Different generations are more similar than expected
A new study by Egon Zehnder and Kearney finds more similarities than differences between generations in the workplace; workers of all ages value a collaborative corporate culture and autonomy exemplified by leaders, according to a key finding.
The myth of a generation gap in the workplace is debunked in a new study published by HR consulting firm Egon Zehnder in cooperation with consulting firm Kearney. According to the study, Generation Z, Millennials, Generation X and Boomers are more similar than thought when it comes to their ideas about jobs and careers. In particular, when it comes to personal well-being, work-life balance and expectations of leaders, there is a great deal of agreement between the generations. The study involved 8181 respondents from eight countries: Brazil, China, France, Germany, India, Japan, the UK and the USA. Differentiation was made between the following five generations: Gen Z (born between 1997 or younger), younger Millennials (born between 1988 and 1996), older Millennials (born between 1978 and 1987), Generation X (born between 1965 and 1977) and Boomers (born between 1957 and 1964).
Healthy work-life balance important for all generations
One of the key findings of the survey is that the financial solidity of the employer and a healthy work-life balance are just as important as an attractive salary for all generations (80 %). However, according to the study, mental and physical well-being is even more important to respondents when choosing an employer (82 %). Two-thirds of respondents would also leave their jobs for a position they personally find more meaningful. Willingness is highest among Millennials (70 %), compared with Gen X (59 %), Gen Z (58 %) and Boomers (54 %). All generations, on the other hand, value leaders who listen, empower their teams, are transparent about their decisions and communicate a vision. And of all generations, Millennials feel the most confident and empowered to overcome challenges. Seventy-six percent of them are optimistic that they will have the success they deserve in life, followed by Generation X (63 %), Boomers (62 %) and Generation Z (61 %).
Collaborative leadership receives greatest encouragement
The desire to work autonomously is also reflected in employees' expectations of their superiors. They particularly appreciate being listened to and trusted, when managers ask for assessments and their decision-making process is comprehensible. "Today, working in line with the times also means, above all, giving your own employees the space to develop. To this end, freedom and the delegation of responsibility are just as important as active, transparent exchange with one another. Companies that lead the way here have a clear advantage," says Dr. Mirko Warschun, Partner, Managing Director and Head of the Consumer Goods & Retail Practice EMEA at Kearney. "A collaborative corporate culture is in demand across generations. Leaders who take the time to explain decisions, engage the workforce and treat their teams as equals make the difference today," says Simone Stebler, Consultant and Head of Diversity & Inclusion at Egon Zehnder Switzerland.
"With the study results, we refute the alleged conflict between generations and their expectations of their work environment. Instead of being guided by supposed opposites, employers should create a working climate that combines the expectations of all age groups. In implementing this, managers are crucial," says Dominik Schaller, Consultant and Managing Partner Switzerland at Egon Zehnder.
Source: www.egonzehnder.com
