But to thrive in this evolving environment, organisations need to understand who their future leaders and stakeholders will be. That's according to international recruitment firm Hudson, who have released a new report, The Great Generational Shift
, which reviewed over 28,000 professionals globally.
“Generation Y is no longer the baby, Generation X no longer the middle child and Boomers no longer the parent. Everyone is moving up a step, and the leadership implications will need to be reckoned with,” said Moylan, Hudson executive general manager of Talent Management – Asia-Pacific.
“Generation Y are masters of abstract and conceptual thinking. They are highly ambitious, socially confident and relational. However, The Great Generational Shift
research also shows that they score much lower on traditional leadership traits.”
When forward planning, Moylan said HR must identify the “implications for thriving – and surviving – in a multi-generational workplace”.
Baby Boomers, for instance, will need to embrace change, avoid judgments and adjust their expectations.
Generation X members will need to become natural diplomats as they move into or occupy senior management positions.
And often-misunderstood Generation Y members will prosper in workplaces where they can experience motivation and persuasion in action.
“More than ever before, it is imperative that organisations understand the profound psychological differences in how the various generations think, act and lead,” Moylan said.
“Out-of-the-box thinking, innovation and a focus on strategic risks require a new kind of leader. Organisations should decide whether their leaders of today are the right leaders for tomorrow.”
With Generation Z now entering the workforce and Baby Boomers edging towards retirement, Generation Y are arriving at positions of seniority, bringing “a new management style” to modern workplaces.