Speaking at the British Venture Capital Association (BVCA) Summit in London, Georgina Squire, head of the dispute resolution at Rosling King (RK), said resolving the conflicts between different generations of staff is now a key issue for businesses.

She said: “We are reliant on our people. They are our core. There is now quite a shift in how people view their jobs and careers and we have to address the clashes that can happen sometimes between different generations in the workplace. Businesses have to make every effort to help their teams gel better and hopefully that will result in greater retention of talent.”

Speaking at the BVCA Summit Women’s Networking Breakfast, sponsored by RK, Ursuline Edwards-Sutton, managing director of business consultancy Modus Operandi, said that millennials will form 75% of the workforce by 2025.

“There are often five generations working alongside each other in a workplace and that does lead to conflicts. Businesses need to be more flexible and fluid to meet the different expectations of their workforces. Millennials now value purpose over pay cheque and are looking for greater communication from their employers. They want personal development plans and training, they need praise and they want to be able to take career breaks. It’s not the same as it used to be in the workplace and, more than ever before, there is a need to manage talent well.”