Running a business involves dealing with different kind of people and different age groups. By recognizing and understanding the varying needs of people at different stages of their life and career could actually improve workplace productivity. Managers must be aware of the characteristics of the main workplace generations (Gen Y (aged 18-29), Gen X (aged 30-47) and baby boomers (aged 48-65)) and act accordingly regarding the communication style and compensations system.
Effective communication is one of the keys to effective business. In this respect managers must know that Gen Y is increasingly using instant messaging, yet all age groups prefer face-to-face communication. Employees motivation is also an important factor in the business success thus, one must know that in regard to rewards and bonuses, older workers prefer non-cash items such as time off work and training opportunities while Gen Y have a clear preference for monetary rewards.
Survey results also show that Continue reading ‘Differences between generations improve workplace productivity’
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