Tag Archives: Boomer

How Do You Best Manage a Multi-generational Staff? Five Suggestions

Situation:  Employee pools are now multi-generational, with Baby Boomers, Gen X, Gen Y/Millennials and Echo-Boomers. Each group often has different expectations regarding work environments and careers. How do you connect with different generations? How do you best manage a multi-generational staff?

Advice from the CEOs:

  • People may be of different generations but they are still individuals. Ask what drives or motivates them. What they would consider an ideal reward for hard work?
  • Some companies offer a sabbatical after several years of employment – the opportunity to work on hobbies, go on an adventure or use the time as they wish. This attracts employees and encourages retention.
  • Some employees don’t seek promotion but are good contributors. They may prefer an extra week of vacation over a promotion.
  • One company gives employees budgets to spruce up their work space – allowing them some control over their work environment.
  • What are good tips on working with younger employees? Coach them to communicate thoughtfully and carefully – instead of shooting from the hip without considering impact or consequences. Bring them into the process; don’t tell them to wait. Let them start as an observer. Listen when they have questions or suggestions. Ask their opinion. Younger managers may find that they need more patience communicating expectations to older staff. Establish individualized performance metrics and enable them to monitor progress on their computers. Break down job tiers into additional levels with more achievement incentives. Allow them to reset expectations frequently.

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How Do Business Prospects Look for 2015-16? Six Observations

Situation: A CEO is planning for 2015-16. While the economy seems to be picking up, there are clouds on the horizon. Do you believe the positive indicators? How do business prospects look for 2015-16?

Advice from the CEOs:

  • Company A: Based on our pipeline we should be recruiting heavily. However we are being conservative and are only adding personnel selectively.
  • Company B: We expect 2015 to be modestly better than the last few years. Engineering saw a turnaround this summer; however we need to see signs that this early economic cycle work spreads more broadly to the rest of the economy.
  • Company C: Some of our development work looks like a spike due to delayed projects. This may not be sustainable.
  • Company D: Weakness in Europe and the recent announcement that Japan has entered another recession give us caution about international prospects.
  • Increasing numbers of Baby-Boomers are retiring. However, some statistics suggest that 60% of retired boomers will be living on Social Security, meaning that they will struggle to make ends meet. This could create a negative shift in consumer spending.
  • The current stock market rally is based on the higher profitability of large public companies. This has come about as a result of two factors: recessionary cutbacks and easy money from the Federal Reserve. What we may be seeing is a Fed–funded bubble. There is a question of its sustainability.
  • Implications for business:
    • For companies doing business internationally – the lower dollar helps.
    • Cautious additions to employment/investment.
    • Need to deal with inflation if the recovery accelerates.
    • If and when the recovery accelerates, employee retention may become a challenge.

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How do you Manage a Multi-generational Staff? Nine Suggestions

Situation:  Employee pools are now multi-generational, with Baby Boomers, Gen X, Gen Y and Echo-Boomers. Each group may have different expectations for work environments and careers. How do you connect with different generations? How have you set up mentoring programs?

Advice from the CEOs:

  • People may be of different generations, but they are still individuals. Ask what drives or motivates them, and what they would consider an ideal reward for hard work.
  • Some companies offer a sabbatical after several years of employment – the opportunity to work on hobbies, go on an adventure or use the time as they wish. This attracts employees and encourages retention.
  • Some employees don’t seek promotion but are good contributors. They may prefer an extra week of vacation over a promotion.
  • One company gives employees budgets to spruce up their work space – allowing them some control over their work environment.
  • What are good tips on working with younger employees?
    • Coach them to communicate thoughtfully and carefully – instead of shooting from the hip without considering impact or consequences. Younger managers may find that they need more patience communicating expectations to older staff.
    • Establish individualized performance metrics and enable them to monitor progress on their computers.
    • Bring them into the process; don’t tell them to wait. Let them start as an observer. Listen when they have questions or suggestions. Ask their opinion.
    • Break down job tiers into additional levels with more achievement incentives. Allow them to reset expectations frequently.

Key Words: Multi-generational, Boomer, Gen X, Gen Y, Echo-Boomer, Expectations, Environment, Career, Mentor, Motivation, Reward, Sabbatical, Incentive, Communication, Performance, Expectations                                   [like]