Understanding generations

Here is an old funny story circulated on the web found in one of those humor sites.

Reaching the end of a job interview, the human resources officer asked a young engineer fresh out of the Massachusetts Institute of Technology, “And what starting salary are you looking for?”

The engineer replies, “In the region of $125,000 a year, depending on the benefits package.”

The interviewer inquires, “Well, what would you say to a package of five weeks vacation, 14 paid holidays, full medical and dental, company matching retirement fund to 50 percent of salary, and a company car leased every two years? Say, a red Corvette?”

The engineer sits up straight and says, “Wow!! Are you kidding?”

The interviewer replies, “Yeah, but you started it.”

This story may aptly illustrate the past and it certainly does not reflect the present and the future. Let me explain.

The marketplace has changed immensely, and it is no longer news that today’s kids will likely graduate into a career or job that doesn’t yet exist. Parents are not comforted when they hear about this, especially when the announcement comes from the World Economic Forum.

Business people and entrepreneurs instinctively know that many current jobs will no longer be in the future. McKinsey Global predicts that half of all workplace activities could be automated in the future because of artificial intelligence. With all the current features and mentions on ChatGPT, we now understand why this prediction becomes plausible.

Employers need to be aware that the younger generation of workers can adapt to changes more quickly than the older generations.

Proof of this is when Gen Z was sent home to stay home and do online schooling because of the lockdown; they adjusted better than their teachers did, and they were helping their teachers navigate Zoom and other online platforms.

Leaders need to understand each generation, recognize how they interact with other generations, and adapt their leadership application accordingly. Understanding generational mindsets and having a deeper comprehension of what motivates them has become a central piece of my Level Up Leadership training program, such that participants commented that it has helped them understand not only their younger workforce but their children as well.

American author, historian, and consultant, together with his associate William Struss examined how generational differences shape attitudes, behaviors, and the course of history. According to their findings, each generation tends to pursue three outcomes as they come of age intuitively.

Each age group responds to older populations, which we need to be aware of if we want to connect with each generation effectively.

One thing that’s important to note is that each new generation tends to break with the previous generation. This is evident in the field of arts, music, and fashion. Generation Z would say to the millennials, “You’re cool, but we’re cooler. While you are so much into Beyonce. We’re into Billy Eilish.” Gen Z would want to avoid wearing the clothes their millennial siblings wear. There is also a lot of nostalgia with them as they see their aging grandparents, who will be gone soon, so they genuinely value “retro.” Many young people I know love Sinatra and Tony Bennett.

If you are leading a team or a company made up of three or sometimes even four generations of people, this could drive the leader crazy trying to connect, communicate and engage with them. However, if leaders take the time to understand each generation and their unique perspectives, we can create an inclusive workplace that supports all ages and brings out the best in each one.

Here is the challenge. Long before AI came into the picture, when changes were linear and predictable, senior executives (mostly older generation people) had all the budget and the perks for executive training. The mid-managers, the sup’s, and those below them in the corporate food chain did not have the budget allocation.

Today companies and clients see the need to conduct training on the younger generation in terms of soft skills, values enhancements, ethics, and excellence to equip them with the necessary skills and work attitude to succeed.

The marketplace is changing rapidly, and employers must be prepared for this change. Leaders should update and upgrade their leadership skills, while the younger generation should be trained in soft skills. Understanding each generation and recognizing how to interact with others is both an art and a science required for productivity and success.

(Francis Kong’s podcast “Inspiring Excellence” is now available on Spotify, Apple, Google, or other podcast streaming platforms).