The current climate?
The coexistence of multiple generations in a business creates challenges around communication, values, characteristics and expectations which can impact retention, motivation and productivity. And, with many Gen Z’s off to the mainland for the opportunities and excitement offered, this places further importance on strategies to acquire and retain a diverse workforce…
Whilst everyone will have their own individual characteristics it may be helpful to consider typical generational characteristics and values according to research, for example:
Baby boomers – independent from technology; autonomy, work-life balance, flexibility; enjoy charity and environmental sustainability.
Generation X – individualistic; risk-tolerant; entrepreneurial; visionary; work-life balance; flexible
Millennials – born and raised in digital era; flexibility, security and health; eco-aware and socially concerned; collaborative whilst valuing autonomy; determined
Generation Z – digital natives; focus on social justice, activism; authenticity, personised experiences; financial freedom.
Considerations?
Autonomy!
Ask them – people are the experts in knowing what they themselves want. Consider having Gen Z’s in meetings to share their perspectives, reverse mentoring, focus groups, or surveys. It’s essential to understand impressions made following business decisions and actions.
Diversity and Inclusivity!
With many companies readily publishing diversity statements, more is needed to illustrate commitment and actions to ensure adoption of inclusive practices. Each generation may have different views as to how this is addressed. Creating opportunities to share ideas and perspectives will ensure employees feel heard, valued and respected.
Growth mindset and lifelong learning!
With each generation bringing their own sets of skills, cross-generational and reverse-mentoring will facilitate life-long L&D. Workshops promote a collaborative learning-environment across generations to develop and achieve improved performance. Facilitate ownership of learning journeys by communicating budgets and encouraging employees to research areas they want to develop, request training for personal and professional endeavours, and set personalised performance metrics. Invest in coaching and mentoring, ensuring an age-inclusive approach.
Diversity of communication style!
Where baby boomers may still prefer in-person interactions; millennials and Gen X may instead prefer an email or phone call; and Gen Z’s may be more engaged by instant messaging or video messages (plus video’s add a personal touch, beneficial for hybrid and WFH environments). Whilst all methods have their pros and cons… employers should consider multiple channels and tailor their choice of communication delivery depending on the generation.
Culture building!
Culture is a significant workplace motivation – a recent survey found when looking for new jobs, 54% prioritised it! 27% opted for flexible working, 13% went for the package, and 6% went for pay.
A strong company culture reflects management and leadership styles, a (mutual) L&D strategy, team relationships, a community-feel, engagement practices, and more. A culture of trust and flexibility is key, and people want to know they align with the company values and see them reflected in the company.
Increasing collaboration and getting to know your team can break down subconscious stereotyping. For example, the stereotype ‘snowflake generation’ presents a communication barrier due to fear of creating tensions and stressors; yet other research notes the generation’s resilience. By facilitating regular check-ins, employees will build relationships and subsequently be less afraid to take risks – a KPI resulting in job satisfaction and retention.
Total Reward Package!
Whilst the cost implications of trying to provide for all cannot be ignored; a ‘felt-fairness’ approach is key to understanding motivations when developing benefits and reward policy. Whilst an employer may think the benefit is good, is it guaranteed an employee will feel it is fair?
Depending on the varying seasons of life, people will be attracted to different benefits. With younger generations prioritising career and skills development, the previous valuing flexibility and family friendly policies, and baby-boomers prioritising stability; introducing a flexi-benefits package with a range of options to choose from will ensure satisfaction and commitment.
Now what?
To navigate the volatile, uncertain, complex and ambiguous world of work, businesses need to foster an engaged workforce to ensure productivity and high performance.
· look at your workforce demographics (is this something you track or not? Perhaps it’s now one to add to the list)
· get to know your workforce and understand their needs, expectations and values
· assess your current strategies for employee engagement. Are you equipping your managers with the skills to manage a multigenerational workforce? What strategies are you currently executing? What does and doesn’t work well in your talent management?
· take a proactive approach to talent acquisition, engagement, reward and retention using the tips in this blog.
For support in your talent acquisition and retention strategies, contact your consultant or hello@hrnow.je and we will provide you with advice on how to implement any or all the above depending on your current business situation and direction.