Generational diversity can have a massive impact on the functioning and direction of an organization’s mission and vision. There are four generations that may exist in an organization at any time. Firstly there are the traditionalists who were born between 1920 and 1945. Next are the baby boomers that were born between 1946 and 1964. The current CEOs and directors of many organizations are the Generation X, who were born between 1965 and 1982. Lastly Generation Y, commonly known as the millennials, who were born between 1983 and 1997 are the fresh blood of any organization or the brains behind a start-up.
Numerous reasons give rise to generational differences in an organization and have major impacts on its functioning and decision making. Let’s take an overview of some of these:
- Communication Style: Preferred styles and mediums of communication vary over different generations.
- Company Outlook: Depending on the age of individuals, their overview of the company might differ and have an impact over their performance attitude.
- Leadership Approach: Similarly, approaches to leadership vary hugely over different age groups.
- Rewards: The age of the individuals has an impact on their expectations towards rewards.
- Expectations: One generation group will have different expectations from the organization while others may have a completely different outlook.
- Work life Balance: Work life balance expectations of employees will also vary greatly.
- Interaction with peers: Younger individuals will have a completely different interaction attitude with peers compared to older employees.
- Technological know-how: With the ever changing technology in mind, it would be safe to assume that Generation X and Y would be more suitable than traditionalists and baby boomers.
The existence of such factors can affect the overall workings of the organization in more than one way. However, it adds a flavor to leadership and decision making which can result in different views from each individual and prove to be beneficial. Hence, age group diversity can be a strong point of any commercial business that targets a wide audience because their diverse dimensions can reflect on their customers.
Do you believe that generational diversity is a good thing for the organization? Share your thoughts in the comments below.