The Big Benefits of a Multigenerational Workforce
I frequently observe late Millennials and GenZ underestimating the value of Baby Boomers and early Millennials in society and in the workplace and conversely, I also observe Baby Boomers and early Millennials complaining about the lifestyle and communication techniques of late Millennials and GenZs.
I find it disheartening to witness these behaviours because they both communicate a level of arrogance and ignorance, overlooking the worth of others in society so allow me to share with you the benefits of a mutigenerational workforce.
Baby Boomers, born 1944 -1964 make up 29% of our workforce. They are the most experienced workers with insights into what has and has not worked in the past and they have learned to work with “everyone”. They can be great mentors and valuable leaders and managers. They are the most stable workers with no desire to job hop and they may not TikTok but they have adapted well to rapidly changing technology. They are engaged and stable.
GenX, born 1965 – 1980 make up 21% of our workforce. They are loyal which is partially driven by their mortgage and debt commitments including their children’s education, and their impending retirement. They will step into leadership roles vacated by Baby Boomers and will maintain business knowledge and facilitate continuity of productivity.
GenY/Millennials, born 1980 – 1995 make up 50% of our workforce. They are tech savvy and continuously connected making them our most social and informed generation. They value intelligence and results over traditional hierarchical ranking and are success-oriented with a strong sense of fairness and morality.
GenZs, born 1995 – 2015 are starting to enter the workforce whilst they study and as they work the “gig economy”. They are quick to respond to fast-moving conditions and they will be our brand safe keepers for the next 60+ years. They are the first generation to be raised in a completely digital world making them sponges of technology and information.
Embrace the multigenerational workforce in your business to build business resilience and watch your market share grow as your customers find your brand more relatable through your employee representation.