What's #Trending Now? Multigenerational Workforce
Organizations are facing a unique challenge in managing today’s workforce. For the first time in history, the workplace demographic is made up of four different generations according to AARP. Millennials can find themselves working with colleagues who are more than 50 years their senior, while Baby Boomers finding themselves reporting to Gen Xers. What do companies have to do to effectively address and manage this unique intergenerational dynamics?
For starters, it’s important for organizations to have a full grasp on current generational trends. These trends include escalating competition for talent, different generations working side-by-side more so now than ever before, and the impact of the work environment has on productivity and business results. Organizations also need to understand what makes each generation unique and their characteristics at the workplace such as what motivates them and their preferred methods of communication.
Here’s a simple chart to help you compare and contrast:
|World War II Generation (born 1945 and before)||Baby Boom Generation (1946-1964)||Generation X (1965-1980)||Millennial Generation (1980-2000)|
|Also Goes By…||Traditionalists, Builders, Depression Babies, GI Joe Generation||Boomers, Vietnam Generation, and Me Generation||GenX, Baby Busters, Post-Boomers||Generation Y, Internet Generation, Digital Generation|
|Workforce Participation||5% (7 million)||38% (60 million)||32% (51 million)||25% (40 million|
|Motivation||Motivated when managers connect their actions to overall good of organization||Motivated by leaders who get them involved and show them how they can make a difference||Allow them to get the job done on their own schedule||Motivated when their managers connect their actions to their personal and career goals|
|Rewards||Tangible symbols of loyalty, commitment, and service including plaques and certificates||Personal appreciation, promotion, and recognition||Free time, upgraded resources, opportunities for development, bottom-line results, certifications to add to their resumes||Awards, certificates, tangible evidence of credibility|
|Preferred Communication Methods||Memos, letters, and personal notes||Phone calls, personal interaction||Voice mail, email||Instant messages, blogs, text messages, emails|
If you haven’t already, I urge you to read the research article by AARP. In addition to highlighting the trends and profiling each generation, it also discusses best management practices.