Curiosity, flexibility and collaboration: these are the hallmarks of a perennial mindset

Boomer or Millennial? Gen X or Gen Z? These generational labels are everywhere.

While it’s tempting to fall back on these stereotypes as ageing populations and falling birthrates keep older people in the workplace, multigenerational expert Lindsey Pollak, writing in an AltoPartners special report – The Ageing Workforce : A dividend to be leveraged or an HR problem to be managed – urges the importance of looking beyond the labels. “The multigenerational workplace is here to stay … My advice to leaders… is to check your assumptions at the door. It’s time to challenge long-held beliefs about what a CEO, a board, or a career path should look like.”

Pollak recommends instead the adoption of a concept framed by tech entrepreneur Gina Pell: the perennial. Pell says of perennials: “We are ever-blooming, relevant people of all ages… We get involved, stay curious, mentor others, and are passionate, compassionate, creative, confident, collaborative, global-minded risk takers… We comprise an inclusive, enduring mind-set, not a divisive demographic.”

This mindset, and the people it describes, are at the heart of creating a flourishing multigenerational workforce, in which transformational leadership is at the helm of a flexible, agile and resilient organisation.

What are the business advantages of adopting a perennial mindset?

A multigenerational workforce, in which people are managed inclusively from the starting point of assumption-free curiosity, enhances organisational productivity and general economic performance:

• A collaboration between the World Economic Forum, AARP (formerly known as the American Association of Retired Persons), and the Organization for Economic Cooperation and Development (OECD) suggests that investing in multigenerational workforces could raise GDP per capita by nearly 19% over three decades.

• The same study estimates that a firm that has a 10% higher share of workers aged 50 and over is 1.1% more productive.

• A London School of Economics (LSE) study found that employees working at intergenerationally inclusive workplaces are twice as likely to be satisfied with their jobs and are less likely to look for a new role, indicating a direct link between a multigenerational approach and employee retention.

In addition, workers bring a wealth of experience, knowledge, and wisdom to their roles. Their presence creates opportunities for knowledge sharing and mentoring with younger employees – who in their turn can share skills with their older colleagues. Older workers tend to be more loyal to their employers, which translates into greater workforce stability, which can reduce recruitment and training costs.

But leadership has some work to do

Successful multigenerational workplaces don’t happen organically. They must be strategically driven. The LSE study indicates that creating a successful multigenerational company is not just matter of making sure you have people of all ages on your staff. In fact, the research indicated that employees who are much younger than their managers report lower productivity than those closer in age. The survey – of 1,450 employees in the finance, technology and professional services industries in the UK and USA – found that friction between different generations was at the heart of the issue.

In organisations that consciously implemented intergenerationally inclusive work practices, there were significant reductions in self-reported low productivity. For Gen Z, the percentage reporting low productivity dropped from 37% to 18%, while for Millennials it decreased from 30% to 13%. Similar improvements were noted for Gen X (from 22% to 13%) and Baby Boomers (from 14% to 7%) in inclusive environments.

For that reason, perhaps, a 2020 global survey conducted by AARP in 36 OECD countries found that 68% of executives planned to intentionally design mixed-age teams to leverage the benefits of both younger and older employees.

What can leadership do to create an intergenerationally inclusive environment?

Here are eleven ways leaders can cultivate a perennial mindset:

1. Embrace and promote age diversity. Leaders should actively seek to recruit and retain employees of all ages. This can involve implementing age-neutral recruiting processes and offering phased retirement programmes.

2. Foster a culture of continuous learning and development. Providing opportunities for employees of all ages to learn new skills and grow professionally is essential for creating a perennial mindset. Training programmes, mentoring opportunities, and encouraging employees to take on new challenges should all be part of the mix.

3. Create a work environment that is suitable for employees of all life stages. This includes offering flexible work arrangements – support for parents of young children should run side by side with support for middle-aged staff who are caring for elderly parents, for instance.

4. Challenge age-based stereotypes. Leaders should actively work to debunk myths and misconceptions about the strengths and capabilities of different generations.

5. Focus on individual employee attributes, values, and needs rather than generational categories. This involves gathering data on individual people and tailoring development paths accordingly.

6. Encourage a growth mindset. Leaders should promote a culture where employees are encouraged to see challenges as opportunities for growth and learning, rather than threats or failures.

7. Think about project-based teams that intentionally bring together employees from different generations. A technology company might assemble a team to develop a new product, with members from the engineering, marketing, and sales departments representing a mix of ages and experience levels.

8. Create cross-functional programmes that pair employees from different departments and generations. A senior finance executive could work with (and mentor) a junior marketing associate on financial planning and analysis.

9. Reverse mentoring. Pairing younger employees with senior leaders to provide training on new technologies and digital tools is a common approach to reverse mentoring. For example, a Gen Z employee could mentor a senior executive on using social media platforms for marketing and communication.

10. Invest in online learning platforms. Many companies are investing in online learning platforms that offer a wide range of courses and training programmes for employees of all ages. A company could subscribe to a platform like Udemy that offers courses on topics such as data analysis, project management, or digital marketing.

11. Encourage Micro-learning and on-the-job training. Companies are increasingly using micro-learning approaches, delivering short bursts of training content through videos, podcasts, or interactive modules. On-the-job training, where employees learn by doing and receive guidance from experienced colleagues, is also an effective way to upskill.

Last word from Lindsey Pollak: “Stereotypes are divisive and dangerous, and age is no exception. Transformational leadership is the difference between a workplace that leverages each generation’s unique perspectives, and one that pits generations against each other. A multigenerational mindset is the superpower of the future workplace.”

FURTHER READING

The Ageing Workforce : A dividend to be leveraged or an HR problem to be managed

Rethinking Leadership: It’s Time to Get Personal and Listen

Ask Alto : What are agile leadership principles and how can they help businesses cope with rapid change in 2024?

Ask Alto: How can leaders encourage a growth mindset in the workplace?

Ask Alto : What is a micro-credential and should it be added to your CV?

Written by Renee Moodie