Campaign/FTC disclosure:This is a sponsored guest blog post. I will receive compensation for this post. I only work with companies I feel have great products, services and offerings. In accordance with my blog disclosure statement, I will only work with and showcase products, events and/or companies I believe my readers will benefit from. I am not formally employed by Ultimate Software. All thoughts and viewpoints are created and written by Adam Rogers of Ultimate Software. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: Guides Concerning the Use of Endorsements and Testimonials in Advertising.
Image courtesy of Flickr.
Many Americans spend more time with their colleagues than they do with their families, so it’s not surprising that the strength of these relationships is important to job satisfaction. Trust, respect, and communication are vital aspects of a positive employee experience, but far too often, these critical factors are ignored or largely overlooked by organizations—perhaps partly due to the innate difficulty of tracking these metrics.
And how important is that trust, really?
Can I Trust You?
According to recent research, extremely. 9 out of 10 employees think trusting their direct managers is important to remaining satisfied at work, but less than half of employees actually do. An April SHRM study learned that respondents were not content with workplace trust levels, even when reporting high job satisfaction. And Rapt Media found more than a third of US employees feel like their companies don’t care about them at all—likely contributing to the 69% of respondents who said they’re either open to other opportunities or already seeking another job.
These statistics are concerning, raising red flags about productivity, retention, and everything in-between. Two-way trust is a crucial aspect of a stable, satisfying and successful work environment, but establishing and nurturing this within an organization can be difficult. Trust is certainly multi-faceted, at work as in life, but experts agree that communication is required, including transparency and responding to feedback. When implemented correctly, these communications tenets are valuable strategies.
To build a high-performing culture based on trust and communication, employers must effectively uncover their employees’ true feelings and respond appropriately. Many organizations currently rely on annual performance reviews, which can be quite valuable for assessing employee performance against pre-determined goals and objectives. But when it comes to obtaining quality feedback and insight into the employee experience, these infrequent evaluations almost always fall short.
Fortunately, technology has caught up with this significant need. Basic online templates evolved to sophisticated pulse surveys that can measure employee experience in real-time. In addition to yes/no queries and other quantitative tools, these innovative solutions can also decode open-ended surveys with exceptional accuracy. UltiPro Perception™, for example, uses advanced natural language processing and machine-learning algorithms to analyze text-based responses and identify key workplace themes, like trust, as well as the respondent’s underlying emotions.
This highly strategic tool can be effortlessly deployed at regular intervals to assess employee sentiment, either for the entire organization or filtered by location, position, manager, etc. Patterns emerge and business leaders receive real-time, actionable analysis and instant insights to improve trust, satisfaction, and retention within the organization.
These surveys allow leaders to measure how their employees feel about the hot-button topics frequently blamed for job dissatisfaction, such as family-friendly policies, growth opportunities, or job flexibility. Armed with data-based feedback about what matters most to their employees, executives have real power to evaluate and address pain points—building trust simultaneously.
For 46% of organizations surveyed in SHRM/Globoforce’s 2016 survey, employee retention was the #1 workforce management challenge. But it doesn’t have to be that way. By actively listening and responding to employees, it’s possible for organizations to solidify a culture of trust and communication—improving engagement, productivity, and retention in return.
Campaign/FTC disclosure:This is a sponsored product review. I will receive compensation for this post. I only work with companies I feel have great products, services and offerings. In accordance with my blog disclosure statement, I will only work with and showcase products, events and/or companies I believe my readers will benefit from. I am not formally employed by Ultimate Software. All thoughts and viewpoints are created and written by me. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: Guides Concerning the Use of Endorsements and Testimonials in Advertising.
In the HR industry, we spend a lot of time talking about the best ways to engage the people that work tirelessly for us. The thing that we often overlook in the engagement conversation is: “communication.” While that may seem broad, let’s explore a bit. How likely do you think your employees are to share their thoughts, ideas, and concerns at work? You may be thinking: “I have an open-door policy” or “we periodically send out employee surveys.” All of this is a great start, but I would argue that between your open-door policy, employee surveys, town halls, and overall company culture lays a tremendous gap between what you think you know and what your employees truly feel.
Why the gap?
Understanding employee voice requires that you understand the various inputs and ways in which employees communicate. Encouraging your employees to speak up is admirable, but not nearly enough. If asked, many employees will describe a sense of fear around offering up ideas, thoughts, and concerns, whether solicited or unsolicited. While this sentiment is often based on unfounded perceptions of the consequences of communicating freely, it is just as often rooted in experiences where feedback led to negative outcomes such as low performance ratings, indifferent behavior by management, isolation, and even termination as illustrated in an HBR article, “Can Your Employees Really Speak Freely.”
Case and point, employees are fearful of speaking up. In turn, that fear presents a challenge for organizations that are desperate to thwart turnover and other organizational maladies to better retain their workforce. According to a 2016 survey by Xerox, 53% of employers cite retention of top talent as an “organizational priority” for 2017. In order to retain your people, you need to have some insight into their ideas, intentions, and behaviors. The pathway to rounding-up that information isn’t exactly a simple science without some heavy lifting by technology. The reason for this is: Much of your intelligence around what motivates your employees is likely lying dormant as unstructured data fueled by performance evaluations, pulse surveys, exit interviews, internal communication tools, etc.
While all of this information is lying dormant, organizations are left vulnerable and in a state of inaction. Without visibility for situations and actions brewing under your nose, many organizations will continue to wonder why they can’t get ahead where employee engagement and retention is concerned.
Luckily for the HR industry, one of my favorite HR Technology companies, Ultimate Software, has gotten into the data game specifically to assist companies illuminating the true feelings and emotions behind employee responses.
Ultimate Software has a new solution called UltiPro Perception™. They were kind enough to allow me to ask them some questions about their solution and how it can help you. Here’s the scoop:
Help me understand how UltiPro Perception captures employee sentiment.
UltiPro Perception uses advanced Natural Language Processing (NLP) and Machine Learning (ML) algorithms to analyze open-ended responses within employee surveys. The solution’s sophisticated technology interprets text-based feedback to uncover the feelings and emotions behind employees’ responses. Leaders and managers can then assess the overall sentiment for individual employees, teams, or the organization as a whole. The solution also looks for repeated keywords to identify more than 70 workplace themes or topics, and over 100 emotionsbeneath the surface of employee answers.
Why is UltiPro Perception better than any other tool out there using sentiment analysis?
UltiPro Perception is uniquely built to analyze unstructured data and uncover not only what employees are saying, but also how they feel, about things like work environment, culture, and leadership. UltiPro provides managers with easy-to-understand, actionable insights that will have a true impact on improving employee retention and engagement.
Another key differentiator is that UltiPro Perception is part of UltiPro’s comprehensive HCM suite. Organizations can easily collect feedback from the right groups of employees based on location, supervisor, tenure, and more—essentially any data element within UltiPro. Most competitive tools have no or limited HRIS/HCM integration and lack enterprise-level requirements such as configurability options and proper role-based security. Other employee survey solutions typically require costly, manual processes or they rely solely on quantitative analytics, and therefore can’t give organizations a true understanding of employee sentiment before it’s too late to take meaningful action.
How does UltiPro Perception arm managers and organizations in being able to manage the Talent Management life cycle better (i.e. Recruitment through Succession)?
UltiPro Perception offers built-in survey templates to gather feedback throughout the employee lifecycle—from candidate, to new hire, engagement, post-learning, exit, and more. Surveys can be configured to automatically be sent once a specific work event occurs, such as a promotion or performance review.
Key driver analysis provides real-time, actionable metrics to help guide managers towards the most effective next steps. Combining these results with UltiPro’s predictive analytics tools and Leadership Actions, managers have powerful resources to support, coach, and retain their employees.
Regarding data and reporting, how simple is UltiPro Perception for HR practitioners new to sentiment analysis?
With UltiPro Perception, data collection, management, analysis, and the delivery of insights are all automated, with both standard and configurable reports available. Report-quality insights are delivered in plain English—no training required. UltiPro Perception’s easy-to-read, interactive reports are delivered immediately upon closing surveys, including the analysis of free-text responses. Reports are distributed based on the employee directory and can be tailored to individual managers or areas of the organization.
What are the long-term and short-term wins new customers can expect using this tool?
Short term—Organizations can immediately get a sense of how their employees currently feel about their work environment, leadership, and more. UltiPro Perception can uncover the organization’s strengths and key areas for improvement.
Long term—Organizations can utilize UltiPro’s workforce intelligence solutions, including UltiPro Perception, to uncover people challenges, predict outcomes, and recommend actions to drive better business results. Additionally, leaders can use historical benchmarking to assess how engagement scores are changing over time, in order to identify trends or patterns and determine long-term strategies to improve workplace culture and make better business and people decisions.
When will UltiPro Perception be available?
UltiPro Perception is currently available for purchase.
What is the approximate cost of the product?
UltiPro solutions are priced on a per employee, per month basis and costs various depending on a variety of factors, including company size.
Is there training or train-the-trainer opportunities available for organizations that need more?
Ultimate’s activation team guides all new customers through setup and configuration and Ultimate’s experts will also guide customers through executing and analyzing their first survey. UltiPro Perception is simple to configure and use, but if customers would like additional assistance Ultimate’s Services team will provide additional support to ensure customers are getting the most out of UltiPro Perception’s powerful survey and analytics capabilities. Ultimate also offers free learning resources for all organizations and their employees, including on-demand online training, webcasts, and more. Through Ultimate’s unique “People First” approach to customer service, all Ultimate’s customers have instant access to customer service experts, including a dedicated account manager and phone and online support.
You may be asking how you give a voice to the voiceless utilizing technology like UltiPro Perception. Here’s how you begin:
Audit your company culture to uncover both intended and unintended practices that may deter employees from openly sharing their feelings and thoughts.
Continue to find ways to include employees and their input in all aspects of your company’s operations
Ensure that there are simple and varied ways for your employees to connect and communicate with you.
Utilize sentiment analysis and machine learning technologies like UltiPro Perception to help you properly synthesize the valuable feedback you collect from your employees on a regular basis.
Make sure you are prepared to act upon the information you receive and make sure all levels of management do the same. It isn’t just about acquiring a solution like UltiPro Perception to help uncover this information. You actually have to be willing to make the necessary changes as needed to ensure your employees feel heard.
Organizations can no longer afford to ignore all of the data points available to them. Employees are communicating in a myriad of ways all the time. It’s time we start to listen to them.
Campaign/FTC disclosure:This is a sponsored product review. I will receive compensation for this post. I only work with companies I feel have great products, services and offerings. In accordance with my blog disclosure statement, I will only work with and showcase products, events and/or companies I believe my readers will benefit from. I am not formally employed by Lanteria HR. All thoughts and viewpoints are created and written by me. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: Guides Concerning the Use of Endorsements and Testimonials in Advertising.
One of the things that has bothered me from the very beginning with certain HR Technology solutions is the lack of flexibility. Sure, they all preach about how flexible their solutions are; but analysts who have been through their share of implementations can attest to a different reality.
We have been able to convince most of the HR industry that having technology to streamline and/or facilitate their internal processes has some substantial wins where both productivity and consistency are concerned. Now that we have their attention, it would seem that we need to meet them where their customer journey begins.
As someone who has worked in HR previously, I know that the customer journey towards purchasing HR Technology isn’t often a proactive decision; but rather a reactive decision that commonly results from several, separate, yet connected pain points with processes and/or home-grown systems. There are usually work-arounds for the work-arounds and systems that don’t speak to one another which causes inefficiency and frustration for those doing the work. When your solution arrives on the scene to save the day, the single, most impactful thing you can provide is a flexible solution.
Although there is plenty variation in customer needs, most HR professionals will agree there are some basic needs that can be extrapolated across our industry.
Here are a few of them:
HR professionals prefer a solution that is has the capacity to scale accordingly with business as it continues to grow.
HR professionals prefer a solution that is intuitive, can incorporate their company lexicon and doesn’t require a lot advanced training or thinking to utilize it.
HR professionals expect the solution to make their jobs easier.
Recently, I had the pleasure of getting an inside look into a solution I was unfamiliar with called: Lanteria HR. Lanteria HR is a global HR Management (HRM) solution best suited for mid-sized to large companies. They currently service companies with as little as 50 employees up to 20,000 employees. If you are an Office 365 customer/fan, you will love the way Lanteria HR integrates with SharePoint and the Office 365 product. Lanteria HR is a SharePoint-based system which means you will enjoy the personalization of roles as it integrates well with Microsoft Office. Lanteria HR prides itself on their ability to meet their customers’ configurations needs without expensive software customization.
Lanteria HR has 9 functional areas that you can utilize via the various modules delivered via the solution.
The functional areas Lanteria HR covers are: Core HR, Time & Attendance, Compensation, Recruiting, Onboarding, Performance Management, Learning, Succession Planning and Reports. You will find that each of the five modules in the solution allow for easy toggling back and forth without issue.
When it comes to user roles there are three within the solution. There are the Core HR users better known as “Super Users”. Then, there are the roles of “manager” and “employee”. Lanteria’s team can also create custom roles depending on your organizational structure needs. During my testing, it was great to simply change existing organizational charts; but also to be able to create new departmental and group-specific hierarchies as your organization changes and scales.
Learning & Development has a special place in my heart
With a natural focus on retention being prevalent in the HR sphere, technology that can facilitate the ongoing process as well as the roll-out of programs to a large number of people will become important.
In Lanteria HR’s Learning Development module, every employee has a development plan and profile. They have delivered reports that track L&D milestones. In addition, you have the ability to deliver and L&D training directly from the solution.
Types of training that you can have in this system are: E-Learning SCORM courses, Video, Homegrown Training Programs, MP4 files and/or links to training hosted on the internet (i.e. Vimeo or YouTube).
Where Succession Planning is concerned, I like that they focus heavily on career pathing, internal talent pools and delivering career goals at all three role levels through their dashboards within the module.
What does implementation look like?
Implementation for Lanteria HR is about 2-3 months from the time a contract is awarded. There are once a week meetings where you will meet with your assigned project manager and engineer. It is recommended that you have at least 1-2 people internally that can serve as your implementation team. All training is delivered remotely via the train-the-trainer method.
What do their Service Level Agreements (SLA) look like?
Lanteria HR allocates engineering time as part of your licensing package. Since your solution will can be hosted on-premises or delivered as a SaaS solution, you will either rely on your internal IT Team or Lanteria’s team for resolution of any technical difficulties experienced. Major updates happen 1-2 times a year. Lanteria’s support team troubleshoots technical issues when they’re related to Lanteria HR. If you experience issues with SharePoint, it should be resolved by your SharePoint administrator, IT team or anyone who manages your SharePoint.
What about pricing?
Lanteria HR charges per license/module. All fees for licenses include the cost of the license and implementation. Prices will vary as they serve customers internationally. You will need to contact them to be properly priced-out based on your company, team and needs.
All in all, if you are looking for a solution that has the capability of being delivered on-premises or in the cloud; with greater flexibility, personalization and control over your next HRM solution Lanteria HR is worth a look. It is simple, does all of the things that we as HR practitioners need to do in a day, plus has some extras that can help us drive the proper messaging and programming around Recruitment, Retention and Succession Planning.
Want to see the latest version of Lanteria HR? Check out there short feature tour here.
Get know Lanteria via their product overview below:
Campaign/FTC disclosure:This is a sponsored product review. I will receive compensation for this post. I only work with companies I feel have great products, services and offerings. In accordance with my blog disclosure statement, I will only work with and showcase products, events and/or companies I believe my readers will benefit from. Dun & Bradstreet has hired me as an influencer to help them raise awareness about their new Business Solutions Insights Microsoft Office 365 partnership with Ingram Micro Cloud. I am not formally employed by Dun & Bradstreet. All thoughts and viewpoints are created and written by me. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: Guides Concerning the Use of Endorsements and Testimonials in Advertising.
Image courtesy of www.dnb.com.
Big data has long been a debilitating term in the business world.
When it comes to business, we all would prefer to make better, more informed decisions. In order to achieve this, we have to collectively become comfortable with the notion of being data-driven. Making data-driven decisions has little to do with how “big” your data is, but rather how you make the data that you collect every day through transactions, interactions and prospecting work for you.
For many companies – be they Fortune 500 or small businesses – this data and information is often unstructured. This information both lives and dies in different systems, processes, and in some cases, people within organizations.
The key to being able to use this information to the advantage of the business is to aggregate all of your business insights simply in one place for anyone in the organization to use.
I had a unique opportunity to chat with my friends at Dun & Bradstreet® to discuss their recent participation at the Ingram Micro Cloud Summit held last week in Phoenix, Arizona. I also had the opportunity to get an exclusive demo of their new Business Solutions Tool for Office 365 available via the Ingram Micro Cloud Marketplace®.
Image courtesy of IngramMicro.com.
Big data is not so big – when you break it down.
One of the recurring questions about big data is: What makes it so complex? In speaking with Karlos Palmer, VP of Global Alliances and Partnership Strategies and Nakul Kapoor, Senior Director of Partner Enablement at Dun & Bradstreet, they break down the complexity of data into what they call the four Vs of big data:
Volume – The scale of data. This is how much data you have stored and living across your business.
Variety – The many different forms of data. From demographic information to customer profiles, the range of data you collect is both useful and innumerable.
Velocity– The analysis of streaming data. With the connectivity of things growing every day, there is a constant flow of data streaming at all times. Dun & Bradstreet® reported at last week’s Ingram Micro Cloud Summit that there are as many as 18.9 billion network connections (2.5 connections per every person on earth).
Veracity– The uncertainty of data. Unreliable data is costly to your business. It has been reported that poor data costs the U.S. Economy around $3.1 trillion per year. Somewhere along the data continuum, there has to be a cleansing of your data to be able to use it effectively.
The businesses that have yet to implement an operational call-to-action for data struggle in one of more of these areas.
As a small business owner, I understand the value of making decisions rooted in good data. What prevents me from exploring my options is my concern for how much it will cost me to implement a solution and the ease of use.
After seeing the demo of Dun & Bradstreet’s Business Solutions Add-in for Office 365, I am excited about the possibilities this product holds for small to mid-size businesses to make more insightful, data-inspired decisions.
Less is truly more.
Think about how you have traditionally created reports in Microsoft Excel® and imagine even the smallest sets of data reconciled with Dun & Bradstreet’s insights – only to give you more valuable information than what you started with.
Here’s how the Dun &Bradstreet Business Solutions Tool works:
Dun & Bradstreet has accumulated a collection of data around sales, marketing, supply chain and credit risk that spans its 175-year old history.
They have created an add-in in the Ingram Micro Cloud Marketplace that can be used with your Microsoft Office 365.
Through your normal reporting in Excel, you can take something as simple as a spreadsheet with name, email, and address – and have Dun & Bradstreet run your information against its over 30,000 sources.
What you get depends on which of the nine modules you use across sales, marketing, supply chain and their advanced data tools are insights like:
– Understand Your Customers™ module – this module allows you to bring in a minimal amount of data points and in return gives you insights on your customer’s history, market behavior, etc.
– Get Prospects List™ module- this module allows you to search your customer list and get a targeted view of customers you should be meeting with when you go on the road for meetings and conferences, etc.
Your data is now reliable because it is driven by Dun & Bradstreet’s D-U-N-S Number® that connects demographic information with just about everything a single business does over the lifetime of their business (credit standing, sales and marketing, industry, years in business, business hierarchies, etc.).
All of the segmentation and data cleansing is done for you. Every record comes back with a rating for Dun & Bradstreet’s success in matching your record with their sources.
How much will it cost you?
This is my favorite part. The Dun & Bradstreet Business Solutions add-in is available to us with a minimum investment of $25.00 per month (note: The price may increase if you have to purchase the Microsoft Office 365 suite as well). However, if you are already a Microsoft Office 365 customer, you can simply download this free add-in and enable it by depositing increments of $25.00 into your Dun & Bradstreet Business Solutions account.
Every time you run a module, the product will draw from your existing balance. Most queries charge $0.75 per record or per list of 25 records.
How can you get it?
Dun & Bradstreet’s Business Solutions Insights for Office 365 can be purchased in the Ingram Micro Cloud Marketplace by clicking here. You can also purchase it through any Ingram Micro Cloud reseller.
Enterprise quality solutions are now available for SMBs. This is an exciting step in all of us becoming data-driven inspired business owners.
To read the press release regarding Dun & Bradstreet’s partnership with Microsoft Office 365 and Ingram Micro Cloud click here.
Campaign/FTC disclosure:This is a sponsored post. I will receive compensation for this post. I only work with companies I feel have great products, services and offerings. In accordance with myblog disclosure statement, I will only work with and showcase products, events and/or companies I believe my readers will benefit from. IBM has hired me as a brand ambassador for this campaign because of my participation in the IBM New Way to Work Futurist Influencer Program. I am not formally employed by IBM. All thoughts and viewpoints are created and written by me. I am disclosing this in accordance with the Federal Trade Commission’s16 CFR, Part 255: Guides Concerning the Use of Endorsements and Testimonials in Advertising.
Image courtesy of IBM.
As a philosophy enthusiast, I have always loved Rene Descartes’s take on the existence of things which is: “I think, therefore I am.” He believed the only way we could be certain that we exist is when we are thinking. Given the nature of the rapid advancements of our time, I believe he would be certain that we exist just by the sheer numbers of inventions that have cropped up over the last decade.
What if we switched up his quote a bit to say: “I create, therefore I am.” In the context of 2015, wouldn’t it be fair to say that people who create products, businesses, art, music, and even content have infinite existence and visibility by virtue of what they create. Whether or not the things they create are successful doesn’t much matter. The very act of creating something is an extension of their existence as a human being. In many cases- what they create has a lasting effect and impact long after the creator is gone.
These lasting effects are footprints that ensure that future generations have blueprints (some unfinished) that peak curiosity and fuel invention and innovation for a long time to come. This is how it has been and so it will continue in the future.
When we look back at this time in history, it will mark rapid advances in technology and innovation. It is a time ripe with opportunity for anyone to create something new and/or improve something that could be better. In retrospect, we may question anyone who failed to create anything useful during this period. Yes, you have to have an idea, plus a plan and the audacity to believe in your ability to have an impact- but how can you not be inspired to create something with so much innovation and necessity at play?
To be a creator doesn’t mean you need to be building multi-million dollar companies. It can be as simple as creating something that solves a problem for one person. For that matter, you may even create something that improves your own quality life. It would be self-serving, but at least you created something. Let’s take a broader look at the art of creation and this period of time in our history. There are still unperfected technologies, deficits of basic resources like clean water and adequate food in many countries around the globe; as well as socio-economic catastrophes that seem never-ending.
If you can sit back and watch all of these human and technological conundrums continue into the next century without recognizing what your part in it is- that is disappointing. The only way we continue to exist is by creating things that are needed and keeping the innovation going. I am often asked what the most important aspect of the future is. My answer is always: “the people” or “humans”. We have the ability to change it all.
This is why I am so honored and excited to be attending the upcoming TED@IBM conference in San Francisco on October 15th. I am in a state of constant creation, but I am always eager to be fed new perspectives, ideas and inspiration that in turn inform everything from how I live my life to how I run my business. This year’s theme is “Necessity and Invention”. Each of the speakers touches on some aspect of the human experience by discussing a “need” or “an invention” that will impact us all.
To see the agenda, lineup of impressive speakers and register for this event, visit IBM.com/TED for more information. In addition, I will be live tweeting from this event and expect there to be lots of live content being streamed during the event. To keep up with the latest and greatest during the conference, follow the #TEDatIBM hashtag.
Campaign/FTC disclosure:I will receive paid sponsorship for promoting this campaign. I only work with companies I feel have great products, services and offerings. In accordance with my blog disclosure statement, I will only work with and showcase products and/or companies I believe my readers will benefit from. This opportunity was made possible because of my participation in IBM’s #NewWayToWork Futurist Program. I am not formally employed by IBM. All opinions are my own. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: Guides Concerning the Use of Endorsements and Testimonials in Advertising.
Image courtesy of IBM.com
There isn’t a week or month that passes where you don’t have the bad fortune of coming across a doom and gloom article about Millennials. If experts aren’t warning us of the demise of the workforce as we know it – they are busy labeling an entire generation of people as being needy, lacking work ethic, technologically savvy and many other half-truths that seem to be fodder for the usual generational conversation.
With our workforce slated to be infused with a 75% millennial workforce by 2025, it is clear that we either need jump on the millennial bandwagon or move out of their way. This generation has learned well from previous generations. They know what they want and will not settle for anything less. Call it “obnoxious” or “entitled” it doesn’t much matter. The point they drive home is that we all have a purpose- we just need to find it and execute.
If we are to believe any of the stereotypes, the millennial-led startups in IBM’s #NewWayToStartUp competition will certainly provide a different lens for this often misunderstood generation.
What is the #NewWayToStartup Competition?
It’s easy to say we support innovation but what are we actually doing about it? IBM has taken action to foster innovation by creating a startup competition of ten millennial-led companies that are focused on social good. They invited one member from each startup to SXSW in March to pitch their venture to an expert panel. Ten startups pitched their companies whereby five startups were eliminated.
The remaining five teams went on to participate in a week long accelerator that included daily challenges and granted them the a year’s access to IBM’s Watson Analytics and their newest software, IBM Verse.
The progress of the startups is documented in webisodes that have chronicled their participation since the pitch event at SXSW.
The grand-prize winner of the competition receives free entrance into TED@IBM for up to three team members.
If the prize sounds cool- you will be equally impressed with the actual companies and founders.
Putting good things back into the world
If you’re going to go to the trouble of putting in the hard work, blood, sweat, tears and sacrifice that is synonymous with entrepreneurship, why not create something that benefits everyone? This is the kind of innovation and creativity that IBM is trying to foster through the #NewWayToStartup competition. Each of the five companies have founded their companies on the premise of being helpful and putting something good back into the world. After watching all of the webisodes, I was inspired. It left me feeling like the world may have a chance – if we have founders and companies like the ones I’m about to describe.
Being under the pressure of strict deadlines and the lens of some of the greatest minds in business is nerve-wrecking. Anyone who has ever pitched their company or has been a spectator of a pitch competition would know how that feels. Bravery comes to mind when I think about how vulnerable you feel as a founder sharing your idea with the world. At a minimum, they should all be applauded for taking a chance on themselves and their companies.
If you think I’m pulling your leg about the greatness of these startups, here is a short description of what each company does. I dare you to not feel inspired by what these millennials missions.
The Lassy Project– gives parents the ability to notify an entire local community about a missing child in seconds. They use a combination of community, data, and technology to create a new global standard for personal and public safety.
Owlet Baby Care-is a wearable infant monitor that can alert parents if their child’s heart rate or oxygen levels are in a dangerous range. They are caring parents who want to usher in a future where, just like a car seat, every baby comes home with a wearable health monitor. A future where there are less infant funerals, and more empowered parents.
Sproutel– makes health and wellness a playful part of everyday life. Their first product, Jerry the Bear, is an interactive learning companion for the 18% of children with chronic illnesses that combines animated content with an electronically enabled stuffed animal.
Stretch Recipes– is an app developed to help everyone eat better and save more by building an amazing app that will help empower people who are stretched for time, energy, resources, and knowledge to enter their budget, choose their meals, and automatically get their shopping list and coupons.
Charity Charge– is a platform to help customers create positive impact each time they make a purchase. Their first tool is a credit card enabling customers to donate 1% cash-back earnings to charities and organizations of their choice.
As a parent, I was immediately moved by ‘The Lassy Project’ ‘Owlet’ and ‘Sproutel’. The worst thing in the world that can happen to a parent- is to have a child go missing. The Lassy Project makes notification simple and quick by notifying networks of loved ones and friends-with the ability to escalate to authorities-if need be.
Two years ago my youngest daughter became ill with a bout of Pneumonia and we nearly lost her. A product like ‘Owlet’ would have been extremely helpful in our initial assessment of her condition. Not to mention that this has the ability to rid us from anymore sudden infant death cases.
With regard to ‘Sproutel’, who doesn’t love a cute teddy bear? It is beyond cool that children with chronic illnesses can have a friend in Jerry The Bear- while also learning more about their disease.
Both ‘Stretch Recipes’ and ‘Charity Charge’ have great promise, as we are in a time where every penny and minute counts for so many families. They are saving people time and putting customers money to work in beneficial ways.
As I mentioned in the beginning, so much of what you hear about millennials is negative. These millennial-led companies are doing what they love while adding to the greater good. In fact, the team at Owlet has taken lower salaries just to see this venture through. This is the kind of passion and sacrifice that awakens the senses and creates engaged workforces. I will wager, that we can all learn a great deal from these founders.
Whether you work for someone or for yourself, it is a necessary practice to ask yourself – if you are:
1) Being of service to others.
2) Working with a purpose in mind.
3) Passionate about what you do?
In Webisode 3, I love the talk the Mayor of Austin, Texas has with the founders. He mentions to them that what they are doing is not an academic exercise. He emphasizes the importance of failing quickly and creating something great in the world. This kind of advice is completely contrary to the advice fed to previous generations. With several generations in the workforce at once, it is no wonder there are misunderstandings and disconnect among the generations.
How much more productive and cohesive could we be as a workforce if we became comfortable with failure? In this webisode, you come to understand that failure is not a negative, but a necessary stepping-stone towards success.
Who will win?
Social voting is going on and ends today. The winner will be chosen on July 1st at 1-2pm EST. I won’t dare make a prediction. The original 10 were great and certainly the final five are all fantastic.
Call me a nerd, but this is the sort of reality television I could get used to. These founders are tackling some of the most important problems of our time. The reach and magnitude of what they are developing has the ability to change lives and the world. IBM should be applauded for giving these innovators the spotlight to share their gifts and passion with us all. This competition has the ability to not only inspire younger children to start their own businesses, but to inspire older generations to create the business they have been putting on the backburner.
The workforce is beginning to look very different- which may scare some. I prefer to get excited about the future. There is definitely something different about millennials, but it isn’t bad. They see the world differently than most generations. At the core of who they are, they care about others and are dedicated to creating the kind of society that favors everyone. On that sentiment alone, I have a renewed sense that the future for my children is bright because millennials are on a mission to make the world better one startup at a time.
Join me in supporting these impressive men and women, by watching the entire webisode series. You can check out the pitch competition below- along with links to all of the subsequent webisodes.