For the first time in history, four generations are working side-by-side in the workforce, including the Traditionalists, Baby Boomers, Gen Xers and Gen Ys (or the much talked about Millennial Generation) and it’s expected that number could rise to five generations by 2020. Many current leaders are on the brink of retiring in record numbers, and it’s estimated that around 66% of all U.S. businesses are owned by Baby Boomers.
Team building can conjure up visions of high ropes courses and team scavenger hunts that are meant to build teamwork, trust and collaboration among employees. While activities can be useful, developing a team is less about scheduling offsite retreats and more about daily habits that build a strong culture.
A McKinsey study found that more than 90% of CEOs planned to increase investment in leadership development because they saw it as the most important human-capital issue their organizations faced. And for good reason – strong leadership in an organization not only drives results but is critical to a company’s success and overall health.