Atlanta — March 12
Global talent measurement company SHL has released new research revealing differences in motivational factors between generational groups in today’s workforce.
Based on a sample size of more than 1 million people across 200 countries and territories from executives to front-line staff, the Landscape of Diversity study exposes how the dramatic age diversity in organizations — in the U.S. and globally — could significantly stunt leadership growth as well as succession planning, employee performance and business outcomes.
SHL’s study found that only 20 percent of Generation Y plan on staying with an organization for their entire career, compared to 65 percent of baby boomers. While baby boomers are motivated most by reward and recognition, Gen Y is driven by progression and personal growth.
The study also shows negligible differences between generational groups in the talents required to “develop the vision” and “share the goals” effectively. But significant and substantive differences appear in the talents required to gather support of ideas and proposals (favoring baby boomers), and in successfully turning those ideas into actions and deliverables (favoring Gen Y).
The new research was released as a call to action for corporate leadership. With work becoming more complex and collaborative, the profile of a successful leader has changed in more than 89 percent of organizations, according to the study.
To have effective leaders in place in the future, organizations must have a plan to identify and shape them today within an evolving management structure and without alienating those already holding those positions. Understanding generational differences when it comes to job motivation and career development is essential to the success of this plan, the study suggests.