Leadership

By Steve Saah, Executive Director of Finance and Accounting Permanent Placement, Robert HalfSmall and midsize business leaders who view their multigenerational workforce as a source of competitive advantage have the right outlook. Sure, it can be challenging to create a cohesive and productive work environment when you have four or even five different generations working in your organization. But harnessing the strengths of each group, from the Silent Generation to Generation Z, can create significant upside for your business — and help position your firm for future success.Improved retention of in-demand professionals is one positive outcome you can experience when you invest in and focus on nurturing your multigenerational workforce. Taking the time to understand what motivates all your employees to work for your firm and perform at their best is vital to holding on to top talent. When employees feel valued and understood, regardless of their age or level of professional experience, they are more likely to be engaged and loyal.Other compelling benefits your company can realize when you have a multigenerational team include the following:Access todiverse perspectives that help drive innovationA workforce composed of multiple generations offers a rich diversity of thought ready to be tapped. Seasoned employees bring decades of experience and deep industry knowledge, while up-and-coming professionals can introduce fresh ideas and new approaches.This blend of perspectives can lead to more creative problem-solving and innovation that leads to the development of new offerings and solutions that can differentiate your small or midsize business.Greater ability to build well-rounded teams ready to tackle diverse challengesEach generation of workers possesses distinct skill sets that can deepen your firm’s readiness to pursue new opportunities and adapt to change.Baby boomers and Generation X employees, for example, often have strong leadership skills and a thorough understanding of business processes and best practices. And millennials and Generation Z tend to be particularly adept at using the latest technology and digital tools, which can help you modernize your company’s operations.Mentorship and knowledge transfer — both structured and organicThe coexistence of multiple generations in the workplace provides a natural environment for mentorship. Experienced team members can share their wisdom and insights with colleagues just starting to forge their career path.Less traditional arrangements, like reverse and peer-to-peer mentoring, can also help create a more inclusive learning environment for everyone who is keen to learn and grow professionally. Making the point to deploy generationally diverse teams on projects can help foster organic knowledge sharing, too.Improved customer relationsand satisfactionIf your workforce is diverse, then your company will be better positioned to attract and serve a diverse customer base. While this is not always the case, employees from different age groups do tend to relate to and connect more naturally with clients of their own generation.The ability to understand and meet the needs of a wide range of customers can sharpen your competitive edge and help you grow your small or midsize business. Strategies to create a high-performing multigenerational workforce You can take several approaches to maximize the potential of your multigenerational workforce. Encouraging cross-generational collaboration through mentoring arrangements and the creation of diverse project teams was already mentioned. Here are three more strategies to consider. 1. Offer flexible work policies Robert Half’s Demand for Skilled Talent report notes that a common cause of churn in today’s workforce is employees’ desire for flexible work options. Leading employers recognize that hybrid and remote work arrangements can help them attract skilled candidates while also keeping top performers from eyeing the exit door. In fact, our workplace research found that nearly half (46%) of employers are offering these options specifically to retain valued talent.While you’ll be hard-pressed to find a professional who doesn’t appreciate the opportunity to set their own schedule or work off-site when needed, when it comes to how much work flexibility influences overall job satisfaction, there are generational differences.For example, Robert Half’s research for Examining the Multigenerational Workforce found that work flexibility matters more to Generation Z professionals than it does to millennials, Gen X. 2. Provide continuous training and development Prioritize efforts to foster a corporate culture of continuous learning and create generationally inclusive programs that cater to employees’ diverse learning preferences. In addition to mentorship programs, you could offer access to learning options such as in-person workshops and online courses, including those that can help everyone ramp up with new technology like generative AI.Be sure to regularly assess and adapt your learning programs to meet your employees’ evolving needs and career stages, leveraging feedback from staff members across all age groups. This can help promote employee engagement. And when you take the time to understand what your workers want, you can create meaningful career pathways for them and more confidently develop succession plans. 3. Maintain effective communication channels Each employee is unique, and acknowledging that can help you be more successful at managing a multigenerational workforce. It’s good practice to adapt your management style to suit the strengths, personality and aspirations of each individual employee. That said, you’ll still need to take generational preferences and expectations into consideration, especially when it comes to communication.For instance, you may find that your employees in the Silent Generation or baby boomer set have no issue hopping on a video call when needed, but they might prefer to have face-to-face meetings or phone calls. Your Gen X employees, meanwhile, might favor email communication. And your team members from Generation Z might be avid users of instant messaging apps.Your challenge as a small or midsize business leader is to be ready to communicate effectively through all channels your staff members use at work. As for your overall approach, strive to be clear, concise and adaptable in your messaging, encourage open dialogue, and actively solicit and listen to feedback from everyone on your team. Making this effort is crucial to helping employees from every generation in your workplace to feel heard and valued.  Remember that every employee is an individual There is no one-size-fits-all approach to managing employees. Every person is unique, and their approach to work and … Read more

What’s behind the rise in interim CEOs High turnover in the C-suite and the changing needs of business are leading to more “temps” in the top job. ello and welcome to Modern CEO! I’m Stephanie Mehta, CEO and chief content officer of Mansueto Ventures. Each week this newsletter explores inclusive approaches to leadership drawn from conversations with executives and entrepreneurs, and from the pages of Inc. and Fast Company. If you received this newsletter from a friend, you can sign up to get it yourself every Monday morning.Interim leadership is on the rise in the U.S. Nearly a quarter of new CEOs named in the first two months of 2025 were hired on an interim basis, versus 8 percent in the same period last year, according to a recent report from Challenger, Gray & Christmas. The surge in interim leadership coincides with significant tumult in the C-suite. The Challenger report shows that 247 U.S. companies named new CEOs in February, the second-highest total for any month since the firm started tracking CEO changes in 2002. “A lot of times when a company brings in an interim CEO it’s when they’ve been caught off guard by the CEO’s departure,” says Andy Challenger, senior vice president of the outplacement firm. “It’s not part of a structured succession plan.” An interim CEO can buy a board time to conduct a thoughtful search for the right executive, especially if it feels the company needs skills that the existing leadership team lacks. Management experts say they’re also seeing companies—particularly mid-market and investor-backed businesses—hire temporary CEOs during changes such as restructuring, merger integration, or executing a new strategy. “Their expertise can be crucial to navigating complex changes that require seasoned leadership—even temporary solutions can be transformative for an organization,” says Sunny Ackerman, global managing partner of on-demand talent at Heidrick & Struggles, the executive search firmThe Temp-to-perm CEO Interim roles also can serve as a “tryout” for prospective CEO candidates. And companies can engage an interim executive while they figure out what they need in a leader. Ackerman recalls working with her team on an early-stage medical technology company that sought to replace its founder with a full-time CEO. Heidrick & Struggles brought in a life sciences consultant who had been a CEO to create a plan for market entry. The board then hired that consultant as interim CEO to execute the plan. Once they saw his operational skills and market expertise in practice, the board eventually decided to convert him to permanent CEO. Other temp-to-perm CEOs include Chipotle’s Scott Boatwright, who went from interim in August 2024 to permanent status three months later, and Lance Tucker, who last month was named CEO of Jack in the Box after a 36-day stint as interim CEO of the restaurant company. Avoid leadership limbo Companies need to be careful not to let interim leadership linger. “If [an] interim is in place too long, it may communicate the wrong message to the market and employees and create uncertainty about the future leadership of the organization and its strategy,” says Janice Ellig, CEO of executive search firm Ellig Group. “Employees and the market like certainty. They want to know who is at the helm and what direction they are headed.” And in the absence of clear guidance from the board, some interim chiefs may act like caretakers instead of leaders, causing the company to lose ground during the search for a permanent CEO. One thing’s for sure: interim CEOs aren’t going away. Ackerman notes that many of the CEOs exiting business right now are Baby Boomer and Gen X retirees who are eager to remain active by taking on interim roles, “generating a larger pool of independent talent than we’ve ever seen before,” she says.