A one-size-fits-all approach does not work
You’ve heard the buzz. 80% of company strategies are not being fully executed or getting the intended results. Here’s why:
- Baby Boomers are exiting the workforce in record numbers, taking years of experience with them.
- It’s becoming more difficult to attract and retain other generations, creating tremendous pressure on the talent pipeline.
- Companies themselves are changing due to the most diverse, multigenerational workforce in history.
Over the years we’ve learned that a one-size-fits-all approach does not work in a multigenerational world. To accelerate leadership and performance, behaviors must change!
The most effective leaders understand how to adjust their leadership style to leverage the strengths of everyone in their workforce.
Sure, you know that each generation has something valuable to offer. But did you know that the unique strengths and core values of each group greatly impact the execution of your business strategy? And that key differences that affect how they think, work, and communicate with one another can create gaps in the way your organization functions?
Assess your Generational Gaps
To reliably deliver on strategy execution, companies must assess the generational gaps that exist. Start by identifying the pain points of each generation, prioritize areas of opportunity, and align and prepare leaders to act on the most pressing issues.
The risk of not actively addressing the gaps that exist in a multigenerational workforce can be huge. It can make or break the execution of your strategic plan. And increase the cost of doing business. What’s more, it can:
- Slow down the implementation of your business strategy
- Impede the decision-making process
- Increase turnover rates
- Reduce productivity
- Negatively impact the talent pipeline
Remember, Traditionalists and Baby Boomers have accumulated over 30 years of experience and have had, by today’s standards, the luxury of learning and growing into leadership positions at a slower pace. As they retire, companies must accelerate the talent pipeline and tap leaders from both the Gen X and Millennial generations. These younger, less experienced individuals may or may not be perceived as ready and able to assume leadership roles.
Planning for and making a successful transition requires a change in behavior from top leadership down and a focus on recognizing, valuing, and fully leveraging the strengths of each generation in the workforce.
When you create an environment where everyone feels valued and respected, your organization benefits. All generations contribute to the work being done. And your business strategy can be executed as planned.
To learn more about leveraging the power of a multigenerational workforce, download and share the infographic that illustrates What Each Generation Gives, Gets, Gains.