Monday, April 3, 2017

Managers must address multi- generational issues to retain top talent - SCMP

by Henrick Bresman and Vinika Rao
Originally published: March 31, 2017
Publisher: SCMP.com 

As the high schoolers who constitute Generation Z prepare for their year-end examinations, they may be unaware of the concern they are causing in boardrooms across the globe. CEOs are questioning human resources (HR) departments on their “Gen Z readiness” – how prepared their companies are to start attracting, managing and retaining this new generation that is poised to enter the workforce in a few short years.

What makes the challenge more daunting is that they will be joining three, perhaps even four, other generations in the workforce: Gen Y or millennials, Gen X, Baby Boomers and Traditionalists.

As older workers delay their retirement age, they are faced with having younger bosses, whose digital skills are becoming at least as important as the loyalty or experience of their older colleagues. For the younger workers, fighting the many myths perpetuated about their generation’s purported laziness, sense of entitlement, need for constant advancement among other issues, is an unnecessary burden to counter. Generational stereotypes and tensions abound.