The corporate landscape has significantly changed over time, and a multi generational workforce has become essential for every company to thrive in the market. Baby Boomers, Generation X, Millennials, and Generation Z are five generations that are part of a generational workforce. They all have different values, motivations, work styles, and approaches. However, managing a multigenerational workforce can be difficult as more than one generation gathers under one umbrella. However, there are ways to master the art of balancing a multi generational workforce. Prior to jumping on those ways, we clearly need to understand the differences between multiple generations.
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Generation Differences
To master maintaining a multi-generational workforce, corporate leaders and HR Professionals must understand the generational differences and their needs. Below are the differences between the generations.
1. Baby Boomers (1946-1964)
Baby Boomers are the oldest generation in a multi-generational workforce. They like to stick with the same profession, but they can sometimes switch employers. People of this generation aim for individual performance and climb the organisational ladder with their motives. They are attracted to in-person work environments and prefer mail as the mode of communication.
2. Generation X (1965-1976)
Generation X is also known as the latchkey generation. They have seen the era of technical evolution and the arrival of video games and computers. Gen X members are more independent and can easily replace Baby Boomers in managerial positions in an organisation. They like flexibility in the workplace and embrace technology to boost productivity and communication.
3. Millennials (1977-1995)
Millennials, or Generation Y, are the first generation to grow up solely in the Internet era. This generation is the driving force in the present business scenario and the backbone of the multi generational workforce. A sense of purpose and desire to keep learning to drive them towards their work. This generation craves interactions, feedback and collaboration. Millennials prefer using electronic communication channels like texting, direct messages, and social media.
4. Generation Z (1996-2010)
Generation Z has recently entered the multi-generational workforce. They were born in the digital era and are dependent on mobile devices and gadgets; hence, they are called digital natives. Social responsibilities drive Generation Z, and they prefer communication technology that provides personal experiences like video conferencing.
How To Foster Generational Diversity In Workplaces?
1. Flexible Work Hours
Flexibility is the key to fostering generational diversity in a workplace. Baby Boomers like traditional 9-5 office settings, but Millennials and Gen Z members are attracted to work-from-home and flexible work-hours facilities. In the post-pandemic world, many companies are thriving and have incorporated flexible work policies.
2. Mentorship Programs
Mentorship programs will promote cross-generational learning and collaboration, filling the generational gaps in the multi generational workforce. This way, old employees can share their industry experience and knowledge, while young employees can offer fresh perspectives. It will ultimately prepare an unbeatable workforce, enabling a company to flourish.
3. Make Age-Diverse Teams
Prioritising age diversity in an organisation’s teams could help balance experience and innovation. When a recruiter knows this, the team mirrors the diversity a company wants to showcase. Customising company websites and social media profiles would represent people of all age groups.
4. Divers Communication Channels
All generations prefer a specific communication channel, which is one of the major multigenerational workforce challenges. For instance, millennials prefer texting and chatting, and Gen X likes emails. Hence, HR leaders should utilise a combination of multiple communication channels so that everybody can talk to their colleagues and feel valued within the multi-generational workforce.
5. Provide Diverse Perks To Employees
All employees are attracted to workplace perks. Hence, providing diverse perks will appeal to different generations and help you manage a multigenerational workforce. For instance, Gen Z members want financial planning benefits, millennials seek healthcare benefits, Gen X look for family leaves, and Baby Boomers like retirement plans.
A multi-generational workforce is the secret to every company’s growth in the current business scenario. However, managing a multigenerational workforce isn’t easy. As different generations work together, conflicts occur due to their different values, likes and dislikes. Mentorship, a diverse range of perks, and flexibility are some tips leaders can incorporate into their workplaces to withstand multigenerational workforce challenges.
