Understanding their expectations and capabilities is key

By CenterStone Executive Search

The realities of the new workplace – fast-paced, knowledge-driven, unpredictable, and intensely competitive – are a perfect fit for the new generation of professionals who work hard, play hard, and want diversity and versatility in their work.

This tremendously bright generation is now producing “senior” leaders in their late 20s to late 30s. As companies ranging from large, stable institutions to scrappier startups compete for innovative young leaders to work beside their established teams, I often hear: How do you foster loyalty? What does this new generation want from a company commitment?

Indeed, this group tends to be risk-takers. If they get bored, they move on to the next big thing. But there are ways for companies to sustain the vibrancy that attracted these creative thinkers in the first place.

By harnessing their total ability and capacity – rather than using just one aspect of their capacity – companies can hold their interest. In the process, they build problem-solving generalists who can move into whatever core areas need them, which could eventually include the CEO role.

Different expectations, different capabilities

Baby Boomers are a phenomenal group who devoted themselves to hard work and to serving their companies. Generation X and the Millennials have different, possibly more balanced expectations: Serve the company as long as the company serves me.

There is still a whole flock who would like to spend two to three years inside a Fortune 500 company to get classically trained. But they are creative and naturally curious. If they don’t remain stimulated and aren’t allowed to do great, interesting work, they’ll take their training and apply it to a more nimble organization that values creative thinking.

The reality is all companies need innovation to stay relevant. Apple started out as a computer company but through a commitment to innovation became a device company: Their product design is what captures the consumer’s attention and leaves people clamoring for the next product release. IBM looks nothing like it did 12 years ago. Even relatively young companies such as Amazon or eBay dramatically extended their initial concepts, manifesting the ideal of innovate or die.

This generation was born into innovation. Unbelievably young entrepreneurs have started successful companies in the past few years. In addition to their academic education they had, via the Internet, the universe at their fingertips throughout their formative years. They have a great sense of self that works for them.

Embracing originality

Companies can’t throw away business discipline, but they must embrace this original thinking by rewarding young leaders for looking at the world with a different lens. They need to be allowed to question and challenge and drive their own bright ideas.

Besides getting responsibility earlier, Gen X and Millennials want more diversity around the work world through horizontal movement. In today’s market, somebody with demonstrated curiosity and creative problem solving can be the head of marketing for three years, then head of operations, and then CTO if they have the technical acumen.

As companies shift from a command-and-control management to one that encourages more team-based decision making, this generation has the intellectual horsepower and the courage to run with new ideas. Just remember their attention span is shorter than people trained to do one thing. Put them in a corral and they’ll break down the fence to move on.

Takeaways:

• Mobility is paramount to this group. They don’t want to be chained to the desk. To them, the global marketplace is their water cooler and they don’t need to be in a physical place to make those connections.
• A benefit package is important but they’re not going for the gold watch. They are motivated by: “What do I get to do?” “How much are you going to pay me?” and “How do you continue to show that you value me?” That may mean money, or it may mean the kind of perks that make it easy for them to work hard and still live their lives.
• Don’t let age or years of experience become the sole barometer for executive leadership. If you do, many a rising star will move to your competitor and lead that company right past you.
• This generation needs to align with the corporate citizenship of the company. “What causes are we tied to that makes this world a better place?” “Are we environmentally sensitive and care about creating a green workplace?” “Do we use child labor in Third World markets to produce our products?” If so, they’re not interested.
• Boomers are not ready to sit on the sidelines, but the successful ones have taken on the core characteristics of this generation by embracing technology, taking risks they might not have tried 10 years ago and getting educated in areas where they will be of more value.

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