Academy Of Profits

Introduction

The extent of change that the planet has experienced over the past 50 years is a staggeringly high amount, and the pace at which many of these changes have come about is no less impressive.

One area of life that has not escaped these vast changes is the business world. Modern businesses may operate within the same underlying principles of profitability that have governed business since it started, but many of the traits of a successful company trading in the modern arena would seem foreign to businesses from years gone by.

An interesting issue that modern businesses face is how to manage the different generations of people who make up their workforce.

This is partly due to the ever increasing life expectancy of humans, particularly in first world countries, which consequently prompts an ever increasing retirement age. As people work to a later point in their lives, they may stay with the same company into their late 60’s or early 70’s, and often as hands- on workers rather than simply sitting on the board.

There is also a demand for a more diverse set of skills in the progressive business climate, triggered largely due to the swift development and wide reach of computer technology. Corporate processes, both internal and external, have undergone radical changes which require a fresh way of thinking. These modern ways of thinking are most commonly found within the younger working generation.

Problems

One of the most typical problems that face a modern enterprise that is operating with a number of different generations in its workforce is related to technology. Computer systems are commonplace in our lives nowadays and they form a pivotal piece of the corporate puzzle.

There are also generational issues when it comes to external business aspects such as the law. New laws and business best practices are emerging all of the time and critical business decision makers need to be aware of any that apply to their company.

Outside of this, there can be communication problems between different generations of employee, physical limitations of the older personnel in an organisation and the need to fulfil a range of diverse needs and aspirations to keep an entire workforce happy.

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The Generations

The need to handle generations in the work environment may seem like an unneeded task, but the differences between the generations of worker that are often found in business are worthwhile taking note of.

Traditionals

Mature, or “traditional”, employees are the oldest that would be found in a modern business environment. They’re the people who were born before the Second World War, and will be in their late 60’s or early 70’s.

Their approach to industry and life in general is one of organisation and obedience. They were expected to make personal sacrifices for the greater good, and whilst this belief was nurtured under the shadow of a global conflict, many of the older generation still harbour this opinion nowadays.

Since many of the mature generation will hold senior positions within a company their views and opinions will generally carry greater weight than those of younger generations. Their judgements will often be fundamental to the business and sculpt the future success or failure of the business.

Baby Boomers

The Baby Boomer generation includes those born between the end of the war and the mid- 60’s, when there was a general down turn in the birth rate around the world. Baby Boomers will be aged between 45 and 65 roughly speaking and are likely to form the vast majority of management roles within a modern company.

This generation grew up without a lot of the oppression and discipline that was more normal amongst earlier generations. They are an aspirational collection of people that are very family- oriented.

When it comes to the work environment, this group of workers will frequently be able to grasp the bigger picture while still maintaining a grip on modern advances in terms of technologies and business processes. Their family- oriented character tends to see them working well in teams, although it is often observed that they are not comfortable when taking criticism(no matter how helpful) , and they are not good at giving feedback to other employees.

Generation X

Members of Generation X were born between the mid- 60’s and the late- 70’s. They will be currently aged between 30 and 45 and will be spread amongst the various levels of management within a contemporary business.

Socially they grew up in extremely demanding times. Careers were an ever more important and defining part of people’s lives and this was pointed out to Generation X from a very young age. Many will have worked up through lower and higher education prior to working their way up within one or maybe two companies. They are expected to work long and hard hours and frequently both parties in a marriage or relationship will have jobs.

As such, they are often very good at problem solving and achieving short- term objectives but can struggle to grasp how their contribution affects the big picture. They will be motivated by monetary benefits rather than a sense of duty since they feel they have paid their dues through a life of learning and work. Generation X need close management to ensure their effective contribution to the organisation.

Generation NeXt

This generation were born after 1980 and are the youngest collection of people currently at work. They have borne witness to a changing social climate where being an extravert is rarely frowned upon. They are most open to radical concepts and procedures and find hyper- consumerism and relatively competitive promotion to be second nature.

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The Working Environment

Technology

We are all familiar with the gap between the older generations and modern technological equipment. Whether it is a parent struggling to operate a new mobile phone, or a grandparent being truly confused about what the world wide web is, the void between the old and the new is made very apparent when it comes to technology.

In regards to the newer business, problems involving technology can have very far reaching implications. Computers are critical to many aspects of business, from managing payroll, to perform core tasks and even providing a route for marketing. As such, an employee who’s not familiar with the systems being used by a company is likely to find difficulties in many areas of the business.

The same principle may also be applied in the opposite direction. The younger generations may be very comfortable with emerging technologies and practices, but may lack knowledge of the older systems that still carry out many of the important functions of the organisation.

Physical limitations

There are clear physical aspects that may affect how a successful company manages its workforce in regard to age. Older generations will by and large by physically inferior to their younger counterparts, and as such they will be less suited to roles that require physical exertions.

Luckily, most of the older generations of employee will have advanced to senior levels of management within the business they work for, and these jobs reward based upon understanding and experience rather than physical capability. It is however important to make sure that proper support is given to any employee who battles with the physical side of their job.

Modern ailments

Modern businesses are faced with physical problems that companies of the past would not have had to face. Complaints like RSI, or repetitive strain injury, have become more common since the widespread launch and use of personal computer keyboards.

The desk environment itself can create a number of problems if the ergonomics of any particular workstation are not great. Back problems and joint problems can develop after long intervals of sitting incorrectly, and long durations of exposure to computer monitors can contribute to long- term eye impairment. Studies are on- going to look into the full scale of the impact of the modern workplace on the body.

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Solutions

The control of generations in the workplace has obtained greater exposure over recent years and many additional companies have been made aware of the benefit of good generational management. This has spawned many new ideas and practices that are in one way or another aimed at developing the working relationship between the business and its workers, no matter how old they may be.

If there are particular roles within your business that are best suited to a particular generation then it is often beneficial to only use members of that generation to carry out the task. This kind of specialisation requires good organisational control.

There are a number of ways in which your company can learn about managing different generations of staff. Seminars dedicated to the topic have become a more common event in recent times, and the amount of useful advice that can be obtained from these occasions can be of special benefit to an organisation.

There are also a lot of resources available on the web that discuss the matter in greater detail, and draw together a range of unique ideas for tackling various scenarios. Every company has different needs and a unique workforce so it may take time before you find the correct management method for your company.

If setting your own administrators the task of learning about generations within the office does not seem appropriate there are many business gurus that now incorporate the idea of generational management into their practice. Using their services could be the most recommended method to address your business situation.

Conclusion

Different generations of employee can find it difficult to work collectively. They have grown up in different times and learnt about a world that has been constantly changing. There are not simply issues when it comes to the language used for communication, but matters of manners and etiquette.

Each generation is also motivated by different factors, and have come from different social upbringings. It will rarely be true that one solution can be applied across numerous generations but it is also important to make sure that your company does not micro- manage the different age groups working for it.

Contemporary businesses have a varied range of skills requirements and these needs simply cannot be satisfied by just one of the generations discussed in this article. As is so often the case, the path to success depends upon finding a balance between the generations- utilising the advantages, mitigating the weaknesses and encouraging accordingly - through educated and empathetic management.