Getting the Most Out of a Multi-generational Workforce

Businesses today have workforces that cross as many as four generations. It can be difficult navigating the challenges of an intergenerational workplace, but by taking the time to consider all the ideas of young and older employees the business can benefit.

Workplace diversity is shifting. It is estimated that about 40% of the workforce is made up of boomers; 35% Generation X and 25% Generation Y. It is estimated that 75% of the population will be made up of millennials by 2025.

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Older generations are now working longer and retiring at later ages while, at the same time, younger workers are entering the workforce more educated, and with higher aspirations/expectations for career progress. Younger generations are less focused on long-term career goals, and like to have the option of more flexible hours. Younger, ambitious workers are less willing to put in longer-term work at an organization for the promise of a promotion. If younger workers do not see the opportunity for progression in the workplace, they will leave and go somewhere else. In dealing with younger generation employees, companies should listen and be open to their ideas, give them the freedom to do their job, and recognize them for their efforts. Also, businesses need to look at improving things like available technology and access to social media.

Although the preoccupation of different generations of workers may differ, all workers have similar desires for leadership and organizational culture.  Workers want to have supervisors who create a respectful work environment, and provide clear expectations in relation to job performance. By creating an organizational culture and social environment that facilitates communication between the generations, and by listening to staff feedback, businesses will continue to grow and innovate.

Taking advantage of all levels of skill sets and combining them is the best way for businesses to take advantage of multi-generational staff. Older workers provide the experience that younger workers have yet to gain. Younger staff are better at adapting to new technologies, using social media, and multitasking.  Mentoring programs that have more experienced employees mentoring ambitious young staff is one way to bridge the generational divide. By getting the different generations working and socializing together, the generations in time will better understand each other.

Rewards and recognition have different implications for different generational groups. Boomers seek public recognition for their individual efforts, while millennials are more team oriented. It is important that businesses have reward and recognition programs that recognize these differences. Also, benefits coverage needs to take into consideration a range of generational desires. Older generations (boomers) desire comprehensive programs, while younger workers are not as interested in these programs.

As workplace diversity continues to change, and multi-generational workplaces become more prevalent, business will need to adapt their policies to better navigate the generational differences.

In our opinion, businesses can benefit from taking advantage of the different age and experience levels of employees. Businesses can take advantage of the experience of older workers, and also the new perspectives and ideas that younger workers bring to the workplace. We think that mentorship programs are a good way to take advantage of the diversity of ages in the workforce, while preparing the future generation of workers.

However, we do not believe that the younger generation is being given as many opportunities today. Youth unemployment, especially among university and college graduates, is high. It seems that young workers are finding it harder to find jobs in their field of study when they graduate. Young workers are also underemployed, meaning that individuals with university degrees and high education levels are working in positions where they are overqualified educationally; these jobs are often part-time, temporary, or casual.

In our opinion, young staff can grow and develop in the business arena, but only if they are able to outcompete the growing number of young, unemployed job hopefuls. Many companies are looking for experience when they are hiring staff, and most young workers do not have the necessary qualifications. Finding employment is also difficult for younger workers because they are now competing with more experienced workers who have been laid off or are working towards starting a new career. Also, with more experienced workers retiring later, positions are not as readily available.  This combination of factors is making finding stable employment extremely challenging for young workers, which is concerning to say the least.

Here are some questions to discuss:

1.  What are some of the advantages to having a multi-generational workforce?

2.  Do you think having a mentorship program would help bridge the generational divide in the workplace?

3.  Reflect on the age diversity of your workplace. How would you describe the relationship between the different generations in your workplace?

Deveau. D. (2012, October 29). Getting the Most Out of a Multi-generational Workforce. National Post. Retrieved from http://business.financialpost.com/2012/10/29/getting-the-most-out-of-a-multi-generational-workforce/?__lsa=a6e1-7f3b