Today's workforce spans four generations, each with its own characteristics, work styles, and motivators. So if you are treating a 50-year-old claim manager the same as his 23-year-old employees and everyone in between, then your work environment could be a loss waiting to happen.
It's true that the claim industry typically experiences more turnover than other disciplines, but that isn't an excuse to put retention strategies on the backburner. If your employees are leaving, then it's probably not because they “can't rough it in the world of claims.” Chances are, they are taking similar roles with similar companies. The only difference is that the new companies are able to understand and meet their needs. In today's difficult economy, retaining quality employees from all generations is more important than ever.
Each generation currently in the workforce — the Traditionalists, the Baby Boomers, Gen-Xers, and Millennials — has unique attributes that make it a vital component to your organization's make-up and future success. Neglecting to incorporate members of each generation into your human capital strategy will put you behind the competition. Even worse, you'll miss out on a variety of skills and talents. Creating an environment that speaks to all four generations is advantageous and not as difficult as you might think. The first step is about understanding what each generation has to offer and uncovering ways to pull the generations together.
The Traditionalists
The oldest members of the workforce, Traditionalists (born between 1900 and 1945) are described as being loyal, patient, and dedicated. This generation maintains a strong work ethic, often placing work responsibilities before personal lives. Additionally, Traditionalists have an extensive knowledge base from years of experience.
Traditionalists spent the majority of their careers in a formal work environment. Rather than try to change this mindset to fit with your current corporate policies, embrace it. Incorporate formality into your personal management style by presenting ideas in a to-the-point manner. Recognize that Traditionalists tend to side with the status quo. New technology, such as instant messaging and e-mail, are less desirable modes of communication for them. For the best response, communicate with Traditionalists face-to-face. Reward them with traditional recognition, such as plaques. Find roles that emphasize their strengths instead of ones that highlight their weaknesses.
Baby Boomers
Currently, Baby Boomers (born between 1946 and 1964) constitute the majority of the workforce. They are hard workers who tend to be disciplined and extremely competitive. Their view that a job can last a lifetime means that they will stay loyal to a company and feel a personal connection to its success.
Similar to Traditionalists, Baby Boomers are usually set in their ways and are not only respectful toward but also comfortable with a company's bureaucracy. They believe in fostering a formal working relationship with their superiors and peers. However, younger managers should understand and admit that in some situations, their Boomer subordinates are older and more experienced. Be direct when communicating project objectives and tasks to boomers. They favor clear communication of desired results. Baby Boomers enjoy public recognition — such as an acknowledgement in the employee newsletter — for a job well done.
The Gen-Xers
Born between 1964 and 1976, Gen-Xers are settling down and starting families. At this point in their lives, flexibility is of utmost importance. This does not imply that they are lazy; in fact, it means that Gen-Xers are more likely to get straight to the point and maintain efficiency. They value productivity and desire high-quality results, even if the work is not completed within the traditional 9-to-5 time frame.
Members of Generation X are independent and resourceful. They prefer managers who tell them what needs to be done, but not how to do it. Similar to baby boomers, Gen-Xers prefer open, honest, and direct communication, including feedback about their work. Unlike traditionalists and baby boomers, they value casual working relationships. Gen-Xers prefer flexible work weeks that include job sharing and telecommuting options. One way to connect with this group is to recognize their successes with additional paid time off.
The Millennials
Today, Millennials (born between 1977 and 1995) are entering the workforce at a rapid pace. In fact, this goal-oriented and optimistic generation is the future of the talent pool. While they have greater demands of their employers than any other generation, they also possess innovative ideas and a grasp of technology that employers cannot afford to miss.
Their Baby Boomer parents raised Millennials to believe that they can do whatever they put their minds to. They are a mobile generation and are much more likely to leave their jobs after a year or two than their older counterparts. Millennials thrive on mutual respect, the potential for growth and advancement, and flexibility and fun in the workplace. Employers can promote job satisfaction by entrusting them with new projects and opportunities and providing mentoring opportunities. Equip them with cutting-edge technology to accomplish their work. Encourage this generation to share new ideas and solutions while setting rules and maintaining solid leadership. Millennials will appreciate being rewarded with flexible work hours and dress codes.
Differences Aside
Establishing a cross-generational work environment does not mean simply hiring employees from each generation. You must cultivate an environment that thrives on this type of diversity by capitalizing on what each generation offers. A company's corporate culture is critical to overcoming the obstacles created by generational differences. A strong, well-defined culture sets the expectations, rules of engagement, and best practices that shape how employees interact on a daily basis. A cross-generational work environment means that employees of all ages and levels are treated with fairness and respect from both upper management and their colleagues.
At the end of the day, productivity and accuracy are the true gauges of success. Creating a cross-generational work environment means focusing on the results more than the means of achieving them. Be conscious of your employees' mindsets, motivators, and differences. The one-size-fits-all workforce is long gone; however, the increased productivity and knowledge capital that will result from a generationally diverse workforce is invaluable.
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