Part 1: Designing a modern workplace for Millennials and Gen-Z
An incredible transformation has reshaped the future of work – from technological advancements to an endemic that is changing the rules of how we work. However, there is arguable a more influential change: The rise of a new generation that plans to make its mark on the workplace. Organisations today are grappling with this critical challenge – How to manage a successful transition in the workplace norms and behavioural protocols consistent with an ever-increasing percentage of participation of Millennials (Gen-Y) and Gen-Z in the workforce. According to recent research by the world economic forum, Gen-Z and millennials will comprise about 30% of the total workforce by 2023.
With the evolving context of multigenerational workforce playing out its own dynamic, leaders won’t be able to operate with a one-size-fits-all approach. What is increasingly becoming evident that as the major social influencers like technology, economy, education, parenting etc., are undergoing rapid evolutions, they in their wake bringing in important questions for the organizations as to how the new generation employees would learn, communicate, and work. For leaders and executives, the complexity of managing the diversity of multigeneration workforce will possibly be more demanding than that of earlier era.
The experts in the field of research in organizational behaviour are already observing interesting disruptions being brought in by the Millennials and gen Z in the existing business models and workplace cultures with their fresh and unique perspectives which is redefining expectations towards career, workplace norms, and work habits.
To understand the critical context of this issue, we recently interacted with two leading minds in the corporate world, Dr. Suleman Alvi, currently working as Country Head, Life Science, Martin Dow Specialities Pvt Ltd. and with Ms. Milagros Perez, CHRO, CHS Therapy & Rehab.
About Our Guests:
Milagros Perez, CHRO, Therapy & Rehab from Ohio
Mila Perez is the Chief Human Resources Officer for CHS Therapy and Rehab, a contract therapy company based in Cleveland, Ohio. She has over 25+ years of experience in Human Resources, both in functional and general HR leadership positions working next to a business leader as a business partner. She has held HR Leadership positions for large public multinational companies in the pharmaceutical, consumer goods and automotive parts manufacturing industries.
She has a Bachelor of Science degree in Psychology from the Ateneo University in Manila and a master’s degree in HR and Global Leadership from Baruch College, City University of New York.
Dr. Suleman Alvi, Country Head, Life Science, Martin Dow Specialities Pvt Ltd
A qualified Medical Doctor and an MBA holder with more than 22 years of practical experience working within progressively senior leadership roles for Abbott, AstraZeneca, and Sanofi. With P&L management experience, Suleman offers a wealth of knowledge across marketing, sales and business development at a country and regional level for Primary & Specialty Care.
He has completed his MBBs from Dow medical college in the year 1995 and has done his MBA from Lahore management studies in 2007.
Between them they shared a common viewpoint: For leaders and executives, managing multiple generations in the workplace may not be as easy as it sounds. Each defined generation can have different expectations, communication styles, and perspectives. Nevertheless, adopting a management strategy that addresses the distinctive characteristics of different generations in the workplace can allow employers to harness the respective strengths of their workforce and better compete in the marketplace.
We provide you with an excerpt from our interaction with them
NamanHR : Based on your observation, what percentage of workforce is currently constituted by millennials and Gen-Z put together?
NamanHR : What best describes the behaviour of the millennial and Gen-Z work force?
NamanHR : We have some rapid fires for you! – Loyalty, commitment, and values please tell us how these two new generations look at them?
NamanHR : Embracing Change; – How they respond to it?
NamanHR : What about Technology competence? – and what they exhibit respectively?
NamanHR : “Integration to the prevailing work environment”- how do they measure-up?
NamanHR: “Adhere to hierarchy”- how do they respond?
NamanHR: Do you consider that the millennials and Gen-Z represent a distinctly different challenge for the managers to understand them, especially if these mangers are from the era of baby boomers and Gen-X?
There are some clear generational differences between millennials and their younger counterpart in Gen-Z who are just entering the workplace today. Of course, every member of a generation is an individual and will have their own unique traits but keeping these insights in mind may help organisations prepare better to welcome this new generation to the working world.
Stay tuned with us for the next and the final part of this interview to better understand, manage, and lead this hugely significant workforce spread between Millennials (Gen-Y) and Gen-Z.