The business/work environment is changing very rapidly as four generations collide in the workplace. The traditional leadership style modeled on ‘administering and directing’ is currently facing a paradigm shift weighing over today’s model which requires ‘guiding and inspiring.’ Nevertheless, grasping the dynamics of today’s workforce remains as eminent and as wanting.
According to the 2015 Deloitte Millennial Survey, millennial employees think that the world of work needs to have a resent of focus; from a profits and personal reward oriented environment, to a people enriching and communal good outlook.
A good understanding of the multifaceted workforce is the first step in developing an effective leadership strategy, tells Mrs. Anne Gitau, Commission Secretary, Salaries and Remuneration Commission, who was the guest speaker in the MBA in Healthcare Management program.
Here are Mrs. Gitau’s assessments on making fruitful of the millennial and dynamic workforce.
These people have either worked for the same employer or in the same field their entire professional career and they thrive on stability.
They are characterised by hard work, dedication, sacrifice, respect for rules and honor.
Although they are now nearing retirement age, the baby-boomers still constitute a significant part of today’s workforce.
They are loyal employees, yet are more focused on personal growth and gratification over the goals of the company, making them more likely to switch jobs. (Post WW II to 1964)
This generation is more independent and confident than any previously known generation. They adapt quickly to change and are more accepting of diversity. Generation Xers need immediate gratification, leading them to sacrifice their personal lives for advancement and goal achievement at work
The Millennial workforce is one of the most important groups whose influence is projected to grow. This group is adaptive to change, tech-savvy, achievement oriented, diverse and communal. These traits manifest themselves through the need for independence and autonomy, challenge and variety, entrepreneurial traits, distrust of hierarchy and authority, lack of loyalty and unwillingness to commit, desire for fund and communal workplace and need for work-life balance. (1980’s – 2000).
ADAPTING OUR LEADERSHIP STYLES
ARE WE SETTING THE RIGHT SKILLS?
SRC’S FOCUS ON PEOPLE
Competition for talent is fierce in the 21st century and we focus on attracting, developing and retaining the best talent in our markets. We adopt the BUY, BORROW and BUILD approach for talent mapping and talent retention.
The buy bracket simply entails market mapping for talent, and strategic hires for specific skills which can be attained through graduate trainee programs, and such like strategies. The borrow strategy can be implemented during short- term assignment plans, Strategic projects and internal movements. As for the Build Strategy, this is crucial in Short and Long term assignments, Accelerate career development, Career mapping, Succession planning, and Overall learning and development agenda.
Bottom line is: For Millennial, conducting business with a purpose that goes beyond making profits is critically important in determining the kind of company they want to work for and the kind of company with whom they are willing to do business.”