Old really is GOLD

?? They say "old is gold" ??

Amidst all the buzz about Gen Z/Millennials and their unique working style, I am excited to share an interesting research finding from Great Manager Institute.

We conducted a study on managers across different age groups: Younger than 34 years, 34-44 years, 45-54 years, and 55+ years.

The results revealed an intriguing pattern:

While all managers demonstrated comparable leadership abilities, employees showed a higher willingness to stay with companies when working with older or more experienced managers.

Let's explore why this could be the case.

Being a borderline millennial-Gen Z manager myself, I've noticed that experienced managers excel in emotional intelligence (EQ). With age, we develop a higher level of emotional intelligence due to life experiences, interactions, and navigating tough situations. Skills such as empathy, self-awareness, and care only improve with time.

In my own organization, I've observed a stark difference in the ratings for 'care' when comparing my scores with those of some senior managers. This aligns with our findings on employee retention.

While EQ is a significant factor, I believe there could be other aspects contributing to this score as well. Here are a few potential factors worth considering:

• Experience and expertise: Older managers often bring a wealth of experience and deep expertise in their respective fields. Their knowledge, gained over the years, allows them to offer valuable insights, guide their teams effectively, and make informed decisions. Such expertise can inspire trust and confidence among employees, fostering loyalty and commitment to the company. One feels assured that if my manager believes in it - we can accomplish it.

• Stability and structure: Older managers tend to provide stability and consistency in the workplace. They often have well-established management styles, clear expectations, and consistent decision-making processes. This predictability creates a sense of security for employees, enhancing job satisfaction and reducing the desire to explore other opportunities. They tend to "stand up" when needed, and can say no, without succumbing to pressure from management.

• Mentorship and guidance: Experienced managers frequently serve as mentors and provide guidance to their team members. They offer invaluable support for career development, help employees navigate challenges, and nurture their growth. This mentorship relationship cultivates a supportive work environment where employees feel valued, leading to higher retention rates.

• Professional networks: Over time, older managers build extensive professional networks. These networks provide employees with access to valuable resources, industry contacts, and collaborative opportunities. The exposure to a broader professional community can enhance job satisfaction and the overall employee experience, making them more likely to stay with the company. Their network within and outside, also makes them very helpful & resourceful for younger employees.

To summarize, great managers SHINE well. They are "Self Aware", they "Harness" teams, they can "Influence", they "Nurture" and they have an "Executive Presence" to inspire their teams.

While it's essential to acknowledge the strengths of older managers, it's equally important to recognize that each generation brings unique perspectives and strengths to the table, and successful management relies on a diverse mix of experiences and abilities. Age alone may not determine the "retention quotient" of a manager and this warrants a deeper Study.

I'd love to hear your thoughts on this topic.

Do you agree that working with experienced managers positively impacts employee retention?

What other aspects do you believe contribute to this trend?

Let's continue the conversation and explore the multifaceted nature of effective leadership & retention across generations.

#Management #Leadership #EmployeeRetention #GenerationalDiversity