Training Industry Magazine - Fall 2014 - (Page 13)

GENERATIONS @ WORK THE ANTIDOTE TO THE REVOLVING DOOR How many top performers have you lost this year? If this year's number is higher than last year's, you're not alone: as the economy continues to recover, turnover rates are increasing. Compared to other generations, millennials may be especially vulnerable to jumping ship. According to a recent Bentley University study, more than half of business leaders believe they're especially difficult to retain. At any level, turnover is costly (lost productivity, rehiring, onboarding, and training costs). But the sheer number of millennials in the workforce puts employers at risk of a "very expensive revolving door"-most companies report costs between $15,000 and $25,000 to replace each millennial employee. So why are millennials leaving? This is surely a multifaceted problem. However, an often-overlooked explanation may be the behavior of their managers. We know that the most common reason employees leave companies is their relationship with their boss. But millennials working for baby boomers or Gen 'Xers may have an even more difficult time because of age-based stereotypes. According to Chris Blauth and his colleagues, managers with age-based stereotypes "discriminate against, restrict, and dehumanize people because of their age." Unfortunately, millennials often bear the brunt of these stereotypes even though few differences have been empirically supported. Enter compassion. Research shows that compassion not only reduces the negative impact of stereotypes, compassionate managers do a better job retaining their employees. "OK, then - I'll just be more compassionate," you might conclude. Unfortunately, it's not always that easy for people in positions of power. WHY COMPASSION CAN BE DIFFICULT FOR MANAGERS Research by Adam Galinsky provides evidence that managers might have trouble empathizing with their junior employees simply by virtue of their place in the pecking order. Galinsky and his team asked participants to recall an experience when they had either high or low power to "prime" them to feel powerful or powerless. Then they asked participants to draw the letter "E" on their forehead while looking in the mirror. The powerful participants were three times more likely to draw the "E" so that they could read it in the mirror, even though it would look backward to everyone else. They completely ignored other people's perspective in favor of their own. They also made more errors in judging other people's emotions. T R A I N I N G I N DUSTR Y MA GAZ INE - FALL20 1 4 I WWW.TRAININ GINDU S T RY . C OM/ MAGAZ I NE - D R . TASH A E U R ICH MANAGER COMPASSION: THREE TIPS TO RECLAIMING YOUR COMPASSION 1. Take their perspective When making a decision, ask, "if I were someone who'd be impacted, what challenges would this create?" Ask your team how things are going and how you can help. 2. Be available If your junior employees view you as inaccessible, it's hard for them to connect with you. Get out of your office and talk to people. Seeing them in action instead of as numbers in a ledger will remind you of their humanity. 3. Put yourself in their shoes Whether you're a CEO or firstline leader, take a moment to remember when you were that junior employee. When you're frustrated with a member of your team, it can be helpful to remember what it felt like when you were in their shoes. Almost all leaders are capable of showing compassion to everyone on their team. When you do, your team will pay you back with commitment, loyalty and performance - no matter what generation they belong to. Dr. Tasha Eurich is an organizational psychologist, speaker and author of "Bankable Leadership." Email Tasha. 13 http://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2014summer/index.php?startid=13 http://www.mrinetwork.com/resources/article-archive/articles/how-well-do-you-know-your-employees/ http://onlinelibrary.wiley.com/doi/10.1002/ejsp.163/abstract http://www.envisialearning.com/system/resources/28/43-abstractFile.pdf?1269662216 http://www.forbes.com/sites/robasghar/2014/01/29/study-millennials-work-ethic-is-in-the-eye-of-the-beholder/ http://www.inc.com/suzanne-lucas/why-employee-turnover-is-so-costly.html http://www.millennialbranding.com/2013/08/cost-millennial-retention-study/ http://www.millennialbranding.com/2013/08/cost-millennial-retention-study/ http://r20.rs6.net/tn.jsp?e=001B61RCGNQJOJZptIisEHwtKjUDwc_hX-TJcB__rZ8pLe1Erywsa1jdJKsEE5TRklZXQYPvjG5LOVSJBJKbDbNEEgqLY9fL6UNKs3X7OO7ZstAHPzG2duD5zdprUbHSCPfqo-O7i9OQVEGBuPGfNA0HZmjyzK-E0YdGM346NqUiyPm-rSEJE-kiW8EPvhB4YKWP-xjjVJwSE9lu_W4QEY2HvOKEoHW3ijM%20wGAzXwpFhemNjuPQ1QCuXaI5IEA3aXz9os_PXayfnEcskOUd-U8BDnFrWicwbXHgiO32Qt2DJRKn3DitLiUmQPK9yDL6svz4 http://www.fastcompany.com/3024305/leadership-now/5-ways-to-measure-the-emotional-intelligence-of-your-boss http://www.fastcompany.com/3024305/leadership-now/5-ways-to-measure-the-emotional-intelligence-of-your-boss http://www.emeryroad.com/Project%20215.pdf http://www.trainingindustry.com

Table of Contents for the Digital Edition of Training Industry Magazine - Fall 2014

From Where I Sit
Table of Contents
Guest Editor: Improving Sales Onboarding Effectiveness
An Emerging View of Learning Content
Manager Compassion: The Antidote of the Revolving Door
Balance and Praxis
Giving Old Content New Life
Leveraging Custom Learning Initiatives
Contextual Anchoring in Learning Design
Training for Performance Improvement: A Carrot or A Stick?
Rewiring Your Learning
Working with Subject Matter Experts
What's Your ROI for Content Development?
Casebook: Manitoba Hydro: Powering Up with e-Learning
Design Considerations for Content Delivery
Improving Online Learning Performance
A Brain-based Approach to Developing Training Content
What's Online
Company News

Training Industry Magazine - Fall 2014

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