5 Generations in the Workforce – Benefits of Intergenerational Relationships

In my previous blog, I highlighted the fact that we now have 5 distinct generations in the workforce. This article explores the benefits of multi-generational workforces and how encouraging collaboration can reap rewards.

There is a global shortage of talent and the challenge of having the best talent, retaining the best talent, ensuring strong collective capability within the business and building an amazing culture will become ever more important. The amazing culture will need to work for all five generations and leaders have to create a work environment where all can thrive.

Each generation is a group of people born around the same time and raised around similar experiences. Generation-shaping trends are most influential as people come of age, which means that members of a particular generation will develop and share similar values, beliefs, and expectations.

Companies need to continue to attract employees with the right skill-set and culture fit as it will be of vital importance across all five generations, reflecting the different, yet complementary, competencies each group offers.

What are the benefits of intergenerational relationships?

The benefits of intergenerational relationships are numerous. In fact, social psychologist Eric Erikson has stated that the advantages are plentiful for both older and younger generations.

The master once knew everything and the apprentice nothing. This was perhaps never really the case, but nowadays things are viewed and embraced differently.

The younger generations can learn valuable leadership and life lessons from older generations. Sharing the learning from setbacks and triumphs is mutually beneficial. The older team members can learn from the younger employees too. As digital natives and avid social media fans, they can help experienced mature workers to get to grips with digital tools.

What more can older workers teach younger workers?

Tough Times - Younger workers didn’t go through the recession of the 1980s, therefore they can pass along wisdom about economic cycles and provide a long-range view of things.

Loyalty - It may not be fashionable today, however, remaining with one employer has its own rewards. Older workers know what it means to commit through thick and thin, and older workers know that some companies do take care of the employees who stay and take care of the company.

Experience - Older workers are happy to pass along what they know about people, jobs and success, whether it’s corporate policies, company politics or industry knowledge.

So, what can younger workers teach older workers?

New Technology - This is the most obvious area. Many older workers are unfamiliar and uncomfortable with newer technologies like software and mobile devices that are often used in classrooms and businesses. Younger workers have grown up with these devices and can take the lead in acclimating older workers to them. And, like most people with a skill, they’re usually happy to pass on what they know.

Diversity - Younger workers come from diverse households and backgrounds. Their “wider perspectives” can help open older workers’ eyes to the changing world and workforce.

Risk Taking - Older generations are typically more loyal, but younger generations may take more risks that help them move forward and achieve their goals. As the world of work is changing, a new era demands innovation which is driven by fresh thinking.

The Ideal Workplace Culture

The culture that is ideal for companies to embrace, is one where there are learnings and understanding between each generation are actively encouraged. This approach will help to reduce and remove potential challenges, dispute resolution, frustration and resistance to change.

When effectively managed, diverse groups make everyone work harder to communicate their ideas and insights, often with superior results compared to groups where everyone is similar. When people of different age groups begin to see what others have to offer them, they begin to understand each other better and appreciate their differences, as well as what they have in common.

Members of different generational age groups do put each other down, but studying or working together helps everyone move beyond stereotypes and find out what members of another generation are really like. Each generation has a unique skill set to contribute to the world. The key is to value diversity and actively encourage collaboration through informed leadership.

Whatever your business looks like today, in 2020 it will most likely look very different. By understanding what are the values, what differentiates, what motivates, communication preferences and more for each generation, it is possible to prepare your organisation for success.

An open approach will also reap rewards externally, as these generations are also a reflection of your customers! Looking at people through a generational lens offers useful predictability for those trying to reach, inform, or persuade a large cross-section of a population.

As a reminder, we are not working with generations but with people and every generation brings something important and necessary. We must recognise that we are attracted to people similar to us – so it is important for us to have a willingness to embrace diversity. If you are seeking long term success, this issue is too big and too important to ignore!

If you are keen to learn how to recognise and understand the differences, work with the differences and leverage the differences in your multigeneration workforce I would love to hear from you.  Drawing on corporate expertise and expansive research, I have created a Multi-generational workshop to help leaders embrace these challenges and a format for teams and organisations to create a sensational place to work!