Benefits Of Multigenerational Workforce

A Multigenerational Workforce is a great asset for a company, provided that it is handled with care. With a difference of generations, work ethics, technique, communication, and expectations can vary. When a company implements strategies that address these differences and make the best of them, it drives its enterprise a step ahead on its journey to success.

In this article, we will discuss the meaning and benefits of a multigenerational workforce.

What is a Multigenerational Workforce?

As the name clearly indicates, a multigenerational workforce is a workforce that comprises individuals who belong to a different generation.

With the ever-evolving world, the work culture is also evolving, and on one hand, there are many young people stepping up to join the industry, on the other hand, there are people who are working past the standard retirement age.

This diversity in the contemporary workforce is bringing together different generations to collaborate and exchange ideas.

You may also like to read : What is Workforce Diversity?

Each generation comes under a distinct group and has a different name. These groups are –

• Born between 1928 – 1945: Silent Generation
• Born between 1946 – 1964: Baby Boomers
• Born between 1965 – 1980: Generation X
• Born between 1981 – 1996: Generation Y/ Millennials
• Born between 1997 – 2012: Generation Z

Benefits of a Multigenerational Workforce

Every generation’s work ethics are different. While young employees are more inclined to engage with technology, mature employees are focused on gaining in-depth knowledge before making a decision.

When both these generations come together, they complement each other and create a fresh and innovative workspace that has better work potential.

Some of the prominent benefits of a Multigenerational Workforce are-

Diverse viewpoints

As we discussed earlier, employees with different generational backgrounds have different viewpoints and approaches to their work. When these viewpoints come together, they form a broad spectrum of knowledge and experience. This spectrum fuels creativity and boosts the enterprise’s productivity.

Better Problem-solving aptitude 

With an amalgam of different perspectives, a multigenerational workspace has more potential to come up with solutions. They have different life experiences and different ways of addressing a problem. Therefore, a company can expect better and more diverse solutions for their problems.

You may also like to read: Role of Technology in Workforce Management.

Knowledge Sharing 

With diversity and experience, there comes a lot of knowledge and skill. In a diverse workspace, people get to exchange their ideas and information with others. This creates a rich learning atmosphere where people can mutually benefit and enhance their aptitude.

On one hand, the experienced generation can guide the young employees about career development, on the other hand, the young employees can help the mature ones by helping them understand technology and trends.

Management practices for leading a multigenerational workforce

In order to lead a healthy multigenerational workforce, it is important to come up with effective strategies.

Some of the Management Practices that can help you lead a Multigenerational Workforce are

Enhance your EVP

You must build an EVP that suits your multigenerational workforce and appeals to all your employees. This will help you provide a satisfying employee experience and will motivate your employees to give their best to the company.

Policies like paid leave, wellness programs, and mental health awareness cater to the needs of all generations and make them feel valued. Professional development, skill enhancement, financial guidance, and community events are some more ways that can add to the appeal of your workspace.

Gather feedback and suggestions 

It is important to give a voice to your employees. Especially with a diverse workforce, it is common for people to encounter problems. The lack of communication or a feeling of hesitation might stop them from raising their concern or giving suggestions.

Therefore practices like employee pulse surveys become important. Once you formulate creative ways of gathering feedback and suggestions, you can work towards creating a promising workspace and organize your multigenerational workforce competently.

Establish learning opportunities

Upskilling and reskilling are not just limited to external training. With a diverse workforce, employers must promote knowledge-sharing exercises that can help all generations in enhancing their skills. Peer mentoring is a great practice that can be inculcated in the HR mechanism.

You may also like to read: Ways to Make Your Workforce more Adaptable.

Learning opportunities must not be limited to a certain generation and everyone should have equal chances to enrich their abilities. Better knowledge building invites efficiency and stimulates the profitability of a company.

Eliminate stereotypes

Stereotypes about certain generations are a common practice that goes overlooked in the name of fun. However, employers must ensure that this practice is not prevalent in their office as it limits the understanding and expectations of the employees.

They should promote interactive sessions for their employees to break the ice and get to know each other. Differences must be acknowledged and understood in order to celebrate uniqueness and view it as a strength to the workforce.

Promote an inclusive work environment

Managers should work towards the creation of inclusive work environments. This inclusion must not only focus on gender and race but also age diversity. The work culture, practices, and decorum must be created in ways that are suitable for all generations working in the enterprise. This promotes comfort, positivity, and mutual respect between the employees.

Conclusion

Managing a multigenerational workforce is a challenge in itself. But once you overcome this challenge, you are rewarded with a highly functional and productive work environment.

Transparent communication and inclusivity are the core values of a generationally diverse office structure as they build a better understanding and ensure that everyone feels respected and appreciated. It is a great advantage for business sustainability and a splendid way of enhancing the productivity of an enterprise.