Benefits Of Multigenerational Workforce – Introduction

A Multigenerational Workforce is a great asset for a company provided that they handle it with care. With a difference of generations, a variation in the work ethics, technique, communication, and expectations can be witnessed. When a company manages to implement strategies that address these differences and make the best out of them, they drive their 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

The work ethics of every generation are different as compared to others. While the young employees are more inclined to get engaged with technology, the mature employees are focused on gaining in-depth knowledge before they make 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 have discussed earlier, with a difference in generational background, employees have a different viewpoint and approach towards their work. When these viewpoints come together, they form a broad spectrum of knowledge and experience. This spectrum fuels creativity and boosts the productivity of the enterprise.

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.

What is Workforce Diversity

Definition: Workforce diversity, in simple terms, refers to the inclusion of employees from heterogeneous backgrounds. This background can be anything concerning their age, sexual orientation, nationality or marital status.

Every industry works on the pillars of cooperation, respect and harmony. With the diverse set of professionals coming from varied backgrounds, cultures, ethnicity, race and gender, it becomes essential to build a workspace that includes and regards every individual equally.

Workforce Diversity is a very essential factor that enables individuals to make their mark on the base of their talent without being concerned about their cultural, sexual or religious background.

A challenge for HR Management

Workforce diversity is a very essential phenomenon that needs to be practiced in all enterprises across the world. But it is equally difficult for admins and Human Resource managers to coordinate and manage employees from varied backgrounds.

While addressing a group of employees sharing a common background, the HR manager can communicate and arrange sessions in a single language which can be understood by the entire group. They can use references and methods which would easily be comprehended by the set of employees and implemented in their work. But in case of employees coming from different backgrounds, it gets difficult for managers to figure out a common approach, references and language for the group.

You can also read : Ways to make your Workforce more Adaptable

Dimensions of Workforce Diversity

Workforce diversity encompasses two vital dimensions, i.e. the primary dimension and the secondary dimension.

Let us get an insight of the two dimensions :

Primary Dimensions

These consist of core factors that can not be changed in an individual. Age, race, gender, mental ability and ethnicity come under the primary dimensions. All these elements can not be divorced from an indoor and influence their thinking, behaviour and approach towards their work.

Secondary Dimensions

These comprise factors which have the scope of getting modified. Secondary dimensions include an individual’s health, habits, beliefs, experience, training, professional discourse, income layers and other similar factors.

Factors Increasing Workforce Diversity

There are numerous reasons why Workforce Diversity is emerging as a new trend globally.

Here are some of the most prominent factors fostering workforce diversity:

Expansion of the service sector

Services like banking, travelling and retailing require a lot of interaction with a diverse set of customers. These customers can be from different backgrounds with respect to their culture and orientation. It is a fact that people are more comfortable with purchasing products and availing services from people coming from a similar background. Therefore companies address and practice workforce diversity to enhance their business and marketing.

Market Globalization

Globalisation is a result of increasing consumerism. With the aim to satisfy their customers, many companies opt for building their local presence apart from their space of origin. This inculcates workforce diversity in their work and office setup.

The necessity of teamwork for profitable enactment of business strategies

Teamwork is the most important factor when it comes to the success and efficiency of an enterprise. In a workplace with employees coming from different backgrounds, it is essential to respect and manage workforce diversity.

The trend of mergers and alliances

Industries are practicing mergers and alliances for their projects. These mergers are amongst companies hailing from different backgrounds with employees coming from different cultures, orientations and beliefs from across the world. In such scenarios, workforce diversity becomes inevitable and needs to be managed and respected.

Constantly changing labour market

Similar to any other sector, the labour market is also undergoing constant changes. It is this change that is inculcating the factor of diversity in the workforce. The increase in educated and experienced individuals from different gender orientations and backgrounds is creating a more welcoming and widespread arena of opportunities in the corporate Industry. This, as a result, is fostering workforce diversity.

Constitution and laws by the Government

The Constitution of India made provisions to ensure that a certain number of positions are secured and dedicated to hiring scheduled castes, scheduled tribes, backward classes, physically challenged individuals and women. They took this step to ensure that every deserving candidate gets an opportunity through the reserved seats and workforce diversity can be put into practice.

You can also read : Role of Technology in Better Workforce Management

Benefits of Workforce Diversity

Managers find it difficult to sustain and manage diversity, but the most important thing that needs attention is the benefits that this practice brings to the table.

In a workplace where diversity is respected and celebrated, ideas are easily exchanged and put in action. It not only promotes a congenial work culture but also takes in different perspectives and approaches to a single product or problem. Inclusion of more women in the corporate industry is widening the perspective of companies. A similar result is obtained on hiring individuals from diverse backgrounds.

When diversity established on religion, race, caste, language, gender and orientation is recognised, addressed, managed and respected, it allows a wide arena of opportunities to flourish.

Consequences of Ignoring Workforce Diversity

Workforce diversity is a crucial component while building a safe and comfortable workspace.

Here are a few consequences of ignoring workforce diversity :

The amount of trust and mutual respect between people from different ethnic/ cultural or sexual backgrounds is decreased with the increase in corporate ignorance towards workforce diversity.
Human relations in an organisation suffers a tremendous backlash as a result of cultural clashes, conflicts and primary differences between the employees.

Conclusion

Workforce diversity plays a great role in promoting cooperation and respect amongst all individuals working in a team. It also creates a healthy work environment for everyone which in turn encourages employees to yield better work output and enhance the work structure of your company.

If you are looking for software that can assist you in keeping a track of all employees along with managing their diversity, Juntrax by Juntrax Solution will serve as the best choice. It helps in creating a transparent medium of coordination and communication along with its distinguished set of tools and features.

Crafted by Aditi Srivastava