Much research is being done into the characteristics and expectations of the younger generations in the workplace. However, we need to look at all the generations – including the older generations that we wish to keep longer in the workplace – to consider how to lead to include, encourage and retain all four or even five generations – and to consider if our stereotypes of the generations really are true.
In the latest Global Gen Z and Millennial Survey from Deloitte, we can learn about the top reasons these generations chose their organisation:
- 89% of Millennials and 86% of Gen Zs say having a sense of purpose is very or somewhat important to their overall job satisfaction and wellbeing.
- 40% of Millennials and 44% of Gen Zs have turned down an employer based on their personal ethics and beliefs.
- Work/life balance is the top consideration of both generations when choosing an employer – with learning and development opportunities as a second priority.
In a study by Hay Group, however, they did not see a great deal of differences across generations. “All of the groups were driven by well-run, well-managed organizations that demonstrate care and concern for their employees. The employees want access to resources and authority to make decisions that impact their work – and we don’t see that changing across generational groups.”
In a survey undertaken by Dell Inc. in 2017, they polled more than 16,000 employees, half of whom were millennials. What they found was that millennials are very similar to Generation X and Baby Boomers when it comes to career expectations and their values, and their research suggests that there are more similarities than differences across generations. Where the stereotype of millennials say they like to job hop, Dell’s research shows no significant difference between generations. Where the stereotype says that millennials place a higher value on work-life balance, Dell’s research shows that all generational groups rank work-life balance as a top priority when making career decisions. Where the stereotype says that millennials expect to be promoted quickly, Dell’s research shows millennials predicting 3.5 years to promotion on average.
With the words of Michael Dimock, President, The Pew Research Center, maybe we should consider generations in a different way:
“…generations are a lens through which to understand societal change, rather than a label with which to oversimplify differences between groups.”
And look for what unites generations rather than what separates them:
