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Generation What?
When we think of the changes made to the world economy over the
past century, defining a generation’s contribution to this
economy may now be as important an influence as transnational
trade agreements
and the Internet. Each succeeding generation is more information-age-savvy
as the generation before them. Generation Y is far more prepared
for techno advances than both Generation X and the Boomers.
Yet the Boomers have the wisdom of witnessing transformation
and the landmark events that led to globalization. They possess
a point of reference that would be lost on Generation Z, the
so-called “millenials”, who are already entrenched
in the global age.
How do the generations get along in the workplace? How does the generational
dislocation between wisdom and agility function harmoniously?
The Baby Boomers - the largest demographic group of our time - indicate
economic boom and the radically changing ideologies that have
occurred in the last part of the 20th Century. Generation X, however, indicates
an uncertainty that reflects economic recession, along with the
added pressures
of internationalization and new trends in outsourcing production.
Generations Y and Z must contend with the projected 2015 skilled-labor-force-shortage.
Demographic Diversity
Recent studies indicate shifts in the way each generation responds
to the pressure of the workforce. For instance, Sean Foley, a researcher
at Carleton University, found that the Boomers tended to view work in
terms of its societal effects. Succeeding generations, however, view
work in terms of its personal effects. According to a National Post interview
(Jan 31, 2005), Foley goes on to say that “Baby boomers value experience,
because that’s what they have; Gen-Xers value education because
that’s what they have; and the next generations value technological
savvy and streets smarts and creativity because that’s what they
have.” Demographic diversity in the workplace will ultimately challenge
the way businesses hire and maintain their workforce.
In short, businesses must adapt management structures in light of changing
markets and a changing workforce. Business trends show that human
resources and people issues are dominating the workplace more then ever.
Whether
it is offering a better work environment or educational opportunity,
employee retention is no longer dependent on just salary and bonuses. Researcher
and Carleton University professor, Linda Duxbury found that the
generation
that she calls the “Millennials” don’t worry like the
Boomers did about raises and bonuses. They want jobs that will
suit their needs. They are what she refers to as the “show-me-what-you-can-do-for-me-generation.”
Human Value
Talent retention known as “The Talent Wars” play a large role
in ensuring that businesses can keep their young technical savvy workforce..
Recent studies by Accenture show that 68% of global businesses
feel that retaining talent is an important part of good business. David
Clinton with
Accenture notes that people are the key competitive factor for
today’s
global world and the digital economy.
When I asked a young and talented “Millennial” friend working
for Rockstar Games (the gaming company that created the top selling video
game Grand Theft Auto) how he views the workplace, similar thoughts surface:
necessary talent is on short order; it is a struggle to find and maintain
the kind of talent that progressive companies need; and the workplace contains
significant pressure to succeed for the sake of the team. “You work
long hours, under your own rules for the benefit of your team and the project
at hand,” he told me.
However, the new pressures of the “digital age” are not without
its drawbacks. Harvard researchers, Wendy Fischman, Becca Solomon, Deborah
Greenspan, and faculty member Howard Gardner working on The GoodWork Project
find that there is also a disjuncture between work place ethics between
the generations. The project concludes that while the Boomers have a more
stalwart understanding of workplace ethics, younger generations find that
the competitive work force and high expectations often mean “bending
the rules” to get the job done. This means not necessarily breaking
the rules, but trying to accommodate to the pressures of a changing workplace.
The bringing together of the generations, the digital age, and changing
ideologies of the millennium are certainly changing the ways in which business
is conducted. Despite what is referred to as technical-savvy talent, there
is greater weight put on understanding people who can perform, rather than
the technologies themselves.
Series 2 of Generation X, Why and Because will look into specific
management strategies of the digital age.
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