Taking the Fork in the Road

My favorite deep thinker, Yogi Berra, once said: “When you come to a fork in the road, take it.”

And so I will.

After 28 years in the Army and more than 20 in leadership at USAA, I finally will see what retirement has in store. February 28th is my last day as president and CEO of USAA.

I am just the latest baby boomer to march off the field. In fact, every single day for the next 15 years or so, 10,000 boomers will retire. At USAA, employees choosing to retire in the next five years will take with them an average tenure of 20 years and 40,000 collective years of experience.

A few months ago in this electronic space, I outlined how employers can best preserve the institutional knowledge and wisdom of older workers. But smart companies also are planning for and adjusting their workplaces for the employees who will be taking their place. By 2020, millennials will account for nearly half of the country’s workforce. How do employers attract, engage and retain this 80-million-strong contingent of workers?

While the differences between generations tend to narrow as people grow older, a variety of studies show that boomers and millennials tend to have different work styles and are motivated by different things.

Our research team carefully sifted through some 40 external studies and concluded that the generational transition in the American workplace is shifting emphasis to three key employee priorities:

• Flexibility in work, time and space Employees want flexibility in when, where and how they get their work done. Working from home and flexible scheduling are just some of the approaches employers are taking to accommodate employees.
• Continuous development and recognition Newer generations of workers tend to be energized by new experiences and pushing beyond their comfort zones in addition to growth within a single discipline. Opening possibilities for cross-functional work or lateral moves within the organization can be helpful, as is giving them better access to feedback and coaching opportunities.
• Purpose alignment More and more employees want to be part of companies that share their values, are good corporate citizens and give them a sense of purpose. A Pew Research study a few years ago found that 57 percent of millennials had volunteered in the past year – more than any other generation. They also think that social consciousness should not be separate from the workforce, but part of it. So more companies are organizing volunteer opportunities and beefing up their corporate responsibility efforts.

Of course, these are all generalizations. Nobody fits neatly into any one box, no matter when they were born. Most every soldier and employee I’ve ever worked with will thrive if you clearly set out the mission, make sure they understand their role in the mission and look out for their interests.

In fact, if I’ve had a guiding principle in my career, it is this: Take care of your people, and they will take of your customers.

I hope I’ve fulfilled that leadership mandate. I know that I have tried. And now, I’m taking the fork with a full heart and firm belief that the best is yet to come.