Need to Know...
Rebecca Hastings
I Help Software & Tech Firms Secure Game-Changing Talent ?? | Executive Search Expert ?? | Host, The Lucent Perspective Podcast ??
Welcome to the latest edition, where we explore the challenges and opportunities facing businesses in today's ever-changing landscape. In this issue, we delve into three key themes that have emerged from recent conversations and research: leading a multigenerational workforce, empowering female entrepreneurship, and building a scalable customer support team.
In this edition, find out more about
Leading a Multigenerational Workforce
There has been a lot of clickbait around generational tensions and needs in the workforce this year. So, Andrew Bardsley , my former Modulr colleague and?founder of JackHR and I decided to delve into the challenges and opportunities of building and managing a multigenerational workforce in the tech sector. Andrew and I shared valuable insights and actionable tips to help you create a thriving, age-diverse team.?
Fundamental needs of all generations?
Despite the differences in life experiences, mindsets, and expectations among generations, we highlighted three fundamental needs that are shared by all: freedom, clarity, and connection. As Andrew pointed out, these three pillars can serve as a foundation for building effective management conversations and practices that resonate with each generation.?
Freedom is a crucial need that manifests differently for each generation. For Baby Boomers and Generation X, freedom might mean having compressed hours to spend more time with their families. On the other hand, for younger generations like Millennials and Generation Z, freedom could be the ability to grow their careers in a way that works for them. Managers can adapt their approach by offering flexible work arrangements, such as remote work options or adjustable schedules, and providing opportunities for professional development and career growth that align with each individual's goals.???
Clarity is another essential need that varies in meaning across generations. For some, clarity might be understanding exactly what time the workday starts and ends, while for others, it could be having a clear understanding of policies around family leave. Regardless of the specific interpretation, everyone wants clarity in their work environment. Managers can meet this need by setting clear expectations, communicating transparently about company policies and procedures, and regularly checking in with team members to ensure they have the information and support they need to succeed.???
Connection is a fundamental human desire that has taken on new forms in the wake of the pandemic. Someone in Generation Z might believe they can build strong and effective relationships online, viewing virtual connections as equally valuable to in-person ones. Managers must recognize and adapt to these changing perspectives on connection by finding the right mechanisms to foster a sense of belonging and engagement for all team members. This could involve regular virtual team-building activities, creating opportunities for cross-generational mentorship, and encouraging open communication and feedback.???
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The importance of locus of control generational trends when hiring
The percentage of people with an external locus of control has consistently increased since the 1970s. This really matters for businesses as people who have an external locus of control are more likely to blame external factors for shortcomings, have a victim mentality, and may struggle to take the initiative.??
Identifying internally motivated candidates by framing interview questions around specific challenges they've faced and how they overcame them is a skill you want to embed across your business. Get in touch if you’d like to learn more about how you do this.??
Here is a snippet where I give an example of locus of control and how this can impact businesses.?
Do you have a generational problem? Here are some red flags to watch out for.
There are a few that we highlighted, but something people are talking with us about is decreased employee turnover, yet limited or negative uplift in productivity, indicating disengaged employees staying in jobs they dislike. Top red flags are:?
?? Hiring people at a salary level that means they can't afford to live in the city where the job is located?
?? Decreasing turnover accompanied by decreasing productivity.?
?? Having only one generation represented in a team.???
?? Negative feedback on platforms like Glassdoor that mention a lack of freedom, clarity, or connection in the workplace.???
Access a recording of the full LinkedIn Live on YouTube here for all our insights.
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Female Entrepreneurship and The Gender Index?
?In January, I spoke with John Cushing , CEO of mnAi and steering group member of The Gender Index , about his mission to promote female empowerment and entrepreneurship through data analytics.??
Recognizing the lack of data on female-led businesses in the UK, John and his team developed a ground-breaking tool that leverages algorithms to identify and track female leaders and founders. Interestingly, he is also tracking generational differences, so this is perhaps a conversation to revisit in future.??
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In our discussion, John shared:?
???? How the Gender Index is enabling targeted support for female entrepreneurs?
??? Examples of organizations using demographic data to shape all-female cohorts and empower women in business??
?? The importance of advocating for equal access to entrepreneurship ?
?? The positive impact of teaching entrepreneurship skills to young girls and women??
?? The need for targeted support and funding for female founders to level the playing field?
Check out The Gender Index here . Their detailed report gives an overview of the UK’s narrative and breaks this down by region and is an excellent resource for female founders, policymakers and investors in particular. ?
Communities: A Scalable Way to Save Millions in Support Costs?
Scaling customer support functions has been discussed several times over the last month. In a previous podcast episode, Kate McMillan , Head of Service Technology at Fortinet, discussed her experience building a thriving online customer community that has saved a significant amount of money. With the current economic climate pushing companies to reduce expenses while adding more value to customers, Kate's insights are particularly timely and valuable.?
Kate spearheaded the development of Fortinet's community platform, which now boasts over 25 million annual visitors and has led to a 75% increase in published knowledge base articles. By enabling customers to self-serve and find answers quickly, the community has significantly reduced the burden on Fortinet's support team.??
In our discussion, Kate shared:?
?? The importance of understanding customer needs and pain points?
???? Best practices for structuring and launching a customer community??
?? Metrics to track community success and cost savings??
?? Strategies for fostering engagement and encouraging user contributions??
?? The role of AI and future trends in online customer communities?
Check out the full podcast on Spotify, iTunes, or other major podcast platforms. Here's a snippet where Kate discusses the scalability and cost-effectiveness of community-driven support:?
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Founders Selling and ElevateHer Course
I was incredibly lucky to attend a sales course for female entrepreneurs this month. Organised by Dr Yekemi Otaru and Sarah Downs (F.FISP) of Doqaru Limited , the training was incredibly useful and lots of fun. Twenty-four female entrepreneurs were awarded places in this programme funded by the Scottish Ecosystem Fund, which culminated in two days of learning in Aberdeen.
Many business owners don't invest in their sales skills, especially in tech, if they are the technical founders. I especially enjoyed learning more about approaching tougher questions and holding productive sales conversations. Get in touch with Sarah and Yekemi if you're looking to brush up on your skills or your sales team's performance.
?? Get in touch if you'd like help finding the leadership, sales and tech talent for growth.??
??? Check out our podcast on Spotify or Apple Podcasts .??
?? Connect with me on LinkedIn ??
?? Comment below if you have any questions ???
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Experienced Brand and Marketing Professional | Entrepreneur | Investor | Advisor
7 个月Locus of control stuff is really interesting.