Succession Planning, Part 2 – 5 Key Strategies

This is Part 2 of a series on effective succession planning. Part 1 focused on The 3 Main Tenets of Succession Planning. This post provides 5 key strategies for successful execution.

Succession planning is a dynamic process that takes place through a series of robust conversations about the future, which in turn develop the best organizational capacity to meet key business objectives. Companies need smart people involved who understand the goals of the business and are able to have productive, strategic dialog about the talent pipeline, and are able to execute on key decisions. Here are 5 key strategies will help to ensure a successful outcome:

1. Align succession planning with strategic planning - Companies must include talent planning in their strategic planning practices to survive and thrive in the 21st century.
2. Ensure senior leadership participation and training - HR should play a facilitative role in succession planning, but the real responsibility for managing the talent pipeline falls on senior management.
3. Consult with potential successors - Validate assumptions about the ambitions and expectations of employees, especially those from younger generations, to deter false senses of security about the future.
4. Break down organizational silos - Work to create company-wide teams and rewards, because it is too difficult to provide real development opportunities for employees when silos exist and managers hoard their star performers.
5. Update plans regularly - Incorporate regular reviews of succession plans into strategic planning and management meetings to ensure ongoing relevancy with future talent needs.

A company's success and legacy across future generations depend upon new approaches to succession planning. My whitepaper, The 3 Main Tenets of Effective Succession Planning, addresses this topic in depth. Feel free to download it or contact me directly for more insight and guidance.

Amy Hirsh Robinson, Principal, Interchange Group

Workforce Strategies for the New Economy

Succession Planning, Part 1 – The 3 Main Tenets

75% of executives view succession planning as the top human capital challenge that could derail their company’s attainment of key strategic business objectives. Yet demographic shifts, globalization, emerging communication technologies and rising economic uncertainty have changed the playing field and altered what is required of 21st century leaders.  Existing succession planning models have not kept up.

The 3 Main Tenets of Effective Succession Planning

Companies with succession planning systems in place are set up to fail by complex processes. To ensure the ongoing success of the business and its legacy across future generations, organizations must adhere to these three main tenets of succession planning.

1. Succession planning should be a program focused on keeping talent in the pipeline. It is an ongoing process of preparation, not a one-time process of pre-selection.
2. Succession planning should be uncomplicated. The more complex it is, the less likely it will succeed.
3. Succession planning should extend beyond the top executive level to all tiers of the organization that play a pivotal role in the success of the business.

Part 2 of this series will focus on the 5 Key Strategies for Effective Succession Planning. To learn more now about the critical requirements and pitfalls of succession planning, watch, Building the Talent Pipeline to the 21st Century, or download any of existing succession planning white papers and resources directly from my website. 

Amy Hirsh Robinson, Principal, Interchange Group

Workforce Strategies for the New Economy

Gen X Bosses vs. Millennial Employees - Part 2

This is part 2 of a series on the contentious dynamic between Generation X bosses and Millennial direct reports. Part 1  focused on the Millennial generation and provided Gen X bosses with strategies to manage their Millennial employees. This post focuses on the Gen X experience and provides Millennials with tactics for managing their Gen X bosses.

Here are some strategies for Millennials to manage their Gen X Bosses more effectively:

Demonstrate Initiative:  Gen Xers were "latchkey kids" used to doing things on their own without supervision.  They expect the same of their direct reports. 

• Show your boss that you can solve problems with minimal guidance
• If you complete an assignment, ask for additional work to provide value
• Accept that sometimes you have to work late to complete projects

Follow Up:  Growing up, Gen Xers became risk-averse from the constant uncertainty of the energy crisis, the Cold War and AIDS. To mitigate threats at work, Gen Xers need to know that deadlines are being met. 

• Provide your boss with progress reports at regular intervals
• If you make a request and don't hear back, follow up to keep the project on deadline
• Let your boss know immediately if you won’t meet a deadline and what you plan to do about it

Mind Their Time: Gen X managers balance competing demands to meet business goals. Under constant pressure to "do more with less" they often don't have time for daily coaching to their direct reports. 

• Consolidate questions to email or scheduled meetings instead of interrupting your boss multiple times a day
• Be patient if your boss hasn't responded quickly to your email
• Avoid phone/tablet use during meetings with your boss to show active listening

My whitepaper, Gen X Bosses vs. Millennial Workers – The Contentious Divide, addresses this topic in depth and provides targeted solutions for Gen X bosses and Millennial employees for improving performance and retention. Feel free to download it or contact me directly for more insight and guidance.

Amy Hirsh Robinson, Principal, Interchange Group

Workforce Strategies for the New Economy

Gen X Bosses vs. Millennial Employees - Part 1

A lively panel, "Millennials Speak Out: How to Manage the Gen X Boss," at last month's SXSW conference exposed the antagonistic attitudes between Gen X bosses and their Millennial direct reports. At the heart of this conflict are two distinct sets of generational values, motivations and behaviors that have become contentious, critical obstacles to performance and retention.

Here are some strategies for Gen X bosses to manage their Millennial employees more effectively:

Stay Connected:  Connected to parents and peers through close personal relationships and social media, Millennials are successful when they have an ongoing support and feedback system at work. 

• Connect frequently with Millennials using 2-minute debriefs or email/IM check-ins to answer questions and provide feedback.
• Mentor Millennials to offer guidance and reinforce company culture and norms.
• Take time to recognize Millennials by name on a daily basis.

Make it Meaningful:  Millennials want work to benefit society. They are more likely to perform (and less likely to quit!) if they feel their work has meaning and is connected to a bigger picture. 

• Explain the “why” behind your decisions - Don’t wait for them to ask!
• Acknowledge Millennials’ work and its significance to the overall project/company. 
• Provide (and participate in!) social activities to foster community.

Enable Teamwork: Millennials are peer oriented and likely to feel isolated and disengaged from their work when they can’t collaborate with their boss. 

• Promote cross-functional teamwork and communication to complete assignments.
• Include Millennials in brainstorming and goal setting sessions for their projects.
• Provide technology to connect Millennials to their network and information.

Part 2 of this series will focus on providing strategies for Millennial employees to manage their Gen X bosses more effectively.  Stay tuned!

My whitepaper, Gen X Bosses vs. Millennial Workers – The Contentious Divide, addresses this topic in depth and provides targeted solutions for Gen X bosses and Millennial employees for improving performance and retention. Feel free to download it or contact me directly for more insight and guidance.

Amy Hirsh Robinson, Principal, Interchange Group

Workforce Strategies for the New Economy

Should You Ditch Your Performance Reviews?

Last year Adobe Systems abolished performance reviews, citing employee complaints about the existing appraisal process coupled with the company's need to retool its talent management practices to compete in the digital marketing space. The announcement reflects a growing sentiment among human capital experts that formal reviews do little to provide the type of feedback that employees need. And let's face it, most managers loathe the process.

I'm in favor of ditching the type of performance reviews that are used in over 95% of the companies I've observed. They are outdated tools for the New Economy, and in most cases the amount of organizational time, energy and money spent each year on the process far outweighs the purported benefits.

Other options exist for providing employees with effective feedback, development and rewards. I've written about these options in my new whitepaper, "Working Without Performance Reviews - An Alternative Approach." Feel free to download it or contact me for additional insight and expertise.

Amy Hirsh Robinson, Principal, Interchange Group

Workforce Strategies for the New Economy

New Hire Onboarding - Practical Advice for Boosting Performance & Retention

It's Day One. Do you know where your new employee is?

You work so hard to make a favorable impression on job candidates. But what happens when they show up for work? How are you handling the employee's first hour, first day, first week and first months on the job?

The truth is, most employers devote less time to planning their onboarding procedures than they do their holiday party ... a mistake that costs companies greatly in bottom line and reputation.

A "sink or swim" onboarding process doesn't work, especially for younger generations who place a high value on structured employment procedures. What's more, research shows that employees who are part of a structured onboarding program are 69% more likely to remain with the company after three years than those who are not. 

Every organization has a new hire onboarding process, whether it's managed or not. What impact do your actions have on productivity and retention? Isn't it time you found out? 

For additional insight and strategies on this topic, register for my February 19 webcast, New Hire Onboarding: Practical Advice to Boost Performance & Retention, hosted by Business Management Daily.

Amy Hirsh Robinson, Principal, Interchange Group

Workforce Strategies for the New Economy

Helping Students Complete College with Manageable Debt

In the United States, the student debt of the Millennial generation is at an all-time high and university dropouts are on the rise. If this trend continues the demand for college educated, skilled workers will outpace the supply dramatically. 

This is why the Interchange Group supports Scholarship America, a non-profit whose mission is to make postsecondary education success possible for all students. Scholarship America is the country's largest provider of private scholarships, awarding more than $2.9 billion to 1.9 million students and spending 97% of its total budget on programs. 

As a holiday gift to our clients and community, the Interchange Group is donating funds to Scholarship America. Our wish for 2013 is to help students complete their education beyond high school with manageable debt so that our communities will prosper and our economy will strengthen. 

Happy New Year!

Amy Hirsh Robinson, Principal, Interchange Group

Workforce Strategies for the New Economy

The Impact of Social Media in the Workplace

Social Media offers a powerful and pervasive communications platform that is radically changing the way we interact. Already widespread in many aspects of daily life, social media will significantly impact the way we communicate, organize work and manage talent in organizations. As the Millennial generation (born ca. 1980-2000) gains critical mass in companies and assumes positions of management and influence, social media will take on an even more central role in the workplace.  

Numerous leading-edge businesses are working to integrate social media into their decision-making, communication, knowledge management, recruitment, and talent management practices. When considering the application of social media in enterprise-wide and Human Resources systems, there is no one-size-fits-all approach or solution. Every organization is unique in its business needs, culture and readiness to adapt new technologies and rituals. 

I have developed a useful framework for leaders to help them evaluate social media's impact and role within organizations and the challenges and opportunities it brings. Feel free to download a copy of this framework, "The Impact of Social Media in the Workplace - 7 Key Trends," or contact me for additional insight and questions.

Amy Hirsh Robinson, Principal, Interchange Group

Workforce Strategies for the New Economy

Generational Engagement Drivers, Part 3 of 3 – Millennials

After years of doing more work with fewer resources and rewards, a record number of employees are disengaged from their jobs. Companies are now implementing strategies to improve engagement, but most neglect to take generational differences into account. This costly mistake contributes to increased employee attrition and revenue loss. 

I have provided a three-part series that outlines the core engagement drivers specific to each generation. The first in the series offered strategies for engaging Baby Boomers. The second provided strategies for engaging Generation X. This last one covers the Millennial Generation. 

Millennials (born ca. 1982-2000) experienced educational and parental systems rich in praise. They are accustomed to and expect frequent encouragement and acknowledgement. Having grown up in a 24/7 world of global events and communication, they are motivated to solve large-scale problems and see blurred boundaries between work and the rest of their lives. 

To improve engagement in this generation, focus on strengthening Millennial attitudes toward:

• Feedback & Growth – Do they perceive their supervisors as mentors who actively support and guide them in their careers?
• Meaningful Brands & Work – Are they enthusiastic about their employer's impact on the world and the opportunities available to solve "real" problems?
• Flexible Work – Does their work arrangement allow them to manage their professional and personal obligations fluidly?

For additional insight and strategies on this topic, register for my free September 19 webcast, Keeping High Potentials Engaged, hosted by the Human Capital Institute.

Amy Hirsh Robinson, Principal, Interchange Group

Workforce Strategies for the New Economy

Generational Engagement Drivers, Part 2 of 3 – Generation X

In response to record low levels of employee engagement, I am providing a three-part series to outline specific employee experiences, or "drivers," for each generation that have a significant impact on engagement. The first in the series offered concrete strategies for engaging Baby Boomers at work. This second one covers Generation X. 

Generation X (born ca. 1963-1981) grew up during a time when life seemed to be falling apart. As children, they watched the events of the energy crisis, Watergate, corporate downsizing, and AIDS unfold in front of them. These were the "latchkey kids" of divorced, dual-income, late-working parents. As a result, Gen Xers value security, mobility (which they see as a means to security) and work/life balance. 

To improve engagement in this generation, focus on Gen X's outlook toward:

• Professional Development - Do they believe there are real opportunities to advance within the company or increase their transferable skills?

• Job Security & Autonomy - Does their employment situation feel secure and within their own control?

• Work/Life Balance - Do they feel alignment between their professional and personal lives?

Part three of this series will provide engagement drivers for the Millennial Generation. For additional insight and strategies on this topic, register for my free September 19 webcast, Keeping High Potentials Engaged, hosted by the Human Capital Institute.

Amy Hirsh Robinson, Principal, Interchange Group

Workforce Strategies for the New Economy

Generational Engagement Drivers, Part 1 of 3 - Baby Boomers

Most companies manage employee engagement without differentiating between the intrinsic motivations and values of each generation. This is a costly mistake that diminishes an employer's value proposition, and actively contributes to employee attrition and revenue loss. 

Engagement levels are at record lows. Companies seeking to improve their scores focus on certain employee experiences, or "drivers," that have a significant impact on engagement.  This three-part series will provide specific engagement drivers to use for each generation at work. 

We'll start first with the Baby Boomers.

Baby Boomers have always worked and played hard, often competing with their numerous peers to get ahead and display outward symbols of success. Their values center on professional identity and prestige while staying youthful and healthy. 

The way to increase Boomer engagement is to implement strategies and tactics that will improve their:

• Core Career Identity – Do they love what they do and feel deeply connected to their job?
• Professional Status – Do they feel externally validated and rewarded for their efforts?
• Physical & Mental Health – Are they optimistic about their own well-being?

Part two this series will provide engagement drivers for Generation X. For additional insight and strategies on this topic, register for my free September 19 webcast, Keeping High Potentials Engaged, hosted by the Human Capital Institute.

Amy Hirsh Robinson, Principal, Interchange Group

Workforce Strategies for the New Economy

Is Gen X the Forgotten Middle Child of the Workplace?

Last month the Wall Street Journal reported that the student loan delinquency rate in the U.S. is now highest for those in their 40's, that is, for members of Generation X. When speaking of economic status, however, most media coverage focuses on Millennial student debt and Baby Boomer unemployment.

Are we ignoring the plight of Generation X by focusing all our worries on the Millennials and Baby Boomers?

When it comes to the workplace, the answer is yes. Gen Xers feel stuck between Baby Boomers, who won't retire, and Millennials, who are perceived (falsely, most Gen Xers argue) as cheaper and more digitally savvy. Generation X is the forgotten middle child at work and increasingly disengaged as a result.

The irony is that Gen Xers are a critical component of most companies' succession plans. When those 80 million Baby Boomers do exit their roles, organizations expect a mere 46 million Gen Xers to fill their shoes.  Ignoring or marginalizing the development needs and engagement levels of Generation X is financially and strategically foolish.

My whitepaper, 5 Strategies for Engaging Generation X, addresses this topic in depth and provides targeted solutions for companies execute. Feel free to download it. Additionally, you can attend my September 19 webcast, Keeping High Potentials Engaged, hosted by the Human Capital Institute.

Amy Hirsh Robinson, Principal, Interchange Group

Workforce Strategies for the New Economy

The Cost of Bad Onboarding

This summer I spoke to over 500 attendees of the Society for Human Resource Management conference on New Hire Onboarding. One of the key points of my talk was the ongoing financial benefit of integrating new hires into companies well vs. the immediate and long-term costs of doing it poorly.

It's critical to understand that all employers have new hire onboarding, whether they manage it or not. Research shows that organizations with structured onboarding programs enjoy a 60% year-over-year improvement in revenue per full-time employee and a 63% year-over-year improvement in customer satisfaction.¹

• Increased turnover
• Diminished productivity
• Reduced employee engagement
• Loss of respect for the management and company
• Degradation of the company brand

To what extent does your onboarding process fit the needs and expectations of your top talent? To what extend does it detract or contribute to your company’s bottom line?

For additional insight and strategies on this topic, download my new white paper, “New Hire Onboarding: Guidelines for Boosting Employee Performance & Retention.” Please feel free to download any other whitepapers of interest directly from my site.

Amy Hirsh Robinson, Principal, Interchange Group

Workforce Strategies for the New Economy


¹Source: The Aberdeen Group, “Onboarding: The First Line of Engagement,” February 2010. 

A Guide for Managing Millennials - Decision Making

This is the last of a 3-part series of guides for managers who are struggling with the performance and engagement levels of their Millennial employees. The first two provided concrete tips for Delegation and Performance Feedback. This last one addresses Decision Making.  

My recent blog post on Helicopter Parents in the Workplace raised alarms (primarily from Generation Xers) that a "reported 20-40% of Millennials' parents have called HR to obtain employment information, schedule job interviews and debate questionable performance reviews on behalf of their grown children." The concern is that it bespeaks a generation of teens and 20-somethings that does not make independent decisions. 

It's true. Millennials do not typically make decisions on their own. Given the choice, they will share their ideas through their social networks (which include their parents!), letting the group find the best answer through their combined experiences. In other words, the preferred decision making style among Millennials is crowdsourcing, a "distributed problem-solving model" in which "large numbers of solutions or information" can be gathered by "broadcasting problems" to a diverse group of "solvers."¹

Crowdsourcing as a legitimate decision-making method in the workplace conflicts with the autocratic style of the Traditionalist generation, the consensus mode of the Baby Boomers and the independent decision making style of Generation X. But Millennials will make up 1/3 of the workforce by 2014, and their collaborative approach to work will become accepted protocol in the near future. Managers of this generation will get the best results if they seek concrete ways of integrating Millennial decision-making into daily work. They will also position their companies for future success in the process.

Amy Hirsh Robinson, Principal, Interchange Group

Workforce Strategies for the New Economy


¹Source: http://en.wikipedia.org/wiki/Crowdsourcing

A Guide for Managing Millennials - Performance Feedback

In response to recent requests, I am providing a 3-part series of tactical guides for Generation Xers and Baby Boomers who manage Millennials and whose companies are dependent on Millennial employees for their future success and market share. The first in the series offered concrete tips for Delegating to Millennials. This one covers Performance Feedback. The last in the series will address Decision Making.

So how do you give effective performance feedback to Millennials?

Growing up, Millennials experienced educational and parental systems rich in praise and limited in critical feedback. To stay motivated in the workplace, they need frequent encouragement and acknowledgement. In contrast to the direct, results-focused feedback preferred by Generation X, Millennials respond most effectively to performance comments if you do the following:

• Acknowledge them for their work and significance to the overall project and company
• Assume a coaching role when providing critical feedback by directing them to behavior or tasks that will best position them for success in the company
• Align performance remarks with their career goals - If you don't know what their career goals are, ask!
• Be transparent about the company's promotional track and what specific skills and experiences will help them reach the next level
• Create opportunities for short, daily feedback sessions in person or via text message to outline expectations and provide ongoing support and encouragement

Even as adults, Millennials continue to be coached by highly involved parents encouraging them to set and achieve goals. They look to their managers to play similar roles. These guidelines will motivate your top Millennial talent and correct the behavior of your poor performers. If you are still struggling reach out for help.

Amy Hirsh Robinson, Principal, Interchange Group

Workforce Strategies for the New Economy

A Guide for Managing Millennials - Delegation

My last blog post on Helicopter Parents in the Workplace ignited a firestorm of feedback about the Millennial generation and the difficulty of recruiting and managing this demographic. If your company depends on Millennials for its future success in maintaining and increasing market share, then you may need concrete tactics for managing and communicating with them.

This next series of posts will focus on providing those tactics to support you in your goals and to ease management's pain. It will cover Delegation (here), Performance Feedback, and Decision Making.

We'll start first with tips for delegating effectively to Millennials.

A common complaint of managers is that Millennials do not follow through on projects assigned or do not complete tasks to satisfaction. When delegating to Millennials follow these rules:

• Connect the dots between task and mission by explaining the importance of the project to the organization
• Define the job enrichment opportunities involved in the project 
• Be specific in the results you expect and provide step-by-step instructions for achieving these results 
• Communicate your expected timeframe for completing the project and consequences to not getting it done on time
• Mentor on potential roadblocks and how to get around them  
• Build in frequent check-ins via 10-minute meetings or text messages to reinforce expectations and answer questions as they arise

These tips may seem like extra work to the Generation X and Baby Boomer bosses of Millennials, but I guarantee their success in increasing productivity and eliminating "re-do's" on the back end. Give it a try, and if you are still struggling reach out for help.

Amy Hirsh Robinson, Principal, Interchange Group

Workforce Strategies for the New Economy

Embrace Your Helicopter Parents

Recent press on Helicopter parenting in the workplace has revived a collective sense of dismay over the Millennial generation. Helicopter parents are Baby Boomer moms and dads who exhibit an excessive degree of parental involvement, "hovering" over their 20-something kids. Universities responded first to this phenomenon by establishing Offices of Parent Relations and separate orientation programs for parents of incoming students. Now that Millennials have entered the workforce, a reported 20-40% of their parents are calling HR to obtain employment information, send resumes, schedule job interviews, negotiate salaries and debate questionable performance reviews on behalf of their grown children.

Employers and managers of Millennials are flabbergasted by what they view as the intrusive conduct of Helicopter parents. They attempt to deter the behavior, which only causes resentment from both Millennial employees and their parents. Employers should instead focus on strengthening relationships with parents to increase acceptance and retention rates of top young talent and improve their employer brand. Here are some specific tactics to that end:

• Co-market employment opportunities to Millennials and their parents (the U.S. Military has a great example of this strategy at www.todaysmilitary.com)
• Offer to send employment packages to parents of interns and accepted applicants
• Invite parents of new hires to the office and provide parent tours of the company
• Train managers and HR staff on how to handle parent interference productively
• Publish parent newsletters or allow parents to opt into company newsletters to stay informed
  

If your company's success is dependent on a Millennial workforce you must build parental involvement into your recruitment, management and retention practices. Older generations may balk but I'm a realist. My clients compete daily to attract, retain and manage top Millennial talent. Their business models and strategies depend on it. Do yours?

Amy Hirsh Robinson, Principal, Interchange Group
Workforce Strategies for the New Economy

The Rocky Transition from Intern to Full-Time Hire

To compete in the “New Economy,” companies are seeking employees with an aptitude for technology and innovation. Many, believing that the Millennial generation has these core competencies, have beefed up their college intern programs as a way to fill the talent pipeline. Such programs are successful in developing and motivating Millennials. The problem, however, is in the transition to full-time hire. Specifically, the experience new graduates receive as interns contrasts sharply with what they experience as full-time employees. For example:

• Interns are urged to meet new people and explore the company, while full-time hires are discouraged from actively networking
• Interns receive messages such as “our doors are always open,” while full-time hires hear “know your place”
• Interns enjoy explicit career-pathing guidance, while full-time hires receive little or no career development
• Interns work for managers invested in their experience, while full-time hires report to whomever has headcount, regardless of that manager’s “people skills”
  

Companies that do not invest in a seamless transition from intern to full-time hire will experience high attrition, damage their reputation as a desirable place to work, and lose competitive advantage. What does the transition from intern to full-time hire in your organization look like?

For additional insight and strategies on this topic, feel free to download my white paper, “The Rocky Transition from Intern to Full-Time Hire.”

Amy Hirsh Robinson, Principal, Interchange Group
Workforce Strategies for the New Economy

Tell Your Story In 2012

As the New Year approaches, consider the stories you would like to share in 2012.

Stories entertain us, but they also act as a vehicle for passing memories, values and rituals on from one generation to the next. That's why the Interchange Group supports StoryCorps, one of the largest oral history projects of its kind. Since 2003, StoryCorps has recorded and archived over 35,000 interviews of Americans of all ages and backgrounds. Each conversation is preserved at the Library of Congress and available to enjoy on StoryCorps' Listening Page. Interviews are also featured every Friday on NPR's Morning Edition.

As a gift to our clients and community, the Interchange Group is donating to StoryCorps this year. I invite you to listen to some of the interviews, organized by categories such as work, romance, friendship, September 11 and Hurricane Katrina. And, if you'd like to conduct your own interview, StoryCorps will help you do that. Their Great Questions List is wonderful for getting a good conversation started.

Happy New Year!

Amy Hirsh Robinson, Principal, Interchange Group

Workforce Strategies for the New Economy

Millennials & Work Location

There are many myths about Millennials and urbanization: Their attraction to cities for the “hip” factor; Their preference for mass transportation as a commitment to being green. But the majority of Millennials actually live in suburban environments. In fact, 43% describe suburbs as the “ideal place to live,” compared to 36% of Generation Xers and 28% of Baby Boomers.¹ As Millennials transition into their 30s, their preference for low density, non urban living is predicted to increase even more. Here’s why:

• Affordable Housing - 64% of Millennials say it’s very important to own their own home, and suburban homes generally costs less than their urban counterparts.²
• Job Opportunities - Suburban regions with low unemployment currently boast high percentages of recent college graduates in the U.S.³
• Family & Community - Millennials, many of whom are about to start families, want to raise children in the same suburban settings of their own youth.⁴

Millennial migration is significant to companies’ strategic planning. Attracting and retaining this large demographic of future workers impacts not only talent strategy, but also planning in corporate development, real estate and facilities management. Housing, telecommuting, and mass transit patterns also play a role.

By 2014, the bureau of labor reports that Millennials will make up 1/3 of America’s labor market. How and where organizations find young talent in the future will become important drivers of competition. Have you entered these factors into your planning?

Amy Hirsh Robinson, Principal, Interchange Group
Workforce Strategies for the New Economy

¹Winograd, Morley and Michael Hais. Millennial Momentum. New Brunswick: Rutgers University Press, 2011. Print.
²Winograd, Morley and Michael Hais. “Are Millennials the Solution to the Nation’s Housing Crisis?” NewGeography.com. Web. 17 July 2011.
³Kotkin, Joel. “America’s Biggest Brain Magnets.” NewGeography.com. Web. 10 February 2011.
⁴Winograd, Morley and Michael Hais. “Are Millennials the Solution to the Nation’s Housing Crisis?” NewGeography.com. Web. 17 July 2011.