Generations X and Y Poised to Take over Business World
Released on = January 2, 2007, 11:24 am
Press Release Author = Multicultural Business Council
Industry = Small Business
Press Release Summary = It appears the biggest stumbling block, attitude, to turning over leadership to the younger generations, may no longer be a problem.
Press Release Body = As Generations X and Y prepare to lead the business world, a survey by OfficeTeam shows that 51% of the older generations are very comfortable working for younger supervisors while only 11% would be uncomfortable reporting to someone younger. This is a powerful signal the time has come to hand over leadership reins.
Today the Builder generation is only interested in supplementing their retirement income and Baby Boomers seek less pressure at work. Both groups are shying away from the stress of high-level management positions. Both older generations have gotten over the stigma of reporting to younger and less experienced leaders. This means upper management who can confidently groom younger generations for leadership roles.
Multicultural Business Council (MBC), a cultural empowerment organization near Detroit, Michigan, has identified three essential steps for grooming Generations X and Y for leadership.
1. Educate future managers about generational differences. The common traits, strengths, weaknesses, and motivators of each generation can be identified by understanding the events and experiences the generations have held as a whole. This becomes a powerful knowledge for the Boomers and Builders drawing talent out of younger workers and how to relate to younger workers as they become bosses. Generations X and Y do not relate to the experiences that have formed and shaped the Boomers and Builders. MBC developed a concise workshop called "Managing Builders, Boomers, Xs, and Ys without Losing Your Zs." The workshop is divided in such a way that all four generations gain a clearer understanding of the workplace difficulties and misunderstandings between generations. Once individuals understand each generation they know how to create a harmonious and productive working environment. MBC\'s workshop is available in an online format throughout the world, hosted by Macomb Community College.
2. Assess future leaders to polish their leadership ability. With current projections by the governments of most countries, Xers and Yers will be required to assume leadership positions at a much younger age than their predecessors. Most estimates indicate three to 10 years are available for this assessment and development process. Best practices identified by MBC start with doing an assessment for cognitive skills, motivational energy, occupational interests, and personality traits. The assessments can be used to develop a growth plan to enhance leadership skills before it is necessary for the individual to actually take a leadership position.
3. Have a current secession plan for all key positions. Organizations need to develop secession plans to replace retiring Boomers. The same assessments used in step two can feed this secession plan. They have found assessments offered through Profiles International of Texas are excellent tools for the assessment and secession planning process. Visit www.mbcglobal.org for more details.
It is clearly time to begin the transition of turning business leadership over to younger generations while there is still time for the younger generation to be mentored and coached by the exiting Baby Boomers and Builders. However, unless the first steps of this journey are taken soon time will run out.
Web Site = http://www.mbcglobal.org
Contact Details = Rick Weaver||1720 Northumberland Drive, Suite 202||Rochester Hills , 48309||$$country||||248-802-6138||rick@mbcglobal.org||http://www.mbcglobal.org