Yesterday I posted an article on LinkedIn that talked about how “almost two in four members of Gen Z and Millennials would prefer being unemployed than work in a job they don’t like. This is a sobering statistic for anyone looking for their next employee.”
So, I thought I would follow that up by asking “what can you do to make sure that the next generation of workers choose your organisation and not your competitors?”
It’s not quite as easy as you would think as it’s a demanding list that Gen Z and Millennials want before committing to you and your organisation.
Here’s just some of them:
- they preferred to work at companies that shared their personal values
- they’d take a lower-paying salary if it meant they were purposefully contributing to society
- they wouldn’t work for a company that didn’t make diversity a priority
- they would quit a job if it interfered with their personal lives
This means that businesses need to rethink their approach to attracting and retaining staff or face serious competition.
But what about the people that already work for you, are they less important? NO, they can be just as, if not more important.
The reason being, if you give them the opportunity to show you what they can achieve for your company you will be rewarded with not just a loyal employee but someone who really does love their job and wants to actively contribute to the long-term innovation and growth of the business.
A major problem can be the strategies, structures, policies, procedures and culture of the core business, because more often than not they are the opposite of what is required to build a new business. This leads to conflict in most cases.
Organisations know a lot about what it takes to maintain and grow their core business, but a whole lot less when it comes to growing a new business. The processes and practices that support the core business are often the very things that hinder new growth initiatives, this impedes and slows progress. Hence the need for an Internal Startup.
This is where the intrapreneur finds a way to navigate these obstacles. They know that to succeed they must co-exist in both worlds. It’s that space between the old and the new. The exciting space.
Corporate entrepreneurs are the new change agents that are ‘pushing, prodding and leading’ their organisations into the future. Yet, many organisations don’t understand who they are, why they are different or even why it is important to find and empower them. This has to change, or the company ceases to innovate and grow.
Organisations will have to recognize that intrapreneurs are and will continue to be the most sought-after person in the new economy, they have no choice.
There seems to be a lot of confusion whether they exist or not but try telling that to the many thousands of people who are engaged in this role throughout the world. Just because the consensus doesn’t agree, doesn’t mean it’s not happening.
Google is the perfect example. It’s not all table tennis and beanbags. Look outside Google and Amazon and its more the exception that the rule.
So how do you stop your most talented and loyal people from leaving?
The desire to instil an entrepreneurial mindset in employees is not enough. We know that thinking like an intrapreneur is not the same as being one. Without the opportunity to be an intrapreneur and the lack of backing and meaningful supply of projects it only serves to accelerate growing disappointment among staff who might possess this ‘trait’.
Intrapreneurs will always find creative ways to demonstrate their value by taking decisive action. This is why so many workers are disengaged and eager to find the next opportunity that offers them a new and exciting challenge.
There is growing frustration among staff looking to engage in entrepreneurial projects within their organisations and without the opportunity to engage it’s leading to the migration of workers to become self-employed and in some cases look for projects in other organisations that create value and can make a difference.
As you can imagine this is a ‘rabbit hole’ of massive proportions and we are only scratching the surface but to finish, if you are looking to hire new people and empower your existing staff then you need to take this change seriously, because you can bet your competition is.
Have a great day.