Sales Simplified, Leadership Simplified Bootcamps for Everyone!

Newsletters

Being a Transformational Organization

Volume: August 2024

At a recent leadership conference, I had the honor of delivering a keynote on the ever-evolving workforce and how to lead transformational organizations in today’s gig-shifting economy. If this topic resonates with you, here are some takeaways to help you navigate a changing workforce.

Understanding the Gig Economy
The “gig economy” is a labor market characterized by the prevalence of short-term, freelance work engagements often facilitated through online platforms or apps. In this type of economy, individuals perform tasks, projects, or assignments on a flexible basis, usually for multiple employers or clients.

Today’s workforce is evolving faster than ever, and leading younger workers in today’s gig economy require a fresh approach. A full understanding of the gig economy is imperative to successfully navigating the evolving marketplace. Consider this, according to the U.S Bureau of Labor Statistics, as of 2022 the U.S. workforce consists of 164 million people, with 36% identifying as independent workers. The percentage of independent workers has increased by 27% since 2016, showing a significant shift towards freelance and gig work.

A 2023 United States Chamber of Commerce study projected that by 2028, the number of U.S. contract employees is expected to grow to more than 90 million, making up approximately 50% of the workforce.

Attracting Talented Young Workers
With this shifting employment landscape in process, the question now becomes “How do we attract talented young workers into our firms, companies, and organizations?” Here are some strategies to consider:

High-Tech Interfaces: Based on surveys and interviews I have conducted, young professionals are drawn to organizations with cutting-edge technology. Ensure your systems are up-to-date and user-friendly.
Web-Based Platforms: Flexibility is the key here. Make sure your interfaces are web-based and accessible from anywhere.
Engaging and Easy Onboarding: Keep the onboarding process light, straightforward, and maybe even a little fun. Young professionals dread a boring, cumbersome first day!
Minimum Contact with People: This might sound counterintuitive, but the younger generation prefers digital communication over face-to-face interactions. At least initially. Make it easy for younger professionals to get information without navigating complex human hierarchies.

Retaining Young Workers
Attracting talent is just the beginning. Retaining young, high-potentials is where the real challenge lies. Here are a few of my favorite retention approaches to positioning your organization for success:

Tech-Savvy Environment: Create a technologically advanced workplaces with the latest tools and software. Keeping up with tech trends shows that you’re forward-thinking. In fact, younger workers will expect this type of environment and will leave if things appear to old school.
Flexible Work Options: Offer remote work or flex hours to accommodate their work-life balance. The younger generation values flexibility immensely and expects a hybrid workplace.
Career Development and Growth: Emphasize opportunities for learning and career advancement. They want to see a future with a learning-organization.
Transparent Communication: Maintain open communication channels and regular updates. Everyone appreciates honesty and clarity.
Strong Organizational Culture: (LINK to July 2024 newsletter) Showcase your organization’s mission, vision and values. Younger workers want to feel that their work has a purpose beyond just a paycheck.

Leading a Diverse Workforce
Leading a workforce that spans multiple generations and perspectives can be challenging but incredibly rewarding. Here’s how to excel:

Leverage Paraphrasing in an Authentic Manner: It’s the great equalizer. Ensure that everyone feels heard and understood. When used elegantly and authentically, paraphrasing lets younger workers know that they have been heard and that you get it.
Understand Generational Perspectives: Recognize the different motivations and work styles of each generation.
Master Different Leadership Styles: Adapt your leadership style to suit the situation and the individuals involved. This flexibility can boost morale and performance.
Be a Coach and Developer: Focus on nurturing talent and helping your team grow. Your role is not just to manage but to develop.
Share Meaningful Feedback: Give feedback that is actually useful. Generic praise or criticism will not cut it. Be specific and share feedback that helps your people grow.

The Bottom Line
To succeed in today’s ever-changing marketplace, it is crucial for leaders and organizations to keep up-to-date on data and trends. Stand firm on your organization’s culture while customizing your approach to engaging with younger employees. Continually elevate your leadership skills and abilities. Remember, you are strong and a life-long learner. You have the tools and acumen to help your organization thrive in the evolving employee landscape.

Until next time, be well!

Doug Van Dyke is an executive coach, leadership development expert, teambuilder, and strategic planner. To learn more or have Doug speak at your event contact .(JavaScript must be enabled to view this email address).

Enjoy this post? Share it with others.