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You’ve read plenty about the challenges presented by the multi-generational workforce.
You get it. The generations are wired differently, they work differently and organizations have to adapt or they’ll go the way of the dinosaur. Improving productivity, reducing turnover, and building your talent supply chain across four diverse generations is imperative for organizational success as we stare down the barrel of a rapidly changing workplace and marketplace.
There are fundamental reasons why organizations, not just HR departments and HR leaders, must respond to generational issues—and quickly. The fact is, although there is a deluge of anecdotal evidence suggesting that the different generations’ mindsets and approaches to work are worlds apart, we now know that the modern workplace is occupied by a constituency that—across the age spectrum:
- demands flexible conditions and work-life balance,
- thrives on collaboration and entrepreneurialism, and
- at once craves knowledge and is qualified to impart it.
Today’s workforce needs to believe in its employer and perceive meaning in its work, too.
Where once we may have been daunted by the prospect of the much-maligned and little-understood Gen Y, or the Millennial generation, representing 44 percent of the US workforce by 2020, our research indicates that this demographic brings a fresh approach to the workplace. In combination with the experience and knowledge of the generations before them, this could be the exact solution business needs.The simple truth? If leaders can adapt their mindsets and processes to embrace genuine integration of the learning and leadership styles of Baby Boomers, Gen Xs and Gen Ys, they will bolster their success—and resilience—in the changing world of work.