Feedback 2.0

Welcome aboard. We have on this flight to the new cultural shift Gen Y and Gen Z and we would be reaching our destination ‘Feedback 2.0’ in the short span of time than we may ever realise. In today’s context, organisations are frequently innovating in their performance management system so as to include the aspirations of the new and upcoming Millennial generation.

Gen Y (Loosely defined as generation born in early 1980’s) along with the Gen Z (Born in early or mid 1990’s) believe in a faster career progression and regular feedback. They don’t wanna waste their time sticking to one organisation just to wait for the next career ladder. They believe in fast recognition of their work and emphasise more on results rather on sticking to time like the Baby Boomers/Gen X. Organisations like Adobe have revamped their performance management and have made feedback an ongoing process throwing away the old annual system. Companies like Google have encapsulated the 360 degree feedback system while Microsoft believes more in employee behaviour as compared to the targets defined.

To keep our PMS updated with the ongoing cultural shifts due to the generation gap we have to evolve and introduce a new performance evaluation system, Feedback 2.0:

1.      Bake the cake and eat it too: If we have an ongoing regular feedback mechanism, we would be able to meet the aspirations of the Gen Y and Gen Z which will make them more comfortable in view of sense of recognition. If make feedback system to be robust that can accommodate changes after a quarter we would be able to recognise the talent and do away with the recency effect that but naturally comes in the annual appraisal system. Through this process, we would be able to incentivise Gen Y and Z to work more productively as after every three months we would be able to compensate or give a due promotion to the right talent which otherwise would have to wait for the annual cycle. Gen Y and Z being impatient in this context would never stay back for the entire year if something more valuable comes up in their kitty.

2.      Don’t talk, better connect: Through the revamped Feedback 2.0 we would be able to meet and talk to the Gen Y and Z on a regular basis which will make them more comfortable and engaged at the workplace. We should remember that an engaged employee is a more productive employee. In short, don’t discuss after a year, better give the right direction at the right time. Moreover, an engaged Gen Y/Z‘er would also resolve the retention problem.

3.      ‘FB’ the recognition: The word ‘FB’ has become synonymous to this generation who want to put up everything on the social media and are not hesitant to write to the executive level. Gen Y and Z don’t believe in waiting for the trophy or certificates. They want the rewards instantaneously which they can show it off to their friends over the social network within the organisation. We should build a power packed R&R system where client or manager appreciation could be shared over the network which gives them their moment of pride over the social media.

If we are able to connect with this Millennial generation, we would be able to build the employer brand and hence the right talent will automatically flow with the current and come to the right bucket. This new generation might be too demanding but I am sure if we ride with them will have a safe touch down!

High Performing Abundant Organisations

I woke up in the morning, dragging my feet, trying to settle things and making my way to office. My friend, however, is fresh and full of energy. He thinks of what change is he going to bring today and how many lives will he be impacting by his work. Which one are you? How do you relate yourself to the larger organisational goals?

Organisations these days have set up high performance work culture wherein, they have linked their performance management, compensation and people strategy to enhance the employee effectiveness. They are working for the development of their employees to survive the competition. However, if we look at the abundant organisations (Dave Ulrich – The why of work) they are adding value and meaning to the life of its employees and working for the customers and the society at large. With the diversity and community services paving its way in the corporate policy and organisational budget, organisations are trying to do their bit to benefit the society, however, somewhere they are missing the employee’s why of work.

They have made their corporate policies more employee friendly, investing more in learning and development of the employees but still the turnover remains the biggest concern, which is always remarkably high. Why is that citizens of the organisation (Henceforth referred to as Empizen) are still not empowered and they keep on looking out?

Our empizen keep on exploring better opportunities as is the case with GenMe and Gen Y looking for better roles and career development. The GenMe and Gen Y always look out for empowerment in the role and better and bigger decision making ability. They just don’t fall flat for a bigger pay package. Our empizens want the meaning of work in their lives. They want to know and understand the value they are giving to the organisation through their work, which is missing in our HR strategy. Many a times, it has been seen that as part of our HR strategy, flow of people and flow of information is missing.

There should be a proper and continuous flow of information from the top management till all the empizen at the grass root level are empowered. They should know what their small action will be converted into at the larger level.  Simply investing in L&D will not suffice, it should be properly synced with the career aspiration of the empizen and the organisational strategy. This can be achieved only when our leadership is aware of this and know how to tackle these challenges. The empizen look onto the leaders and want to be one of them. Our leaders should be able to coach and mentor our empizens so that they consider themselves as part of the family and come to work every day with full passion. When the employee feels he/she is the empizen of the organisation, he will be more engaged, productive and would serve our customers better. Hence, empizen would understand the value he/she brings to the organisation through the work and would result in better financial numbers. 

    

So, are you going to add value and meaning to your/someone’s work tomorrow?  

Motivating Gen Y

Are we following the right steps in motivating our Gen Y work force? This Gen Y workforce who is very high of himself/herself might be circling around you while listening to their ipods. They are always online, texting, tweeting and don’t ever block their path even while in office. This is the kind of workforce we are talking about. Though much has been written and said about these employees but still we have to catch up a lot in terms of our practices. 

Gen Y has no issues in voicing out their concerns so don’t ever think about trying to suppress their ideas.  Hearing out their concerns and working on their issues give them a lot of ego boost which is the base of their career development. They are constantly thinking of new and innovative ideas and have entrepreneurial mindset.

In order to keep this flock of employees motivated, we must check on following few things:

1. Always make sure that they are working in teams as these are the people who have grown up hanging around with friends
2. Give them regular feedbacks. Don’t ever wait only for annual appraisal/review
3. Don’t intimidate them by poking your nose in their work style
4. Give them enough flexibility in their work culture. Don’t try to bind them with forced time lines
5. Have proper communication channel. Don’t leave them working in silos
6. Reward them intelligently. Don’t just rely on appreciation mails
7. Recognize their work based on their performance and not on their tenure

These are the people who as per Dave Ulrich believe in Life/Work Balance and not Work/Life Balance as for them their work revolves around their lives. If we start working towards their recognition, development and growth, these Gen Y people will have no issues working for the same organisation.