The Multigenerational Workforce: Opportunity for Competitive Success
A summary of the First Quarter 2009 edition of SHRM Research Quarterly on The Multigenerational Workforce: Opportunity for Competitive Success.
For the first time in US history, four generations are working in the workplace at the same time. With birthdates covering a general span of over eighty years, our workplaces are populated with workers who are classified as Traditionalists, Baby Boomers, Gen Xers, and Millennials with each generational group defined by its shared historical and cultural events, collective memories, expectations and values.
While the article cautions against stereotyping people from different generations, it covers key aspects of the US multigenerational workforce and asserts that leaders can create a competitive advantage by “capitalizing on the strengths and values of different generations.”
Be sure to read this report for practical suggestions and data as they relate to the generational groups: workforce demographics; leadership style preference; differences in ethics; attraction, employee engagement, retention strategies, and more!
As the SHRM Research Quarterly notes, “Demographic and social trends will have a significant impact on the workforce in the coming years. Thus, in today’s struggling global economy, it is more important than ever that organizations leverage the knowledge, skills and abilities of all workers –from all generations.”
By Cindy J. Lau-Evans, Diversity Director, Greater Miami chapter of the Society for Human Resource Management.