OBMA_Dana Scott

Dana$Scott$

AUGUST$10,$2016$

ATTRACTING(AND(RETAINING(A(NEW(GENERATION(OF(

EMPLOYEES(

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TABLE OF CONTENTS

Executive Summary…………………………………………. 2

Introduction…………………………………………………… 3

Research Methods…………………………………………… 4

Organizational Background…………………………………. 5

Area of Strategic Opportunity………………………………. 6

Current Strategic Positioning……………………………….. 7

Proposed Strategy…………………………………………… 9

Strategy Execution………………………………………….. 11

Conclusion…………………………………………………… 14

Appendix: Creative Component…………………………… 15

Annotated List of References……………………………….16

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EXECUTIVE SUMMARY

A large, established pharmaceutical company (which I will refer to as “Star

Pharmaceuticals”) is having challenges attracting and retaining a younger, diverse

workforce. The average employee age is 45 yrs. old, and in order to maintain a

leadership position and have succession plans in place, they really need to focus on

engaging millennials (ages 23 to 38). What is it about the company that is not attractive

to younger employees? Is it the reputation, the culture, the managers, or is the work

environment not inclusive regarding it’s opportunities for advancement?

I propose the following methods to try to determine what about the company is

discouraging to younger employees: external benchmarking, internal focus groups,

employee surveys, one-on-one interviews. In addition, various employee engagement

and internal communications initiatives are planned, as well as special events to

energize the workplace and make people feel more valued and feel that they are in an

exciting environment. These would be both short-term and ongoing initiatives.

The company’s external marketing and outreach will also be evaluated, and they

will be enhanced and targeted to a younger, more diverse audience.

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INTRODUCTION

There are over 90 million Millennials in the United States, making it the largest

generation. In order to retain a leadership position in the marketplace, companies that

have an older generation of employees will need to revise recruiting and retention

practices to attract this population. A large pharma company that has been in existence

for over 100 years hired an agency to analyze its workforce and external reputation

among millennials. What it found was that this age group was looking at smaller,

younger companies when seeking employment, and that their older, established

company was viewed as too corporate and un-welcoming. As millennials are becoming

a major force within the U.S. economy, it stands to reason that attracting these workers

is important to build the next generation workforce.

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RESEARCH METHODS

I have employed a variety of research methods including web searches on

millennials in the workplace, for which I found a wealth of material. I looked at websites

of pharmaceutical companies that were in existence for at least 100 years – Merck,

Johnson & Johnson, Pfizer, and Abbott. Their websites included information on not only

the corporation, but also on various employee resource groups. Their Careers pages

also helped inform if the company appealed to a younger workforce.

I also looked at interesting survey results from Deloitte, a document on

Millennials on LinkedIn, various online magazines and articles, and books written about

the subject. There was really a great amount of materials on the topic.

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ORGANIZATIONAL BACKGROUND

Star Pharmaceuticals Corporation has a long, rich history. Starting in 1898 with

one drug, the company has grown into a worldwide organization with over 50,000

employees. The company is diversified in its businesses and products, ranging from

over the counter products to drugs that treat cancer. It advertises employment

opportunities from entry level to senior positions, ranging from project managers to

positions requiring a scientific background. The company has a good reputation

worldwide, and is known and trusted. Its brands are known by the average consumer

and physicians alike, and its dedication to quality products is part of its credo. The

average age of its employees is 45, and it strives to hire employees that are diverse in

race, gender, sexual orientation and age. While the company is able to hire talent from

the millennial age group, they have found that turnover rate is high. The average rate of

employment is two years.

Exit interviews have found that these young employees feel that they are not

offered mentorship programs, and the opportunity for growth is low. They only see older

(50+) employees in senior level positions, and those are mostly white, and the majority

are male. They did not feel a sense of purpose at their work, and did not feel like the

company cared about them. While they wanted clear direction, they also wanted a

company that was open to alternative ideas. The company needs to figure out how to

inspire loyalty among this generation, as the risk to the business with constant turnover

is high.

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AREA OF STRATEGIC OPPORTUNITY

Recruiting and retaining employees is critical to the success of any organization.

It is important in sustaining day-to-day operations of a company, as well as ensuring its

long-term success. Internal employee engagement initiatives play a large part in

keeping employees energized and motivated to pursue their work, no matter what it

may be, with passion and accountability. They also help employees understand and

embrace the mission and goals of the company.

Organizations that have meaningful and positive employee engagement activities

have more dedicated employees who come to work each day with a sense of purpose.

Employee engagement should always be looked at as a tool for the purpose of reaching

the organization’s goals and its success. Culture driven engagement is employee

engagement that encourages involvement with the company beyond their defined role.

It enforces a clear understanding of what the company does, and inspires a sense of

loyalty and identification with the company’s goals. (Rozen)

The expectation for clear communications and working for a purpose may be

greater in the millennial population. Millennials are socially conscious, highly tolerant,

very diverse, and plugged into technology. They are the most educated generation yet,

and will comprise 75% of the workforce by 2025. They want fulfillment, meaning, and

purpose in their work. (Deloitte Millennial Survey)

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CURRENT STRATEGIC POSITIONING

Having a diverse employee population, including diversity of age of employees,

enables a company to attract and retain the best talent and foster an environment for

innovation. Being inclusive creates an environment where people and their unique

perspectives can be heard and considered so the entire company is engaged and can

reach its full potential.

In researching a variety of public companies that have been around for 100 years

or more, I found that many are making a concerted effort to appeal to millennials.

Nearly every company had a Diversity and Inclusion area on their website. Johnson &

Johnson (founded 1886) “holds leadership accountable for recruiting, developing,

retaining and advancing diverse, global talent” – although the 3 people they had on this

page were all white, and included two 40-ish males, and one woman who looked to be

outside of the millennial age group.

At Pfizer (1849), “It’s about having many different viewpoints so we can innovate,

innovate, innovate!” They advertise more than 75 colleague resource groups, and

feature Mentoring and Networking on their Diversity page, which is a primary concern of

millennials. On their Careers page you can find not only photos of millennials, but a link

to their “stories” – which are really only one or two sentences, but it does entice you to

read further. Their “Own It” culture let’s employees be accountable for their own

success and the success of their projects, something that is also very important to

millennials.

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On Abbott’s (1888) career page, you can find racially diverse 20 to 30-somethings

dressed stylishly and casually, with one woman’s tattoo visible on her shoulder. They

also highlight Mentorship, Career Events, and Networking opportunities.

Merck’s (1891) career page shows a young African-American woman next to a

Professional and Leadership Opportunities section, a young white male next to

Graduate Opportunities, and a young woman of undefined ethnic background next to

Post-Doctoral Opportunities.

Clearly, for all of these companies, the goal is to recruit and retain millennials.

All of the companies also had Employee networks or resource groups, and these were

generally organized by race, ethnicity, gender, culture, and sexual orientation.

These are but a few of the companies that Star Pharmaceuticals is competing

with for talent. They have similar job opportunities, and all have similar statements on

their websites – “We empower our people to pursue innovation and challenge the status

quo.” “We appreciate differences and embrace new ideas.” “We strive to be a best-in-

class employer attracting strong talent and world-class leadership.” “We provide a

supportive and empowering work environment.”

Star Pharmaceuticals (founded 1898) needs to enhance their presence and

engagement with millennials not only on their website but more importantly, once the

employee is hired, ensure that their employment experience is a good one so that they

stay with the company longer than 2 years.

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PROPOSED STRATEGY

The name of my strategy is “StarWORKS 2020”, and my target audience is the

millennial employee, those born between 1980-2000, but specifically those currently

aged 20-36. According to the 2016 Deloitte Millennial Survey, 44 percent of millennials

plan to quit his or her current employer within 2 years. The lack of loyalty to their

employers is a serious challenge to any business. Also, according to the survey, they

say that their leadership skills are not being fully developed, that the success of

businesses should be measured beyond profit margins, and that how a business treats

its people is highly important to them.

I would work with Human Resources to ensure that there is available support and

training for those who wish to develop leadership skills. This would include not only

formal training, but also mentorship programs. These programs can be both formal and

timed, and informal, where the organization’s culture is one that encourages mentorship

on a day-to-day basis.

I found that most large businesses do have philanthropic programs and

sustainability programs. They give grants and other aid (products) to non-profit

organizations, and also employ many sustainability programs that help protect and

nurture the environment. Star Pharmaceuticals needs to increase awareness of the

good and charitable causes that it enables, ensuring that their employees can easily

grasp that it’s not just about the profit, but that the company is a good corporate citizen

as well.

On the company website, which now features an older looking white male in a

suit and tie, I would propose a new look that shows a more welcoming image for

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millennials. It would be important to signal quickly what it is really like to work at the

company. I don’t think you have to go as far as Abbott’s site (which illustrates a very

casual work environment), but somewhere in between where it is currently and the

Abbott image. According to LinkedIn’s Millennial Playbook “We are not a generation of

suits and ties, but rather creators and entrepreneurs.”

Most importantly, the internal arm of StarWORKS 2020 will encompass many

employee engagement initiatives and activities that will retain and energize the

millennial population. I propose an employee group geared for those in the millennial

age group. Anyone can join, of course, as it would help to get the experience and

perspective of the older generation in the company. It would not take the place of the

employee groups that are focused on race, ethnicity, gender, and orientation. This new

group would enhance that experience, and have the most diverse population of any of

others.

The ultimate goal of the Workforce 2020 Employee Group would be to develop

the next generation of motivated employees and leaders. Connecting millennials with

each other will increase engagement and retention. Activities would include skill-

building workshops, mentoring and coaching activities, team-building activities (i.e.

Habitat for Humanity days, helping at a local shelter etc.), internal and external

education events, and networking events. To communicate and keep all members

informed on a daily basis, an internal social media service such as Yammer would be

used. Monthly meetings, news and scheduled events would be posted there. The

employee should feel encouraged by the resources devoted to their development, and

the result should be and motivated and dedicated workforce.

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STRATEGY EXECUTION

First and foremost would be creating the employee group “StarWORKS 2020”,

as the main problem is retaining current employees. I want to know what their

experience has been working in the company, how long they plan on staying and why.

This could be done with an anonymous survey. Working with Human Resources, I

would ask for a report from exit interviews to find out why millennial employees left the

company. As millennials want advancement opportunities, chances are that they did

not find them in Star Pharmaceuticals, which employees an older workforce.

I would partner with a designer to create branding for this new employee group,

plan a launch event at a major site, and invite employees via email and on the internal

company website to join the group. Millennials are very comfortable with social media,

and I would initiate a Yammer work group as soon as possible to start conversations,

and to keep them going. Immediate success would be measured by responses and

attendees at the launch event.

It wouldn’t end there, of course. I’d have to keep employees interested by

posting and responding to colleagues statements on Yammer, advertise new events

and opportunities, and generally keep everyone connected. Since the company is

global, I think there would have to be different chapters of StarWORKS 2020 to

personalize the experience for different countries and cultures. Networking events that

would bring people together and help them learn about each other’s roles in the

company are important in establishing relationships. External team building events that

take place in a setting outside of work are important in developing those relationships. I

would enlist an external vendor like The Go Game to combine team building with

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technology, or create an event that is hands on work, like building a garden at a local

homeless shelter. Mentoring opportunities would also be a big part of this initiative.

Every generation can benefit from a mentorship program – the mentors (experienced

employees) get to share their knowledge, and the mentees get to feel included and

valued. “When employees feel as though their employers are personally invested in

their career success, they’re more likely to stay with a company and work hard to help it

grow.” (Boitnott)

Since the company does have many philanthropic activities already in place, I

would ensure that the StarWORKS 2020 group is well aware of what the company does

in the name of good corporate citizenship. I would also explore ways in which

employees can get involved in some of these activities if possible. “Millennials want to

feel like they’re impacting the community—and feel like the company cares, and isn’t

just about making a profit.” (Schawbel) Enlisting the help of StarWORKS 2020 in

community events sponsored by the company will further a sense of partnership.

I will also conduct a focus group of employees to assess what they like/don’t like

about the Careers page on the company website and on LinkedIn. I will ask for their

ideas and advice for making the sites more attractive and meaningful. Because this

would involve graphic design as well as technology, I will engage other departments in

the company to help facilitate a redesign. Since content is looked at on many different

platforms (laptop, phone, iPad, Apple watch) I will conduct an employee survey on

what the user experiences across all the platforms. A timeline for development would

be established, and success would be measured by calculating what demographic is

applying for the positions posted.

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CONCLUSION

When StarWORKS 2020 becomes a reality, and employees are positively

engaged with their work and their colleagues, the hope is that the company will be able

to feel comfortable that a successful future is ensured. I envision a work environment

where people trust one another, communicate often and in a variety of ways, have a

large network of other millennials to rely on and collaborate with, and have mentors who

will ensure their long-term success. Whether it’s posting a picture of an event or an

interesting article, attending a team building activity, meeting new people at a

networking event, the goal is positive, engaged employees who have no intention of

looking for another job any time soon. Ultimately, all of these activities will result in the

millennial workforce staying with Star Pharmaceuticals because they have a job that

allows them to feel valued, to innovate, and to grow into leadership positions.

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ANNOTATED LIST OF REFERENCES

I viewed and researched company websites, LinkedIn, and Twitter for the

following companies: Pfizer, Johnson and Johnson, Abbott, and Merck. Seeing what the

competition is doing on the web and on social media is vital to benchmarking. You can

get an immediate sense of what the company is like, and also find out the history of the

company, what they sell, and also get a sense of the culture.

Argenti, Paul A. Corporate Communication. 6th ed. Boston: Irwin/McGraw-Hill, 2013.

Print.

Boitnott, J. (2016, June 28). 6 Tips for Developing a Mentorship Program That

Keeps Millennial Employees Growing. Retrieved August, 2016, from

https://www.entrepreneur.com/article/278119 A short but informative article

offering tips to keep employees involved and happy, and to ensure the

environment keeps lets them thrive and be successful.

Lipman, V. (2016, June 27). How to Effectively Manage Millennials. Retrieved July,

2016, from http://www.forbes.com/sites/victorlipman/2016/06/27/how-to-

effectively-manage-millennials-5-dos-and-donts/#2ef227a26b08

This article provides tips on how to keep employee engagement high, and how to

keep negative management styles from lowering motivation in millennials.

Millennial Survey 2016 | Deloitte | Social impact, Innovation. (n.d.). Retrieved July,

2016, from http://www.deloitte.com/MillennialSurvey This 27 page document

was filled with extensive details on the why millennials may be dissatisfied with

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their current jobs. It had 7,700 participants from 29 countries, so the results were

very informative.

Rozen, D. M. (2016, July 28). Three Common Challenges (and Best Remedies) for

Employee Engagement. Retrieved July, 2016, from

http://www.huffingtonpost.com/michelle-rozen/three-common-challenges-

a_b_11203236.html This article explained why employee engagement is

so important in the workplace. It is not just nice to have, but has to be looked at

as a tool to help the organization reach its goals.

Rynne, A. (2016, May 11). Introducing the LinkedIn Millennial Playbook. Retrieved July,

2016, from https://business.linkedin.com/marketing-solutions/blog/best-practices-

-thought-leadership/2016/introducing-the-linkedin-millennial-playbook

Written by millennials, this 50 page document detailed why millennials have

influence, defined “types”, contained lots of statistics, and information on how to

build your own brand.

Sujansky, J. G., & Ferri-Reed, J. (2009). Keeping the millennials: Why companies are

losing billions in turnover to this generation--and what to do about it. Hoboken,

NJ: John Wiley & Sons. This book helped to explain the differences in

generations in the workforce, and details why their style and perspective should

be valued. Corporations could risk losing money and productivity if they are not

willing to adapt to the new workforce.

Team Building Games | Conferences, Corporate Events, Company Retreats, Festivals

and Marketing. (n.d.). Retrieved August, 2016, from http://thegogame.com/team-

building/games In order to engage employees on a larger level, even a

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global level, having a team-building activity like the ones on this site could help

generate a sense of camaraderie and collaboration.

Yammer: Social Networking - Connect with Your Coworkers. (n.d.). Retrieved August,

2016, from https://www.yammer.com/ I researched internal communication

and Yammer was one of the tools that I found interesting. It’s a mix of Twittter

and Facebook for business, and I think would be a perfect way to link with a

particular group to share information.