HOW TO MANAGE YOUR MULTI-GENERATIONAL WORKFORCE?
3 TIPS FROM OUR LEADERS
There is a high chance that you will find members of the 'Silent Generation' and Baby Boomers working alongside the emerging Generation Z in the office (or in a virtual call). According to OECD data, there will be one older person for every two younger people by 2050.
According to the same study, an increase in older workers' participation in the workforce would 'significantly improve' global living standards.
Businesses also benefit from the program. Research indicates that organisations with a 10% higher proportion of older workers are 1.1% more productive. Additionally, a greater diversity of ages leads to more effective knowledge retention and a stronger talent pipeline, which improves continuity.
Is your workforce strategy leveraging the benefits of age diversity? Our latest blog explores the multigenerational workforce, offering three tips for leaders who are looking to leverage their people's skills.
Discover the advantages of age diversity in your workforce strategy through our latest blog post. Our team delves into the topic of multi-generational workforce and presents three valuable tips for leaders aiming to harness the skills and diverse experiences of their employees. Learn more about this relevant subject and enhance your workforce's potential.
According to the same study, an increase in older workers' participation in the workforce would 'significantly improve' global living standards.
Businesses also benefit from the program. Research indicates that organisations with a 10% higher proportion of older workers are 1.1% more productive. Additionally, a greater diversity of ages leads to more effective knowledge retention and a stronger talent pipeline, which improves continuity.
Is your workforce strategy leveraging the benefits of age diversity? Our latest blog explores the multigenerational workforce, offering three tips for leaders who are looking to leverage their people's skills.
Discover the advantages of age diversity in your workforce strategy through our latest blog post. Our team delves into the topic of multi-generational workforce and presents three valuable tips for leaders aiming to harness the skills and diverse experiences of their employees. Learn more about this relevant subject and enhance your workforce's potential.
WHAT IS A MULTI-GENRATIONAL WORKFORCE?
A multi-generational workforce is comprised of people from several generations. There are now five generations operating simultaneously, making today’s workforce the most diverse in age ever witnessed.
WHAT ARE THE BENEFITS OF A MULTI-GENERATIONAL WORKFORCE?
Organisations can reap substantial benefits from diverse teams, which encompass individuals with varying ages and life experiences. When knowledge and energy intersect, creativity and innovation often flourish.
Research shows that companies with mixed-age teams experience enhanced knowledge sharing, leading to better problem-solving and decision-making. However, intergenerational conflict is also on the rise, as workers resort to harmful stereotypes due to their inability to relate to others. Generational classifications are among the “most popular, enduring, and commonly accepted misconceptions in the workplace”.
To overcome such differences and bring people closer, here are our top three tips for leaders managing a multi-generational workforce:
Research shows that companies with mixed-age teams experience enhanced knowledge sharing, leading to better problem-solving and decision-making. However, intergenerational conflict is also on the rise, as workers resort to harmful stereotypes due to their inability to relate to others. Generational classifications are among the “most popular, enduring, and commonly accepted misconceptions in the workplace”.
To overcome such differences and bring people closer, here are our top three tips for leaders managing a multi-generational workforce:
1. Forget generational divides and focus on life stages.
Avoid preconceptions about different generations when managing a multi-generational workforce. Focus on creating a culture that supports a diverse range of personal and professional needs to accommodate the various life stages that workers may experience throughout their career.
Jon Mannall, EMEA Managing Director for Enterprise Solutions at Hays added: “There is enormous value in breaking down the stereotypes or biases that accompany rigid generational structures. When we shift from numbers to names, we put people back at the heart of every action and decision an organisation makes. “Naturally, this makes things more complex. The generational ‘buckets’ we have relied on for so long make it easy to assume needs and challenges, but the reality is they are no longer fit for purpose”.
The good news for employers is that there seems to be more that unites than divides us. A recent study by McKinsey found that employees ‘of all ages’ are looking for many of the same things at work – and largely quit their jobs, or start somewhere new, for similar reasons. Both ‘Gen Zers’ and ‘Boomers’, for example, cited lack of career development and advancement as a top reason for leaving their current position.
Jon Mannall, EMEA Managing Director for Enterprise Solutions at Hays added: “There is enormous value in breaking down the stereotypes or biases that accompany rigid generational structures. When we shift from numbers to names, we put people back at the heart of every action and decision an organisation makes. “Naturally, this makes things more complex. The generational ‘buckets’ we have relied on for so long make it easy to assume needs and challenges, but the reality is they are no longer fit for purpose”.
The good news for employers is that there seems to be more that unites than divides us. A recent study by McKinsey found that employees ‘of all ages’ are looking for many of the same things at work – and largely quit their jobs, or start somewhere new, for similar reasons. Both ‘Gen Zers’ and ‘Boomers’, for example, cited lack of career development and advancement as a top reason for leaving their current position.
2. Create a sense of psychological safety amongst teams
From different backgrounds and work on building trust by encouraging different perspectives, better communication, and celebrating achievements.
Diverse teams are repeatedly linked with enhanced innovation and improved performance. However, research has shown that heterogenous teams often underperform relative to their homogenous counterparts. This is because people with similar backgrounds share norms and assumptions about how to behave, how to set priorities and at what pace to do the work.
When team members come from different backgrounds, ‘these taken-for-granted habits frequently clash’. Here’s a few tips for building trust:
Diverse teams are repeatedly linked with enhanced innovation and improved performance. However, research has shown that heterogenous teams often underperform relative to their homogenous counterparts. This is because people with similar backgrounds share norms and assumptions about how to behave, how to set priorities and at what pace to do the work.
When team members come from different backgrounds, ‘these taken-for-granted habits frequently clash’. Here’s a few tips for building trust:
- Acknowledge and respect diverse perspectives: Today's workforces embrace previously stigmatized topics such as mental wellbeing and women's health. It is important to recognize that some workers are accustomed to discussing these topics, while others may find it challenging. Encourage your team to engage in open and respectful discussions, challenge their unconscious biases, and embrace diverse beliefs.
- Enhancing effective communication with incoming workers: This is a critical aspect of recruitment consultancy. Utilizing the onboarding experience to conduct a survey on the communication preferences and expectations of the new hires is recommended. This will enable a better understanding of how to communicate effectively with the team and create a conducive work environment. It is crucial to honour the decisions made by the team and maintain regular communication to ensure a successful working relationship.
- Recognise and celebrate team achievements: Celebrating success is crucial, and it is important to acknowledge the role that cross-functional collaborations play in achieving goals. Highlight the specific benefits of age diversity in your team. Share stories of how diverse life experiences helped to better understand customer challenges or how the newest team member's disruptive thinking enhanced tried-and-tested methods. Celebrate the 'big wins' achieved by your diverse teams.
3. Offer training across your workforce, at every stage
Amongst high-performing teams, knowledge flows in multiple directions. Leaders need to ensure they are creating opportunities for information to be shared across their workforce, including differing age dynamics.
Offer training opportunities to all employees, regardless of their age, to upskill and reskill in response to evolving technologies and talent shortages. Consider formalised learning and development programmes like the Hire-Train-Deploy model to attract and retain talent.
And let’s not forget that learning needs to happen across various lifecycle stages. As technology continues to evolve at breakneck speed and the shelf-life of many skills contracts significantly, workers are increasingly under pressure to reskill and upskill to tackle growing talent shortages.
Offer training opportunities to all employees, regardless of their age, to upskill and reskill in response to evolving technologies and talent shortages. Consider formalised learning and development programmes like the Hire-Train-Deploy model to attract and retain talent.
And let’s not forget that learning needs to happen across various lifecycle stages. As technology continues to evolve at breakneck speed and the shelf-life of many skills contracts significantly, workers are increasingly under pressure to reskill and upskill to tackle growing talent shortages.
The good news? Research suggests that age does not impact employees’ willingness to undergo training to reskill. How you approach and implement training opportunities, however, will impact appetite for learning. In response, a growing number of organisations are turning to more formalised learning and development programmes, including the ‘Hire-Train-Deploy' (HTD) model.
What is a HTD model?
HTD sees candidates recruited based on skills, rather than previous work experience. These individuals receive a salary to undergo a structured training and assessment programme, before joining an employer on a predetermined contract period.
Although Hire-Train-Deploy models have largely been associated with harnessing the potential of younger members of the workforce, the structure and stability provided could also prove attractive to individuals approaching the end of their career.
The ‘employer down’ rather than ‘education up’ model means that individuals are trained for a defined job function, offering a greater guarantee of employment at what could be considered a more vulnerable time in their career.
BRIDING THE GENERATIONAL DIVIDE
In today's global workforce, talent shortages persist and productivity declines, putting leaders under increasing pressure to maximize their teams' potential.
This requires a talent strategy that capitalizes on the diverse experiences of today's workforce. Nigel Kirkham, the CEO of Enterprise Solutions at Hays, notes that workers are now more interested in the projects they'll be working on and the knowledge they'll gain.
Therefore, organisations can't rely solely on their brand reputation, but must also showcase the value they can offer to potential talent. Is age diversity the key to gaining a competitive edge?
Contact the Enterprise Solutions team to explore how we can help you create a more compelling value proposition.
This requires a talent strategy that capitalizes on the diverse experiences of today's workforce. Nigel Kirkham, the CEO of Enterprise Solutions at Hays, notes that workers are now more interested in the projects they'll be working on and the knowledge they'll gain.
Therefore, organisations can't rely solely on their brand reputation, but must also showcase the value they can offer to potential talent. Is age diversity the key to gaining a competitive edge?
Contact the Enterprise Solutions team to explore how we can help you create a more compelling value proposition.