A multigenerational workforce is a strategic advantage

Companies have to devise programmes that help them meet the unique needs and expectations of employees from each generation

Generational diversity in India is complex because of socio-economic variables like ‘first generation entrant to the workforce’, ‘rural/urban schooling’, ‘earning member status in the family’ and ‘parental occupation’. They seem to impact the business environment in their various combinations and permutations. It broadly appears that there are three generations from a socio-economic categorisation perspective — the silver spoon generation, the rooted-in-the-past generation and the “Gemini twins” generation with conflicting values. Though co-existence of multi generations in organisations is not a new occurrence, the modern iteration of the multigenerational workforce is caused by revised recruitment strategies of retaining or hiring retirees back into the workforce with more young people joining the job market more than ever before. Human relations becomes complex in this regard with special management required to handle all the three generations in the context of a business environment. Undoubtedly, a workforce that communicates with the elegance of baby boomers, possesses the thoughtfulness of Gen-Xers and exhibits the speed of millennials would be a blessing for any organisation. But this is something that does not exist. Yet, there are many advantages of having a multigenerational workforce at your disposal.

The varying skillsets, working styles and levels of experience can all coalesce provided the right environment making for a company that is vibrant and efficient, is present. So, the task is to get these groups and these personalities to work together in a manner that is advantageous to the organisation.

An age-neutral workforce is adept at retaining knowledge across generations preventing brain drain and keeping an organisation more competitive.

A multi-generational workforce also brings in more flexibility. Different skills and different levels of experience and interaction styles all provide a company with options with which to pursue its goals. A company also makes better decisions when they have received broad-based inputs from multiple generational perspectives. On the whole, companies are documented to become more creative and innovative with age-neutral workforces. Before a company can realise the benefits of a multi-generational workforce, it needs to understand each generation at a broader level. Organisations are not new to the idea of harnessing business values by developing and leveraging a diverse and inclusive workforce. How to go about it is where the challenge lies. Identifying strengths in each generation and using them to the best advantage is the key. An age-neutral workplace supports real communication and understanding across all ages, and builds on the unique values and strengths of each generation. Multigenerational workforces and workplaces create unique challenges and opportunities for employers who leverage each generation’s talents and strengths to benefit their organisation’s bottom lines.

HR and talent management professionals should keep one concept in mind while creating a plan to manage an organisation’s multigenerational workforce, honour each generation’s unique contributions while focusing on their similarities. It is important to communicate appropriately by gearing messages for generational preferences. For instance, if Generation X wants information delivered informally and effectively, millennials, on the other hand want opportunities to provide feedback and to receive positive reinforcement. It is also important to create programmes that encourage generations to work together and share knowledge. Baby Boomers, for example, are used to a more “siloed” knowledge sharing experience. Generations X and Y, however, want information shared freely and transparently across the organisation. Generations should be encouraged to work together and let Baby Boomers know that it is not just okay to share their knowledge but that it is vital to staunch knowledge loss when they eventually leave the workplace.

Source | The Hindu | 27 July 2016

Regards

Pralhad Jadhav

Senior Manager @ Library

Khaitan & Co

Blog | http://pralhad-fyilibrarian.blogspot.in/

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