In any business, a group of employees can consist of a diverse group of people. Differences in race, creed, color, sex, national origin and religion can bring a melting pot of perspectives and talent to the daily pursuit of your company’s mission. Proper management of these generations and a greater focus on the differences among them can enrich your business and ultimately your bottom line.
Building a diverse workforce has been a mantra in business for quite some time and as we become more effective at building that diversity, differences in each generation’s approach will begin to surface. Management and leaders of businesses must begin to recognize that their personal approach and desire may not deliver the same desired results in the future.
Leaders need to understand the personal needs and motivators of individuals within their organization. Individual and generational views of health care, vacation, promotions, bonuses, retirement, loyalty, authority, work hours, work approach, communication, work-life balance, etc. are quite different based on personal needs and expectations. Having polices aiming for one-size fits all will simply not work.
Here are a few characteristics of each generation that could dramatically impact how work gets done in your business:
This generation is accustomed to personal interaction. They enjoy teams and a take a collegial approach to most challenges. They tend to be workaholics and are willing to work during time typically reserved for home and family. They’re interested in being rewarded for that dedication whether it comes in a bigger bonus or further advancement.
Alternative appreciation such as more time off or vacation usually does not do the trick. This is a group that receives much satisfaction from work. This group relies on its healthcare and is looking forward to retirement.
This generation is much more independent. However, they have disdain for rigid work hours and authority in general. They lack trust in institutions and corporations in general, which fits with their independent nature.
They are extremely savvy with computers and technology. The group is adaptive to change and will accept a number of job moves in their lifetimes. They work to live, not the other way around.
Generation Y / Millennials
This generation is likened to next level Gen Xers, meaning they take all the same characteristics further on the trend line. They question authority more and they challenge the status quo. Typically, they expect instant responses and are in touch almost real time with the world around them. They are multi-taskers and leave Gen X slightly behind with their knowledge of technology and the growing world of social media.
Telecommuting would be a fine option for them. They’re also very interested in quality of life and are interested in a good ratio of work/life balance. They are open-minded to differences and expect diversity.
Now that we know a little more about the differences inside the generations represented in the workplace, we can make good decisions accordingly. This knowledge is powerful when dealing with important tasks such as hiring and recruiting and how that may relate to the relocation of a key player inside your organization.
It can help you schedule meetings around preferences on work hours and access to information, and it can be worth its weight in gold relative to the retention of key team members and how you structure your compensation and benefits system for maximum impact.
Embracing the differences in your workforce relative to their generation may provide you with important information in order to make the correct choice on key decision points. Chances are that discussion with your team of HR practitioners and a little research in the areas we covered is all you need to make the most of your team.
Tony Arnold is founder and principal of Upfront Management, a St. Louis-based management and executive consulting firm. He can be reached at (314) 825-9525 or [email protected]