Last week, I was quoted in an article in the Wall Street Journal about companies that seek to retain millennials:
Some managers think companies should stop trying so hard. They cite “The Alliance,” a book co-written by LinkedIn Corp. co-founder Reid Hoffman that proposes a different model for the employer-employee relationship—one based on mutual expectations and the possibility of the employee leaving.
At LinkedIn, managers often segment an employee’s career into “tours of duty” that last a couple of years. The employee and manager agree on specific goals to be met during that period. At the end of a given tour, both parties understand that the employee might leave.
“By talking openly about the fact that an employee might leave, you actually increase the likelihood” that he or she will stay on, said Ben Casnocha, a co-author of the book and Mr. Hoffman’s former chief of staff. Employers should make clear that “if it makes more sense for you to leave [than stay], that’s OK,” he added.
A client of Allied Talent, our consultancy that works with companies on talent management, is featured in the article as well:
Toby Murdock, CEO of Kapost, a Boulder, Colo. marketing-software firm, said he has adopted that mind-set. “It is a very fluid marketplace for young people,” said Mr. Murdock, 41. “Let’s be honest about that instead of trying to deny it.”
He wants young workers to consider his company a career accelerator, rather than a parking lot. That attitude has given Kapost a reputation as a career launchpad, Mr. Murdock said, and helps the company attract a stream of ambitious young candidates.
The next day I went on Varney & Co on Fox Business to discuss the topic. Here’s the clip:
There’s a lot more to say on the millennial topic. More to come soon.
You want your employees networking outside the company–even on the company dime and on company time.
This is a theme we explore in-depth in The Alliance. As a brief summary, we’ve prepared a new slide deck on why network intelligence matters, and how to set up programs to support it at your company. Check it out.
The coming labor shortage is being fought head-on by a new generation of talent innovators—Silicon Valley…
At LinkedIn, one of Setton’s former employers, the acknowledgment that employees won’t stay with the company forever starts before they even join and isn’t perceived as a negative. Kevin Scott, senior vice president of engineering at the company, based in Mountain View, asks an important question of every candidate he interviews: “What job do you want after you work at LinkedIn?”
“Part of the reason Silicon Valley companies are so successful is that they’re a recombination of people who have worked in multiple companies,” says Reid Hoffman, co-founder of LinkedIn and co-author of a new book calledThe Alliance: Managing Talent in the Networked Age.
“Historically, most companies don’t want to ask that question [what job does your employee want to have ,” says Ben Casnocha, an entrepreneur who co-authored the book with Hoffman. “But today your best people are not going to be lifers.”
Worth reading the whole thing.
Here’s a half hour interview I did on Andy Kaufman’s podcast about The Alliance. Near the end, David Foster Wallace comes up…
Having raved about Econtalk just the other month, and as a long time listener, it was a particular delight to be invited to go on the show and talk, with Reid and host Russ Roberts, about The Alliance and the history of LinkedIn. We also talked about whether you can explore the meaning of life while in the working world, and I predicted that the ethics of cognitive steroids will be hotly debated in the years to come. The show is an hour long.
The Alliance is on the New York Times bestseller list for the fourth straight week. Thanks for the support. If you’ve read the book, please leave an Amazon review.
If you work at a company and are thinking about how to implement the ideas in your organization, drop me an email and join the LinkedIn group.