Dear Baby Boomer CEOs,

As I am sure you are aware, today’s workforce is filled with diversity.  That diversity not only includes race, color, national origin, religion, sex, gender identity, and sexual orientation, but also differences in generation!  Today’s workforce mainly consists of Baby Boomers, Gen Xers, and Millennials, and each generation has been shaped by different experiences and events, providing them with different beliefs and expectations about how the world works and what they want from life. This brings complexity, and CEOs who are able to develop leadership strategies and styles that appeal to an age-diverse organization will hold a competitive advantage. Here are some tips that may prove useful and can have direct impact on your business performance and the organization’s reputation:

-Establish an inclusive culture and be aware of any generational biases you hold. Be a champion of a multigenerational culture in your words and actions. This includes (but is not limited to) the individuals you involve in key decision-making, how you appoint your leadership team, and who participates in key project teams and task forces. It is important to demonstrate deliberate inclusion of people of all generations.

-Make the people around you successful. Every generation adds value, and you can’t afford to lose them pre-maturely. Focus on workplace coaching and mentoring.  Investing in a structured coaching and mentoring program will help you engage and retain younger generations to fill the roles of Baby Boomers when they inevitably retire. The great news is that both Gen Xers and Millennials are eager and committed to learn and desire coaching/mentoring as well as on-the-job training. Your efforts here are two-fold.  When you facilitate a structured coaching and mentoring process, experiential (on-the-job) learning happens as a result (when the mentees adjust their behaviors, attitudes, or perceptions and apply what they’ve learned to real-life experience).

-Hire an executive/leadership coach. You might wonder, “why should CEOs have coaches when previous generations managed without them?”  Well, the CEOs of the past simply weren’t faced with the same pressures and rapid change that you are today. More than ever, business leaders of today have to manage fast-paced changes in markets, technologies, and workforces!  Maybe you can handle it all on your own, but that increases your chances of burning out, which can result in lower-quality decisions, loss of opportunities, and damaged relationships. A coach can be a sounding board and a trusted advisor and help you gain alignment of your diverse team and workforce, engage them, and drive results.

Generational challenges are everywhere and addressing them can sometimes be an uphill task, but The Bailey Group is here to help.  Contact us today to hear more about our CEO Advisory services.