The five-generation workforce has to find a place for the non-retired traditionalists (born before 1946); the baby boomers; Gen X; Gen Y and Gen Z. Generally held to be those born after 2000, the first teenage representatives of Generation Z are 15 and beginning work experience, part time work or considering their options when it comes to university, internship or something else.
Meanwhile, some Generation Y-ers (also known as Millennials) are already in leadership roles. During 2015, Gen Y-ers will become the largest percentage of the workforce for the very first time. By 2025, they will make up about 70% of the entire workforce. Two research reports (Barclays and CISCO) set out the characteristics of Generation Y in the workplace including:
- As motivated and engaged as their bosses (64% say career and personal development are important to them)
- Place a high value on freedom and flexibility
- Attuned to an 'aways on' lifestyle
- Interested in employers' social brand
- Interested in learning from networking with peers
- Not interested in cumbersome, paper-based systems
- High regard for work-life balance
- Job-hopping if their needs aren’t met yet loyal to their organisations
Ideas for managing multi-gen workplaces
- Internal, inter-generational and reverse mentoring can have reciprocal benefits
- Survey the workforce/carry out talent assessments the understand demographics and conduct
- Provide change and stress management training
And for Gen Y in particular
- Give them control of their own training and personal development – they love autonomy
- Give them an attractive workplace – secure mobile strategy; automated workflows
- Give them special team/technology based projects to work on
Not simply a question of age
- Of course, these broad groupings are generalisations. Surely we can all be millennials in our hearts?! Take this Pew Research test to find out how millennial you are.
- Workplaces need to be prepared for a Gen Z workforce that has no concept of data security!
Additional sources: Forbes; Business Insider (Australia); Information Age; NaturalTalent.com; CISCO.