Can’t we all be CEOs?

Gen Y grew up being told they could be anything they wanted to be. Seems like they all want to be CEOs, and a college degree, maybe a few of them, is the best way to get there, right?

The question for Gen Y does not seem to be, “is education worth the debt,” but rather, “should I go to college or just start my own business now?” It’s a completely new way of looking at work.

And maybe that’s OK, since so many Millennials have entrepreneurial tendencies. But start-ups aren’t keeping Gen Y from moving home. Thirteen percent of adults aged 18-29 are moving back home with their parents, and it’s not because their parents desperately need them for tech support.

What about all these job openings?

Meanwhile, jobs are going unfilled. Trade jobs. As of last year, even with high unemployment rates, there were as many as 3 million unfilled trade jobs. So, why aren’t more Millennials jumping into trade professions instead of moving home?

I recently lost the stylist who’s been doing my hair for a year. She’d gone to beauty school, paid for her license to practice, and then quickly realized she could make a lot more money waiting tables at the burger joint across the street from the salon. She left. “What’s the point,” she said, “of doing all that work and paying to stay certified when I can barely pay my rent?”

Is education Gen Y’s downfall?

Certainly, out of work and student loans is not a great position to be in for anyone. But does that mean education is a downfall?

I’d hate to say that education is anyone’s downfall. However, the proper education is key to success, success for both for employees and employers. And that education can come from anywhere. From a classroom or on the job training.

When I went to college, I was under the impression, probably because someone repeatedly told me, that I wasn’t there to learn how to do a job; I was there to learn how to learn. And knowing how to learn would prepare me for any job. That may be true, but someone hiring me would have to be interested in teaching me.

Make Gen Y’s education work for you.

Teaching employees how to do the jobs that need filling is exactly how Cincinnati Children’s Hospital Medical Center is filling a need for nurses; they’re upskilling existing employees. They are identifying the skills they need their employees to have, and then connecting current employees, including cafeteria workers, to training programs that teach those skills.

Education is important. Education can lead to better incomes and higher level jobs. But it needs to be the right education, in the right place at the right time.

We can’t all be CEOs because someone needs to work at your start-up if you’re going to be successful. To get those employees, the best and most educated may need to be taught new skills that will help your organization succeed. And there needs to be incentives to work for you, otherwise, if they can make more money waiting tables, they will.

Bottom line, Millennials who have degrees and student loans know how to learn. If you can’t find a way to make that valuable for them, you’ll be hiring from a less educated talent pool. That’s not to anyone’s advantage.

Even if education IS the downfall of Millennials, it’s not likely that the optimistic generation will see it that way. This uber-educated generation will find a way to take what they’ve learned and put it to work somewhere, maybe their own company, and if you’re willing to do some training, maybe it’ll be yours.

Succession planning should be done openly and honestly. Keep channels of communication open to those involved so they understand the process and why it’s important to them and the organization. Use it as an incentive to engage your best employees and earn their loyalty.

1. Do a succession audit

During a succession audit you’ll need to take stock of a few different things. Look at the management positions you have, the vital roles in your organization that need to be filled for you to function successfully, how many of those positions have successor already inside the organization? For each role, consider which employees are ready to step into that spot if the current person left and which would be ready with some training or mentorship.

This isn’t just a brainstorming activity; put it in writing.

2. Collaborate with your leadership team

This audit shouldn’t be done in a vacuum; collaborate with your leadership team, the people in those vital roles who would need to be replaced. Those employees currently in the roles will have a good perspective on what will be necessary to replace them as well as who in their departments shows leadership potential. Collaboration with the team will also lead to a stronger understanding of what is needed, who is needed and how to carry out the succession plan through career development.

3. Communicate your succession plans to involved employees

The best way for your employees to find out you value them and want to see them grow with your organization is to tell them. Make it clear that they have a place to grow and challenge them along the way while training them for their move. Send them to leadership programs, assign them mentors, allow them to job shadow, expose them to others who can help or coach them, give them opportunities to let you know what they want to learn.

Knowing you have an active and healthy succession plan will motivate all your employees who want to be a part of it. This will resonate especially well with Millennials. Communicating your plans to give them increased responsibility will make them feel appreciated. Programs to help them grow will keep them engaged, and communicating openly with Gen Y shows them that you practice transparency, something they value.

4. Know where else to look

Not all vacancies can be filled with internal candidates. It’s important to bring in new employees outside of your organization who have different ideas and a new perspective. Know who you can trust to help you recruit new talent before the need arises. Use social media sites like LinkedIn to keep track of prospective employees.

5. Review your succession plan regularly

Let’s face it, things change. Your business evolves and your organization’s needs shift. It’s important to make sure your succession plan evolves and shifts with your organization and the right employees are receiving the proper development. Regular review will give you an opportunity to make sure your plan is realistic and working.  How often you review the plan depends on how quickly things change, but at least twice a year is a good goal.

Planning ahead and giving your future leaders the training they need now will strengthen your organization in the future, not only because you’ll have the best employees, but also because you’ve developed a relevant strategy to keep pushing your company forward with strong leaders.

In Mad Men, Don Draper states that “Clients don’t understand their success is reliant on standing out, not fitting in.” Mad Men might be set in the 1960s, but that’s still true today, especially when it comes to reaching Millennial consumers. They don’t want to fit in and you shouldn’t either.

Once you have their attention, Gen Y wants authenticity. A bold campaign can show them you’ve got guts, are willing to put it all out on the line, and take a risk for your product.

Want your marketing to work on Gen Y? Be bold, authentic and create an experience.

It’s been working for Apple. Apple has been around longer than the Millennials (those born between 1982 and 1995), but they were creating advertising campaigns to appeal to the next generation since before that generation was old enough to pay attention.

Tech-savvy Gen Y seems drawn to Apple products. According to a recent Forrester survey, Gen Y is the leading age group behind purchases of Apples iPhones. Why is that? Apple does a remarkable job using bold advertising campaigns that reach the Millennial consumer. Apple understands the shifting role of technology in our changing lifestyles, and they know how to market it.

Bold advertising has been working for Apple since 1984 when they introduced their new Macintosh computer in a commercial directed by Ridley Scott that didn’t even show the product. Apple understood then how to sell an experience. And they’re still doing it.

Apple does it again with their “Get a Mac” campaign that talked about products in a completely new way. Apple humanized the products and used funny conversation and information to sell their products while boldly mocking the competition.

In both cases, Apple focuses on the experience the product provides the user. They get your attention and make it memorable without showing their products. The campaigns are bold and simple with a feeling of authenticity. The trend continues with the latest iPhone commercials. And Gen Y will continue to buy Apple products.

You don’t need to be a flashy new technology to get Millennials to notice your products, but you do need to be bold, authentic and create an experience. When it comes to reaching Gen Y, getting them to buy, it’s no guts no glory. What have you got to lose, besides that 200 billion dollars Millennial consumers are spending annually?

Membership pricing

This is not business as usual. Even if your association has been using cost-plus pricing for years, as interest in joining associations declines, pricing structures need to change. Pricing needs to be based on a willingness to pay.

Pricing is important; it’s also difficult. Senior vice president at Marketing General Inc., Tony Rossell, says that “proper pricing has a huge influence on the viability and success of any product or service.” That includes your association membership pricing, and you have complete control over it.

What you are selling is an experience. And that’s what you should focus on when planning your pricing–what that experience is worth.

Members join for all different reasons; not all of them value networking or conferences. You need to know why your members are there and what your association offers. Every member doesn’t appreciate everything your association can offer. You may offer 10 valuable services, but each member might only value two of them. In that case, it doesn’t matter what it costs to provide 10 services, it matters how much your members are willing to pay for two of them.

Membership marketing

Your future members, the Millennials, value experience over price. It’s obvious in the way they shop retail, and it’s the same when they shop for professional associations. You might be the cheapest organization on the block, but if you can’t offer them a rewarding experience, they won’t be buying. And they’re not the only ones.

Let’s face it, if low prices trumped experience, Disney World would be out of business. But, Disney is selling a dream, the opportunity for dreams to come true. You can’t put a price on that. Customers pay, a lot. Cheap beer brands like Miller also do very well focusing on the experience of the product over the price, even though the price is low. Customers are buying into the value products bring them, expensive or cheap; it’s about the experience.

Your membership dues need to reflect value. However, if you aren’t offering much, cheap dues won’t drive membership. You’re better off increasing value and increasing prices. It’s about personal identity. People identify themselves by the way they spend their time, not on how much they spend on membership.

If your association is focusing on the value, the experience of being a member, not what it costs you, your prospective members will be thinking about the same thing. You want your prospects thinking of the value; it’s the only reason they’ll be willing to cover the cost.

Who are the Millennial consumers?

Gen Y consumers are social

Word of mouth still works on these tech savvy digital natives. They’ve worked in groups their whole lives, are comfortable with collaborating, and guess what, they do it when they shop too. Over 44% of decisions made by Gen Y result from word of mouth recommendations, that includes decisions about what to buy. If the Millennials like your brand, they’ll tell their friends and family about it.

Get the Millennials talking about your brand. To get to this very basic analog form of marketing, you should definitely use the latest technology.

Gen Y  shops and reviews online

Now is not the time to ignore your online marketing. Social media is a must. Millennials build relationships online, not just with their friends, but with brands as well. Interacting with them in a genuine and engaging way online will keep you at the top of their minds when it comes to spending money.

According to Digital Marketer, 84% of Millennials look at social media reviews of products and services before they buy. Fifty percent of them take advice from social media when it comes time to making purchases.

And do not forget about your website. Gen Y wants it now and they want it to be easy to interact with your site. Make getting information and buying products online a simple, enjoyable and fast experience. Navigation should be clear and information easy to find. Also, give them an easy way to communicate with you if they have questions about your products.

Gen Y is mobile

When we talk about online marketing, we also need to talk about mobile marketing, because Gen Y is mobile. Millennials are shopping on the go and you need to take that into consideration. Marketing plans need to be mobile.

Make your mobile marketing interactive, brand correct and be prepared to deliver on demand. That means your website is responsive so when Gen Y pulls it up on a smartphone they don’t have to squint to see the details. If you’re offering online coupons, they should be redeemable from a phone screen.

Gen Y’s approach to consumerism is completely different from the generations before them. Growing up with technology in an information age means they want it now and they want to interact. That’s not always easy, but companies must be utilizing the latest online tools to reach Millennials. The good news is, if you can provide them what they want when they want it, they’ll do your marketing for you by telling their friends and family about it.

Want to know more about who the Millennial consumers are and how to get them to buy from you? Check out our latest white paper “Getting Gen Y to Buy.” This paper takes you into the mind of the Gen Y consumer and gives you examples and tips for getting their attention and creating loyal customers.

Being a Gen Y, I can personally attest to my generation’s dislike of being sold to. I dislike sales so much I chose a career path to avoid it! If the only way I can purchase something is by forcefully spending my precious time with a gym membership or car salesmen, I am immediately turned off from the company.

Starting to feel concerned? You should be. But don’t worry, I’m here to tell you how to create an experience with Gen Y that can be a win-win for you and the Millennials.

Create an experience

Gen Y isn’t looking for the one-time sales deal, but rather a commitment or partnership with a brand or organization. Once you hook us we are very loyal. The question is, are you ready for a relationship with Gen Y?

Synergy

Unlike other generations, Gen Y is used to new and emerging technologies. This is a generation that can easily adapt and juggle different platforms. One thing should be consistent across all your platforms: your design and message.

Gen Y should instantly be able to recognize a brand simply by the look of a product, based on how a company markets themselves. The same should be true for all marketing channels. The experience should be similar (not duplicated) in social media, traditional and online advertising. Take advantage of each platform’s strength, and cohesively insert your organization’s message.

Engage

Traditional sales methods often lead the potential consumer out of the equation. Research to find where your target market is, when they’re there and what they do. Gen Y likes to build a community, so show them what you bring to the table. How will Gen Y benefit from joining your community? Host, cater or sponsor a popular Gen Y event. It’s a great way to interact with your consumers face to face and hear what they have to say.

Word of mouth

Word of mouth is, by far, the most crucial seal of approval from Gen Y. If they like a company’s product, experience or message they WILL let their followers, family and friends know. Gen Y reads product and customer reviews and takes the feedback or criticism to heart when making purchasing decisions. Whether you receive a positive or negative review, respond to it immediately. Gen Y likes to see you care about them and each individual purchase, like or comment is valued.

Whether you’re an established brand or just starting out, don’t forget the power of Gen Y in today’s economy. As one of the largest groups since the Baby Boomers, Gen Y has a very influential impact on business. Instead of always trying to forcefully sell a product, focus on how to present your company/brand in a cohesive manner. Interact with Gen Y across all available channels to prove you are listening and are committed for the long haul.

Looking for additional ways to engage Gen Y? Download XYZ University’s latest white paper “Getting Gen Y to Buy.”

Photo credit: ProjectGlobalGeneration.com

There are always good intentions with their reasoning. According to Greenfield Services’ 2012 Pulse Report, 63.2% of associations said that member engagement is a top priority to work on (within the next year). It’s not as simple as you think: our research has shown that a tough road is ahead, in order to build a strong connection with the member base. Fighting the tide of low volunteer commitment, low participation on social media, events, and other non-dues purchases are examples of metrics to consider on your own levels of engagement.

The Pulse Report also found that roughly 25% of survey respondents have indicated that 75% of their members were involved with certification programs. This means that organizations who offer mandatory affiliations are “good enough” (for now) to be relevant, but for how long? One fifth of respondents say that they knew their members joined because they had to not because they want to.

No matter what the economy looks like, nobody should have to second guess a reliable source of membership and revenue. But we’re only doing part of our job if people affiliate with their associations because they have no choice, not because it’s where they want to be. And that goes back to the community-building tools that most associations are still learning how to use.

• With the right strategy for engagement and outreach, members build their own networks and find their own ways to maximize the value they get back for their annual dues.
• An effective social media program creates a steady flow of valuable news, information, and education, while creating pathways for members to pick the content that is most useful to them.
• Associations already know that volunteering is a virtuous circle—the more actively members engage, the more likely they are to stay involved. By placing members themselves at the centre of your membership strategy, you can give them many more reasons to volunteer.

The 2012 Pulse Report showed that there’s a lot of work ahead for associations that want to re-envision and recreate their member relationships. But unless you’re delighted with your member engagement and revenue, this might be the right time to get started.

For more statistics, download the full report, or participate in the 2013 version to obtain the most recent stats!

When Justin Bieber accepted the Milestone Award at the 2013 Billboard Awards, the crowd booed. This caught the musician by surprise since it is a fan-driven honor. Music critics believe Bieber’s recent antics–showing up late to concerts, threatening paparazzi, and alleged drug and alcohol use–have disappointed fans.

That same night, during the live broadcast of Celebrity Apprentice, Donald Trump singled out finalist Penn Jillette for writing “bad things” about him and attacking him in a published book. Shortly thereafter, Trump announced Trace Adkins as the winner of Celebrity Apprentice.

Beiber is feeling the heat from his fans and Jillette didn’t get hired as Trump’s apprentice largely because of distrust.

During the past 40 years, trust in each other and many institutions has been dropping steadily. These years were marked by events that furthered distrust–like junk bonds, Monica Lewinsky, Enron, Catholic church sex scandals, and the Iraq war, to name a few.

As a result, much research supports the case that Generations X (1965-1981) and Y (1982-1995) are the most distrusting generations in history. Chances are, if you work with young professionals, they aren’t especially trusting of you or your organization.

This decline poses a risk to business; trust is critical to driving business results and engaging employees–especially young employees. To them, trust is everything.

Here’s what younger generations want you to know about building their trust:

• It’s all about personal growth. We will know you trust us if you are open about the importance of our contribution to the team and the organization. Help us understand how our daily tasks make the whole company function.

• Use technology. You will lose our respect if the WiFi doesn’t work, our computer time is monitored, social media sites are blocked, or any technology is outdated.

• Work-life balance is essential. The very idea of flexible work schedules is one of trust. Trust we will do the work we need to do when it needs to be done.

• Encouragement is appreciated. Build trust with us by demonstrating your gratitude for our accomplishments. Feedback, encouragement, and recognition will keep us happy and performing.

• Ask for our input on decisions. But if you’ve already made the decision and you’re not open to changing your mind, don’t go through the motions of bringing us into the process. You won’t get buy-in. In fact, we will feel conned. Trust us to be part of the decision-making process.

• Give us an opportunity to make a difference. Don’t tell us we’re too young to move up or we’ll probably move on. Challenge us and trust us with increasing responsibility. We want the opportunity to impress you and do meaningful work.

When it comes to gaining the trust of younger generations, these are the strategies that work.

Trust me.

Read full article here (starts on page 12).

Image source: http://www.fundraising.co.uk/

In the face of the ever-changing knowledge economy; now more than ever, there is no manual for a successful career (however one chooses to define success). After nearly 10 years in the working world, I’ve unconsciously sought and received mentorship from a “crowd” of engaging, successful and extremely generous people.

Traditional mentor model

The traditional mentor model involves one-on-one guidance where a senior/seasoned professional provides advice, guidance and advocacy (for the career of) a younger/emerging professional. A few years back the President of the association management company I work for, Base Consulting, was assigned to serve as my mentor; this relationship has been highly productive we shared some of our thoughts on how to structure a mentorship program in an article for Forum e-magazine.

It is important to note that a traditional mentor may be part of your wider “crowd” and is likely to be giving more specific thought to what will be most helpful to you.

Crowdsourcing

It is helpful to understand what I mean by crowdsourcing, and to be very clear that in this instance I do not mean crowdsourced funding (such as the process employed by kickstarter and similar websites). I’m talking about crowdsourcing as the gathering of ideas/data/information from a large group of people (the crowd). Crowdsourcing is most useful when that information is then consolidated, with the very best ideas used to draw a conclusion or a solution.

Last year I attended TEDxToronto for the second time. One of the talks that got me thinking was given by Vas Bedner that outlined the potential application of crowd sourcing to solve public policy challenges (the video really gets into the heart of the issue around 4:15). If crowdsourcing can be applied to policy – one of my first loves – it must be applicable to other everyday situations!

Harnessing my accidental crowd

I have used the advice, counsel and constructive criticism offered up by peers, bosses and others as open data in my crowdsourced mentor model. None of this was done with some grand plan in mind, instinctually I have cultivated a crowd (network) that has provided me with the ideas, data and information that I have used to make decisions in my career and in life.

Step 1: Find your crowd. Your crowd will shift over time, it must be continuously refreshed, and sometimes a light spring-cleaning will also be in order. Not everyone in your vast network is a suitable member of your crowd. The most enduring and insightful members of my crowd have achieved an element of success in an arena where I aspire to be a player. Is this person someone you want to emulate?

In the case of my very first boss I found someone with a similar educational background, similar beliefs and values, and in terms of a world view that includes gender equality. We were also both on the same page with career goals I would be more than pleased to follow. As it turns out, I have been lucky that she is always generous with her time and advice.

Step 2: Listen and Learn. As with open data, the advice that your crowd gives you every day is useless to you unless you capture (listen and absorb) it in an algorithm (in this case good judgement) designed to make the best use of the consolidated data (a solution or plan of action). Sometimes the best advice must be plucked from in among some unsolicited advice you have no interest in hearing.

To return to my life as a political staffer, or rather, to the-beginning-of-the-end of that chapter of my life: In the summer of 2007 with the government I worked for facing a fall election I began to consider if it might be time to consider doing something else, had I made the difference in government that I had come to make? Was it time to move on? A senior (to me) colleague and I were having lunch one day when she asked me “so what do you want to be, a better policy advisor?” While I am sure that she was trying to get me to give some consideration to my options, I doubt that she meant for that line to be the only thing I remember 6 years later.

Step 3: Act! Once you know that the source is worthy (step 1) and have noted the gems of advice (step 2) its time to act. The plan of action in this case is how to move forward in your career and in life.

So there you have it, rinse, lather and repeat! A special thanks to my crowd, who remind me every day of my favorite quote by Booker T. Washington ~ “There are two ways of exerting one’s strength; one is pushing down, the other is pulling up.”