Yesterday, I gave a keynote for the Houston chapter of IREM (Institute for Real Estate Management). The topic was ‘Five Generations of Talent’ in the workforce for the first time in our nation’s history. A lot is written about this unique period, including a book by Jean M. Twenge, PhD, published last month, appropriately titled: Generations.
During my research I spoke to some clients to gain their perspective. A VP in charge of Europe for a plant-based food company said:
Every generation feels the next one is less committed. I think it’s more accurate to say each has a different mindset. The key to engaging them is aligning the organization’s culture and principles. Start there.
Placing broad characteristics on people requires generalizing… and not everyone fits the category. In the case of generations, one way demographers categorize them is by the technology they encountered around age 10… and what happened culturally in their twenties.
For instance, as 10-year-olds in 1956, the first Boomers were watching the spread of television… spending their afternoons with Annette and Cubby on the Mickey Mouse Club. Meanwhile, the early Millennials –in 1991 – experienced the expansion of the Internet.
From a cultural perspective, Silents – as twenty somethings in the 60’s – championed the Women’s and Civil Rights movements, while Gen X – in the 80’s – witnessed both the Challenger explosion and the fall of the Berlin Wall.
The latest entry into the workforce – currently comprising 25% and growing quickly – is Gen Z… those born starting in 1997. Only 61% consider work to be ‘a significant part of their identity,’ as compared to 86% of Boomers. Yet, they’re seen as: ‘highly ambitious’… ‘optimistic and upbeat’… and ‘practical and realistic.’ They also ‘pursue their passions’ and ‘voice views fearlessly.’ Much more, in fact, than their parents and grandparents.
As my VP client suggested, each generation looks at the next one and tends to undervalue them. Personally, I believe we’re in good hands… especially with Gen Alpha coming up fast. They’ll be in the workforce in five short years. Of course, us gray-haired veterans will need to do our job and align culture and principles to help them launch.
