Playing Well Together in the Sales and Marketing Sandbox

By: Tom Rosella
Topics:  BioPharma, Transformation, Sales and Marketing, Customer Centricity
Date: June 2015
Publication: Healthcare Sales + Marketing (HS+M)

The integration of sales and marketing has long been the challenge facing the industry. There are numerous examples of connected, collaborative and cohesive sales/marketing successes. Given the changes in the U.S. healthcare environment, we wanted to explore what’s happening in the current landscape to see how these two functions are facing the challenges. I’m happy to welcome a diversity of voices to the table.  Our panel includes people who bring varied experiences and viewpoints to this topic.

To continue reading this article as it appeared in HS+M, please click here

R&D Portfolio Management: A Disciplined Approach to Unlocking Value

By: John Cassimatis and Dan Patrick
Topics:  R&D, BioPharma, Transformation
Date: May 22, 2015
Publication: Pharmaceutical Compliance Monitor

As the Biopharma industry continues to go through significant transformation there are many core capabilities that Biopharma companies must have. But perhaps none is more important than the ability to effectively discover and launch new products. There are many key milestones that a successful biopharmaceutical company achieves during its journey from a start-up to a vertically integrated company.  Some are externally visible, such as discovering a breakthrough new molecular entity (NME), shepherding the NME through late-stage development, receiving approval from the Regulatory Authorities, and launching a new drug.  Other milestones are more subtle internal indicators of a biopharma’s capabilities and progress down its maturity curve as an organization.

To continue reading this article as it appeared in Pharmaceutical Compliance Monitor, please click here

How An Annual Plan Can Help Your Small Business Grow

By: Rhonda Abrams, Featuring Joy Taylor
Topics: Small Business, Strategic Planning, Growth Strategy
Date: May 5, 2015
Publication: USA TODAY

“You can’t reach a goal you haven’t set.” During Small Business Week, I’m helping you “Make This Your Year to Grow.” If you want to grow, one of the most important steps is to develop a plan for growth — and then make planning an ongoing process of your company.  Now, don’t get worried that I’m going to make you sit down and write a long, detailed business plan. It’s the PLANNING, not the PLAN, that’s important. The planning process itself brings you the biggest benefits — examining your business, figuring out what’s profitable, identifying threats and opportunities, making decisions.

To continue reading this article as it appeared in USA TODAY, please click here

Innovation Saturation: Is It Easier or Harder to Innovate?

By: John Collins
Topics: Innovation
Date: May 5, 2015
Publication: Yahoo! Small Business Advisor, #fnews, Business2Community

Innovation Saturation – Is It Easier or Harder to Innovate?  Whether it’s in medicine, computing or communications, we’ve become accustomed to the increasing pace of innovation.  So, at a time when new and often disruptive technologies seem to be appearing every day, is it getting easier or harder to innovate?  In business, innovation is the practice of taking new ideas and turning them into a product or service that has a perceived benefit that both new and existing customers will buy. Innovation is more than a ‘nice to have’. It’s a necessity to maintain a competitive advantage. But the cost of exploring new ideas and productizing them can be high, and as a result, organizations are constantly forced to balance the expense of innovation with the potential rewards.

To continue reading this article as it appeared in Yahoo! Small Business Advisor, please click here

An Executive Perspective on Change: Bridging the Gap Between Corporate & the Field

By: Sondra Leibner
Topics: Change Management, Executive Leadership
Date: April 23, 2015
Publication: Business2Community

Executives who have found themselves in charge of leading change in their organizations have learned that these assignments have the ability to define a career.  Leaders who successfully implement these sorts of change initiatives do so by using three not-so-obvious components of engagement and implementation.  When a leader is asked to lead a change, they need to ask themselves if they truly believe the change is right for the company at this time. Engaging in thoughtful, provocative and difficult conversations before committing to lead a change is critical. If a leader lacks authenticity in their words and actions, it will be obvious and people will react accordingly.

To continue reading this article as it appeared in Business2Community, please click here

Leading and Listening – On Your Way to Expertise

By: Joy Taylor
Topics: Leadership
Date: April 6, 2015
Publication: Enterprising Woman Magazine

Recently, I spent some time with a few friends who happen to be female CEOs.  The topic of leadership came up and we began discussing when each of us knew when we were indeed leaders. Is there a unified definition for when you can declare yourself a leader? Can you proclaim yourself a leader when you have at least one willing follower, or is there a rite of passage that we all need to experience in order to confidently use that title for ourselves?

To continue reading this article as it appeared in Enterprising Woman Magazine, please click here

Business Transformation, the New Norm for Biopharma

By: John Cassimatis & Tom Rosella
Topics: BioPharma, Regulatory, Compliance, Business Transformation
Date: March 31, 2015
Publication: Pharmaceutical Compliance Monitor

There is no question the Biopharma Industry is undergoing significant change. From an industry and regulatory perspective there are many driving factors such as health care reform, data transparency and security, precision medicine, and new forms of competition to name a few. The impact of these industry trends are forcing executives to re-evaluate their strategies in search of new, innovative ways to generate revenue, improve productivity and ensure compliance with ever changing regulatory guidelines. These evolving strategies are leading executives to consider fundamentally transforming their entire business model. In the past, companies addressed these challenges with narrow improvement efforts managed within functions. Today, an increasing number of companies are holistically transforming their business and unlocking significant profits that historically were hidden in functional silos and old operating models.

To continue reading this article as it appeared in Pharmaceutical Compliance Monitor, please click here

Keeping Your Business Fresh in Rapidly Changing World

By: Joy Taylor
Topics: Business Transformation
Date: March 16, 2015
Publication: Fox Business Online

With significant shifts in technology and energy along with the challenges of regulatory compliance, organizations must be nimble in their response to customers by anticipating and providing fresh solutions.  To understand how the notion of business transformation is so critical to surviving the competitive global landscape [Dr. Michael Woody] reached out to Joy Taylor, Co-founder and CEO of TayganPoint Consulting to get her thoughts on the major issues facing companies today around business transformation and how to find that edge.

To continue reading this article as it appeared on Fox Business online, please click here

Are Companies getting it done fast…or right?

By: Joy Taylor
Topics: Management Culture, Project Evaluation
Date: February 2, 2015
Publication: Smart Business Philadelphia

There’s a paradox between the time it takes to complete a project and the quality of the final product.  When time wins over quality and due diligence, there can be huge consequences — like the mortgage securities scandal of 2008 or the BP oil blowout in the Gulf of Mexico.  What effect does this trend have in day-to-day management culture? We’ve all gotten used to the frenetic pace of everyday life, especially in business.  If a team rushes, something’s bound to be missed or a concept lost in translation.  By comparison, if a project takes too long, you risk team fatigue, overly critiqued concepts and your people losing interest. If your company or management team is perpetually stuck in this cultural fiasco, it may be time to re-evaluate.

To continue reading this article as it appeared on Smart Business Philadelphia online, please click here

Why Mergers Fail: The CFO Role can Make or Break an M&A Deal

By: Jim Szakacs
Topics: M&A, Job Transition
Date: January 20, 2015
Publication: Fuse Financial Partners

At a recent executive networking event, I recognized several high-flying CFOs I envied years ago.  These were the dealmakers, the financiers that were sought after by the private equity firms and investment bankers. But here they were trying to expand their networks as they explained that they were “in transition”.  After a big “deal” many of them found themselves being offered a “package” by a disillusioned board and/or impatient investment sponsor.  What went wrong and why was the CFO shown the door?

To continue reading this article as it appeared on Fuse Financial Partners, please click here

Making Strategy Happen

By: John Cassimatis
Topics: Pharmaceutical Industry, Strategy, Business Transformation
Date: August 8, 2014
Publication: Pharmaceutical Compliance Monitor

The Pharmaceutical Industry continues to go through significant changes that present both challenges and opportunities.  As a result, many companies are responding by developing bold and transformational strategies as they try to set the stage for future success.  Setting the right strategy is not easy.  It often means “placing bets” on which markets will enable growth, which therapeutic areas to focus on, what business segments to divest and invest, and how to transform business models . But the real challenge is not developing and setting the strategy.  The real challenge is aligning the organization to effectively implement the strategy and “making strategy happen”.

To read this article in its entirety, please click here

Why Change Management Should be a Top Priority

By: Joy Taylor & Monica Morgan
Topics: Change Management, Communication
Publication: MWorld Summer 2014

“It is not the strongest that survives, nor the most intelligent; but rather the one that is most adaptable to change.” – Charles Darwin.

Clearly he was a visionary-the scientist who defined evolution and its importance in understanding how human beings work.  On many occasions, we sit and wonder, does anyone else truly understand that change will happen and that change management is a priority?

The only place where the profession of change management consistently operates at the highest level appears to be in the world of politics…So if companies want transformational change to take place with the precision of these political engagements, then we strongly suggest elevating change management.

To continue reading this article as it appeared on MWorld, please click here

SOS – How Pharma Can Avoid Drowning in Metrics Overload

By: John Cassimatis & Marybeth Lynch
Topics: Metrics Overload, Pharmaceutical Industry, Big Data, Process Improvement
Date: July 20, 2014
Publication: Pharmaceutical Compliance Monitor

There’s growing pressure for pharmaceutical companies to increase efficiencies while at the same time ensuring compliance with regulatory requirements.  Whether it be measuring compliance with regulatory requirements, increasing the productivity of drug discovery or improving key operational processes such as supply chain, clinical trials, or sales and marketing effectiveness, there is no lack of important business activities to measure and improve.  There are very few, if any, Pharmaceutical companies that don’t track and monitor key performance indicators and metrics.  The challenge is that they track too many and spend more time gathering and reporting metrics in functional silos rather than focusing on the vital metrics that drive company-wide process efficiencies and compliance alignment with the overall company strategy.

To continue reading this article as it appeared on Pharmaceutical Compliance Monitor, please click here

Why Active Risk Management Is Essential For Boards of Directors

By: Joy Taylor & Amy Flynn
Topics: Risk Management, Board of Directors
Date: July 17, 2014
Publication: Corporate Compliance Insights

Historically, corporate Boards of Directors have held the responsibility of risk management oversight, ensuring that risk management processes are clearly defined and appropriately enacted.  Their role in managing risk has been to provide guidance and leadership on matters that impact the strategic direction of a company or its public image.  In this traditional view, C-level management is left with the responsibility of actual risk assessment and mitigation, including issue resolution.  But in today’s fast-paced and social-media driven world, the speed at which a risk can turn into a widely publicized issue means Board members must now provide both tactical and strategic supervision over risk management as part of their membership.

To view this article in its entirety, please click here

Stepping Down as CFO: How to Handle the Transition

By: Jim Szakacs
Topics: Job Transition, Finance, Role of the CFO
Date: June 2, 2014
Publication: Proformative.com

Maybe you’ve had enough of the corporate life and it’s time to retire, maybe you’ve found a new opportunity, or maybe a new opportunity has found you — whatever your reason for leaving your current job, how you say goodbye is an important part of your legacy.  It will affect how your colleagues (i.e., future references) remember you, and it could even affect how outsiders view the company, at least in the short term. As the CFO, the number-two in command, you owe it to yourself and your employer to make a gracious exit.

This isn’t a time to let mixed emotions get in the way, an inevitable part of leaving any job, whether it’s voluntary or not.  The way to do that is to be calculated in your departure; view your leave as you would a business venture and have a plan every step of the way, including who you will tell what, when, and how.

To read this article in its entirety, please click here

Pharma X C2 = Continuous Improvement of Capability and Culture

By: John Cassimatis & Andrew Hunter
Topics: Pharmaceutical Industry, Process Improvement
Date: April 23,2014
Publication: Pharmaceutical Compliance Monitor

The economic challenges facing the pharmaceutical industry are well documented.  There are significant pressures to launch new products as patents expire and reduce costs – from overhead to promotion to manufacturing.  At the same time,there is the pressure to improve compliance in an increasingly complex regulatory environment.  In last month’s article we discussed enterprise process management as an important approach to build cross functional accountability for global processes and as a mechanism to drive continuous improvement.

The Japanese word “Kaizen” is frequently used to describe the philosophy or practices that focus on continuous improvement. Regardless of the title used,the importance of establishing a continuous improvement framework and culture cannot be understated.

To continue reading this article as it appeared inPharmaceutical Compliance Monitor, please click here

How Three Women Cracked the Entrepreneurial Barrier

Quote: Joy Taylor
Topics: Women in Business, Women Entrepreneurs
Date: May 28, 2014
Publication: Entrepreneur.com via Mighty Wise Academy

Bold women step out every day into the world of entrepreneurship, the likes of fashion and lifestyle company CEO Kathy Ireland, Spanx founder Sara Blakely and The Huffington Post Media Group’s chair Arianna Huffington. Canadian serial entrepreneur Kelsey Ramsden of London, Ontario; Joy Taylor, CEO of TayganPoint Consulting Group in Lambertville, N.J.; and Lisa Williams, CEO of World of EPI in Chula Vista, Calif.; are three such women.

As 2013 award winners of EY’s Entrepreneurial Winning Women, they collectively run companies bringing in morethan $70 million in annual revenue.

To continue reading this article as it appeared in Mighty Wise Academy, please click here

Destroying the Big Data Myth

By: Joy Taylor
Topics: Big Data, Data Analytics
Date: April 23,2014
Publication: Tidemark

What matters most with Big Data? Turning it into something companies can really use.

Big Data has always been a kind of siren song to executives, as if it held the answers to all their problems. “If only we could get our hands on more data,” they insisted, “we’ll make better decisions sooner.”  Trouble is, we’ve had access to more data in the past 15 years than all previous years combined, but we’re not making decisions that much faster.

One reason maybe that pulling bits of useful information from Big Data has lately become like finding a needle in a haystack – and as the haystack grows, that task gets harder and harder.  Nassim Taleb, author of TheBlack Swan: The Impact of the Highly Improbable, looks at this in his latest book, Antifragile.  Taleb’s theory is that as more information is available, people will unwittingly find fake statistical relationships; they are, in a sense, fooled by randomness.  To make matters worse, those false correlations could have huge implications for companies basing their decisions on cherry-picked or erroneously valued information.

To read this article in itsentirety, please click here

How to Use Regulatory Operations as a Competitive Advantage in Emerging Markets

By: Amy Flynn & Vicki LaRosa
Topics: Regulatory Operations, Competitive Advantage, Growth Strategy, Medical Device
Date: April 23, 2014
Publication: MDDI Regulatory and Compliance

Efficient regulatory execution is the key to a successful growth strategy in hard-to-navigate emerging markets.

The regulatory team has always been considered a strategic business partner within medical device companies, due to its responsibility for building and maintaining strong working relationships with regulators.  Working with regulators early in the process helps companies realize their favored outcomes more often.  Equally important and appreciated is an organization’s commitment to developing a detailed regulatory strategy—from ensuring a device’s classification is appropriate to managing premarket submissions to maintaining product clearance.

What organization shave historically underestimated is the value of an efficient regulatory execution group.  Failure to see the potential of a highly functioning regulatory operation as a competitive advantage could detract from business growth.

To continue reading this article as it appeared in MDDI Regulatory andCompliance please, click here

Make Philanthropy Part of your Company’s DNA

By: John Cassimatis
Topics: Corporate Philanthropy, Corporate Culture
Date: May 7, 2014
Publication: NJBIZ Industry Insights

Any company can choose to create a philanthropic culture.  But to have a meaningful impact, philanthropy must be part your company’s DNA.Not only does this mean making philanthropy part of your company’s mission, you must also put those words into action by dedicating time and money to support organizations that are aligned with the values of your employees.

At TayganPoint you will find employees serving as board members, event planners and volunteers for a variety of organizations,including the Giving Hope Network and the Millhill Child and Family Development Center.  We’ve learned that people who give back are those we want to work with.  They are open-minded, good listeners and know how to leverage their skills to deliver value.  But to attract talent like this you must incorporate questions about volunteerism and charitable work into the interview process.

To view this article as it appeared in NJBIZ Industry Insights, please click here

Strengthening Compliance Through Effective Process Management

By: John Cassimatis and Tom Rosella
Topics: Pharmaceutical Industry, Regulatory Compliance, Process Management, Cost Reduction
Date: April 9, 2014
Publication: Pharmaceutical Compliance Monitor

The pharmaceutical industry is facing a number of key challenges, including complying with rigorous regulatory requirements, improving productivity, reducing costs, and finding new sources of revenue.  Pharmaceutical companies need to be more comprehensive and integrated in how they address these challenges.  In the past, companies would often address these challenges with narrow improvement efforts managed within functions.  This is no longer sufficient. It is now necessary to take a moreholistic enterprise-wide view when transforming your business. In particular,it is essential to manage compliance not only through centralized functions but also by building accountability into your end-to-end global process design so it becomes the way you run and manage your business.

To view this article as itappeared in Pharmaceutical Compliance Monitor, please click here

Creating Positive Communications with the FDA

By: Denise Myshko, featuring John Cassimatis
Topics: Pharmaceutical Industry, Regulatory
Date: April, 2014
Publication: PharmaVoice

A critical success factor in the regulatory review process is clear and frequent communications to ensure a smooth and efficient review of an application.  Navigating the regulatory review process can be challenging.  Industry experts say creating an efficient development process depends on engaging regulatory officials and proactively communicating.  Companies need to treat FDA communications as a formal end-to-end process, says John Cassimatis,co-founder and president, of TayganPoint Consulting Group.  “This means creating a process owner, creating key metrics, and making sure everyone’s roles are clear.”

To view this article as it appeared on the PharmaVOICE site, please Click here

Can your Network Handle Big Data

By: Joy Taylor
Topics: Technology, Big Data
Date: April 9, 2014
Publication: Dell’s Tech One Page

Companies both large and small are investing in big data.  The smart ones prepare well and upgrade their information technology infrastructure to ensure their networks can handle the increased traffic.  Others find themselves scrambling to improve their networks, as critical processes slowdown or halt.

To view this article as it appeared on Dell’s Tech One Page, please click here

Pharma Companies Must Rethink Marketing Strategies Under the Sunshine Act

By: Joy Taylor and John Cassimatis
Topics: Marketing Strategies, Sunshine Act
Date: October 21, 2013
Publication: Corporate Compliance Insights

The Physician Payment Sunshine Act went into effect on August 1, 2013.  Its foundational intent is to create more transparency between pharmaceutical manufacturers, physicians and hospitals and thus prevent what may be perceived as a conflict of interest among these parties.  The act contains more stringent rules on what must be reported by manufacturers regarding “payments or other transfers of value” to health care professionals.  These payments include speaking fees, consulting arrangements, meals, etc.  While the intent of the Sunshine Act is not in question, it has certainly caused a significant wrinkle in the way pharmaceutical companies are marketing their products.

To continue reading this article as it appeared on Corporate Compliance Insights, please click here

Honing the Competitive Edge: Pharma Continues its Leaning Efforts to Cut Waste and Improve Operations

By: Steve Kuehn, featuring Joy Taylor
Topics: Lean Sigma, Six Sigma, Black Belt, Process Improvement
Date: October 17, 2013
Publication: Pharmaceutical Manufacturing

Stop me if you’ve heard this one, a Lean TPS guy, a Six Sigma Black Belt , and an OpEx Consultant, go into a bar. The bartender looks up and says, “What is this, some kind of Jidoka?”  Those familiar with the lexicon of Lean and Six Sigma, might recognize the term from their Lean 101 primer – in its most Japanese of origins, the word means “automation with a human touch.”

To read this article in its entirety, please click here

Carefully Planned Kaizens Can Lead to Immediate Change

By: Joy Taylor
Topics: Process Improvement, Kaizen Events, Project Management
Date: July 2012
Publication: iSixSigma

Kaizen events – concentrated meetings that are designed to bring about rapid change – are often misunderstood by those who have not completed one. From the outside, the events may simply seem like advanced all-day meetings with fanfare. What many organizations do not fully appreciate is the investment required to pull off such an orchestrated affair. M&A

To continue reading this article, please click here

TayganPoint Braves the Cold with Fisherman’s Mark Food Pantry

December 22, 2014 – TayganPoint team members brought their brightest holiday smiles and warmest winter coats on December 22nd as they braved the cold to help sort and pack food for Lambertville’s Fisherman’s Mark Food Pantry.  As part of TayganPoint’s continued efforts to support those in the local community, we’ve partnered again with Fisherman’s Mark to help provide food to low-income families in need this holiday season.

To learn more, please visit:www.fishermansmark.org

Future 50 Awards Program Recognizes TayganPoint Consulting Group

SmartCEO competition identifies TayganPoint as 1 of 50 Greater Philadelphia companies to be recognized for their fast growth in Philadelphia SmartCEO’s Future 50 Awards program

January 5, 2015 – TayganPoint is pleased to be named amongst Philadelphia SmartCEO’s 2015 Future 50 award winners.  The program recognizes the region’s 50 fastest-growing mid-sized companies and 10 small Emerging Growth companies who have experienced outsized growth based on a combined three-year average of revenue and employee growth.

View News Release

NJBIZ Honors TayganPoint as one of New Jersey’s 50 Fastest Growing Companies

September 25, 2014 – TayganPoint was recognized once again by NJBIZ as one of New Jersey’s Fastest Growing Companies.  To qualify, companies had to meet selection criteria that included a revenue size of at least $500,000 within the past two out of three years and growth in revenue over a three year period, dating from fiscal year 2011 to 2013. View News Release

 

 

TayganPoint Braves the Cold with Fisherman’s Mark Food Pantry  

December 22, 2014 – TayganPoint team members brought their brightest holiday smiles and warmest winter coats on December 22nd as they braved the cold to help sort and pack food for Lambertville’s Fisherman’s Mark Food Pantry.  As part of TayganPoint’s continued efforts to support those in the local community, we’ve partnered again with Fisherman’s Mark to help provide food to low-income families in need this holiday season. To learn more, please visit: www.fishermansmark.org

Future 50 Awards Program Recognizes TayganPoint Consulting Group

SmartCEO competition identifies TayganPoint as 1 of 50 Greater Philadelphia companies to be recognized for their fast growth in Philadelphia SmartCEO’s Future 50 Awards program

January 5, 2015 – TayganPoint is pleased to be named amongst Philadelphia SmartCEO’s 2015 Future 50 award winners. The program recognizes the region’s 50 fastest-growing mid-sized companies and 10 small Emerging Growth companies who have experienced outsized growth based on a combined three-year average of revenue and employee growth. View News Release

Global Diversified Healthcare CompanyIT Service Strategy

Global Diversified Healthcare CompanyIT Services Global Operating Model

Global Pharmaceutical CompanyFinance and Shared Business Service Strategy

National Financial Services CompanyPrint/Mail/Fulfillment Business Process Improvement

Office Equipment Leasing CompanyIT Assessment

Office Equipment Leasing CompanyLeasing Operations

Spring 2015 TayganPoint Newsletter - Q1

Winter 2014 TayganPoint Newsletter - Q4

Fall 2014 TayganPoint Newsletter - Q3

Click here to subscribe to the TayganPoint Quarterly Newsletter.

Avoiding the Blank Stares: Developing a Strong Change Management Vision

“A vision always goes beyond the numbers…A vision says something that helps clarify the direction in which an organization needs to move,” says John Kotter, Change Management Guru.  

A common thread links executives, from all walks of life, to one another.  At some point during their careers, each will be faced with leading some form of organizational change – large or small, self-created or mandated from elsewhere in the organization, each will struggle with the same fundamental challenge — articulating their vision. If you can’t clearly share what the future state of your organization looks and feels like, why would anyone be inclined to follow you?

Change leaders need to be able to clearly communicate the need for a project by sharing its value and outcomes in language that will be understood not only by those involved, but by anyone, at any level, across the organization.  To add a level of complexity, it’s more than the message alone; it’s the tone and authenticity behind how that message is delivered.  If you truly believe in the change you are enacting, your passion and belief needs to come through in how that information is shared.

Once defined, this vision will be the driving force behind all future aspects of the change.  This is a great statement to revisit with leaders throughout the change process.  Asking “how does this support the vision?” can help drive the right actions when leaders feel pressure to modify or abandon certain elements of the change initiative.  Articulated vision is what helps you stay the course.

Taking time and care with each change management project, meeting with senior leaders, defining vision and a strategy for the proposed change is not a luxury item – it’s a business imperative, and directly linked to the direction your organization is moving.

 

 

Contributed by Sondra Leibner, Senior Consultant, TayganPoint

“What Gives!?” — Are You a Giving Organization?

“Never doubt that a small group of thoughtful, committed citizens can change the world.  Indeed, it is the only thing that ever has.”
– Margaret Mead

As we become a more global society with many organizations operating across city, state and country borders it is important to address how corporate philanthropy has become part of the equation. Many organizations give monetary donations to charities for the tax write off and the short blurb for their annual report, but true involvement by the organization and its employees can have deep positive effects that go well beyond the act itself.

Attracting New Talent
Any organization that is looking to grow and bring in new talent should consider if its culture and values support giving, volunteering and community involvement.   The next generation of the workforce “Millennials” take this principle to heart and are using it to guide both their spending and employment decisions.   According to the recent Millennial Impact Report, 75 percent of young people donated to causes last year and 63 percent said they gave their time to volunteer. This translates to employment as well where this generation is looking at “corporate embrace and prioritization of philanthropy as a central tenet of the employee experience.2“ “This is the reason why, one-third of Millennials surveyed said that their companies’ volunteer policies affected their decision to apply for a job, 39% said that it influenced their decision to interview, and 55% said that such policies played into their decision to accept an offer.”  For companies to attract top talent they need to be involved in giving at all levels within the organization.

Team Building
Volunteer work and projects provide a unique opportunity for team building that cannot be found inside the office.  Allowing employees the chance to come together and work on a project can provide a great avenue for building a team.  Corporate volunteer projects naturally create a positive team-building experience for participants.  Research shows that strong teamwork has a significant positive effect on employee performance.  Corporate giving offers employees the opportunity to support their community while still engaging employees in developmental and team building activities.

Employee Engagement
As employee engagement increases and employees are engaged in what they do, they are more likely to participate and stay with an organization. Research has shown that employees with high engagement deliver better results for their organizations and have increased tenure. The interesting aspect is what can drive this engagement.  “A key driver of Employee Engagement has been reported to be an employee’s perception of the organization’s values. Without a positive feeling about the values of the organization, employee engagement will likely remain low.”  Once again corporate giving can allow an organization to define its values, engage its employees and better both its community and the organization itself at the same time.

Are you a giving organization?  Do you work for a giving organization?   If not, what gives?

 

 

Contributed by John Nolan, Consultant, TayganPoint

Change Management Forum Invite - For Web

Work gets done in organizations through communication and conversation. Are the hallways of your organization filled with sounds of collaboration or sounds of dissent? It’s what people say, or sometimes the things they don’t say, that define an organization’s beliefs, ideologies, principles and values.

Click here to learn more about TayganPoint’s upcoming forum or to register.