Here is another intergenerational (GenY/Millennial and Boomer) dialogue. We hope you enjoy and gain some insights from the conversation. I began by asking: How do Gen Y/Millennials attitudes toward money and financial rewards compare with those of other generations?
As part of her experience as my extern during her junior year at Cornell, I gave Danielle Kronenfeld (DK) a number of questions to write about and discuss with me. We published one piece as a blog last year. Here is another with her updated views on what irritates older generations about Gen Y/Millennials and why they think the way they do.
Often I find myself engaged in conversations with both younger and older women about what might be called the intersection of gender and generations issues at work. Several women express the strong belief that women have actually made little or no progress in attaining leadership and management positions in the last 10 or 15 years except in their own businesses.
The best strategy for achieving more success for everyone is to sincerely and substantively involve men in the conversations and in implementing the solutions. Now we have one of the best opportunities to take advantage of the intersection with generational attitudes.
Generations X and Y clamor for mentoring, and some Boomers who came late to the game as mentees regret what they missed. I advocate and set up mentoring circles so that people have several people to draw on, since no one person can supply all the advice any one person of any age/generation needs. Here’s why I think mentoring circles are the best approach and some steps that can get your organization started setting up and running mentoring circles, whether internal to an employer, a professional or trade organization or an alumni group. Happy mentoring!
Despite the acknowledgement by leaders and human resource chiefs that succession planning is a top concern and business imperative, much too little is being done about it, especially now as more Baby Boomers inch toward potential retirement and the recovering economy leads to more mobility of talent. There are several reasons, including inertia and wishful thinking...
From our experience, the important obstacles talked about less frequently are lack of confidence in the potential leaders coming up behind the incumbents – as well as leaders, particularly founders, who are too reluctant to “let go.” This article focuses on finding and preparing successors internally.
The longer firms/organizations put off serious preparation for the next generation to step into the big Boomer shoes the greater the danger. The breather many organizations have allowed themselves during the past recession will leave them gasping for air. Succession planning and preparation is needed at all times. Anyone whose expertise and contacts will be missed can cause a serious business disruption and loss of clients/customers and other stakeholder relationships if quality transitions are not in the works. Part One of this topic focused on Boomers and Gen Y/Millennials. Part 2 focuses on opening the bottleneck for Gen X and assuring they are ready to take charge.
To achieve long-term success, it is extremely important to align succession planning with the strategic focus of the organization. Too often firms are not clear on their strategic focus, succession planning or both. Further, when these are undertaken, important stakeholders are frequently left out of the process. Unfortunately, the appropriate sense of urgency has not yet registered and led to necessary action.