Six changes needed for Sustainable Leadership
"Today's generation of employees are so entitled"
That's what I was told recently by a senior manager I was working with. "We can't get them to stay without having to bow down to a whole list of demands."
It's evident that our children don't want the same from their job as we did. The world of work has changed and we need to change with it if we want to lead our organisations to be sustainable in the long term; it seems that the old way has died and the new way has emerged.
This recent pandemic has provided the storm that has washed away the old way that had already started to die, and allowed the new way to start to flourish. If we want to lead our organisations into a sustainable future we need to embrace this new way or go the way of the dinosaurs.
The analytics and advisory firm Gallup puts it this way: "Gallup recommends that organizations immediately change their cultures from old-will to new-will" and went on to recommend that to attract and retain good people there are 6 changes we need to make in order to minimise staff churn, to increase staff engagement, and to maximise sustainable growth.
My generation experienced the remnants of a job for life, final salary pensions, annual appraisals, bosses who were "always right", and to get paid and make progress at work we had to follow their lead. I grew up in a world where the purpose of business was to maximise shareholder value and where annual appraisals were used to draw attention to my weaknesses and instruct me to address them. That's what the old-will is all about. The new-will introduces a new paradigm, the new workplace culture that younger staff members seek, which will keep them engaged at work.
People under 40 today want a "great job", which they define as one where they can identify and align with the purpose of the organisation, they want to know that they are engaged in meaningful and fulfilling work that makes a difference, that their contributions are recognised and that their strengths are developed. No longer is it good enough for employers to say "you get paid every month, don't you?".
Gallup has uncovered evidence showing that today, disengaged workers will move to another employer for any increase, whereas engaged workers will need at least a 20% increase in remuneration to even think about moving on to a new employer. So, what are these 6 changes needed for sustainable leadership? Here's what Gallup has to say about Millennials and GenZ (that’s employees born after 1980, ie currently aged under 43).
(Taken From Gallup's largest global survey of "the Future of Work"):
Wages or Purpose
Millennials and Generation Z don't just work for a paycheck - they want a purpose. For people in these generations, their work must have meaning. They want to work for organizations with a mission and purpose. In the past, baby boomers and other generations didn't necessarily need meaning in their jobs. They just wanted a paycheck. Their mission and purpose were their families and communities. For millennials and Generation Z, compensation is important and must be fair, but it's no longer their primary motivation. The emphasis for these generations has switched from paycheck to purpose - and so should your culture.
Job satisfaction or Career progression
Millennials and Generation I are no longer pursuing job satisfaction- they are pursuing development. Most members of these generations don't care about the bells and whistles in many workplaces today - the ping-pong tables, fancy latte machines and free food that companies offer to try to create job satisfaction. Giving out toys and entitlements is a leadership mistake. And worse, it's condescending.
Bosses or Coaches
Millennials and Generation Z don't want bosses - they want coaches. The role of an old-style boss is command and control. But millennials and Generation Z, care about having team leaders who can coach them, who value them as individuals and employees, and who help them understand and build their strengths.
Annual feedback or Regular dialogue
Millennials and Generation Z don't want annual reviews - they want ongoing conversations. How these generations communicate - texting, tweeting, Skype, etc. - is immediate and continuous. Millennials and Generation Z, are accustomed to constant communication and feedback, and this dramatically affects the workplace. Annual reviews on their own have never worked.
Annual weakness review or Frequent strengths development
Millennials and Generation Z don't want a manager who fixates on their weaknesses. Gallup's research shows that weaknesses never develop into strengths, while strengths develop infinitely. Your organization should not ignore weaknesses. Rather, you should understand weaknesses but maximize strengths. A strengths-based culture also helps you attract and keep star team members.
It's just a job or It's my life
It's not my job - it's my life. As we noted earlier, one of Gallup's discoveries is that what everyone in the world wants is a good job. This is especially true for millennials and Generation Z. More so than ever in the history of corporate culture, employees are asking, "Does this organization value my strengths and my contribution? Does this organization give me the chance to do what I do best every day?" Because for millennials and Generation Z, a job is no longer just a job - it's their life.
So What!
Where there's a new will there's a new-way; a new way to lead your organisation sustainably into the new era that's emerging post-COVID and I'd love to work with you to help you to lead your organisation to be collaborative and cause-driven.
Why not call me on +44 7812 356631 or arrange a time to chat here: let's chat.
