A new MetLife Mature Market Institute study, conducted in partnership with Boston College’s Sloan Center on Aging & Work, indicates that the economic downturn has had a greater psychological effect on younger workers than it has on workers of the Baby Boomer and Traditionalist generations. The results of the study are summarized in the report, Engaging the 21st Century Multi-Generational Workforce.

The primary focus of the study was on whether generational differences matter when it comes to employee engagement. The study found this to be true. There is a distinctive difference in what impacts different employees. While the insight into engaging the different generations is reason enough to download the report, it is particularly interesting to read the findings related to how different groups of employees are weathering the economic storm. 

Employees from both Generation Y (age 26 and younger) and Generation X (age 27 to 42) reported a drop in engagement, while employees in the Baby Boomer and Traditionalist generations reported almost no change in engagement. This anomaly may be because younger employees have not been through similar tough times, while Baby Boomers and Traditionalists have. Through their past experiences, Boomers and Traditionalists have discovered that tough times will get better. Therefore, on a whole, older workers are better able to adjust. 

The study echoes a recent Business Week article about how the recession is impacting the country’s youth. The “Age of Anxiety” piece reported that the younger generation of our country are commencing their careers at a frightful time, and their initial employment choices may have financial ramifications for many years.

Both the MetLife study and the Business Week article indicate that managers need to do more to help younger workers cope with the anxiety of living and working in a recession. 

You may feel that you don’t have time to “coddle” younger workers, given all of the other demands you face. To the contrary, my experiences and those of Harvard professor Bob Sutton have shown that when workers become overwhelmed by stress, overall productivity in the work place will decline.

If you are a Baby Boomer or Traditionalist boss, find time to have conversations with your younger workers about how they are feeling and coping. Sharing personal stories from prior recessions and tips to pull through the stressful times in a positive manner will go a long way in improving younger employee’s work ethic, and ultimately the team’s results.

I recently worked with a vice president from a defense company to create a town hall meeting that allowed and encouraged her more tenured team members to connect with the newer folks. The experienced employees shared their suggestions for dealing with chaos, anxiety, and overwork. The immediate result was a palpable sense of relief in the room and a heightened level of energy across the team.

Good leaders recognize that when anxiety is running high, employee communication is not optional, it’s imperative. A little extra time and attention on youger employees just learning to cope with these troubling times will be an investment that pays off again and again.

Wendy Mack is a consultant, speaker, and author who specializes in leading and communicating change. Download her free e-book, “Transforming Anxiety into Energy”
at www.WendyMack.com.