Generational differences affecting productivity.

A new survey from the London School of Economics and global consulting firm Protiviti has found that friction between different generations is driving down productivity. The survey, of 1,450 employees in the finance, technology and professional services industries in the UK and USA, found that 25% of the employees surveyed self-reported low productivity, with 37% of Gen Z, 30% of Millennials, 22% of Gen X, and 14% of Baby Boomers reporting low productivity levels. Employees with managers more than twelve years their senior were nearly 1.5 times as likely to report low productivity.

Generational differences towards productivity can be seen in a variety of ways with differing attitudes towards work-life balance, career advancement and technological competence influencing individual productivity levels. Another issue that was flagged up by the survey is that there is a lack of collaboration between employees of different generations and, with some workplaces now having five different generations working together, the expectations and perspectives of each generation can make it difficult to build collaboration.

With differing work styles, strengths, and concerns, it is easy for misunderstandings, tensions, and conflict to appear. A management strategy that harnesses the distinctive skill set of each generation is therefore needed if the best results are to be achieved. This should include a commitment to a generationally diverse workforce which enables employees of every generation to have their opinions heard, advancement on merit rather than age and inclusive work practices that makes it easier for each generation to fit in.

By being aware of each employee’s framework of experience and their point of reference as well as generational work habits it’s possible to introduce management policies that foster an environment that generates business advantage. The LSE survey shows 87% of those surveyed reported higher productivity in organisations using multi-generationally inclusive work practices with Gen Z employees reporting low productivity dropping to 18% from 37% and from 30% to 13% for Millennials. And, in a tight recruitment market, there is the added benefit that employees working in multi-generationally inclusive workplaces are twice as likely to be satisfied with their jobs and are less likely to look for a new role.

With an ageing population and less young talent available to recruit it will become increasingly important for leaders to effectively manage multigenerational teams. This is particularly important with the OECD predicting that the UK, US, and the broader global economy will see a growth slowdown in 2024, putting pressure on organisations to increase productivity.

If managed correctly a multi-generational team will combine past learning with new perspectives, not only bringing greater efficiency and productivity but also the benefits that the insights and initiatives different age groups bring.  

The benefits of team collaboration.

A highly-motivated and engaged workforce that's in-tune with one another not only improves productivity and efficiency, but also the long-term well-being of individuals as well as enabling better idea-sharing and problem-solving.

A recent Stanford University study highlighted the benefits of effective team collaboration by showing that employees who were primed to act collaboratively stuck to their task 64% longer than those that worked alone, The research also reported higher engagement levels, lower fatigue levels and a higher success rate whilst another report by the Institute for Corporate Productivity showed that a collaborative approach helps companies by revealing that firms promoting collaborative working are five times more likely to be high performing.

Team collaboration refers to the process of working together towards a common goal or objective. In a collaborative team environment, individuals come together to share ideas, insights, and knowledge to achieve a shared goal and this is essential for achieving success in any organisation, as it allows individuals to leverage their unique strengths and expertise to create innovative solutions and drive results. When teams collaborate effectively, they achieve better outcomes than individuals working in isolation, by drawing on the diverse perspectives and experiences of all team members.

To foster effective team collaboration, it's important to establish clear communication channels, roles and responsibilities, and to set expectations around how individuals, teams and departments work together. This may involve defining shared goals and objectives, establishing processes for sharing information and ideas, and providing feedback and support to team members.

It is also essential to build a positive team culture that encourages openness, trust, and mutual respect among team members that will promote a growth mindset, continuous learning and development, and the recognition and celebration of individual and team achievements. The correct tools are also required so collaboration software and tools, such as project management software, communication platforms, and file-sharing tools, as well as training and support to help individuals use these tools effectively need to be in place.

Collaboration is all about making staff feel part of a team that is working towards the same goals so when everyone is fully invested and pulling in the same direction, the end result will be far more positive, for both the team and the company.

Ultimately, team collaboration can lead to more effective and efficient work processes, improved outcomes, and a stronger sense of community and purpose within organisations.