The Great Resignation: Part III
Generational Reasons for Resigning
This blog series is about The Great Resignation, which is going on right now. This is part three, What to Do, and we’ll be basing today’s discussion on the second great book by Gallup, called It’s the Manager, the sequel to First Break All the Rules, that we talked about in the last vlog.
It’s the Manager looks very closely at the differences of the two predominant generations now coming up in the workforce, that would be the Millennials, and Generation Z. And they have had a huge impact on people’s attitudes towards work, and work-life balance. And so we’re going to explore that in a little bit of detail here today. And again, this is all drawn from It’s the Manager, another must-have book in your library. If you want to make changes in your organization, to hire better employees and retain them, I highly recommend you get this book and study it and implement what they’re telling you in this book
6 Work Demands of Millennials and Gen Z
So this is an overview and a synopsis. What they talk about, in Its the Manager are the six big changes that are required, or are being required might be a better way to describe it, by the millennials, and by Generation Z. And in my opinion, these demands, these things that these new generations are demanding, really is what folks like myself have been preaching for decades, this is the right way to run a business, the right way to lead and grow your business.
1. Purpose Over Paycheck
And so the first of these big changes is the attitude towards the paycheck, paychecks are important. No doubt about it in the loss of buying power of the bulk of the workforce’s paycheck is a significant problem. However, the newer generations don’t view themselves working for just a paycheck, they want to have a purpose, they want to be a part of an organization that they can get behind and be inspired by what that business is contributing to the world. And so you want to have, as a business owner or business leader, you want to have a clear purpose, and something that differentiates your business, because that’s how you will engage and enroll your younger generation employees.
2. A Path for Career Development and Advancement
The second kind of titanic, big change that’s happening as a result of the Millennials and Generation Z, is it’s no longer simply about job satisfaction. I think back in the tail end of my dad’s generation, my dad was a part of the Greatest Generation, World War II veteran and his work experience in my work experience were very different. Although at the very tail end of his career, he kind of got burned by the old system. And that set me as a Boomer to be looking at not just job satisfaction, but what this latest new generation is looking for as well. And that’s pursuing development. It’s not just about am I enjoying my job, it’s about am I learning in my current role, so I can move on to the next role, whether that’s in this company or another company.
And so the idea of, you know, company loyalty, and people staying with businesses for their entire career. That bond, that contract that existed with the Greatest Generation kind of fell apart, really back in the late 70s, early 80s, it started unraveling, and you have a much more mobile and less locked into the status quo generation. And what they’re looking for is development. They’re looking for, how can this position that I’m in now, help me grow as an employee and as a human, which leads really well into their next big change.
3. Coaching Management Style
And that’s the thing they don’t want a boss. They don’t want somebody standing over them, telling them what to do. And honestly, whoever did want that, right. They want coaches, they want mentors, coaches that can help them learn and grow and become really good at what they’re doing. And so rather than somebody telling them what to do, they want somebody showing them how to do it, and then coaching them. So they become, you know, very proficient at their role, and are growing to the next role.
4. Ongoing Performance Conversations
And if you’re gonna have a coach, and it’d be growing toward the next role, the next assignment, annual reviews just aren’t frequent enough. You know, if the average employee is spending just a few years in your company, an annual review is way too infrequent to have a conversation with them. And the new generations are looking for an ongoing conversation, you should be meeting with all your employees, at least, and it’s an at least, once a week to talk about what they’re doing, how they’re doing, and have a conversation about what’s working, what’s not working. Kinda like, oh, coaching, right? Let’s coach folks to be successful. Not wait and have conversations after the fact, you know, way, way too late to do it annually.
5. Focus on Strength Development
And that, of course, leads into the fifth area, which is the Millennials of the Generations Zs don’t want managers who fixate on their weaknesses, but rather help them build on their strengths. So we talked about this a little bit in the last vlog, right? What was baked into me what’s in my DNA is in my DNA. And if things were left out, well, that’s just who I am, then I’m not going to change. And so the best way to help employees to coach employees to be the best they can be is to help them build on their strengths and find ways, and positions and jobs where their weaknesses are not a problem and their strength at a huge benefit to themselves in the business.
6. Life View
Okay, because overarching, all of these changes required by the Millennials and Generation Z’s is the fact that they’re not viewing this as simply a job. It’s life, right? We only have one life to live this generation more than any coming before it has had the luxury of realizing that, hey, I don’t have to put up with the crap that prior generations did. It’s my life, not going to spend a third of my life or half of my life, you know, doing something I don’t want to do, that I don’t enjoy, working for people who are assholes, right? It’s the manager, if the manager is a jerk, he’s a boss, not a coach. If he’s not having regular conversations with employees, their life, an important part of their life of your workforce is missing. And they care.
And they’re going to take action, and what action are they going to take? Well, if these things aren’t all there, guess what they do? They resign. They walk out the door. And it’s people with five and 10 years’ experience. That’s what the Millennials and the Generation Z, folks are now. They are walking out the door because they perceive you don’t care about them. You’re a cog in the wheel. If you view your workers as an object, and not as people, that’ll be the topic of our next blog.
You got an issue. And so think about these rules. Get your hands on It’s the Manager. Learn more about what you can do to create a culture that’s going to attract and enable you to retain your employees.
My name is Rick Phelps. I am a business coach with ActionCoach, those are my contact information. I would love to have a chat with you. Whether you agree, disagree or just want to have a good healthy discussion. Give me a call. Send me an email, send me a text. Have a great and profitable day.