has a direct impact and value to the business while simultaneously justifying investment in learning tools.

Conversely, the lowest performers in an organization, as determined before learning measurement begins, offer a chance to chart improvement with learning resources. Their improvement helps L&D leaders make the case that these resources are directly helping employees gain skills. If those same employees are measured by engagement, there can be further measurements to determine whether and how employees who interact with learning programs reach proficiency faster than those who engage less frequently.

To best measure the impact of L&D, follow this five-point checklist:

Examine critical business and HR metrics and then correlate learner engagement and learner behavior with those metrics.
Work to align learning engagement metrics with the things the business inherently values. Insights such as how often your best performing employees use your online environment and for how long can suggest ways that other employees can better succeed.

Don’t get trapped into overselling smile sheets or other Kirkpatrick Model Level One or Level Two assessments.
Such assessments can certainly be useful, but they are limited because they can’t accurately measure future skill retention or application. For example, while a pre- and post-test for tangible, fact-based information that you want to be disseminated might be somewhat helpful, it’s important to be cautious in interpretation. Such tests most likely tell you that the learner can recall what was just taught, but the tests suggest nothing about behavior changes or business impact.

Play the long game and set expectations.
Make sure the business leaders in your organization understand that the outcome of learning interventions must be observed over time and might sometimes feel intangible. Talk with management about their own experiences in learning a new skill or functional area — how did they or anyone else measure their success? Additionally, outline the data you plan to gather and report back to leadership throughout the entire program. This commitment should allow you to discuss how, over time, the investment will pay off.

Create a targeted strategy around Kirkpatrick Model Level Three and Level Four assessments.
Some companies offer dozens or even hundreds of possible learning experiences every year. For these organizations, it’s too burdensome to send out observation teams or to collect observational survey data for every experience. Rather, identify a few learning experiences that have the greatest possible impact and seem feasible to observe. Spend energy around Level Three and Level Four assessments in these areas only.

Argue table stakes, not sweepstakes.
While measurement is important, it’s time to make the case with senior leaders and key funding decision makers that new factors have changed the game. According to a recent Dale Carnegie survey, 87 percent of millennials say that professional development and career growth are significant to them. The same survey found that companies with engaged employees outperform those without by up to 202 percent. These are numbers that should not be ignored or taken lightly. What’s more, the war for talent is not slowing, and it’s costly to attract and replace talent. A recent study by Udemy found that 46 percent of employees say that limited opportunities to learn new skills is the top reason why they are bored in their current roles and, as a result, 61 percent of those employees are likely to change jobs to pursue opportunities that are more rewarding.

Development opportunities are now crucial to maintaining a competitive workforce, and L&D must be recognized as affecting not only performance but also talent retention, employee engagement and other business metrics. Correlation helps us draw lines between L&D engagement metrics and mission-critical organizational goals, which makes it easier for business leaders to recognize the value of L&D. When we shift our view to this vantage point, L&D professionals will be empowered to tell meaningful, data-driven stories that align with the goals of their organizations.

 

Why You Can’t Afford to Skimp on Employee Engagement

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We’ve all heard the case for employee engagement—higher engagement levels lead to greater employee output, increased productivity and favorable business outcomes. So why do so many leaders treat engagement like just another task on their to-do list?

The short answer: historically it’s been difficult to measure and improve engagement real-time. When confronted with understanding engagement and what drives it, organizations seldom know where to start. And the traditional methods for understanding how engagement data translates into employee loyalty and performance have generally provided outdated information leading to non-impactful action and, ultimately, missed business outcomes.

Employee engagement is the cognitive, behavioral, and emotional commitment of an employee to an organization and its goals. An engaged employee possesses a deep understanding of what it takes for the organization to succeed and is willing to go the extra mile to help the business get there. She is not working for the paycheck, rather the success of the organization, and will go “all in” as a result.

Engagement Positively Affects Your Bottom Line

Why does this matter? The value of engagement is often considered a soft strategy (a ‘nice to have’ versus a ‘need to have’) and has long been understated due to a lack of knowledge around its fiscal benefits. However, it’s not only an advantage to have loyal employees that are willing to go above and beyond, but organizations can also harness this enthusiasm to promote strong business outcomes. In fact, those businesses with engaged employees outperform those with low employee engagement by 202 percent. Additionally, organizations with a highly engaged workforce experience a 19.2 percent growth in operating income over a 12-month period.

Engagement Directly Reflects Your Brand and Impacts Customer Loyalty

Employee engagement benefits the external face of a business. While a paycheck is sometimes enough of an incentive to get an employee to show up on time, promoting an engaging culture and  empowering employees to make independent decisions that will positively impact the customer experience will drive increased business outcomes. Many studies have shown a direct and positive relationship between employee engagement and customer loyalty; companies that deliver a better customer experience enjoy stronger business results. And they gain a competitive advantage when they promote a seamless brand experience through “all-in”  employees.

“All-in” is a term that can be explained through the displayed excitement, enthusiasm and happiness of an employee or group of employees, and it shouldn’t be underestimated. These positive feelings are palpable to customers and convey a sense of energy and optimism. Emotion makes people act. We all understand this. If a customer is greeted by a disgruntled employee, that customer is likely to take their business elsewhere. Conversely, if a business’s first touchpoint with a customer is an engaged employee willing to go the extra mile, that goes a long way to build a customer’s satisfaction and loyalty. Take In-N-Out Burger for example, which has an average of more than 4.3 stars on Glassdoor. Yes, In-N-Out Burger has a popular product, but its core focus is on empowering its people to provide world-class customer service. By fostering internal empowerment and engagement, In-N-Out then reaps the benefits of exceptional employee engagement with a high degree of loyalty to the organization from its customers.

How to Measure Employee Engagement

While the benefits of employee engagement are clear, measuring these efforts might seem more ambiguous. The common practice of annual engagement surveys typically represent a “box-checking” exercise, and have run their course as a means of engaging people . They have done little to actually empower employees to do better in their roles. It’s true traditional surveys may offer visibility into engagement across the organization, but they provide outdated information and offer little guidance in terms of what the data has to say. To take action from survey data that will have real and positive impact, the right people – managers and leaders – need real-time insights into the health of the organization, including indications of where the biggest obstacles to success lie at any given time. Beyond that, leaders and managers need the guidance and a framework to take specific action to improve focus areas. Traditional survey methods simply don’t provide these insights in a timely and relevant manner.

The field of people analytics is opening the door to better data, as well as the guidance to improve. With emerging technology and artificial intelligence, we have the ability to end the “one-size-fits-all” approach to talent management and instead promote individual success. Glint for example, uses real-time insights to give organizations access to the most current data while highlighting strengths, weaknesses and trends. The insights provided help uncover critical challenges and promote continuous improvement, leading to better business outcomes like increased customer satisfaction.

Employee engagement is essential to every business. With $11 billion dollars lost annually due to employee turnover, it costs businesses not to invest in their workforce. Additionally, the direct correlation between individual employee success and customer satisfaction make it impossible to treat employee engagement as a “check-the-box” exercise, but rather should be viewed as a key strategic component to any thriving organization.

Photo Credit: thereseeirene Flickr via Compfight cc

March Madness: Look Beyond “One Shining Moment” for Lasting Results

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This is the time of year when sports fans pay attention to college basketball: The NCAA Men’s Division I Basketball Tournament – a.k.a. “March Madness” – officially kicks off with the “First Four” on March 15 and wraps up with the traditional playing of the song, “One Shining Moment,” at the end of the championship game on April 4.

While no team will enter the tourney with a dominating record, Villanova and Kansas have certainly had great seasons. It’s also interesting to note that the two teams have relied on experienced talent: Villanova has eight juniors and seniors on its 14-member roster, and Kansas has 10 juniors and seniors among its 16 players. In addition, juniors and seniors have served as the top three scorers for both Villanova and Kansas for much of the season.

Not all programs go about team-building in the same manner. Take the University of Kentucky and its head coach John Calipari, who is famous for targeting what are called “one and done” high school stars – blue-chip athletes who play at Kentucky during their freshman year, then leave for the NBA. Last season, however, Kentucky came to the tournament with a perfect record but lost in the Final Four to a far more experienced Wisconsin squad. And while Duke won the championship last year primarily with freshman superstars, the two prior winners – Connecticut and Louisville – were led by upperclassmen.

This demonstrates that winning schools don’t always build their programs with “elite” blue-chippers. Many prefer high schoolers who perform just under that level but are more likely to play three or four years, to derive longer-term value. Organizational HR/talent management executives should consider a similar approach. Why? Because, in recruitment, there’s a risk in focusing solely on job candidates from the most exclusive and high-profile colleges and universities. Frequently, these candidates join a company to earn some impressive resume bullet points quickly, and then immediately move on to the highest bidder.

For example, I once worked with an HR department which encountered this. Its managers sought graduates coming out of top-tier schools with 4.0 GPAs, and they were thrilled when they landed these grads, thinking they had “won” the recruitment game. But they were wrong. The 4.0 graduates only lasted with the organization for a short time before (to borrow a famous quote from NBA star LeBron James) “taking their talents” elsewhere. Through analytics, I was able to show the department that it was getting more out of its 3.2 GPA college grads because these employees stayed for years while earning superior performance reviews. Within a reasonable period, the same staffers developed as key leaders.

The lesson learned: Vision and analytics must come together to implement a talent management strategy that fosters a “game plan” of lasting, continuous improvement, bringing the following benefits.

Continuity. With analytics, you assess the traits of candidates who are likely to remain with an employer while meeting or exceeding performance expectations. Which schools do they come from? What are their GPAs? What academic and community activities do they participate in? Where did they serve as interns? Then, you deploy analytics to determine which onboarding, training, mentorship and other support programs help these employees succeed. To extend needed continuity, allow analytics to predict when key contributors are likely to retire, so you can plan ahead to replace their skill sets. Thus, you recruit and develop an indefinitely stable and productive workforce.

Investment/ROI. Since you’re not seeking “one and dones,” you’ll reap the rewards of employees that will hopefully stay with your organization for longer than average. While you still need to keep recruiting and remain on the lookout for top talent, you’ll gain the most bang for your recruitment investment, and not waste onboarding and training costs for people that won’t stay around.

Leadership. Once again, pure talent doesn’t automatically translate to a “title.” Plenty of “Cinderellas” make an impact in the “Big Dance” of college basketball, like George Mason’s Final Four season in 2006, or Butler’s back-to-back finals appearances in 2010 and 2011. Leadership has proven essential here, enabling a team to rise above its collective skill level. At your organization, talent management analytics can help you gain a competitive edge via the intangible but still critical component of leadership. First, analytics can identify the common characteristics of leaders, involving factors such as productivity, performance quality, and engagement levels. Then, you accelerate their progress through training. Hence, you nurture an environment in which expectations for everyone – both leaders and the staffers they inspire to do better – are surpassed.

In talent management, there are all kinds of ways to “win the big one.” But do you want to do so through a repetitive, time-consuming – and expensive – “one and done” model? By taking advantage of analytics to align recruitment/development to long-term strategies, your organization will prosper in a lasting, impactful way, at a significantly lowered cost.

After all, why settle for “One Shining Moment” when you can enjoy success – over and over again?

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Don't Believe The Hype: Unlabeling Millennials

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Ever since the CoBies — Google’s multidirectional Conference Bikes that transform going for lunch into a team-building exercise — the image of millennials in the workplace has turned into a kind of perpetual second-guessing. So young, so self-possessed, so smart, so not into phone calls! So what else do they want?

This kind of approach is both fascinating and frustrating to HR in general and thought leaders especially (Ahem). It’s also beside the point. I’m not one to place labels on people. The “new generation” customarily befuddles the older; the older generation usually wants to take it upon themselves to school the younger. One difference here: millennials’ facility with digital, mobile and social means that they tend to be the teachers. But that same digital dimension also stimulates a vexingly stubborn case of us and them.

Get over it

Yes, millennials did seem to arrive fully dressed (in extremely skinny pants), with tools — as if born texting, that first infant cry a hashtag. But that’s just confluence. And taking to mobile and social like fish to water? That deserves credit, not headshaking.

The very term millennial has marketing-ploy written all over it; and that works contrary to the role of HR, which is to recruit talent. Here’s the basic premise to recruiting talent: Recruit talent. The best candidates for the position, not generations, not mystique. Hu-mans. Also, it’s a recruiter’s or hiring manager’s job to see past hype and stereotype in order to create an authentic and constructive relationship between candidate /new hire and company. So let’s look at two millennial trends and see what they really mean.

Millennials don’t care about money

A recent Case Foundation study found that 55 percent of millennials are influenced by cause work when deciding to join a company. Meaning and mission clearly play a role in their employment choices.

Look again: That doesn’t actually mean they don’t care about money. Yes, many millennials are concerned with causes, and given issues like climate change, that’s not surprising. Nor are millennials the only generation to consider the ethical value of work.

But this may be a savvy adaptation on the part of these here kids. Studies show that millennials are on track to be the most educated generation to date, according to the Pew Research Foundation. They’re also saddled with debt: a White House study puts outstanding student loan debt at over $1 trillion by the end of 2014 — partially due to greater enrollment among millennials. And despite the job market heating up, millennials are still underemployed, and making lower starting wages since the economy’s tumble. This puts looking for work with more than just a crappy salary in a different light. Sort of a silver lining, look at the bright side kind of light.

Millennials want to know the Big Picture

When interviewing and talking to recruiters, millennials want to know more than just the nature of their particular job. They want to know about how they can grow, what they can expect to accomplish, and how they can fit into the mission of the company.

In truth, transparency is always better: it’s far more productive in the long term for a recruiter to paint the whole picture, not just the small stuff. This promotes a better fit for candidate and company, which leads back to a holy grail in HR: retention.

Even from a company perspective, big picture conversations offer far better indicators for a good ROI. But here’s another point: given that millennials came of age and streamed into the job market at a point when jobs were drying up and the economy was tanking, there are plenty of practical reasons to want to be informed about growth and the potential for accomplishments.

Again, look at the economy: The job market is improving, but there’s a new kid in town, Generation Z. Actually, as a recruiter, I’d take the millennial request for the bigger picture as a plus: it speaks to commitment. Which refutes the “job hopper” mis-label that sometimes gets stuck on millennials. It also makes them more like everyone else, not less; the quest for engagement and growth at work is not unique to people under the age of 34. This is an everybody issue.

Soon enough, millennials will be the new normal; they now comprise a solid one-third of the workforce not yet hitting retirement age. High time to consider talent the fulcrum, not generational trends. Yes, each generation offers a skill set and a mindset more suitable to certain positions or purviews than others. But that’s a sweeping overstatement. No matter the organization, mission or corporate culture, whether employees travel on wacky team-building googlecycles or in drab shuttles, whether in Silicon Valley or Duluth or Madras, different generations all contribute their part to a workforce, and each individual employee is what matters. The sooner we stop trying to get the label to stick, the better our chance to not become unglued in the process.

Picture: thestocks.im

A version of this article has been published on MillennialCEO on 4/20/15

Telecommuting Tools: What's Your Plan?

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Virtual teams are truly gaining ground in today’s workplace, thanks to the convergence of three factors:

1) More employers recognize the value of flexible work models,
2) Workers are open to remote options, and
3) New cloud-based technologies make it easy to connect, communicate and collaborate.

Many employers now allow members of their workforce to operate entirely from home — while other companies support more limited forms of telecommuting.

Telework = Serious Savings

There are compelling business reasons why organizations and individuals should evaluate this trend. According to research compiled by Global Workplace Analytics, 50 million U.S. employees have jobs that are compatible with telecommuting, and are willing to pursue it at some level. It’s estimated that, each year, if all those who are able and willing worked from home even half of the time, a typical employer would save $11,000 per person, while the typical telecommuter would save $2,000-$7,000.

But regardless of how much money telecommuting can save, one thing is certain — it’s essential to invest in viable technology to ensure that remote workers can succeed in their role.

110727_GIST_The_Mobile_Worker4

See the infographic and more details at Mashable

3 Keys to a Telework Technology Plan

Before assuming which tools are ideal, it’s wise to look for helpful insights from workstyle studies. For example, a 2011 study by GIST profiles remote work behavior across multiple dimensions — identifying locations remote workers prefer, and revealing how they accomplish tasks on the go.

Of course, every business is unique, but when you develop a detailed technology plan for virtual workers, it’s essential to consider three key elements: communication, collaboration and connections. Here are some ideas to kick-start your process:

Communication: There are many technologies remote workers can use to stay in touch with team members, managers, customers, and others. Email probably remains the most common communication channel, but text messaging, chat, and instant messaging are also useful when people need to discuss projects, status and other issues in real-time. The good news is that many of those tools work in tandem or on top of popular workplace communications applications.

Skype and similar audio and video conferencing tools are highly affordable, reliable and are easy to deploy and support. They’re ideal for everything from small group meetings and business presentations, to more formal conference-like events. Google+ Communities and Hangouts are also gaining popularity as simple, freely available tools to help groups connect and discuss topics and projects via audio and video, with file sharing and social tools that enhance and extend those discussions.

Collaboration: Remote workers need tools that help them work together with others to generate ideas, solve problems and manage group projects. Google Docs is a great way to co-create content and share information among team members on an ongoing basis. Also, Dropbox and other cloud storage services are popular for exchanging, organizing and archiving content (especially larger files), and for easily accessing content while on the go.

Connections: With today’s vast array of freely available social media and cloud software solutions, keeping your workforce securely and reliably connected is becoming remarkably easy to do. Intranets provide dedicated virtual spaces that help distributed teams work together asynchronously, using embedded social tools to interact. And integrated suites of cloud-based tools like Google Apps for Business help workers easily create, share and manage all kinds of business documents and communications. To learn more about Google Apps for Business, watch this video overview:

Staying Ahead of the Curve

Whether you tap into new web-based tools, or you extend applications that your company already uses in-house, a technology plan is one way to be sure that all your remote contributors stay focused and productive, no matter where or when they’re working. The pace of cloud software innovation is so rapid, your biggest challenge may be staying ahead of new technology developments. However, your efforts should pay off, with telecommuters that are highly efficient and engaged in their jobs.

Your Turn

Does your company encourage telework arrangements? What tech-related issues do your remote teams face? What tools do you recommend to others?

(Editor’s Note: To discuss World of Work topics like this with the TalentCulture community, join our online #TChat Events each Wednesday, from 6:30-8pm ET. Everyone is welcome at weekly events, or join our ongoing Twitter conversation anytime. Learn more…)

Image Credit: Pixabay

Telecommuting Tools: What’s Your Plan?

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Virtual teams are truly gaining ground in today’s workplace, thanks to the convergence of three factors:

1) More employers recognize the value of flexible work models,
2) Workers are open to remote options, and
3) New cloud-based technologies make it easy to connect, communicate and collaborate.

Many employers now allow members of their workforce to operate entirely from home — while other companies support more limited forms of telecommuting.

Telework = Serious Savings

There are compelling business reasons why organizations and individuals should evaluate this trend. According to research compiled by Global Workplace Analytics, 50 million U.S. employees have jobs that are compatible with telecommuting, and are willing to pursue it at some level. It’s estimated that, each year, if all those who are able and willing worked from home even half of the time, a typical employer would save $11,000 per person, while the typical telecommuter would save $2,000-$7,000.

But regardless of how much money telecommuting can save, one thing is certain — it’s essential to invest in viable technology to ensure that remote workers can succeed in their role.

110727_GIST_The_Mobile_Worker4

See the infographic and more details at Mashable

3 Keys to a Telework Technology Plan

Before assuming which tools are ideal, it’s wise to look for helpful insights from workstyle studies. For example, a 2011 study by GIST profiles remote work behavior across multiple dimensions — identifying locations remote workers prefer, and revealing how they accomplish tasks on the go.

Of course, every business is unique, but when you develop a detailed technology plan for virtual workers, it’s essential to consider three key elements: communication, collaboration and connections. Here are some ideas to kick-start your process:

Communication: There are many technologies remote workers can use to stay in touch with team members, managers, customers, and others. Email probably remains the most common communication channel, but text messaging, chat, and instant messaging are also useful when people need to discuss projects, status and other issues in real-time. The good news is that many of those tools work in tandem or on top of popular workplace communications applications.

Skype and similar audio and video conferencing tools are highly affordable, reliable and are easy to deploy and support. They’re ideal for everything from small group meetings and business presentations, to more formal conference-like events. Google+ Communities and Hangouts are also gaining popularity as simple, freely available tools to help groups connect and discuss topics and projects via audio and video, with file sharing and social tools that enhance and extend those discussions.

Collaboration: Remote workers need tools that help them work together with others to generate ideas, solve problems and manage group projects. Google Docs is a great way to co-create content and share information among team members on an ongoing basis. Also, Dropbox and other cloud storage services are popular for exchanging, organizing and archiving content (especially larger files), and for easily accessing content while on the go.

Connections: With today’s vast array of freely available social media and cloud software solutions, keeping your workforce securely and reliably connected is becoming remarkably easy to do. Intranets provide dedicated virtual spaces that help distributed teams work together asynchronously, using embedded social tools to interact. And integrated suites of cloud-based tools like Google Apps for Business help workers easily create, share and manage all kinds of business documents and communications. To learn more about Google Apps for Business, watch this video overview:

Staying Ahead of the Curve

Whether you tap into new web-based tools, or you extend applications that your company already uses in-house, a technology plan is one way to be sure that all your remote contributors stay focused and productive, no matter where or when they’re working. The pace of cloud software innovation is so rapid, your biggest challenge may be staying ahead of new technology developments. However, your efforts should pay off, with telecommuters that are highly efficient and engaged in their jobs.

Your Turn

Does your company encourage telework arrangements? What tech-related issues do your remote teams face? What tools do you recommend to others?

(Editor’s Note: To discuss World of Work topics like this with the TalentCulture community, join our online #TChat Events each Wednesday, from 6:30-8pm ET. Everyone is welcome at weekly events, or join our ongoing Twitter conversation anytime. Learn more…)

Image Credit: Pixabay

Finding Value in Enterprise Communities #TChat Preview

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(Editor’s Note: Are you interested in reviewing all of this week’s events and resources? Read “Communities of Practice and Purpose: #TChat Recap.”)

If you know me, then you know that I’m passionate about communities — digital and otherwise.

My interest in cultivating communities is what drives me as manager at HuffPost Live and TalentCulture, and as the founder of My Community Manager. It’s incredibly gratifying to help people build useful relationships, and to facilitate an ongoing exchange of ideas that is bigger than the sum of its parts.

Digital communities aren’t just a nice idea. They’re also a huge potential source of business value for enterprise organizations, according to management consulting firms like McKinsey. Yet large companies often struggle with how to connect the social dots among their various constituents — employees, leaders, customers, business partners, and beyond.

What Makes a Great Enterprise Community?

Of course, great networking and collaboration tools are helpful in creating and sustaining any kind of social community. But it takes much more than a solid infrastructure. What does it take? That’s the focus of our TalentCulture #TChat forums in the coming week. And we’ve invited two experts to lead the conversation:

#TChat Sneak Peek Videos

Both guests briefly joined me for a G+ Hangout to set the stage. First Jeff defined key terms — explaining how enterprise communities differ from other social networking groups:

And then Maria explained why communities are essential in today’s business environment:

#TChat Events: Why and How Enterprise Communities Work

Need I say more? As you can tell from their interviews, these two experts are just as passionate as I am about exploring the benefits of business-oriented communities. And they’re eager to exchange ideaTChatRadio_logo_020813s with a circle of like-minded professionals. So please join us next week, and add your unique perspective to this very special “community” conversation!

#TChat Radio — Tuesday, May 28 at 7:30pmET / 4:30pmPT — Maria and Jeff join our hosts, Meghan M. Biro and Kevin W. Grossman, for a LIVE 30-minute discussion about enterprise community issues and opportunities.

#TChat Twitter — Wednesday, May 29 at 7:00pmET / 4:00pmPT — Calling all #TChatters to join us for an open online discussion on the #TChat stream. Come on over and share your thoughts. The more, the merrier!

Q1: What are the differences between social and enterprise communities?

Q2: Why has community development and management been more difficult for the enterprise?

Q3: What are best practices for enterprise community management?

Q4: What can business leaders and internal champions do to facilitate quality enterprise communities?

Q5: What community & collaboration technologies make sense for today’s enterprise?

Throughout the week, we’ll keep the discussion going on the #TChat Twitter feed and on our new LinkedIn Discussion Group. So please join us share your questions, ideas and opinions.

We’ll see you on the stream!