New Delhi: One of the largest groups of millennials and Gen Zers are found in India, where they make up a sizable portion of the labour force. Due to the demographic change, new workplace dynamics and difficulties have emerged that call for creative solutions. Multigenerational mentoring is one of these options, which pairs up younger employees with more seasoned ones from various age groups to exchange knowledge and skills.
Multigenerational mentoring has many advantages. One benefit is that it aids in bridging the generational divide in the workforce, which frequently results in misconceptions and disputes. Additionally, it aids in the transfer of institutional knowledge from more seasoned workers to less seasoned ones, making sure that crucial abilities and knowledge are not lost as elder workers retire or transition to other positions.
But perhaps most significantly, multigenerational mentoring can support the formation of an organizational culture that values ongoing learning and growth. Employees must be able to quickly adjust to new technologies, business procedures, and market trends in a world that is changing rapidly. Organisations can establish a learning environment that promotes innovation, collaboration, and development by pairing younger employees with more seasoned mentors.
Data from a study carried out by Deloitte India corroborates the notion that intergenerational mentoring is essential to the success of both employees and organizations. According to the survey, nearly 80 per cent of millennials and Gen Zers prefer to learn from more seasoned workers, and more than 70 per cent think that mentorship is crucial to their professional growth.
Mentorship has been linked to better job satisfaction, higher salaries, and quicker professional advancement, according to a different LinkedIn study. The research found that employees who have mentors have a 130 per cent higher chance of getting promoted than those who don’t.
Nevertheless, despite these advantages, multi-generational mentorship programs have been sluggish to catch on in India. Others might be unsure of how to successfully pair mentors and mentees from different generations. Some may be reluctant to devote the time and resources necessary to implement such programs. However, the advantages of cross-generational mentoring are obvious, and businesses that reject it run the risk of sliding behind their rivals. Organizations can develop a culture of continuous learning and development that is advantageous to both individual employees and the organization as a whole by investing in mentorship programs that match younger and older employees.
In conclusion, the success of a company and its employees in India depends on multigenerational mentoring. Organizations can remain ahead of the curve in a world that is changing quickly by fostering a culture of continuous learning and development. This also helps to build a more sociable and effective workforce.
(Anand Dewan, Group CEO, BYLD Group)