managing the multigenerational workforce

MANAGING THE MULTIGENERATIONAL WORKFORCE

Multigenerational workplace creates challenges and opportunities for employers…

Greatest challenge is for managers.

How do we effectively manage 5 generations with with different attitudes and expectations?

Agenda

• Overview of the multigenerational workplace (5G), exploring each generation and the events that shape their workplace attitudes and expectations

• Examine challenges that Companies face in developing these 5G workers

• Discuss benefits and tips to help managers become comfortable managing this diverse workforce

5 Generations in Today’s Workplace

• Traditionalists

• Baby Boomers

• Generation X

• Millennials (Generation Y)

• Generation Z

Traditionalists

• Born 1928 – 1945

• 4% still in the workplace

• World War II was the influential event of their childhood

• View work as a privilege

Baby Boomers

• Born 1946 – 1964

• Projected that 10,000 will reach retirement age each day through 2020

• Formative events during their childhood were the moon landing, civil rights movement, Kennedy assassination, Vietnam War, Woodstock, Women’s Lib

• Strong work ethic, motivated by rank, wealth and prestige

Generation X

• Born 1965 – 1979

• Events of childhood include the energy crisis, Watergate, Three Mile Island, the AIDS epidemic, Chernobyl, fall of Berlin Wall

• First “latchkey” generation as divorce rates skyrocketed and mothers entered the work force

• Results oriented (they entered the workforce during the recession) and desire flexibility in how work gets done

Millennials (Generation Y)

• Born 1980 – 1995

• 80 Million strong

• Comprise 36% of the current workforce, will comprise 46% by 2020

• Most defined by the Internet

• Other life defining events Oklahoma City bombing, Columbine shootings, 9/11, Enron, Hurricane Katrina

• Goal and achievement oriented, value social and corporate responsibility

Generation Z

• Born starting 1996

• Oldest of this generation is just entering the workforce

• Experienced the “Great Recession” and witnessed the long term unemployment of parents and relatives

• Highest level of technology and connectivity, which affects their preferences and work styles

• Having an impact on the world may be more important than their jobs

How Do We Effectively Manage All of These Generations?

• Communicate appropriately, gearing messages for generational preferences

• Create programs that encourage generations to work together and to share knowledge

• Build diverse teams of all ages, genders and cultures to create trust and value among your teams.

• Foster a respectful environment.

• Reward good behavior.