1. In The Office
INNOVATION AND TECHNOLOGY
By Federico Re
About Federico Re
As an entrepreneurship
coach, Federico Re has
spent nearly two decades
assisting numerous
fast-growing SMEs to focus
on entrepreneurial
leadership and innovation.
For more information about
Federico’s executive
leadership and coaching
programs, please visit
creativeentrepreneur.com.au
or contact him on
(+61) 408 510 378.
How millennials build and sustain relationships.
W
e live in a
complex world
dominated by
ever-emerging
technologies,
a multitude of social media
platforms, fast-emerging trends,
and technologies pivoting around
the digital space, the environment,
geography, culture, consumer
trends, gender diversity, and
different belief systems.
In Australia, this landscape is
ever-changing, and is progressively
being dominated by the younger
‘millennial’ generation, who appear
more capable and adaptable in
surviving this tech-driven
environment. So how do the
millennials position themselves in
this space among their peers and in
public, and how do they go about
developing and sustaining their
relationships to achieve their goals
and objectives in life and at work?
How do they use technology as
their key weapon to survive?
The generation gap
There is a 20-year gap between the
millennials and gen X, and an even
bigger gap between millennials
and baby boomers. There is no
surprise, therefore, that these
generations carry different belief
systems, have a very different
communication style, and prefer to
network in very different ways.
While we closely examine these
differences, we must also
understand and contrast this
against the older generation. By
understanding this relationship, it
will provide the business leader or
manager with a unique opportunity
to capitalise on their worth within
the workplace environment, to
enable them to successfully
integrate with their older peers.
To support my views on the
millennial generation and provide
a further perspective on this
new-age topic, I spoke to Omar
de Silva, the Director of Bachelor
Programs at Ducere. Omar is a
key pioneer in the development
and launch of Ducere’s bachelor
programs geared towards young
aspiring entrepreneurs. As a key
person of influence in the
education sector and for the
younger generation, I was able
to hear Omar’s perspective on
what drives this generation and
how they prefer to integrate
into society.
Networking
I’m always intrigued and curious to
observe how the younger
generation go about engaging with
other people day to day. Their
favourite choices include text
messaging their best ‘friend’ while
walking head-down to the tram
stop, or watching a live footy game
while viewing their friends’
Facebook posts, as well as
simultaneously checking out where
the closest pub is located using
their AroundMe app on their
iPhone so they can catch up with
their mates after the game.
When it comes to networking in
their business environment, Omar
believes that millennials don’t just
go out to meet new prospects, but
rather combine other ‘fun’ activities
simultaneously using their
smartphones to also achieve their
immediate goals on a personal level.
Essentially, new-age networking is
all about having a ‘social lens’ put
over traditional face-to-face
networking. Millennials are driven
by ease and are focused on
achieving their outcomes in the
quickest and most efficient manner
possible. The common denominator
is the simplicity of the user
experience. Millennials ‘work to live’
rather than ‘live to work’.
Are you millennial friendly?
So how do you ‘befriend’ a
tech-savvy, multitasking
millennial and ensure you are
accepted in their digital world?
Whether or not you are their
manager, peer, or simply the
person on the street who happens
to need their help, you must
understand the fundamentals of
how they think.
First, you must embrace and
understand their abbreviated
language made up of acronyms
such as ‘2F4U’ (‘too fast for you’),
or ‘IOW’ (‘in other words’).
Second, do you support or endorse
their favourite brand, product,
technology, or new-age belief?
Examples include the latest iPhone,
the latest app to lose weight like
Lose It!, the latest TV platform like
Netflix, or the latest fad or trend.
Millennials are also motivated by a
diverse range of digital channels
like online chat, social media, and
mobility, as compared to traditional
TV advertising, telephone, or
instore counter interactions.
Nurturing the millennial
Instant gratification
Millennials are not prepared to
wait for their next annual
performance review to receive a
pay increase or promotion. Their
expectation is that they should be
incentivised now for their ‘hard’
work or ‘innovative’ idea. This fact
often creates a problem for the
baby boomer within the same
workplace environment: by default,
the older generation is more
accepting of the fact that reward
comes from hard work, loyalty,
commitment, patience, and earning
the respect from their boss or
older peers.
A solution to this problem could
be to offer employees, regardless
of their age, an opportunity to
contribute their ideas for new
product developments and receive
a financial incentive for the
successful launch into the
marketplace. Another option may
include public recognition from
within the company for their
‘entrepreneurial’ efforts at large.
Aligned values
Regardless of the generation,
mutual trust and respect must be
core in any relationship. So if a
millennial employee chooses to
spend one hour each day on their
Facebook page to chat with their
‘friends’ or colleagues, and this
produces a fruitful outcome for the
organisation and a sense of worth
or wellbeing for the individual,
then this option must be officially
endorsed and widely accepted by
management. In reverse, if
management decides to limit this
resource for whatever reason, then
the employee must respect the
traditional habits and values of the
company. Essentially, trust must be
earned through honesty, integrity,
transparency, and aligned values
between management and staff.
Networking and social cause
Offer employees a chance to
network outside of their traditional
environment by utilising available
platforms like Meetup, Google
Hangouts, ask.fm, etc. This will
vastly extend their available
networks and resources, enabling
them to engage in open
discussions, express their opinions,
and learn about the greater world
in connection with their role or
profession at work.
This form of networking is
guaranteed to appeal to the
younger generation and prevent
their feeling trapped or locked in
an old-school workplace
environment. Millennials need an
outlet to express their opinions
and views towards social matters
such as relating to the
environment, gender diversity,
culture, and trends.
The perfect mix
There is no silver bullet for
successfully managing and
nurturing the millennial
generation. Nor is there a perfect
balance between the new-ager and
the veteran employee when
building your team in the
workplace. “It really boils down to
the generalised personality traits of
the individual, and the particular
attitudes and skills they possess
which need to be aligned with the
company’s culture and values,”
Omar says. Each individual is
unique and will require a different
management approach. It’s also
about finding people with an
‘intrapreneurial’ mindset, and
knowing how to nurture such
people to keep them enthused and
committed to their jobs.
Millennials are
driven by ease
and are focused
on achieving
their outcomes
in the quickest
and most
efficient manner
possible.
theceomagazine.com The CEO Magazine - January 2016 77.76. The CEO Magazine - January 2016 theceomagazine.com
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