As usual, Gavin, Sibongile, and Soji open the show with some HR updates from around Africa; we then moved to productivity/profitability on the topic ‘Cultivating a growth mindset: Encouraging loyalty from a younger workforce ‘ our guest is Rob Jardine – Head, Research and Solutions at The NeuroLeadership Institute South Africa. On HR chat, we spoke to Mandisa Nyathikazi, Executive director of ATI on the subject of Africa’s latest scarce skills and the roles of Artisan Training Institute. Finally, of policy and compliance, we spoke to Jennifer Barkhuizen, Head of Communications for Managed Integrity Evaluation and we asked if you serving yourself and your potential employer honestly?
2018 Deloitte Millennial Survey reflect a very different reality, where most companies are viewed as failing miserably at fulfilling their societal and ethical roles and are seen as being solely motivated by profit. This is quite worrying, especially as millennials are considered to be the largest generation ever to enter the workforce and are now taking up positions of influence and leadership within businesses.
Inspiring millennial loyalty through continuous learning opportunities
One of the ways that organizations can encourage millennials to be loyal to them is through ensuring that they are regularly given opportunities to stretch themselves. Forty-eight percent of this generation put opportunities for continuous learning as an important item on their ‘Ideal Company to Work for’ Wish List. In addition, 81% of millennials believe that continuous professional development and self-paced learning will ensure they perform at their best in their job and keep pace with the changes that the Fourth Industrial Revolution will continue to bring. However, a mere 36% of millennial respondents believed their employers were helping them prepare for this evolution.
How the growth mindset can be a differentiator for employers
The challenge remains, however, that traditional learning environments and organizations place an emphasis on the fixed mindset, and it is this belief that informs how we traditionally hire, fire, and reward talent within companies. With a fixed mindset, companies often focus on looking smart, acting like a natural, and ignoring difficulty. However, when companies adopt a growth mindset, we know that our ability can be developed, so we focus on working hard to learn and learning from mistakes. Organisations that can foster a growth mindset can expect higher levels of engagement, resilience, innovation, and performance.
Taking the growth mindset past the Fourth Industrial Revolution
Millennials and Gen Z believe that companies are not doing enough to prepare them for the Fourth Industrial Revolution and a significant number of them plan to leave their companies as a result. If more SA companies can join larger corporates, such as Microsoft, in applying a growth mindset in terms of how we recognize and develop our talent, we will be better prepared to navigate change and uncertainty. This is because it conveys the message that we are all – both businesses and employees – learning and developing. It is only this continual development that will enable our success and survival – both businesses and employees – past the Fourth Industrial Revolution.
Trading Economics’s May 2018 statistics peg South Africa’s unemployment rate for this year’s first quarter at 26.7%, with the number of unemployed increasing by 100 000 to 5.98 million. These numbers are worrying, as this means that the country’s unemployment levels are at their highest in almost 15 years. Of the almost six million unemployed, the country’s youth are the most affected. With an increase of 1.6%, 58% of South Africa’s youth population is now unemployed.
It is, therefore, crucial that the youth is made aware of viable future vocations. According to the Artisan Training Institute (ATI), the current industry shortage of skilled artisans offers an alternative and often an even more secure choice as a career path than securing a university degree.