multigenerational workplace - candace steele flippin · workplace culture and, ultimately, overall...
TRANSCRIPT
10 FACTS ABOUT THE
MULTIGENERATIONAL WORKPLACE
Copyright © 2017 by Candace Steele Flippin.
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Generational shifts are evolving the modern workplace…
In today’s dynamic workplace, employees and employers are constantly
adapting to a new employee mix, ever-changing technology, and
inventive service offerings. Long-held assumptions are frequently being
reexamined. Age is no longer synonymous with seniority.
New ideas aren’t always presumed to be better. Even lines between
industries are blurring as innovation transforms consumer expectations
by the day.
One consistent theme is that the workplace is more personal than ever.
It’s no longer enough to define work solely as what we do. Now, what we
do is part of an intricate tapestry of who we are, how we work, and why
we work.
1
…are you ready?
“No matter what generation we are in, as leaders, we have
to be able to understand and connect to our teams or our
people, no matter what level or what generation they are a
part of in order for us to be successful.” - Gen X Male
In many work environments, simmering “us versus them” perceptions among
the different generations of employees have a significant influence on
workplace culture and, ultimately, overall success. A long employee track record
is still valuable, but there are many other ways to measure value too. An
employee’s generational identity is shaped by different experiences, priorities,
expectations, work styles, and motivators. This identity influences an
employee’s performance and, in turn, his or her overall contribution to and
connection with an organization.
As Baby Boomers begin to retire, and Generations X, Y, and Z continue to grow
within the workforce, there is no time like the present to bridge the “us versus
them” gap, align visions, and build productive relationships moving forward.
The modern workplace can have up to five generations
Generation groups are associated with people who were born around the
same time frame and share values and behaviors based on the events
that occurred when and where they were born.
While the age ranges associated with the various generations vary, the
most common years associated with the generation groups are:
Traditionalist born 1922–1945
Baby Boomer born 1946–1964
Generation X born 1965–1980
Generation Y (Millennials) born 1981–1995
Generation Z born after 1995
2
With approximately 10,000 Baby Boomers in the U.S. reaching retirement
age every day, in the next decade, most Baby Boomers will have moved
on from their primary roles into retirement or started a second career.
Those vacated Baby Boomer jobs and management roles will create
opportunities for Gen X and Millennials. For Baby Boomers who aren’t
ready to retire, they may start their own business or rejoin the workforce
in a new capacity and compete with younger workers.
It will also mean that, moving forward, your boss may be younger and have
less overall work experience than you.
In the next decade, most Baby Boomers will have retired or moved on to their “second act”3
With each generation, more women are gaining education and training to expand their opportunities4
Women have made great strides in attaining higher education and increasing
their participation in the U.S. workforce (Pew Research Center, 2015). Women
comprise nearly 50% of the total U.S. labor force. Nearly 52% of the most
highly compensated management and professional jobs are now held by
females. However, women lag behind men at all levels of senior leadership
(i.e., board of directors, CEO, C-suite positions, and other executive-level roles).
As the number of women in roles historically held by men grows, and more
women join the leadership ranks, their values will begin to have increasing
influence in the workplace.
While historical events and the economy have played a role in shaping most of
our perspectives, the ideal of the “American Dream” is still meaningful for the
majority of Americans. My study also found that belief in the American Dream
was positively correlated with career outlook.
Percentage of Americans by generational group who believe the American
Dream is still achievable*:
Gen Zers: 95%
Gen Xers: 83%
Gen Yers: 88%
Baby Boomers: 80%
*Based on study results, n=1,000
Most people still believe in the American Dream5
6
Generation Group Top ranked aspect of the American Dream
Baby Boomer Financial security
Gen X Financial security
Millennials (Gen Y) Being able to achieve goals
Gen Z Being able to achieve goals
Knowing that how people feel about attainment of the American Dream can
influence their career outlook, I sought to better understand perceptions of the
American Dream. I asked 1,000 participants to rank six concepts – being able to
achieve goals, financial security, ability to pursue education, freedom of speech,
building a legacy, and home ownership – based on how important they are to
their vision of the American Dream.
The most important aspects of the American Dream vary by generation group: Gen X and Baby Boomers want financial security; Gen Y and Gen Z want to be able to achieve their goals
The data suggest that Gen X and Baby Boomers prioritize being able to have the
resources necessary to have stable lives, perhaps based on what they have
invested in their careers and the resources saved over the course of their
careers.
Generation Z and Millennials (e.g., Gen Y) want to be reassured that if they put
in the effort to pursue a goal, their hard work will pay off or be rewarded.
As we grow and develop and assume more responsibilities during our
careers, typically we encounter some type of trade-off. It could be a choice
between more income or less free time.
When examining work-life balance and promotions, my study found that
work-life balance is more important than getting a promotion for Gen X, Gen
Y, and Gen Z.
Baby Boomers ranked getting a promotion as more important than having
work-life balance.
The younger generations prefer work-life balance over getting a promotion7
In my recent study, career ranked near the bottom of the list of priorities
for most Millennials. The rankings, from most important to least important,
were:
1. Relationships
2. Happiness
3. Health
4. Finances
5. Career
6. Faith
Career is not the most important ranked personal value for Millennials8
Participants were asked to rank six personal concepts—career, relationships with family and friends, financial security, faith, health, and happiness—in order of importance to them.
Relationships tend to be the number one personal value for women of all generation groups9
Generation Group Women Men
Baby Boomer Relationships Relationships
Gen X Relationships Health
Millennials (Gen Y) Relationships Relationships
Gen Z Relationships Happiness
Our values define what is important to us and help guide our behaviors. When
asked to choose what was most important to them in their life right now from a
personal perspective, women selected relationships.
Participants were asked to rank six personal concepts—career, relationships with
family and friends, financial security, faith, health, and relationships—in order of
importance to them.
Everyone has something to offer10There is a great deal of conversation about the negative aspects of the
various generation gaps. However, there are many positive sentiments too.
The key to unlocking that potential is to get to know, embrace, and
support the generational identities that make up today’s multigenerational
workplace.
I had to remind myself many times in the last couple of decades that I can’t be frustrated with my 25-year-old employees for not being 50 years old. I have to allow them to be 25 and allow and acknowledge that they are still learning. - Gen X Male
I guess I would be considered a millennial…. I feel like they get a bad rap, personally. If people make comments, I try to remind them that most generations prior had the same reputation. - Gen Y Female
Learn more…..
Generation Z in the Workplace: Helping the Newest Generation in the Workforce Build Successful Working Relationships and Career Paths
By Dr. Candace Steele Flippin
Available online at www.candacesteeleflippin.com