Understanding and Optimizing a Multigenerational Workforce

Transcription

1 Understanding and Optimizing a Multigenerational Workforce Today s workforce spans numerous generations and presents a unique challenge: each of these generations possesses starkly unique character traits, strengths, weaknesses and experiences. These generational differences often provide some of the biggest challenges for employers, particularly human resources and hiring managers. This white paper covers the values and unique strengths of each generation in today s workforce, offers tips for how to manage each generation and provides insights into the development of a multigenerational workforce. Baby Boomers make up roughly 30% of today s workforce and were born post- WWII. They are loyal employees who opt for long-term career paths, rather than short-term jobs. Lots of them are working longer than they expected for a number of reasons. The Generation X population was born between the mid 60s and early 80s and comprises roughly 33% of the workforce. Working with Gen Xers involves stepping aside and providing them with autonomy they appreciate that the most of any generation. Millennials (a.k.a. Generation Y), born between the early 80s and late 90s, now surpass Gen X as the largest presence in the workforce. They are widely regarded as a somewhat coddled generation, as many were raised by parents who routinely encouraged them, promising that they were the best. Members of Generation Z are the up-and-comers born after Naturally, they overlap with Millennials in many ways, having grown up through the 21st century technological movement and are more connected to electronic resources than any generation.

2 IDENTIFYING GENERATIONAL WORKPLACE SKILLS GAP It s easy to generalize about different groups based on age, but understanding how these groups operate in the workplace is another skill that managers and hiring leaders must consider. Boomers in the Workplace The experience of the Boomer generation enables them to be leaders in the workforce and hold many managerial or authoritative positions. The generation is characterized by a sense of rebuilding and a focus on creating a better world for future generations. Boomers are the first leaders in the workplace to emphasize teambuilding and collaboration. They are loyal, hardworking and spend their time and energy working towards creating collaborative environments. Baby Boomers value ownership, community involvement and prosperity. Gen Xers in the Workplace Generation X is often skeptical of authority and usually very independent. Gen Xers also appreciate recognition and they value individual time with their managers for one-on-one feedback. Gen Xers tend to be comfortable with change and generally possess a strong ability to adapt quickly. This is partially due to the fact that Generation X saw a consistent rise in divorce rates and political inefficiency. Millennials in the Workplace Millennials are the most educated and independent of the generations in the workforce today. They are also the most concerned with recognition and attention for their accomplishments. Millennials are characterized by a sense of connectivity, instant gratification, collaboration and personal career advancement. They commonly seek a job experience that is flexible and rewards unique schedules. For Millennials, benefits that are modern and reflect work-life balance are a high priority. According to Bentley University, Millennials have not rejected the corporate world, but they will seek other options. Gen Zers in the Workplace Generation Z brings a strong entrepreneurial spirit into the workplace. They want the flexibility to act on their creative and innovative passion. Their passion plays a major factor into where they choose to work because they are looking to make a lasting impact on society. If you foster their interest and encourage their passions, they can be major disruptors in the workplace. While both Millennials and Gen Z grew up with technology, it s Gen Z that has only ever known smart phones, so you may find them even more technologically adept. Because of rising tuition costs and record student debt, Gen Zers look for a competitive salary. Particularly with the current candidate-driven job market, the salary your company offers this generation can make or break your hiring process. Millennials are perhaps the most educated and independent of the generations in the workforce today.

3 APPEALING TO EACH AND EVERY GENERATION For employers hoping to build a strong, multigenerational team, it s important to begin looking for ways to appeal to each generation and reward their values and expectations in unique ways. When recruiting, keep in mind the variety of perspectives that each candidate possesses, and display your own understanding of generational needs. Below are ways to connect with different generations based on their needs. Baby Boomers Reinforce that they are needed. Offer teaching opportunities with younger generations. Thank them for their valid perspectives. Reach out to them personally; avoid indirect methods of communication. Encourage them to get involved regularly. Generation X Be direct about expectations and deadlines. Trust them to meet expectations once they are defined and give them space. Show that you are a hard worker to earn their respect. Prove that their workplace will be flexible. Offer efficient and clear feedback on a regular basis. Millennials Remind them that they will work with talented people. Send a message that their contributions can impact the entire company. Show them that, as a manager, you are ambitious and smart. Look for ways to acknowledge and reward them. Avoid being cynical and don t treat them as though they are too young. Generation Z Offer them a competitive salary. Express an intent to foster their entrepreneurial spirit. Explain the network your company can offer them. Clearly lay out their possible career trajectory within the company. Find ways to encourage their passion with individualized attention. COMMON CHALLENGES FOR MANAGERS Workforce Cohesion With any multigenerational team, a key challenge is cohesion among team members. Naturally, generational groups will exist, but it s important to avoid clashes between these groups. As younger generations seek career advancement opportunities, they face potential skepticism from older generations. In the same way, younger generations often criticize Baby Boomers as lacking modern expertise, in particular as it relates to technology. Leadership and Opportunity Establishing leadership opportunities for a multigenerational workforce is a unique challenge in today s workplace. As differing generations may clash in some areas, it can be challenging to determine what modern leadership looks like and difficult to reward those who are deserving or expectant of recognition and career advancement.

4 Technology and Changing Skill Sets Technology constantly changes the way we work. Older generations may feel insecure about their jobs as the multi-tasking application wielders that are Gen Z continue to improve efficiencies in the workplace. The younger generations are about efficiency while the elder are about quality. Failing to balance these work ethics can cause hostility and confusion. SIX SURE FIRE TIPS FOR MANAGING GENERATIONS SUCCESSFULLY 1. Be personal and flexible with policies. Multigenerational workplaces present unique challenges for managers and employers, but these challenges cannot be resolved through a catch-all policy. Managers must make an effort to understand their employees on an individual level whenever possible. Doing so will reveal the unique needs of each employee and/or generation, which ultimately provides the necessary information for a manager to personalize policies when the opportunity presents itself. As always, being empathetic to employee needs should not go overlooked. When facing a generational issue directly, it s helpful to offer options. The ideal scenario won t always be met for each employee, but reaching a balance or mutual compromise is the next best step. 2. Instigate dialogue. When dealing with potentially sensitive topics based on generational values, it doesn t hurt to be upfront. Direct the conversation by asking specific questions without shying away from the central theme of the topic. Allow yourself to open up about the challenges you may face, or your own generational tendencies, which often spurs your employees to discuss the same topic. Starting a conversation helps everyone on your team become more aware of their own work styles as well as the styles of others, and can be the first step towards greater collaboration. 3. Always build strengths. Rather than accommodating for weaknesses, pay attention to the specific strengths of each generation. Understanding your employees strengths on a personal level allows you to build on these strengths, ensuring greater ownership for every project and a stronger sense of engagement. For example, there will be occasions where an employee from the Boomer generation will be more equipped for a certain task, and this may or may not have to do with their generational grouping. While you can make some assumptions about your employees based on their generation, be careful not to overdo it. It helps to understand the overall characteristics of each generation, but there are certain things you can and should do to find common ground. Treat each person as an individual and promote collaboration and open communication.

5 4. Offer resources and opportunities. Listen to your employees and look for ways that they can develop professionally. This could be anything from an apprenticeship between Baby Boomers and Gen Z, to sending a Millennial to a leadership or teambuilding conference. By seeking out ways to support your employees based on their unique needs, you can create a baseline from which each individual can grow in the workplace. 5. Encourage generational understanding. Showcase how different perspectives benefit your team dynamic. By calling attention to what makes each generational skill set valuable, you can drive a company culture through which each group understands the other better and finds opportunity in hearing new perspectives. Encouraging a level of company-wide understanding will result in cohesive teams and successful projects. 6. Develop a work-life integration culture. One of the most noteworthy shifts in workplace culture in recent years is the advent of work-life integration, rather than work-life balance. Employers are finding that work-life balance is an outdated and often impossible expectation to set in a world that is so deeply connected by technology. Work-life integration is a shift that many employers have adopted to meet multigenerational needs while trying to keep up with the fast pace of business in our technological age. With constant access to and other methods of work and communication, employers have begun revising expectations. Employees and their employers should look to strike an understanding that work will be accomplished on time, emphasizing a culture of trust, even if that time doesn t fall within the archetypal 9-5, Monday- Friday frame. Many Baby Boomers will hold fast to this timeline, which should also be respected. Ultimately, employers must adopt a new awareness of the alwaysconnected employee and respect boundaries, but also become more flexible about their employees time. THE BENEFITS PROBLEM A huge part of recruiting and retaining employees is your benefits package. This holds true for every generation, but each grouping will likely have a range of priorities that differ from one another. As a company, it s important to land on a set of benefits that accounts for the top priorities of each generational group in your workplace. Below are a few of the biggest priorities for each generation. One of the most noteworthy shifts in workplace culture in recent years is the advent of work-life integration Baby Boomers Set up a retirement plan. Boomers will always look for and expect this opportunity in their benefits package. Boomers will also pay attention to companies with a focus on health, and value healthy lifestyle incentives in a benefits package. Give Boomers parameters and flexibility when it comes to family time.

6 Generation Xers Show them that their work schedule is flexible and can be personalized to meet their needs. Emphasize how your benefits are unique from other companies; Gen Xers often look for added incentives and are sensitive to being taken advantage of. Millennials Include them in any financial benefits, like 401(k) plans; Millennials want opportunities to become financially sound (and savvy). Highlight your flexibility when it comes to work-life integration. Generation Zers Offer sponsorship opportunities for associations and networking events the more connections they can utilize, the more innovations they can bring to your company. Know the job market and offer a competitive salary. BUILDING A CULTURE OF TRUST AND ENGAGEMENT Most important to building trust and engagement in a multigenerational workforce is remembering that each generation has similarities in addition to their differences. Avoid putting employees into a box too often; generalizations help to understand company-wide challenges, but they can be detrimental when dealing with individuals. Look for ways that each generation contributes to the team; when similarities overlap between groups, highlight them and look for new ways to spark more in the future. Keep in mind, there are many myths and misconceptions about each generation. For example, just because Gen Z is constantly on their phones does not mean they are doing nothing; their multi-tasking abilities can be capitalized on if understood. Maintaining an open mind and looking for the positives is critical for any employer or manager. Finding Common Ground Whenever possible, land on a solution that appeals to each generation. Although this is a challenge in itself, one rule of thumb will undoubtedly support a cohesive team. Each generation looks for a clear set of expectations and success metrics. For Baby Boomers, this is because they want to meet goals in a timely manner and show respect for deadlines. For Millennials, this is because they want to understand how to be successful and move forward. Each group may respond differently, but engagement should rise across the board and your employees will appreciate the clarity in their role within the company. Reaping the Benefits of a Multigenerational Team Companies that understand and value the different needs and strengths of a multigenerational workforce will be better equipped to deal with problems in innovative ways, benefiting from a variety of perspectives and skill sets. Employers who seek to understand and accommodate each employee, regardless of their generational grouping, are more likely to have an engaged and therefore, successful team. According to a study from Gallup, 32% of employees in the U.S. are engaged meaning they are involved in, enthusiastic about and committed to their work and workplace. Worldwide, only 13% of employees working for an organization are engaged.

7 Ultimately, understanding what sets these groups apart is key in optimizing any team, ensuring success for all employees and retaining your best talent. Today s workforce landscape is broad: older generations are working longer career trajectories, and younger generations are flooding the job market. Each generation has a unique identity that can be beneficial. Looking Ahead As you build a company environment that reflects the values of each generation, keep in mind that the workforce is constantly changing. More Baby Boomers are reaching the end of their careers while Generation Z is beginning to enter the job market. As Millennials and Generation Z take over the workforce, make sure you are aware of the ways you can collectively engage them: More open work environments that boast a collaborative mentality A greater sense of trust and freedom in your employees Added incentives and unique benefits packages even if they are opt-in programs that employees pay extra for Plenty of career advancement opportunities One of the best ways to create a workplace environment that appeals to every generation is simple: leverage the opinions of the team and encourage them to define what is most important to them. As generational shifts continue to take place, update your practices and benefits to reflect the modern workforce and create a culture that is progressive enough to be competitive in the job market. Ultimately, the most successful companies with the strongest workforces will find ways to support older generations and ensure that they are comfortable while they encourage innovation and flexibility for their younger generations. The ability to strike this balance is what will define a successful workforce and positive company culture. For more on the latest and greatest in closing the skills gap, contact your local Adecco representative or visit adeccousa.com.