06. FEW CASE STUDIES TO LOOK AT

Case Study 01: Leverage your young workforce’s expertise

Ron Garrow, Chief Human Resources Officer at MasterCard, is not a technophobe, but he readily admits that social media didn’t come easily to him at least at first. “I recognized that I had a lot to learn about operating in this new world,” says Ron, who is 51.

So he volunteered to take part in a reciprocal mentoring program run by one of MasterCard’s internal business resource groups. The program partners young employees with older colleagues to work on tech skills. Ron was assigned a coach, Rebecca Kaufman,24 years old and an avid social media user who taught him how to use Twitter and how to get more out of professional networking sites, such as LinkedIn. “Rebecca has shaped my thinking in terms of how I operate in the social space,” says Ron. “I now carve out time in my day to get on LinkedIn and I have a better appreciation for the importance of social media.”

Working with Rebecca also helped Ron relate to Millenials as both the consumers and workforce of the future a critical insight considering the changes taking place in MasterCard’s industry. “This new generation is shaping the future in terms of purchasing habits: They don’t use cash to buy things; they use electronic means. As a result, MasterCard’s job descriptions have changed.” Rebecca also benefits from the relationship: Ron provides professional counsel and is also helping improve her communication skills.

Today hundreds of MasterCard employees take part in the program, which is currently offered in five offices. “There’s a contagion going on people are raising their hands and saying: ‘I want a mentor.’ It’s really about making yourself vulnerable,” he says.

Case Study 02: Motivate your employees with incentives that matter to them

Kris Snyder, the founder and CEO of Vox Mobile, the mobile technology management company based in Cleveland, Ohio offers his 130 employees a veritable cafeteria of benefits, compensation, and work assignments. “I think of my employees as a cast of characters,” says Kris, who is 42. “Everyone’s needs are different, so we can’t be a one-size-fits-all [employer].”

The majority of Vox Mobile’s sales force  about 85% are just out of school and on their first or second job. Its leadership team, however, is comprised of people in their 30s and 40s. To appeal to these different age groups, he has developed different sets of employee perks based mainly on where these two age groups are in their personal and professional lives. “I noticed that these groups have different motivations and, therefore, they need different incentives,” he says. “There are no hard and fast rules, but generally speaking, my Gen Y workers want us to fund their LinkedIn accounts; they like things like branded gear and company-sponsored happy hours  they’re more social and they’re not going home right after work. Gen Xers don’t care about logoed backpacks; instead they are looking at our 401(k) matching plan and our healthcare provisions.”

The different incentive packages and perks will likely shift along with the company’s demographics, says Kris. “As we build and grow and as the company goes through different stages, the makeup of our workforce will change, too,” says Kris. “We will navigate those changes and experiment with new ways to incentivize employees.”                                                                                                                                     Source- hbr.org 

Conclusion

The workforce has become multigenerational, due to fewer birth rates, a much longer life expectancy, improved working conditions, and technological advancements, employee longevity is on the rise. As such, effective multigenerational management is not just a must but must also be engraved into the company policy and culture. Companies and managers must adapt to changing times to ensure employee satisfaction across the board. 

One trend that HRM leaders need to know is that more baby boomers are retiring, while more of Generation Z is entering the workforce. This can be very important when considering human resource development practices. Gen Z values very different things than the boomer generation, and so workforce policies will need to reflect that if they want to attract and recruit talent. As we think about emerging trends in human resource development, it is noted that Millennials and Generation Z are now the driving force behind change in the workplace.

When you understand a mutligenerational workforce can help drive your business to greater success, you will see each worker, regardless of generation, can bring something distinctive to your company. Companies need to be aware of the unique benefits a diverse workforce brings. They must look past the generational stereotypes and focus on the unique strengths each can bring to your company. In order to be successful, you need to be inclusive.

Successful companies understand the needs of every generation and fulfill them too. They realize that if there are conflicts in the workplace or friction between different generations, it will have a negative impact on team cohesion, which will hamper their business growth. I hope that this blog might have helped you in understanding the differences between generations at work and enable you to manage them more efficiently.

Which generation do you hail from and how do you juggle different generations at work? Let me know in the comments section below.

References

Rebecca, K. (2014) Managing People from 5 Generations. [Online] Available from https://hbr.org/2014/09/managing-people-from-5-generations [Accessed on 21st December 2021]