CEOs, Company Culture and Crain’s

Ask nearly any CEO, and s/he will tell you that creating and maintaining the “right” culture is a key part of a successful company. That idea was reiterated repeatedly when I had the pleasure of being part of a panel for a breakfast, presented by Crain’s Chicago Business, last week. Our panel was comprised of four CEOs from middle market companies, representing a variety of industries.

The topic of company culture kicked off the discussion when our moderator asked us about the challenges we faced to maintain growth at this stage in our respective company’s development. Often, growth makes it challenging to maintain and extend culture. And that’s a big deal because culture is an indelible component of who we are as companies, and the fact that culture plays a key role in retaining good employees. While there are many factors that play into someone’s decision to stay at or leave a company, culture is a key influencer.

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Millennials and the Multi-Generational Workforce

Millennials (those born between the early 80s and early 2000s) are now the largest living generation in the United States. According to Pew Research, in 2016 there were 75.4 million Millennials in the U.S.

And that means Millennials are becoming a larger and larger percentage of our workforce.

A recent post in Becker’s Hospital Review, discussed ways of engaging Millennials as part of a multi-generational workforce. The author, Michael Dowling points out that “it’s critical that we work extra hard to understand how the younger generations think, what motivates them, how they behave and how they prefer to communicate.” He goes on to warn that leaders who are not mindful of the work styles and ways to engage Millennials will have difficulty retaining this huge segment of the workforce.

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