“What’s wrong with the kids coming out of college, why they behave like by working for the company, they are doing a great service to you”, said the career banker, an entrepreneur and ex-CEO of one of the FinTech company, an arm of largest telco network in India. He continued “Don’t they realize that they should respect the job they have got and should be working hard to excel in their careers”. I can correlate with his pain. As a CEO or as an entrepreneur, you want to execute things faster. And its people in your organization who can help you achieve that.
I was looking at the issue of “getting work done” especially in Indian context. To analyze this, I have divided the workforce into 3 generations, from “1965 to 1998”, from “1999 to 2008” and “Post 2008”.
The generation who joined the workforce after 1965’s till 1998, their basic need was to put enough food on the table that family can have it the entire month.The government was the major job creator and India has started moving from socialist to a capitalist economy.
From 1999 to 2008, people who joined the workforce are interested in making sure family moves from lower middle class to upper middle class. And growing sectors like IT & IT enabled services, Banking and Pharma helped many people achieve this. The job priorities are to get more and more money, bonuses, and higher level roles in the company. In a way, this generation was high on extrinsic motivation than intrinsic motivations.
Post-2008 workforce is prominently the part of the knowledge economy. For them, enough food was already there on the table. For post-2008 workforce generation, their needs and priorities are bit different. They want the purpose of their life to be largely fulfilled by their work. They are delaying marriages so that they can attain a certain level of achievement in their career. Thankfully it will also help India in controlling the growing population. Young generation today are much more career-focused than the earlier generation and are much more demanding of their employers. They want to listen more from their CEO about the purpose of the organization, from their department heads and managers where they are heading to as a unit. They want more and more autonomy at work and coaching to attain the mastery. The minute they see the purpose of this organization is not meaningful enough, they are not getting enough coaching & flexibility to attain the mastery they will switch to your competitor. And it’s not that they don’t want money, but they are far less greedy than earlier generation. They are still high on extrinsic motivation, but very high on intrinsic motivations. To get a detailed understanding on this, I will highly recommend you to read “Drive” by Daniel Pink.
As CEO and as an organization, you want to get work done. And to get that done with utmost excellence in execution and quality. And you want to identify people in your company who can take your vision & priorities to next level. You are absolutely right in your ask. But the ways in which you want to get things done from post-2008 generation has just changed. The attention span of digitally enabled generation is far shorter than previous one. By
- Communicating you purpose, beliefs and expected behaviors,
- Defining right kind of performance metrics transparently,
- Enhancing your managerial effectiveness and
- by giving balanced flexibility, you will be able to take your organization to next level of growth.
The Younger generation doesn’t mind putting up extended hours of effort for your vision & purpose, only ask is to communicate that vision & purpose in a colloquial way and to make them feel the part of it.
Summary of Learnings:
- Post-2008 work generation doesn’t want corporate emails from your PA’s about your organization purpose, progress, and expected behaviors.
- Town Halls don’t work. Ask your leadership team to find a more colloquial way of communication.
- Define performance metrics transparently.
- Enhance your managerial effectiveness and help them become better coaches