On Thursday, February 11th, WTIA hosted a “Multigenerational Leadership” discussion to share best practices on how to keep a multigenerational workforce productive and harmonious.

Panelists included Liz Tinkham, Senior Managing Director of Accenture, Liz Pearce, CEO of Liquid Planner, Leen Kawas, CEO and President of M3 Biotechnology Inc., and as moderator, Anna Liotta, best-selling author of “Unlocking the Generational Codes.“

Four Generations Working Side-by-Side

To start the discussion, Anna Liotta shared a brief presentation about today’s workplace demographics that span four ‘generations’:

•      Traditionalists (born 1927-1945)
•      Baby Boomers (born 1946-1964)
•      Gen Xers (born 1965-1976)
•      Millennials (born 1977-1994)

Panelists Liz Tinkham, Liz Pearce, and Leen Kawas represented Baby Boomers, Gen Xers, and Millennial generations, respectively.

What did we learn?

There’s no one-size-fits-all solution for multigenerational management. Each generation comes to the workplace with a distinct set of values, attitudes, behaviors, priorities, and communication styles. Case in point: Millennials value freedom and flexibility at work and prefer texting and social networks while Baby Boomers value job security and loyalty, prefer face-to-face discussion and telephone communication. Accordingly, management teams have to rethink hiring practices, managing styles, rewards, training, and retention of their employees.

“… retention program(s) should be customized for every single candidate.”

“In my company, we normally do feedback session every two weeks as well as provide training and development plans frequently. We also offer extra days off and work-from-home policy.”

“Gen-Xers can be the glue for the Boomers and the Millennials with the ability to see both sides and act accordingly.”

Liz Pearce

One of the most challenging aspects of managing multiple generations in the workplace is getting each group to respect the unique talents and skills of the other. Best practice is to conduct regular training sessions for all employees to help each generation to understand each other and to work more effectively together.

“The fast-moving technology industry makes (tech-savvy) Millennials dominant. We need to create the team energy and workplace culture that embrace the differences of all genders and ages.”

Leen Kawas

How to Work with Millennials

I was surprised to hear some of the terms that came to mind when older people think of our generation: they demand too much—they want half the dedicated time and double the pay—expect too many kudos, they feel entitled, and they’re tech-obsessed.

This Millennial’s point of view? We need to overcome the existing negative stereotypes like, “They’re only in it for themselves” or “Older workers can’t learn technology.” Because of those misunderstandings and multigenerational judgments, conflicts in the workplace are bound to arise, especially as Millennials assume management roles. The key is to maintain a healthy dose of the experience and knowledge that older workers bring to the table and the tech skills, enthusiasm, and willingness of younger workers.

Millennials grew up seeing the world as global, connected, and 24/7. Their parents always put them first, acted as their advocates and society tends to compliment them frequently. They are tech-savvy, full of energy, passionate and deeply understand how the digital era works. However, their lack of management experience and effective mentorship may lead to a disconnect and create a negative impact on a company’s culture when dealing with Baby Boomers and Gen-Xers.

“Millennials are always fascinated by themselves, but they constantly seek for answers about career development. They need a career GPS.”

Anna Liotta

During the Q&A session, there were two big questions raised:

•      How do you give feedback to a Millennial?
•      What is the impact of the Millennials in the company?

The answers? Flexibility and the right kind of feedback are always the key. Be honest and constructive. As Anna Liotta advised, we can start the feedback session by asking them “Are you open for some coaching?”

To create a rich mix of a multigenerational workforce that will benefit the company in terms of a diversified culture and sustainability, managers need to recognize the nuances of each generation’s characteristics and encourage them to operate at their particular level best. At the end of the day people all want the same things at work: recognition and reward for their performance, the sense of engagement with their team and company’s goals, and appropriate feedback that motivates them to work harder and to be better.

Check out our events page for more exciting upcoming events at the WTIA. We hope to see you soon!