Specialists in Organizational and Executive Leadership
Successfully Incorporating Generation Z Into Today’s Multi-Generational Team
We have previously addressed the generational divides that exist within an organization’s team. This is, always, presenting different challenges within the organization. It is something that we encounter frequently today and comes down to divisiveness rather than cohesiveness. Within each age-related generation, negative impacts are too often felt within all facets of the workforce. Recognizing this potential and reality can influence the way any company prepares and addresses this inevitable reality.
Given the importance of this situation, we will address the existence of a multi-generation workforce in two parts. Part 1 … this blog … will look at the various age-groups within any organization. It will explore how to best take advantage of the knowledge, experience, and value that each has and does offer to their company. It will also look at building a respect in all directions for this. It is aimed at fostering a desire and willingness to want to learn and understand the existence of various knowledge, attitudes and approaches that exist within each ‘generational’ group.
Today, as Generation Z members, currently aged twenty-eight and younger, begin to enter the workforce, they bring with them more pronounced
challenges than those before them. Members of the Generation Z group and especially when joining those of the Millennial generation (currently between the ages of 29 and 43) a significant impact on the future of work and the unique set of characteristics they bring. These include the following:
Digital-first: Millennials and Gen Zers don’t know a world, let alone a workplace, without technology. They are often ahead of the curve when it comes to implementing and adopting new technologies and are in tune with how systems and processes can be improved through technology.
Mobile: Unlike their predecessors, Millennials and Generation Z are more likely to change jobs,
roles, or locations than to stay with one company for the long term. They value flexibility and the ability to make changes that work for their changing lifestyles, rather than feeling tied to or “loyal” to one organization for the entirety of their careers.
Adaptable and Agile: The younger generations aren’t impressed by promises of stability. They know they can work wherever, whenever, and in whatever kind of situation. In fact, they expect it. They expect to be able to work remotely (when possible) and will quickly adapt and adopt changes.
While it is also important to begin to anticipate the changes these younger workers bring, what may be even more important is preparing for the aging of other groups with the Baby Boomers next to leave. Statistics indicate that 10,000 Baby Boomers turn 65 years old each day, and by 2030, all boomers will be at least retirement age. The future of work is about to change drastically – what can an organization be doing now to prepare?
Although this may not be a crisis situation yet, there is a sense of urgency here. The most successful organizations in the future of work will be those who were proactive and prepared. Here are three basic principles that will serve companies and their leaders well:
Maximize a Multi-Generational Workplace Many organizations do not lean into the many benefits each generation brings to the table. For example, younger employees may be champions of leveraging innovative technology and training others on adoption, while more experienced employees bring long time knowledge that can influence and guide decision-making. As a result, the collaboration of fresh innovation with wisdom from the experience brings increased productivity. It’s time to maximize a multi-generational workforce – one that embraces the gifts and talents of all employees, no matter their age.
Equip the Gen Xers (ages 48 to 59) This age group, although smaller than those surrounding it, today occupy almost 50% of company management positions in organizations. Baby Boomers, the preceding group, are quickly approaching retirement ages. Making a concentrated effort to equip the ‘Xers’ with the knowledge and confidence to successfully assume organizational leadership is crucial. The questions to ask include:
Who would be expected to retire in the next 5 to 10 years?
Who will take their place?
Are those individuals prepared?
What kind of training can you provide?
What will you need to invest to prepare your workforce for the exit of key leaders?
Honor Legacy Employees by Retaining and Transferring Knowledge A legacy employee, one who is a long-standing employee or a founding member of the organization, brings and possesses valuable knowledge and skills that many won’t have. As you prepare for the exit of these individuals, you will need to find ways to retain access to their knowledge and skillsets before they leave. This will require facilitating the successful transfer of their knowledge to other members of the workforce and keeping older workers in the workforce longer.
Perhaps the easiest way to facilitate the transfer of knowledge is through mentorship. In addition to
the practical benefits of mentoring the rewards of mentoring are substantial as well. Mentorship allows legacy employees to bring younger, less experienced people along and bring them up. Mentorship benefits both the mentor and the mentee. For the latter group the benefit is obvious. For the mentor, being in this role reinforces for them their value to the organization. Rather than feeling less important or part of the ‘old school’ they realize the importance of what they bring.
CONCLUSION
A workforce made up of members of various age-related generations can provide a wide range of valuable information of both historical and current nature. This, in turn, has the potential of being the foundation of ongoing success that every organization wants to achieve and further. Certainly, it is desirable to create an atmosphere that demonstrates the value of experience and knowledge that resides within each group.
Creating an environment within a company wherein the past as well as future approaches and directions are seen for what they have created and will create going forward is the ideal to be strived for by all. It becomes a challenge and a role for company management to assume as its’ makeup continues to evolve. It won’t happen by chance. It will happen when this ongoing evolution is recognized for both the challenges and the benefits it provides.
Next Blog: How to successfully incorporate the emerging youngest generation into the company in a positive and successful manner. Mike Dorman
Mike – I have been away from what was the normative business organization for a very long time. But I get the sense that some fundamental precepts can no longer be relied upon. One of the most basic guides for decision making in an organization was not just the sanctity of the bottom line, but also the achievement of a given rate of Return to Capital. Investment decisions have for a very long time been based on Yield, frequently computed as Internal Rate of Return. If a corporate action fails to meet the organization’s predetermined Hurdle Rate, then an alternative use of capital will be sought. This process is determined largely on giving equity holders a rate of return on their investment that will support their continued holding of organizational equity.
I support the notion of giving members of a business organization an opportunity to contribute to the style or focus of a business, but it should be a part of the style of a business only as long as it does not negatively impact the organizations Yield.
Has this fundamental model changed to accommodate generational attitudes for the modus operandi, without basic consideration of the organizational reason for being (raison d’etre)? I would really like to hear any feedback from your readers, irrespective of anyone’s generational standing, as to their views of this notion.
Love this information Mike. It is what I have been hearing at different events for the past year but you seem to give some solutions to integrate all the generations!
Mikesays
Thanks Nancy. I believe it rests on management to be determined to change the mindsets and thus appreciation for the learning and the advantages to the organization through a focus on making the multi-generational workforce a positive and valuable one.
Being Thrown Under the Bus: What to Do When It happens to YOU in the Workplace
Chapters include:
The Meaning of Being Thrown Under the Bus
The Ones Who are Likely to do the Throwing
The Impact on the Individuals and the Organization Where Throwing Under the Bus is Tolerated
Responding After Having Been Thrown Under the Bus … You Get to Choose
How to Minimize the Likelihood of Finding Yourself Under the Bus
Mike – I have been away from what was the normative business organization for a very long time. But I get the sense that some fundamental precepts can no longer be relied upon. One of the most basic guides for decision making in an organization was not just the sanctity of the bottom line, but also the achievement of a given rate of Return to Capital. Investment decisions have for a very long time been based on Yield, frequently computed as Internal Rate of Return. If a corporate action fails to meet the organization’s predetermined Hurdle Rate, then an alternative use of capital will be sought. This process is determined largely on giving equity holders a rate of return on their investment that will support their continued holding of organizational equity.
I support the notion of giving members of a business organization an opportunity to contribute to the style or focus of a business, but it should be a part of the style of a business only as long as it does not negatively impact the organizations Yield.
Has this fundamental model changed to accommodate generational attitudes for the modus operandi, without basic consideration of the organizational reason for being (raison d’etre)? I would really like to hear any feedback from your readers, irrespective of anyone’s generational standing, as to their views of this notion.
Love this information Mike. It is what I have been hearing at different events for the past year but you seem to give some solutions to integrate all the generations!
Thanks Nancy. I believe it rests on management to be determined to change the mindsets and thus appreciation for the learning and the advantages to the organization through a focus on making the multi-generational workforce a positive and valuable one.