A New Report Seeks to Understand Generational Divides in the Workplace

<p>Generational tensions simmer beneath the veneer of modern workplaces,
subtly eroding productivity and stifling collaboration. The London School of
Economics and Political Science (LSE), in tandem with global consulting titan
Protiviti, delve into the nuances of intergenerational dynamics in a new report.</p><p>The Age Factor: A Productivity Paradox</p><p>In the ever-evolving landscape of modern workspaces, age disparities
between employees and their managers emerge as silent detractors of productivity.
The <a href="https://www.protiviti.com/uk-en/survey/lse-generations-survey">survey
of 1,450 professionals</a> across finance, technology, and professional
services in the UK and USA reveals a stark reality: Employees significantly
younger than their supervisors lament lower productivity levels, attributing
this malaise to a palpable lack of cross-generational cohesion. That’s the same,
be you in <a href="https://www.financemagnates.com/terms/f/forex/">forex</a>, trading, <a href="https://www.financemagnates.com/terms/p/payments/">payments</a> or more.</p><p>The key findings were:
</p><p>1.
25% of employees self-reported
low productivity</p><p>2.
Low levels of productivity were
reported by 37% of Gen Z, 30% of Millennials, 22% of Gen X, and 14% of Baby
Boomers</p><p>3.
Employees with larger age
gaps with their managers reported lower productivity. Those with managers more
than 12 years their senior are nearly 1.5 times as likely to report low
productivity</p><p>4.
Generations agree on the
skills that are most important to productivity and career advancement. The top
3 skills being: active listening, time-management and judgement and decision
making.</p><blockquote><p lang="en" dir="ltr">Friction between different generations in the workplace drives down productivity and firms need to develop intergenerationally inclusive work practices to combat this, says new research by <a href="https://twitter.com/profgracelordan?ref_src=twsrc%5Etfw">@profgracelordan</a> <a href="https://twitter.com/LSE_TII?ref_src=twsrc%5Etfw">@LSE_TII</a> in collaboration with <a href="https://twitter.com/Protiviti?ref_src=twsrc%5Etfw">@Protiviti</a>.<a href="https://t.co/biefxKqpPb">https://t.co/biefxKqpPb</a></p>— LSE (@LSEnews) <a href="https://twitter.com/LSEnews/status/1750808366824276394?ref_src=twsrc%5Etfw">January 26, 2024</a></blockquote><p>Generational Dissonance</p><p>A profound revelation emerges from the research: employees trying to bridge
considerable age gaps with their managers feel that they’re suffering from
reduced productivity. Those trailing managers by over a dozen years find
themselves grappling with productivity blues, nearly one and a half times more
frequently than their counterparts who are closer in age to their supervisors.</p><p>Skills Set: A Unified Vision for Progress</p><p>Across generational divides, a consensus emerges on the skills required
to be productive: Active listening, time management, and the art of judgement
and decision-making. Despite varying perspectives, the generations agree that
these pivotal skills are vital, perhaps created a blueprint with which to solve
the problem.</p><p>Navigating the Multigenerational Maze</p><p>As the global workforce becomes ever more age diverse, organizations will
come to a pivotal juncture. The imperative lies in fostering inclusivity across
the workforce, propelling productivity to new heights. Firms championing
intergenerationally inclusive practices are witnessing a meteoric rise in
productivity, especially among younger cohorts, according to the study. </p><p>Towards a Productive Future</p><p>Amidst forecasts of sluggish economic growth, the onus falls on
organizations to unlock the latent productivity potential residing within their
multigenerational cohorts. Dr. Grace Lordan, spearheading the research, had the
following to say, “I am not surprised that we discovered a ‘productivity
manager age gap’. There is good evidence that across generations individuals
have different tastes and preferences. So why do we expect them to work easily
together? We now have five generations working together in the workplace and
the skills that are required to manage these dynamics are not usually being
taught by firms. Our research shows that if we invest in giving these skills to
managers, and creating an intergenerationally inclusive workplaces there are
significant productivity gains to be had.”</p><p>Time for a sit-down and a chat, we think. Or perhaps we all just go <a href="https://www.financemagnates.com/tag/remote-work/" target="_blank" rel="follow">remote</a>…</p>

This article was written by Louis Parks at www.financemagnates.com.