This article is a must-read for those individuals that are currently managing a team in the workplace.  

There is a talent shortage in the area of management or good management today. Driggs Search International gets a request almost daily for a manager who can both recruit and retain top talent. There is top talent to be found in the Boomer, X and Y generations. Those managers that will succeed, will know how to manage each one of those generations effectively.

A Timeless Strategy for Managing, the Multigenerational Workforce

By Jon Bartos

Baby Boomers, Generation X, and Generation Y. Divided by age, but united in the workplace. It is a new playing field, and managers are scrambling to come up with a game plan that makes sense to three different generations... all on the same team.

Companies who capitalize on the strengths of their players, as well as understand and deal with their weaknesses, ultimately win. It is all about getting the right person into the right position. And today that means maximizing multigenerational talent.

This is a workforce that finds a Beatles-loving grandfather of six working alongside a 20¬year-old X-Box addicted technocrat. Both on the same team, but are they speaking the same language?

Corporate America is trying to figure out how to accommodate the distinct behavioral patterns, life goals and career expectations of a multigenerational workforce. A skilled and perceptive manager can achieve success by defining and meeting each generation's needs. Now is the time to develop strategies to cope with—and profit from—this new reality.

You can't afford not to. Generational harmony is an absolute necessity for your business if you wish to survive. Cyclical economic growth continues to create more jobs, and our workforce is shrinking. Qualified professionals are at a premium, and supply is limited. According to projections, there will be 4.3 million more jobs than talent to fill them by 2011.

Over the next few years, the majority of professionals will be Gen X (born between 1965¬1977) and Gen Y (born post 1977). These younger workers will be able to pick their team carefully, tailoring careers to suit their lifestyles. Do you have a strategy in place to guarantee they will choose you? It is no longer enough to find, attract, and hire good people. You'd better be equipped to motivate, train and retain them.

Baby Boomers (born between 1946-1964) have defined the workplace for 30 years. At 46 percent of the workforce, they are still the dominant force in our businesses. The older Boomers are redefining retirement through job sharing, part time work and telecommuting. They may retire, but they will not stop working. It is impossible to understand the multigenerational workforce without beginning, in a sense, with the past.

Baby Boomers' identities have traditionally been tied to their careers. They want financial success and they are willing to work hard to get it. They want promotions and recognition. Managers should set specific objectives for Boomers. They will rise to the challenge. For this generation, the more competitive the environment, the better.

Boomers are highly loyal employees. They prefer not to job hop. Capitalize on their strengths to drive productivity. Because they grew up with nightly family dinners, where discussions and debates were encouraged, they tend to be superb communicators with well-developed social skills. Use them as mentors for younger workers. They can encourage less outgoing professionals to come out of their shells. Let them facilitate teamwork. They are the natural choice to be team spokesperson or presentation leader.

This generation thrives when granted authority and given respect. Allow them to make decisions without having to constantly get someone else's approval. Ask their opinion and be prepared to act on it. Be aware that they can be dismissive of younger generations, perplexed by their expectations and attitudes.

The Gen X motto could be, "This isn't our parents' workforce, and we know it." Xers grew up in a very different America than Boomers. They witnessed the corporate layoffs of the 1980s and 90s, and that gives them a certain professional cynicism. They don't seek in-depth employer relationships because they don't trust companies or management. Xers don't intend to let others determine their futures. They aren't going to stay at one job for life... they don't count on pensions, 40l Ks or long-term career strategies. They will change jobs often—with no regrets.

According to Bob Cate, regional vice-president of Data Systems International, this generation doesn't look at the big picture.

"I see a lack of maturity in job selection among the Gen X workers," he said. "It seems they leave because of the grass being greener but the decisions are not based on common sense."

Cate recently lost a 33-year-old, six year employee. He was a top achiever and consistently earned over $200,000, but he left DSI because a rival company offered to increase his base salary from $72,000 to $84,000.

"That just doesn't make sense," Cate said.

What gives? Boomers can be baffled by Xers, who refuse to toil endlessly in the office, who don't believe in "sweat equity" and don't respond to the lure of overtime pay or higher commission checks. It may be tempting to dismiss them as slackers, but this generation has its own unique strengths, and when managed correctly, they can contribute great things to the team.

Xers have a voracious appetite for technology and learning. Show your commitment to riding the technology wave. Impress them with the bells and whistles. They like to know their team is leading, not following. Offer them access to different kinds of information. They can synthesize seemingly unrelated data and technology to provide innovative solutions. They are the difference between the way you've always done it, and the way of the future.

Hopefully, you've done your homework before hiring an Xer, because to keep them on your team, you've got to trust them. They resent corporate micromanagement and will leave quickly if they aren't given the freedom to work independently. Give them more responsibility. Set clearly defined goals and allow them to achieve in their own way.

To retain Xers, include them. Help them understand a company's big picture and how it directly applies to their career. Coach them with constant feedback and meaningful mentoring. They want plenty of opportunity for professional advancement. Ironically, the way to keep them on your team is to make them more marketable to the competition. Implement a healthy variety of focused training and skill development programs. And then remind them that your company is committed to their success.

A common mistake managers make is lumping Gen X and Gen Y together. Gen Y is just entering the marketplace—nearly half the generation is still too young to work—but they already have their own identity. Be careful not to underestimate them. They have the potential to change significantly the talent equation.

Optimistic Gen Y is a refreshing change from cynical Xers. They are very social and they communicate well. Their school years emphasized group projects, so they are natural collaborators who are at ease with diverse groups of people. Gen Y can develop strong relationships with coworkers—including the aloof Xers. Because they can relate to people of all ages, they may be one of the best things to happen to the generation gap.

Gen Yers are motivated. They want to get somewhere. Fast. They are gifted multi¬taskers, but they bore easily. They require immediate and constant performance feedback from their superiors. They prefer an inclusive style of management—they need a say in their own future.

When polled about professional priorities, Gen Y cites a good salary as most important, closely followed by advancement opportunities. This may not surprise anyone, but be prepared: in the fast-paced, instant gratification world of a Gen Y, the timeline is compressed. They expect things to happen quickly.

This rising generation is ripe with potential. They can usher in a new era of success for your team. But they will be difficult to retain. Develop a Gen Y game plan, a balanced management approach that combines financial incentives, growth opportunities and highly interactive feedback. It may sound challenging, but you can win with these young players.

Three different generations. In some ways, they came of age in three different worlds. But today's reality demands that they perform as one. Businesses who can adapt—adopting a new millennium management philosophy, will move into the future stronger than ever, energized and strengthened by the mix that is the multigenerational workforce.

The timeless truth of the workplace is this: Talent drives performance. The companies who attract and keep exceptional people, whatever their generation, get exceptional results.