The Future of Work Podcast With Jacob Morgan | Futurist | Workplace | Careers | Employee Experience & Engagement | (millennials)

Join this week’s podcast as I talk with Doug Waggoner, the CEO of Echo Global Logistics, about what Millennials want, how to manage them, how to adapt to this new workforce and some common misconceptions people have about Millennials.   

Doug Waggoner is the Chairman and CEO of Echo Global Logistics, a non asset based trucking company. Echo Global Logistics carries out about 14,000 shipments per day. They have 2300 employees in 30 offices across the country and 70% of the company is made up of Millennials.  

There are a lot of stereotypes and preconceived notions these days about Millennials and how they work. A lot of times people assume Millennials are lazy, spoiled, and they feel they are entitled. As someone who hires a large amount of Millennials, Waggoner feels that the stereotypes are not always accurate and they come from a misunderstanding of this generation.  

Waggoner says Millennials “don’t want anything everyone else doesn’t want, they’re just not afraid to ask for it” and that ability to ask for what they want comes from the values this generation has been taught. Waggoner believes Millennials are confident, authentic and they want opportunity and transparency.  

So how does Echo Global Logistics attract Millennials? They mainly send recruiters to college campuses to recruit newly graduated talent. The company understands what Millennials are looking for and what they want in a job. Waggoner believes that some of their biggest selling points to Millennials are their office locations, the unique office space set ups and their corporate culture. One of their main offices in the River North area of Chicago is located in a 100 year old distribution warehouse that has been modernized. They have floor to ceiling windows, an open work environment, a coffee shop and TVs all around the office.  

Their corporate culture is built on five main values, called the Echo Way. The five values are: Better is the only way, carry the load together, work hard and hustle, do what’s right and bring your own. They promote teamwork, making ethical decisions, working hard and always improving as well as being self motivated. They also use awards and social media recognition programs to frequently reward employees for carrying out the Echo Way values.  

Waggoner says his company is constantly listening to employees and having open conversations about what they are looking for, however it is a balancing act. It is important to listen to employees about what they are looking for, but it is “not just about bending to every will of the employee”.  Echo uses focus groups, surveys, committees and an internal podcast to learn about their employees’ wants and needs. However, with most of the company’s new hires coming right out of college, Waggoner says “we have to train new hires how to be employees”. They have to train them how to have realistic expectations, how to be responsible, and how to work hard as a large number of them have never had a job before.   

They say that by 2020 70% of the workforce will be made up of Millennials. So what can company leaders do now to be prepared for this shift? Waggoner advises company leaders to accept the fact that the world is changing and don’t resist it. He says, “you will become irrelevant if you don’t adapt”. You have to “do away with bureaucracy. Be honest, transparent and keep it light and fun”. Waggoner brings up the fact that ultimately you have to remember that as Gen Xers and Baby Boomers, you raised the Millennial generation and you are the reason they are the way they are. Therefore you have to deal with that now.  

What you will learn in this episode:

  •  How the workforce would look if we didn’t have any millennials  
  • Career paths and what the Millennials actually care about 
  • All about Eco Global Logistics and how they have used the hearts, minds, passions and dedications of Millennials to build a cutting edge organization 
  • How to build a company with millennials 
  • How to manage millennials 
  • Some misconceptions about millennials  

Link From The Episode:

Echo Global Logistics

Direct download: Doug20Waggoner20Podcast_fixed.mp3
Category:Millennials -- posted at: 11:02am PST

Bask Iyer is the chief information officer of VMware and serves as the company’s senior vice president. Prior to VMware Bask was the chief information officer for Juniper Networks and held the same position at Honeywell and GlaxoSmithKline Beechcam. He is an industry veteran with more than 25 years experience within the Silicon Valley based technology firms and more traditional Fortune 100 manufacturing companies.

VMware was founded in 1998 in Palo Alto and is a global leader in cloud infrastructure and virtualization software services with approximately 20,000 employees and 6 billion in annual revenues but they manage to retain that “start-up” feel. With that in mind VMware strives to stay on top of the latest technology “wave” and to do that you need talent, the right talent. More to the point with today’s technology and millennial talent: “Yesterday’s news wraps fish”, what you did last year doesn’t matter today. So VMware and Bask are constantly changing with the times and needs to recruit and retain great talent.

The best talent asks “Why am I here?”, they don’t settle and they want to change the world. To keep this talent, you must have the assignments to capture their ambitions, you have to keep the organization’s innovation continuing to grow and change. Simple tricks such as a ping pong table, free food or a great cafeteria will not keep the talented millennials with your organization because they are not learning and growing with these “shiny perks”.

 

What you will learn in this episode:

  • Why Millennials – Why Does The CIO Care About Millennials?
  • What Is It Like To Work At VMware?
  • Shiny Perks – Is That All You Need To Recruit And Retain Millennials?
  • Multi-generational Work Force
  • What Millennials Care About and What’s Important To Them
  • How Millennials Are Shaping Tech Decisions

Link From The Episode:

Bask Iyer on Twitter

Direct download: bask20iyer20podcast_done.mp3
Category:Millennials -- posted at: 8:15pm PST

Jessica Mah is the founder and CEO of inDinero, one of the bay area's hottest companies. We met in Israel in 2009 when Jessica was just getting started building the company's software with her computer science background. Today, inDinero has 200 employees across 5 locations. Their purpose is to help businesses with accounting and taxes, like an outsourced finance department. One of Jessica's goals for her organization as it expands is to handle growth gracefully and retain culture along the way.
 
One thing that sets inDinero apart from other companies is their interesting and unique talent practices. Jessica coined ABF talent as a way of rating team members and their performance. A employees are ones that she would enthusiastically rehire given what she knows about them today. B employees are ones that she might rehire but need to show improvement. These team members are put on a program to enhance their performance. Then at the end of the quarter, they will either be fixed or be fired. Jessica is a firm believer that harboring mediocrity is not conducive to good results. Her ranking system has proven very successful in transforming B players into A players.
 
Another unique practice at inDinero is that they do not use e-mail internally. Instead, they converse via group chat rooms and messengers. This prevents employees from being held hostage in group email threads that unnecessarily fill up their mental bandwidth. All of the executives also use a special calendar grid that is tailored to the way that they want to spend their work week. This helps reduce stress and increase productivity. inDinero has a distinct hiring process to improve the odds of successful hiring and they also have high employee referrals. Jessica attributes much of the organization's growth and triumph to their values, such as radical candor and transparency. 
 
What you will learn in this episode:
  • ABF framework
  • inDinero's culture committee
  • Crowdsourced culture book for employees 
  • Calendar grid for scheduling
  • inDinero's e-mail policy
  • How Jessica deals with recruiters trying to poach employees

Link From The Episode:

Indinero Blog

Jessica Mah on Twitter

Direct download: Jessica20Mah20Podcast_DONE.mp3
Category:Millennials -- posted at: 10:55am PST

Episode 1 explores millennials and the impact that they are having on organizations and the world in general. New York Times best-selling author and Gen Y expert Dan Schawbel is the featured guest who shares his perspective and advice for millennial employees and those working with millennials. We explore things such as generational stereotypes, how to manage millennials, recruiting and retaining millennials, generation Z (the next generation after millennials), collaboration, and much more!

Direct download: completed_Dan_Podcast.mp3
Category:Millennials -- posted at: 4:51pm PST

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