Impact of a Workforce Spanning Multiple Generations

figure1:multiple genarations; source(jpgriffin group, 2018).

 

One definition of a multigenerational workforce is one in which the workforce is comprised of employees of varying ages. There are people at all levels of society, with varying levels of education, employment, technological sophistication, family and health status, resilience in the face of adversity, and the ability to make consequential judgments. There has been an increase in the human longevity, and as a result, a growing number of people are electing to continue working much past the traditional retirement age (Boatman, 2021).

Due to the age variety in the workforce today, it is now usual for firms to have personnel representing five generations collaborating with one another (Hyman, 2019). These classifications are as follows,

·       Generation Z (ages 18-24)

Gen Z members were born between 1995 and 2004, making them the first generation to enter the workforce with "hyper-cognitive" digital skills.

·       Millennials (ages 24-38)

Born between 1981 and 1995, the millennial generation is also known as Generation Y. Millennials are one of the most educated and racially and culturally diverse generations.

·       Generation X (ages 39-54)

Born between 1965 and 1980, Gen X straddles the eras of baby boomers and millennials. They take their careers very seriously and bring a high level of originality and autonomy to their jobs.

·       Baby Boomers (ages 55-73)

Between 1946 and 1964, baby boomers were born. Currently, two-thirds of the workforce is retired. Boomers take pleasure in hard work, cherish the conventional employee-supervisor relationship, and frequently prefer to deliver results.

·       The Traditionalist Generation

The Veterans Generation and the Silent Generation are other names for the Greatest Generation. Patriotism, teamwork, sacrifice, "doing more with less," and task orientation define this generation. Respect orders and authorities (karenmccullough, n.d.).


figure2: genarations in the workplace; source(Morris, 2021)


Benefits of a multigenerational workforce

Age-diverse personnel add value to your company. Current generations are more habituated to fast-growing technology and can adapt to its changes. Experienced workers have gathered expertise that can help them make informed decisions. New ideas and old wisdom increase productivity. Below are just a few of the many advantages of employing people from different generations.

·       Multiple viewpoints

Different generations approach jobs differently. Sharing perspectives within and across teams boosts innovation (Boatman, 2021).

 ·       Higher employee retention and productivity

Knowledge transfer and skill development boost motivation and output. It improves worker morale and teamwork. Multigenerational employees can contribute and gain knowledge at work. When employees feel valued and have a purpose, they remain in their positions longer (deskbird , 2022).

 ·       Greater Flexibility and Adaptability

Workers from many generations might be more adaptable. Age-diverse staff bring unique perspectives. Younger employees may be more tech-savvy and able to notice changes, whereas more seasoned employees may grasp business culture and traditions. Diversification enables organizations to adapt to new challenges (Davis, 2022).

.·       Possibilities for training and mentoring

Experts mentor less-experienced ones. able to teach less-experienced workers new approaches and avoid errors. Still, young talent is needed. In a reverse mentorship session, younger coworkers aid older workers with ideas like user-friendly technology (Lee, 2019).


Conclusion

Multigenerational workers boost output, profits, and problem-solving. More diversity, mentoring, and expert exchange will engage people. Age affects ideas and talents. Diversity and creativity may grow. Work-life balance is easier in intergenerational workplaces. It may be easier to meet employee needs. Diverse ages can help your company reflect the community. Employing people from diverse backgrounds can boost business.


References

deskbird , 2022. Managing Multiple Generations: Expectations and Best Practices. [Online]
Available at: https://www.deskbird.com/blog/multigenerational-workforce
[Accessed 02 12 2022].

jpgriffin group, 2018. Employee Benefits Blog. [Online]
Available at: https://www.griffinbenefits.com/blog/how-to-provide-benefits-multigenerational-workforce
[Accessed 03 12 2022].

karenmccullough, n.d. The Traditionalist Generation – Still Working and Still Killin’ It!. [Online]
Available at: https://www.karenmccullough.com/traditionalist-generation-still-killin/
[Accessed 03 12 2022].

 Boatman, A. (2021) Understanding Today’s Multigenerational Workforce: Benefits, Challenges, and 9 Best Management Practices, AIHR. Available at: https://www.aihr.com/blog/multigenerational-workforce/ (Accessed: December 3, 2022).

Lee, H. R. (2019) Advantages of Generational Diversity, Inter-Generational Diversity and Inclusion Expert - Henry Rose Lee. Available at: https://www.intergenerationalexpert.com/ten-advantages-that-generational-diversity-brings-to-the-workplace/ (Accessed: December 3, 2022).

Davis, J. P. (2022) Multigenerational Workforce: What Is It, Its Benefits & Its Challenges, Making Business Matter. Available at: https://www.makingbusinessmatter.co.uk/multigenerational-workforce/ (Accessed: December 3, 2022).

Hyman , G. (2019) How to Manage a Multigenerational Workforce, Oracle NetSuite. Available at: https://www.netsuite.com/portal/resource/articles/human-resources/multigenerational-workforce.shtml (Accessed: December 3, 2022).

Morris, A. (2021) Generations in the workplace training: multi-generation workplace, Employee Experience Magazine. Available at: https://www.emexmag.com/generations-in-the-workplace-training/ (Accessed: December 3, 2022).

Comments

  1. Rusan SahthiDecember 3, 2022 at 9:22 PM

    Great article! It's so important to understand the impact of having a diverse workforce in terms of both age and experience. The benefits of having multiple generations in the workplace are many - from increased productivity to better communication and even problem-solving. It's important to recognize the unique strengths and priorities of each generation, so that employers can better leverage those strengths to create a successful and productive working environment.

    ReplyDelete
  2. W.M Dananjaya Jayaweera BandaraDecember 8, 2022 at 10:19 PM

    As more and more young individuals enter the employment, older professionals with more experience work alongside them in the workplace.

    ReplyDelete
  3. shayanika83December 10, 2022 at 4:40 AM

    The article contain vital information which can not abstract within short period of time .Well explained and recommend for students who is studying business management and HRM.

    ReplyDelete

Post a Comment

Popular posts from this blog

The Importance of Employee Benefits for a Business

Image
  figure1:employee benifits; source (doyle, 2022). The term "employee benefits" refers to any type of compensation other than wages or salaries that is supplied by the organization and paid for in part by the employer. Moreover, employee benefits are vital to the development of corporate industrial relations. Examples include retirement plans, child care, care for the elderly, programs for hospitalization, social security, vacation and paid holidays. According to Herberg's two-factor theory, an employee benefits package was a necessary and suitable working condition (motivation and hygiene). The hygiene factor will have an effect on employee job motivation and, consequently, productivity. Consequently, employee benefits are important if employee satisfaction and loyalty are to be maintained and improved (Ju, et al., 2008). The Four Most Valuable Employee Benefits Most benefits used to be classified as one of four main categories of employee benefits ·     ...
Read more

What is organizational culture and what is its significance?

Image
  figure1:organizational culture;source (Compliance Prime Team, 2019). Culture comprises a people's customs, history, literature, and philosophy. Everything in a company is shaped by its culture. The operations of your business are characterized by formal and informal attitudes and behaviors. The workplace is made legal. A company's culture is shaped by its aims and aspirations, as well as its leadership and employee expectations, performance management, and employee participation (Wong, 2020). The company's culture influences its ability to provide consistency and direction, to lead decisions and actions, to motivate employees and to assist them in reaching their full potential.   Qualities of great organizational culture Every organization has its own unique culture, and it's vital to preserve the characteristics that give the company its identity (Wong, 2020). On the other hand, the cultures of firms that consistently achieve high levels of performance reflect some c...
Read more