It’s Not About The Money, It’s About the Meaning
Fancy titles, and a big pay cheque isn’t where the action is. You’re going to have to offer something with more meaning if you want to get Millennial superstars on your team.
Kenny Cheung, Chief of Procurement at The World Bank Group, talks about his early career, the importance of setting boundaries, and the skills procurement professionals will require in the future.
Kenny also draws on his experience working for some of the biggest names in Finance, across two continents, about why Millennials care more for the deeper meaning in their job, rather than the big salary or fancy title.
1. What were your first 3 jobs?
- Retail Project Engineer at ExxonMobil;
- Strategic Sourcing Consultant at ExxonMobil; and
- Senior Category Manager at National Australia Bank.
2. What’s one thing you know now, that you wish you’d known at the start of your career?
The importance of setting boundaries personally and professionally. Boundaries are important for getting your priorities right, help manage expectations of others whilst ensuring you don’t get yourselves (and your teams) burned out.
In my pursuit of achievements, I realised I could accomplish more “quality” goals than “quantity” goals, if boundaries were set earlier in my career.
3. How can CPOs attract and retain Millennials?
CPOs ought to understand how to build broader purpose into their team’s mission, as well as the design of individual roles within their teams.
Millennials look for more than a famous brand, an impressive title or a good salary. They look for meaning in their roles, far deeper and holistic than previous generations.
4. What key skills are critical for procurement in the next 5 years?
Emotional Intelligence, Energy Management, Influencing, Networking, and Innovation.
5. How valuable have mentors been in your career?
Extremely. They provide me with some invaluable golden rules of career management as well as work-life integration fundamentals.
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