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IMI Multigenerational Workforce
IMI Multigenerational Workforce
INTRODUCTION:
THE MULTIGENERATIONAL WORKFORCE
CHAPTER 1:
COLLABORATION AND KNOWLEDGE SHARING ACROSS GENERATIONS
CHAPTER 2:
MANAGING DIFFERENT GENERATIONS
CONCLUSIONS:
WE ARE ALL INDIVIDUALS
2
INTRODUCTION
INTRODUCTION – 01
INTRODUCTION THE
GENERATIONAL MYTH – 03
CHAPTER 1: COLLABORATION
AND KNOWLEDGE SHARING
ACROSS GENERATIONS – 6
60% OF MILLENIALS
FEEL THEY HAVE LESS CHAPTER 2: MANAGING
DIFFERENT GENERATIONS – 14
JOB SECURITY THEN SUMMARY LEADERSHIP
THEIR PARENTS. QUESTIONS – 19
2
INTRODUCTION
The INTRODUCTION – 01
Myth
GENERATIONAL MYTH – 03
INTRODUCTION – 01
60%
OF WORKERS REPORTED
INTRODUCTION THE
GENERATIONAL MYTH – 03
CHALLENGES
CHAPTER 1: COLLABORATION
AND KNOWLEDGE SHARING
ACROSS GENERATIONS – 6
CHAPTER 2: MANAGING
DIFFERENT GENERATIONS – 14
SUMMARY LEADERSHIP
QUESTIONS – 19
CONCLUSIONS – 20
4
INTRODUCTION:
THE KEY CHALLENGES
INTRODUCTION – 01
INTRODUCTION THE
COLLABORATION CHALLENGES – 05
AND KNOWLEDGE
CHAPTER 1: COLLABORATION
AND KNOWLEDGE SHARING
ACROSS GENERATIONS – 6
GENERATIONS
DIFFERENT GENERATIONS – 14
SUMMARY LEADERSHIP
QUESTIONS – 19
CONCLUSIONS – 20
6
CHAPTER 1:
COLLABORATION AND KNOWLEDGE SHARING ACROSS GENERATIONS
+10%
cross-section of ages registered a 10%
increase in happiness levels compared with
INTRODUCTION THE KEY
those who only work with their peers. Out of CHALLENGES – 05
a sample of 1,000 McDonald’s customers, the
majority (84%) said they like to see a mix of CHAPTER 1: COLLABORATION
ages in the restaurant team, and most (60%) AND KNOWLEDGE SHARING
expected better service as a result. ACROSS GENERATIONS – 6
Collaboration among older and younger
CHAPTER 2: MANAGING
EMPLOYEES WORKING WITH workers in the workplace has also been
found to boost the cognitive performance of DIFFERENT GENERATIONS – 14
MULTIPLE AGE GROUPS older adults and help foster positive social
REPORT A 10% INCREASE IN behaviour and a lack of egocentrism in
younger adults.
SUMMARY LEADERSHIP
QUESTIONS – 19
HAPPINESS COMPARED TO What are the differences in outcomes – such
THOSE WHO ONLY WORK as the decisions made by a collaborative CONCLUSIONS – 20
WITH THEIR PEERS. group – when you have a mixed age team?
80%
AND GEOGRAPHY:
DIFFERENT GENERATIONS – 14
87% Research shows that the answer is
straightforward: more diverse voices means
SUMMARY LEADERSHIP
ALL-MALE more perspectives, which leads to better
TEAMS: refined and more creative innovations. As QUESTIONS – 19
8
CHAPTER 1:
COLLABORATION AND KNOWLEDGE SHARING ACROSS GENERATIONS
example, are not fundamentally different than baby ORGANIZATION FOR INTRODUCTION THE
GENERATIONAL MYTH – 03
boomers, we can say that both generations have had
different experiences.
MORE THAN FIVE
These differing experiences result in (current) skill levels in YEARS ARE TWICE INTRODUCTION THE KEY
certain areas being significantly different, and their frame
of references also being different. To close this natural gap,
AS LIKELY TO HAVE CHALLENGES – 05
many organisations are implementing reverse or reciprocal A MENTOR (68%) CHAPTER 1: COLLABORATION
mentoring.
THAN NOT (32%). AND KNOWLEDGE SHARING
As the name implies, reverse mentoring is the concept of a ACROSS GENERATIONS – 6
younger employee teaching a senior leader, typically in the Deloitte Millennial Survey, 2016
areas of new and emerging technologies. This allows the CHAPTER 2: MANAGING
senior leader to experiment and apply that learning to key
DIFFERENT GENERATIONS – 14
business challenges. Reciprocal mentoring takes it a step
further, becoming an exchange of new learnings for old
experiences. SUMMARY LEADERSHIP
When he was CEO at GE, Jack Welch was one of the early
QUESTIONS – 19
adopters of reverse mentoring – first doing it himself
with a junior employee before rolling it out to 500 of his CONCLUSIONS – 20
executives. HP, Cisco and Coca-Cola are other companies
that have initiated reverse mentoring programmes.
10
CHAPTER 1:
COLLABORATION AND KNOWLEDGE SHARING ACROSS GENERATIONS
REVERSE AND
SENIOR LEADERS
RECIPROCAL CAN BEGIN THEIR INTRODUCTION – 01
MENTORING: THE OWN EXPERIMENT INTRODUCTION THE
GROUND RULES IN REVERSE GENERATIONAL MYTH – 03
MENTORING BY
Mentoring is a powerful
development tool (rightly) being
FOLLOWING THESE INTRODUCTION THE KEY
used by businesses today. SIMPLE STEPS: CHALLENGES – 05
Any successful mentoring
CHAPTER 1: COLLABORATION
programme will have a strongly
defined purpose and a set of AND KNOWLEDGE SHARING
ground rules to follow. Just as ACROSS GENERATIONS – 6
importantly, it should be flexible
enough to change as it becomes 1 Make a list of 5 things you do not know but need to know. CHAPTER 2: MANAGING
more unique to your DIFFERENT GENERATIONS – 14
organisation. 2 Identify 1 or 2 items from the list that you are most likely
not to learn on your own or during your course of work.
3 Identify a junior colleague that has the expertise you need. SUMMARY LEADERSHIP
QUESTIONS – 19
4 Ask the junior colleague to mentor you.
12
CHAPTER 1:
COLLABORATION AND KNOWLEDGE SHARING ACROSS GENERATIONS
A PERSON
WHO IS 40 2.1X
IS
AS LIKELY
TO FOUND A
SUCCESSFUL
INTRODUCTION – 01
INTRODUCTION THE
GENERATIONAL MYTH – 03
START-UP AS
A PERSON INTRODUCTION THE KEY
WHO IS CHALLENGES – 05
25
“How Old are Successful Tech
CHAPTER 1: COLLABORATION
AND KNOWLEDGE SHARING
ACROSS GENERATIONS – 6
CHAPTER 2: MANAGING
Entrepreneurs?”, Kellogg, 2018
DIFFERENT GENERATIONS – 14
SUMMARY LEADERSHIP
QUESTIONS – 19
CONCLUSIONS – 20
INTRODUCTION – 01
INTRODUCTION THE
GENERATIONAL MYTH – 03
CHAPTER 1: COLLABORATION
AND KNOWLEDGE SHARING
ACROSS GENERATIONS – 6
DIFFERENT
QUESTIONS – 19
CONCLUSIONS – 20
GENERATIONS
14
CHAPTER 2:
MANAGING DIFFERENT GENERATIONS
INTRODUCTION – 01
HELPS OTHERS INTRODUCTION THE
LEADS BY SEE HOW
THEIR ROLES GENERATIONAL MYTH – 03
EXAMPLE
CONTRIBUTE
TO THE INTRODUCTION THE KEY
ORGANISATION CHALLENGES – 05
CHAPTER 1: COLLABORATION
AND KNOWLEDGE SHARING
16
CHAPTER 2:
MANAGING DIFFERENT GENERATIONS
MANAGING THE
TRANSITIONS “THE PEOPLE WHO WORK FOR YOU
AREN’T BUILDING A COMPANY FOR YOU, INTRODUCTION – 01
Age is but a number, but sometimes that THEY ARE BUILDING IT FOR THEMSELVES
INTRODUCTION THE
number is significant. It can be significant – THEY ARE THE CENTER OF THEIR OWN GENERATIONAL MYTH – 03
factually, such as a year before retirement UNIVERSE. JUST BECAUSE YOU ARE THE
age, or psychologically, such as being 39 CEO, DOESN’T MEAN THEY ARE COMING
years old (an age people typically take stock INTRODUCTION THE KEY
TO WORK EVERY DAY TO MAKE YOU
of their life). CHALLENGES – 05
HAPPY. THEY WANT TO BE HAPPY AND
Just like the individualisation of rewards and
IT’S YOUR JOB TO KEEP THEM THAT WAY.” CHAPTER 1: COLLABORATION
incentives mentioned in the previous section,
organisations should be aware of the life- Ben Lerer, Thrillist AND KNOWLEDGE SHARING
changing decisions being made by their ACROSS GENERATIONS – 6
employees all the time. From hiring through
to promotion (and firing), a company really CHAPTER 2: MANAGING
looking to engage its workforce will look for
DIFFERENT GENERATIONS – 14
positive touchpoints around those key dates.
For example, your company may get a cake
SUMMARY LEADERSHIP
for an employee’s birthday, but are they
then asked what they want to do for the QUESTIONS – 19
next year? As a new year approaches and
people might be thinking of switching jobs, CONCLUSIONS – 20
is your management team projecting a clear,
exciting vision for people to follow?
18
THE MULTIGENERATIONAL WORKFORCE
SUMMARY LEADERSHIP
QUESTIONS INTRODUCTION – 01
CONCLUSION
Leading a diverse workforce through
a time of change is a challenge for all
senior executives, but it is also a critical
INDIVIDUALS
focussed method of moving up in an GENERATIONAL MYTH – 03
organisation is largely over, and this shift
will inevitably cause tensions. However, it
will also unleash a boom in innovation and INTRODUCTION THE KEY
new thinking as different ideas get mixed CHALLENGES – 05
together and put into action.
For senior leaders today, capturing this CHAPTER 1: COLLABORATION
transition and creating a truly engaged AND KNOWLEDGE SHARING
workforce across generations will give them ACROSS GENERATIONS – 6
a head start in the race to capture new and
expanding markets in this still emerging CHAPTER 2: MANAGING
digital economy. As our marketing arms
DIFFERENT GENERATIONS – 14
move towards hyper-personalisation for our
customers, so should our HR department
move towards hyper-personalisation of our SUMMARY LEADERSHIP
employees. QUESTIONS – 19
After all, we are all individuals.
CONCLUSIONS – 20
20
Senior
High-