A recent study undertaken by international talent management and recruitment agency Hudson offers some useful insights into the challenges posed by a multigenerational workplace.
Based on assessments of more than 28,000 professional men and women across the globe, the Great Generational Shift brings to light some interesting findings around how different generations conduct their working life.
Simon Moylan is the Hudson executive general manager of talent management for the Asia Pacific region. He says this study differs from other studies on the generation gap as it focuses on what drives the behaviour of each group.
The concept of good leadership is one area identified as having generational divergence. The desired characteristics of a leader differ in each group; this is significant because as Baby Boomers age and move out of the workforce the face of leadership is set to change dramatically.
Moylan says Baby Boomers are strong when it comes to the five traditional leadership traits. According to this analysis, leaders in the age group are strong at leading, decisive, motivating, persuasive and strategic. This is due to the work environment in which they developed.
"Baby Boomer leaders relied on charisma and persuasion to make things happen. In the days before the internet there was an information gap - information about company performance, strategy and vision wasn't readily available and the leaders would have to fill in these gaps for their staff."
This type of charismatic leadership doesn't impress Generation Y, however. The invention of the internet has democratised knowledge and such storytelling has lost its magic. Gen Y members are likely to have as much information as (if not more than) their Baby Boomer bosses and are happy to take them to task if they don't have facts straight.
"This generation is so highly informed that they will need a different type of leadership model," says Moylan. "The top-down Baby Boomer model doesn't work for them."
Gen Y-ers also have more social confidence and ambition than either Baby Boomers or Generation X. Expert at abstract thinking, they are more likely to rely on data they gain themselves than what is told to them by their managers.
Generation X-ers are positioned between the two polar extremes of Baby Boomers and Generation Y. They also have a strong concept of leadership, but it's not as authoritarian as the Baby Boomers' ideals. This generation successfully straddles the two, often acting as intermediaries between the traditional hierarchical style of their elders and their ambitious, youthful counterparts.
Typified by social progressiveness, Generation X members are change-oriented, and socially and cultural sensitive. But they also lack the dominant strengths of the other generational groups.
Moylan says the early experience of the different generations has played a large role in the way they interact in the workplace.
"When Generation X were kids they'd be playing on the streets together and a natural leader would emerge," says Moylan.
"Some kids would want to go to the playground and some would want to go and play football and they naturally learned how to negotiate around this."
He says that the parents of Generation Y kids were more protective and anxious - children's play time was highly moderated. This lack of freedom could play a part in the way they act in the workplace; strong leaders weren't allowed to develop, leading to a less stratified societal structure.
"The way we evolve as kids has a huge effect on the way we grow up," says Moylan.
Understanding the personality traits of these three groups may allow us to work together more efficiently in multigenerational workforces, according to Moylan.
If Baby Boomers learn to embrace change and avoid harsh judgments they will be more able to work effectively with Generation Y. And as Generation X moves into increasingly senior roles, its members will be able to utilise their social sensitivity to more effectively manage the younger generation.
This analysis also shines a light on the best type of work environments for each generation.
"The ability of Generation Y to think abstractly and conceptually makes them perfect for new start-ups and tech companies for example."
Conversely, Baby Boomers are ideal suited to more traditional companies that require consistency, a clear brand message and more stratified workforce.
He says Generation X is able to successfully negotiate the requirements of both type of workforce.
The insights gleaned by studies such as the Great Generational Shift can be a useful tool for negotiating between generations and defusing the conflicts that arise from preconceptions and misunderstandings.
If managers are able to understand the psychological drivers behind the generations in the workforce they will be better placed to utilise the innate skills offered by each.
"Organisations need to understand what it is that motivates their employees and connect the dots between what drives those in different ages and stages," Moylan says.
"The strengths that Baby Boomers and Generation Y possess actually complement each other well, with Generation X acting as the intermediary.
"When all these groups work together well, you have everything you need for an effective workforce."