Strengths And Weaknesses Of Different Personalities To Get Their Financial Life In Better Shape
People bring a lot of differences to work, like different personalities, moods, values, perceptions and emotions. When new people enter a business or an organization, their transient features affect their performance level and behavior. Furthermore, companies like to hire people with great potential; many want to believe in their values, skills and abilities. That’s why it is important to understand that individual characteristics matter a lot.
For a better financial future, you have to understand the people you’re managing. It all comes down to understanding your workers and their generation. Ernest & Young recently published a study that offered insights about professionals across different industries and generation. The research was focused on the strengths and weaknesses they had, based on their peers’ perceptions.
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Millenials for example, are technology gurus. Sadly they’re not that great at working in teams. Generation X is focused on entrepreneurship but their lack executive presence. And ultimately, boomers are loyal workers and great team players. However, they can’t adapt very well to new changes.
Management is shifting to younger generations
Companies are turning their attention to younger employees because they have great potential. They’re fast-learners and are capable of boosting their skill set without too much hassle. Needless to say, all three generations have strengths and weaknesses in the working environment, regardless of their domain. For a business to thrive and attain financial success, it must learn to adapt. Millenials (or generation Y) are thought to be the most experienced in technology advancements. They know everything there is to know about social media; they’re enthusiastic and financially responsible.
However, they’re also the most competitive. They don’t like to work “in teams” and this can affect the overall productivity of the company. Their brilliance can come in the way of their success. For them to have a better financial lifestyle, they must learn to adapt and work together with their colleagues. The greatest perk millenials have is connected to financial incentives. Unlike boomers or Generation X, millenials are not afraid of asking for what they want and deserve, namely: better working conditions, a better-paid salary package, promotions, and more.
Generation X – efficient managers with no executive presence
Generation X is incredibly productive. The people in this category are efficient managers. They have the skills to generate substantial revenue and they’re not afraid to go the extra mile to solve an issue. Furthermore, generation X is adaptive to different working conditions and they value the power of collaboration and working in teams. On the downside, they don’t have an executive presence and they’re not cost-efficient either. Flexibility at the workplace is generation X’s greatest asset. Unlike millenials who are more demanding, Gen X-ers don’t complain and they don’t usually leave their current jobs.
Baby boomers – productive & responsible
When it comes to being productive at the workplace, baby boomers are the best. They’re the most responsible workers within a company and they have the necessary skills to mentor others too. Baby boomers are great team players. Their flaw is that they can’t adapt and they’re not that collaborative either. Unlike Generation Y and X, their financial life is probably the most stable. Benefits include retirement and health care perks.
How do you hire the best people for your business?
Hiring the most competent people for your business can be tough for the HR department. It all comes down to the kind of company you run. IT and software development companies would most likely hire millenials. They’re the most experienced in spite of their lack of expertise. The good thing is that they’re fast learners and they don’t ask for high paychecks. To know more about what’s best for your company’s productivity, you might want to get risk analysis software; or least, hire a financial specialist to help you make the right selection.
It’s always a good idea to stay safe, and be sure that your company hires the best people to help increase productivity. Explore uncertainties, stay ahead of the competition, and foster original strategies to succeed. The secret ingredient for success and recognition in business is quality employees. Keep them happy and they’ll remain engaged. Engagement will preserve their drive and motivation to work harder and with a lot more enthusiasm.