What are the implications for not preparing for the various generations in the workplace?

If you are an executive, do you regularly or occasionally meet with your Chief HR Officer and have rigorous discussions to explore the impact the current trends will have on shaping your company over the next decade?  What steps are you taking; what research have you done, what exploratory frameworks have you considered to enhance your strategies to leverage the opportunity? I ask these questions as I believe there are many unique trends occurring which will indeed shape the near future. As a HR professional, I find myself curious about the fact that we live in a world where the playing field has changed. Not only are we working now with multiple generations (4 generations) in the workplace, but the fact that everything from engagement, to recruiting, development, rewarding and retention with the various individuals from the different generations are crucial elements. Ask yourself, are you using a cooking cutter methodology? Is your HR team up for this challenge, and do you support them to be exploratory and have the tools and resources to get the job done? Another element which jumps to the forefront of my mind is coaching. Sure we have all heard it, “Our leaders and managers are coaching, and their leadership style is that of a coach”. Really? Are they equipped to provide ongoing feedback in real time? Knowing that one of the characteristics of Gen Y is transparency and feedback, as well as opportunities for learning and growth, is your team of managers exceptional at providing adhoc feedback to drive growth and development? I recently read that Gen Y employees only intend to be a part of a company for something like up to 3 years. If that is the case, I can’t help but ask the questions related to how are you measuring their ROI, their impact, their development during their time with you etc.? What strategies do you have in place to collaborate and make it mutually beneficial? Another question is, do you know what motivates your Gen Yers? If you aren’t aware of their values and motivators, how are you developing your strategies for attracting, developing and retaining them? What about their learning preferences? Are you tailoring their learning experiences to best suit their preferences, or are you still signing up to vendors which offer lecture style sessions with reduced experiential activities? I certainly do not claim to know much about all the generations, but I find myself very curious and constantly striving to learn more. Should you have thoughts, questions, insights or resources about this topic, please do share. Let’s continue to explore together!