A Product of Our Past
Understanding how generational gaps affect the success of business and industry is quickly becoming an important issue. Everyone is talking about Generation X & Y. The fact is that 56% of all national leaders are Baby Boomers. The Boomers Group (of which I am a member) fall into two groups. Those born 1946-1955 and those born 1956-1964. They are sometimes distinguished from each other by the events they witnessed and the times they lived through. The first half are sometimes viewed as more individualistic and the second less optimistic and a bit more cynical.
Here is the news flash...There are 76 million boomers. The AARP reports that there will be 77.5 million vacating the work force over the next five years....that includes the generation before the Boomers, "The Traditionalists". There are only 46 million coming behind them as potential replacements. These numbers reflect why the business community needs to be concerned about the brain drain across every business sector especially in the ranks of leadership.
The key questions become:
1. How can companies manage the brain drain?
2. How can companies become the employers of choice for 46 million Gen X and Gen Y entering the workforce?
3. How do companies effectively work with and manage the merging of minds between Baby Boomers, Generation X and Generation Y?
A generation is shaped by the events and circumstances it's members experience at certain phases in life, beginning with childhood. Common generational traits initially develop as a result of social attitudes towards children and child rearing norms at the time people are growing up.
Understanding the differences is first and foremost. It's simply a matter of certain behaviors being more typical to particular groups. Still, Boomers think Gen X needs a better work ethic and at the same time Gen X thinks there work ethic is fine. Gen Y thinks the differences in perceived work ethic is a general cause of friction.
Companies need make deliberate efforts to address these differences and incorporate them into their business planning process. What plan you ask? Are these ideas new to you? Get used to the idea that when we fail to plan we plan to fail. Begin to give serious consideration regarding how you will begin dealing with these challenges in your organization....if you haven't already.
Wes Wingfield is a Certified Business Coach and the President of Highest Ambition LLC, a Kansas City based organizational development company that specializes in leadership development, strategic planning and executive coaching; delivering what his clients want with a return on their investment. www.highestambition.com phone 816-589-6138 or write him at wes.wingfield@highestambition.com
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