Date post: | 23-Feb-2017 |
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Leadership & Management |
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PAY IT FORWARD:MENTORING OUR FUTURE LEADERS
November 14, 2016
Rebecca ZinnDirector, Marketing & Business Development Assistant Professor, Marketing
TL Hill, PhDManaging DirectorAssociate Professor, Strategic Management
Fox Management Consulting | Temple University 2
Fox Management Consulting offers research-intensive, actionable consulting services to clients across the globe.
RECENT RELEVANT ENGAGEMENTSCLIENT: FORTUNE 50 MEDIA COMPANYTalent retention strategy designed to reduce turnover among a segment of the firm’s workforce.
CLIENT: FORTUNE 100 FINANCIAL INSTITUTIONMarket research & insights on “new to credit” segment, focusing on people under 35.
CLIENT: FORTUNE 500 FINANCIAL SERVICES FIRMMarketing strategy designed to engage 18 – 24 year-old college students.
CLIENT: $2.5 BILLION NONPROFIT HEALTHCARE ORGANIZATIONDonor development strategy designed to engage younger donors by expanding use of digital technology and social media.
CLIENT: $1.2 BILLION INSURANCE + RISK MANAGEMENT FIRMNew business strategy focused on prospective young adult customers.
Fox Management Consulting | Temple University 3
In a recent survey, young professionals cited a “thriving job market” as the most important quality of a city.
SOURCES: “Survey Says Millennials Want To Live In New York, Research Suggests They Should Live In Philadelphia.” Forbes. June 13, 2016; “Living the Millennial Dream.” Adobo.com
TOP CAREER GOALS, ACCORDING TO 2015 SURVEY CONDUCTED BY IBM
Make a positive difference at place of employment
Help solve environmental and social challenges
Work with a diverse group of people
Work for an organization among the best in industry
Find passion in work
Become a senior leader
Achieve financial security
4
PHILADELPHIA IS THE MOST DESIRABLE CITY.The same survey suggested that Philadelphia offers a majority of the qualities that young professionals cited as important. And, in fact, offers more than any other major city in the United States.
• Thriving Job Market
• Affordable Housing
• Good Pizza!
• Walkable
• LBGTQ-Friendly
• Quality Public Transportation
• A Nearby Lake, River, or Beach SOURCES: “Survey Says Millennials Want To Live In New York, Research Suggests They Should Live In Philadelphia.” Forbes. June 13, 2016; Adobo.com
5Fox Management Consulting | Temple University
29%
71%
Philadelphia PopulationAges 18 - 34 Ages 35+ 120,00
0 BETWEEN 2005 & 2015, NUMBER OF NEW RESIDENTS, AGED 20 - 34
2/3 OF “NEWLY ARRIVED” RESIDENTS
SOURCES: 2015 US Census Data; “Young Philadelphians.” Philadelphia Business Journal. July 21, 2016.
Fox Management Consulting | Temple University 6
As a business community, we have an opportunity to invest in the future by cultivating leadership within our organizations.
A THRIVING CITY
PROFITABLE ORGANIZATIONS
IMPACTFUL INDIVIDUAL CAREERS
Fox Management Consulting | Temple University 7
How do we get there? Because recent research is quick to point out disconnects between young professionals & their employers.
64%OF YOUNG PROFESSIONALS EXPECT TO LEAVE WITHIN 5 YEARS
SOURCE: 2016 Millennial Survey. Deloitte.
LEADERSHIP DEVELOPMENT
CAREER ADVANCEMENT OPPORTUNITIES
A CLEAR PATH FORWARD
SENSE OF MAKING A DIFFERENCE
Fox Management Consulting | Temple University 8
Let’s build bridges to address these disconnects – whether real or perceived.
TABLE DISCUSSIONSCONVERSATION TOPIC 1In your organization, what are the opportunities for leadership development & growth for young professionals?CONVERSATION TOPIC 2Young professionals: Do you have a “wish list” of opportunities? Are there organizational dynamics that might be helpful to change? Mentors: What are your expectations of successful young professionals in your organization?
CONVERSATION TOPIC 3As a table, identify 2 top priorities for cultivating young professional leadership within an organization. For each, propose one way to bridge the gap.