Why it’s time to embrace the multigenerational mindset

At this year’s Innovation Realized — the premier EY event for senior leaders focused on rethinking everything — I led a workshop on one of the biggest issues facing leaders today: the transformative effects of generational shifts. The complex landscape of intergenerational dynamics has major implications for employees and consumers — and the organizations that covet them both. Understanding these shifts, what is driving them and how to address them is critical to meet today’s business needs and to prepare for the inevitable changes ahead.

Here’s my perspective

Discussions about generational differences often spark largely unfounded negative biases toward certain age groups. A few of the misconceptions I commonly hear are, “Boomers are technophobes,” “Millennials are self-absorbed and entitled,” or “Gen Z doesn’t want to work.” I believe as organizational leaders we have a responsibility to dismantle these stereotypes and seek a genuine understanding of generational characteristics grounded in social science, not pop culture.

Social science vs. pop culture

The pop culture generational perspective is used by media outlets or marketing teams whose performance is measured by number of clicks vs. quality of content. This is the same strategy of social media influencers seeking to entertain vs. inform. Pop culture analysis has its value: predicting the next fashion trend, for example. But when applied as an assessment of generations, it lacks context and fosters divisiveness that stimies business growth. It propagates the “us vs. them” mentality far too common in generational discussions today. ?

The social science perspective uses generations as a framework to understand societal changes that occur over time. For example, analyzing how a Gen Xer viewed work and leisure when they were 18 years old vs. how an 18-year-old views them today. It focuses on understanding the emerging and unmet human needs resulting from these shifts that can create whitespace in the market. It helps us appreciate the distinctions that exist and can move us toward a more cohesive, multigenerational environment that propels our businesses, our workforce and our society forward to more positive outcomes.

Change is inevitable — embrace it

Every generation, by its nature, is born from change. They are influenced by global events and their lasting effects — wars, recessions, environmental crises, technological advancements, geopolitical shifts and other factors no one could have anticipated. Even when individuals don’t always agree, the shared experience of these dynamics changes how a generational cohort comes to perceive the world — and their role within it.

Exceptional events forge generational identities

Consider Gen Z, currently aged 17 to 27, who have already witnessed monumental changes. The oldest among them were toddlers when the Columbine massacre happened. School has never been a safe haven. In fact, it is often where they feel most at risk. They entered kindergarten in the shadow of 9/11. War and the threat of terrorism are part of their norm. They witnessed the collapse of global financial markets while still in grade school. Then there’s a global pandemic, uniquely affecting Gen Z by restricting in-person activities and socialization at a point in their lives when they should have been exploring independence. This pause essentially created a gap during a quintessential developmental phase that is the cornerstone for future confidence and resilience. When examining generational contrasts in the workplace, on the streets or at the point of sale, it’s vital for everyone — businesses leaders and consumers alike — to grasp the foundational experiences that shape attitudes, perceptions and behaviors.

The influence of technology expectations

Today’s workplace is a melting pot of generational experiences. Unlike the hefty manuals that accompanied the first personal computers of older generations, Gen Z’s introduction to technology was the intuitive smartphone. Gen X swapped paper maps for digital navigation at a click, while millennials pioneered the “always on” digital work life, blurring the boundaries between office and home. These shifts have shaped diverse expectations and behaviors, from Gen Z’s virtual social skills and rapid decision-making to millennials’ struggle to disconnect from work. Understanding these nuances is crucial for managers to effectively engage and motivate their teams.

Redefining work across ages

Each generation brings a unique view of work and values. When Boomers entered the workforce success was largely associated with stability and loyalty to one employer. Gen X, entering the workforce during economic uncertainty, became less trusting in the concept of “employer for life.” Career shifts became acceptable behavior, as long as they didn’t happen too often. Millennials, facing student debt and the Great Recession, largely lost faith in past concepts of wealth and status. Instead, they shifted us all toward seeking careers with more purpose. Gen Z, now rising in the workforce and brought up in a world both in crisis and one where the introduction of new disruptive technologies has become increasingly the norm, brings certain expectations for shared values, job benefits and flexibility — in addition to financial security. That’s a potent mix of conflicting perceptions and motivators for employers to juggle as they seek to retain talent and create work cultures that attract the best people.

Leveraging generational diversity for competitive advantage

?Generational diversity is not a negative — it is the stepping-stone to uncovering future ideation and opportunity. Each new generation brings fresh perspective, ideas and energy to the world. To get the most out of this societal evolution start with a genuine sense of curiosity about what makes individuals within each generation tick. This includes not making assumptions about our own generation. It also requires the ability to set aside judgement or bias, at least temporarily. I’ve found when leaders take this approach — as those who joined my workshop did — we most often discover that our commonalities far outweigh our differences.

The views reflected in this article are the views of the author and do not necessarily reflect the views of Ernst & Young LLP or other members of the global EY organization

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