Our countrys economic decline is having a much more sizeable impact on young workers than on those from the Baby Boomer or Traditionalist generations, according to a study by MetLife Mature Market Institute study, administered in affiliation with Boston Colleges Sloan Center on Aging & Work. The studies findings were further detailed in the report, Engaging the 21st Century Multi-Generational Workforce.
The primary focus of the study was on whether generational differences matter when it comes to employee engagement. In short, the answer is yes. Different factors definitely drive the levels of engagement of different groups of employees. While the insight into engaging the different generations is reason enough to download the report, it is particularly interesting to read the findings related to how different groups of employees are weathering the economic storm.
Employees age 26 and younger (Generation Y) and age 27 to 42 (Generation X) revealed a decline in engagement, while those over 43 showed very little change. This anomaly may be because younger employees have not been through similar tough times, while Baby Boomers and Traditionalists have. Having survived previous declines, the older workers understand that things sooner or later improve. Therefore, on a whole, older workers are better able to adjust.
The study echoes a recent Business Week article about how the recession is impacting the country's youth. According to Business Weeks Age of Anxiety piece, the millenial generation are entering the workplace at a terrible time, and their first career decisions could have financial implications that last for years.
Both the MetLife study and the Business Week article make it clear that those managing younger employees need to find ways to help those employees handle the pressure the recession is causing in their personal and working life.
You may feel that you dont have time to coddle younger workers, given all of the other demands you face. However, my own research and that from Harvard professor Bob Sutton shows that when employees become paralyzed by anxiety, there are likely to be resulting decreases in productivity.
Older managers should try to find time to discuss with younger workers how they are feeling about the economic slump and suggest strategies for braving the storm. Sharing personal stories from prior recessions and tips to pull through the stressful times in a positive manner will go a long way in improving younger employees work ethic, and ultimately the teams results.
One of my clients, a vice president from a defense company, has initiated a town hall meeting within her company that gave experienced employees a chance to encourage and counsel the less experienced workers. They more tenured employees gave palpable suggestions to deal with upheaval, stress and extra work loads. There was an instant sense of relief within the entire room and a positive energy among younger and older employees alike that had previously been missing.
Good leaders recognize that when anxiety is running high, employee communication is not optional, its imperative. Focusing a little extra time on helping younger employees cope is worth the investment.
Wendy Mack is a mentor, trainer, and author who specializes in leading and communicating change. Download her free e-book, Transforming Anxiety into Energy at
www.WendyMack.com.
