Catch-and-release hiring proves costly

The catch-and-release type of retention program costs employers anywhere from a few thousand dollars for hourly employees to tens of thousands of dollars for top executives. Beyond the monetary costs in replacement is the domino effect on other employees’ morale, customer loyalty and time spent in training new staff and filling in for the absent employee.

If you go to one of the popular search engines and type in “cost of employee turnover” many online calculators will appear. You can quickly determine how much it will cost your company to replace a particular employee.

One of the least understood factors in employee turnover is in the area of generational differences. For the first time in history, there are four generations employed in the workplace.

Keeping the mix of generations happy and working productively together is one key in the puzzle of employee retention. Each of these groups has a unique perspective on what represents job security and company loyalty.

Who’s in the work force?

First, some definitions:

• Traditionalists, War Babies or the G.I. Generation: These employees were born between 1922 and 1945. For the most part, this group would prefer to stay with one or two employers in their lifetimes. They receive satisfaction from a job well done. The key word for this group is “loyal.”

• Baby boomers: This group was born between 1946 and 1964. Baby boomers are into success and everything that goes with it, including the corner office. They will change jobs to improve their chances within their career niche. The key words for baby boomers are “competitive” and “optimistic.”

• Generation Xers: Those born between 1965 and 1980 fit this category. On the job, this group, who grew up tech-savvy, wants to have control over decisions that affect them. GenXers do not appreciate hierarchical structure, and if it becomes too defining, they will leave. They believe that freedom is the ultimate reward. GenXers are “skeptical.”

• Generation Nexters, Generation Ys or Millenials: They were born between 1981 and 2002. The youngest group in the work force has never known a world that didn’t include computers. They live at a fast pace, and they expect a workplace to be like “real life.” GenNexters believe in work that has meaning and in a collaborative workplace at all levels. The key words for this group are “practical” and “realistic.”

Integration

How can we integrate these four styles into a team, which pulls together instead of apart? How can you meld the style of a Traditionalist who operates by the rules with a GenNexter who questions the reasons behind each rule? How can a baby boomer understand a GenXer who would rather have a lower salary if it means more time off?

How can you manage a team when there is a 40- to 50-year age span?

How can you maintain employee retention when everyone who works for you has different goals?

The answers aren’t easy, but it does help if you understand the differences between the generations and implement a few easy steps.

Understand the differing goals of the generational groups. As a manager it is your job to understand the motivations of your employees. First, you need to analyze your own generational spin. I, for example, am a standard baby boomer. I have a difficult time understanding someone who finds benefits more important than base salary. I need to be aware that my (and my generation’s) quest to make money has destructive elements as well.

There are other sides to the employment puzzle. Understanding why an employee takes a job in the first place may be the first step in keeping that person on board. If that employee is from another generation, chances are that the motivations will be different than yours.

Be flexible in dealing with intergenerational styles. This step is difficult for any manager, and it takes time in planning. If you are a baby boomer and have a direct report who is a GenXer, you may have to spend more time that you usually would in building a communicative relationship. A GenXer with a GenNexter may need to set boundaries with very clear explanations. The traditionalist is going to have to “go with the flow.” Flexibility is going to have to be your watchword.

Appreciate each generation for gifts that they bring to the workplace.

Traditionalists are hard workers, a rock in time of strife and they bring a sense of structure to everything they touch.

Baby Boomers bring a sense of drive, competition and edginess to business. They understand competition and thrive on it.

GenXers can work fast and independently. If these people are motivated, they will come up with great ideas and implement them with little supervision.

GenNexters are on the cutting edge. They understand technology and innovation in surprising ways providing you don’t clip their wings too much.

Treat everyone fairly, but don’t try to treat people exactly the same. We each have different needs. In one position, I remember asking if I could work 9 a.m.–6 p.m. instead of 8 a.m.–5 p.m. My traditionalist boss said, “I can’t let you do that. Everyone would want to work different hours.” First, they wouldn’t. Secondly, what if they did? What would happen if you gave everyone a guideline of working within certain hours, but built flexibility within those hours? Look for ways to treat individuals with the uniqueness that they have.

Communicate face-to-face with your employees. Voice mail and e-mail may be the most efficient, but they won’t get you anywhere with baby boomers and traditionalists!

Understand the company history so that you can appreciate changes and traditions that have gone before.

Some people view generational differences in much the same way they view astrological horoscopes: Somewhat interesting, but not that important.

This only touches on the concept of generational differences. I challenge you to look around your office and see if you might make improvements, especially in communication, based on these ideas.

Instead of a catch-and-release system of employment, you may very well create an effective intergenerational team.

Sinara Stull O’Donnell is a professional speaker and writer through Springfield-based SinaraSpeaks. She is the author of “Be The Star Of Your Life: Are You Ready For Your Close-Up?” She can be reached at sinaraspeaks@earthlink.com or www.sinaraspeaks.com.