In attempt to address issues brought about by the generational divide between baby boomers, Gen X and Gen Y, it is important to understand and relate to their differences in values, priorities and sources for motivation. With prevailing high turnover rates in the workforce, a primary concern for most employers is the difficulty in attracting and retaining Gen Ys, whose notions of work-life balance are influenced both by youthful ambition and technological advances of the day. In America, Gen Y estimates 70 million (born 1979 through 1994), which is double that of Gen X (1965 through 1978). For the first time in the workplace now, we can observe interplay between all three generations.

Challenges & Opportunities

Boomers (born 1946 through 1964), who are suitably aged to parent those from Gen Y, show increasing trends of being able to relate to Gen Ys better than Gen Xs. It is common to see both generations at the end of the spectrum seeking each other out and forming informal reverse-mentoring relationships in the workplace. These practices can also be cultivated in a formal manner. For instance, Time Warner’s Digital Reverse Mentoring programme allows college students to teach senior executives current digital applications such as blogging, wikis, Facebook and Twitter. In return, these students receive advice about company values and consumer behaviour from within the industry. Seniors are also able to impart lessons that have been learnt from experience over time.

New media, proliferated social networks and the internet are the first things to come to mind. But it is more important to note how it has influenced one’s career expectations today. As Gen Ys begin to blur the lines separating home and work, they are more willing to go the extra mile for companies who are flexible about working hours. Given the growing trend of technological development that enables people to work anywhere and at anytime, Gen Ys appear to have an advantage, thriving in organizations like IBM with performance management systems that are result-oriented and are built around flexible work structures.

Most Gen Ys self-profess to be ambitious, wanting to play a part in decisions with an impact, even at entry-level positions. Such enthusiasm and outspokenness may be difficult to manage, and often in the haste of wanting to get things done, may result in their opinions and suggestions being overlooked and not given proper consideration. In a negative way of speaking, Gen Ys are high in maintenance, seeking instant gratification and needing constant encouragement. There are a myriad of problematic scenarios that could arise from this. Thinking that the boss is “not always right”, and a disregard for long-standing ways of doing things, are examples that could potentially cause conflict. However, in a world of uncertainties, constant changes and stiff competition, Gen Ys’ critical thinking attitude can be harnessed to an organisation’s advantage. Clear, open and honest conversation is the simplest way to dispel miscommunication, and can also often remedy discontent in Gen Ys who tend to resent the outright use of authority. In this regard, a key implication for many Boomer and Gen X managers is the need to avoid using an authoritarian approach or style of supervision.

Other generation-specific qualities in Gen Y, that are less evident in the older demographic, include multi-cultural ease, and an inculcated flair for social networking. Gen Ys engage proactively with one another all the time, significantly increasing the value of social support to them, as compared to Gen Xs and Boomers. It has been found that building quality friendships at work have a great retaining influence on Gen Ys, which is a positive motivator for them to extend their stay with a company. Although this also implies conversely, that the resignation of one or more key staff within a social circle may encourage others to leave the company as well. An implication to HR is the need to create a workplace where Gen Ys can network and socialise freely – and to veer away from too many organized social functions especially with formal speeches!

Similarities

Although there are many things that set them apart, many similarities can be noticed, especially between Gen Ys and Boomers. Much of their relationship is reflective of parent-child relationships of today. A survey published in Harvard Business Review (Hewlett SA, Sherbin L, Sumberg K., 2009; 7) found that Boomers and Gen Ys were more attracted to companies that permit sabbaticals for the exploration of hobbies, interests and volunteer work. Working towards a “bigger picture” and identifying with company’s values and missions are assets to them that allow “giving back” to society. This allows them to be a part of the “green” movement by being environmentally friendly. Allowing flexible or virtual working environments are highly favored. To them, freedom is a big motivator.

For both Gen Ys and Boomers, working with a great team, having challenging tasks, and receiving recognition for a job well done, are some examples they think should precede financial gain, when choosing to stay on working for a company. Some areas may also be gender-specific, with women placing higher importance on recognition for a good performance than men.

Though literature does not explain why Gen Xs are less likely to place such values over financial gain, it begs the understanding that most Gen Xs are likely to have families and young children to be responsible for. This may be unlike Boomers - who are suitably aged to have children old enough to be college graduates, or to be working. Gen Ys, especially those from affluent families, are showing increasing trends of being financially dependent on their parents, even after graduating from university. Most of those who are fortunate enough to receive the fruits from the hard work of their parents, would consider giving up unfulfilling jobs, even if there are high monetary incentives.

Conclusion

Indeed there are many differences, values and cultures that set all three generations apart. In addition, Gen Ys may be emotional, inexperienced, and difficult to handle. However, retaining talent in a heavily knowledge-based industry and in a global-setting has powerful ramifications for the future. Proper grooming through constant feedback, coaching and mentoring can prove to be rewarding and fruitful. It also helps to do away with stereotyping, and solving disagreements and tension with clear and honest conversation.