TM - February 2008 - (Page 16)

[foundations] by Kate DCamp T T Managing the Next-Generation Workforce he challenge of managing the more than collaboration, or that next-generation workforce should specialization is more valuable than be considered from two perspec- breadth? Does the core assumption tives. Beyond evaluating how the drive an outcome that is desirable incoming workforce will respond today and in the future? to the culture and offerings of the Compensation and benefits will company, it is also critical to delve require a detailed review, including into the rationale for the compafeedback from current employees ny’s current programs and poliand recruiters, to assess the attraccies. Developing an effective approach to managing the next generation requires a The children of the baby close look at the assumpboom care what their tions on which current manparents think. Promoting agement practices are based. Many companies will realize the humanitarian values some of their practices have and philanthropic been perpetuated because of endeavors of the cultural momentum or habit and are inconsistent with organization will help to current and future objecattract and retain them. tives. Consequently, the major systems that govern human behavior require review. tiveness of your offerings. Is comThese systems include: pensation based more on group or • Recruiting: Attracting and individual results or seniority? Are sourcing of candidates. programs motivating the results needed for the business to thrive, • Performance management: or creating barriers? Will the next Goal setting, performance generation be motivated by the assessment, feedback and ratings, current programs? For example, a and succession management. very competitive pension program • Compensation and benefits: may be effective in an environment Direct pay, equity, promotional where long-term careers are opportunities and recognition, desired and likely. If this is no health, dental and vision longer true, emphasis on the pencoverage, wellness programs, sion plan may detract from other life and disability coverage, offerings or even hinder approprilong-term care and child care ate succession of executive roles. programs and opt-in plans, Long-term care and child care were such as tuition reimbursement not historically important in a and employee discounts. workforce that lacked financial For each system, consider what responsibility for their parents and behavior the current practice is had child care delivered by relaintended to drive and if that behav- tives. That is not the reality today. ior is consistent with the current Development and learning opporgoals and strategy. For instance, if tunities may have been used to the recruiting practice is based on prepare for movement into manthe assumption that all hires will be agement or to increase the depth geographically mobile, is this the of expertise in a core discipline. reality? Will it be the reality in the Does your organization have future? Is the assumption behind enough upward movement to justhe performance management sys- tify making this a high return tem that individual stars matter investment? Are core disciplines still critical to the business, or is the situation changing with new technology or outsourcing? Once you have examined the assumptions behind the programs, consider the characteristics of the next generation in greater depth. The next generation has an extremely low boredom threshold. Multitasking is a symptom of the short attention span typical among incoming talent. Organizations will need to offer a wide variety of challenges early in career. Promoting the humanitarian values and philanthropic endeavors of the organi- About the author Kate DCamp is the senior executive adviser at Cisco. She can be reached at editor@TalentMgt.com. zation will help to attract and retain talent. Recognition, which can be shared with family, has more retention value than mere money, although money serves to quantify the value of their accomplishments. Consider that this next generation uses data from the Internet to calibrate the fairness of their “deal” versus competition. Most sources provide very bad data. We will need to provide competitive data more openly, or the reality will be whatever the bad data says it is. Keep in mind that as parents, we encouraged this openness and explained everything in whatever detail the next generation requested. The differences in the next generation are not insurmountable, and they offer significant benefits. A workforce that loves change, embraces new technologies and lacks the guile to participate in corporate politics has the potential to improve corporate life. 16 February 2008 talent management magazine www.TalentMgt.com http://www.TalentMgt.com

Table of Contents Feed for the Digital Edition of TM - February 2008

Talent Management - February 2008 Editor's Letter - Talkin' 'Bout My Generation Contents Human Performance - Achievement Motivation: Top Talent At Any Age Leading Edge - Who's On First? Foundations - Managing the Next Generation Workforce Viewpoint - Talent Strategies That Work Are Talent Strategies That Stick Those Who Have Left: The Value of Building Employee Relationships Alternatives to 360s: The Manager's Role Compensation and Benefits For X&Y Build A Multigenerational Performance Management Strategy Development's Role in Creating A Culture Of Inclusion Tomorrow's Leader: Identifying the Next Generation Integrating Talent Management Systems Strategically Seagate Uses Yearlong Evaluations to Help Integrate Talent Efforts Western Union: Connecting Strategy and People Globally Advertisers' Index Editorial Resources Full Potential - The Best Time to Change? Right Now!

TM - February 2008

For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.