How to get the most out of 5 different generations of workers.
We live in a time where the workforce is a very diverse generational mix that is estimated to be approximately 35% millennials, 35% generation X, 24% generation Z, and 6% boomers, all of these people have been born and have lived historical, cultural and different policies, so each individual has very different opinions about work ethics, vision, and goals, making it a real challenge for business owners to know what talent they need for successful employee management and retention.
To be clear, this is generational diversity:
- Baby boomers: born between 1946 and 1964.
- Generation X: born between 1965 and 1980.
- Millennials or Gen Y: born between 1981 and 1996.
- Generation Z: born in the mid-1990s to the mid-2000s.
Having a multigenerational work team can be very beneficial for the company or organization. Each generation has its very pronounced strengths and weaknesses, and this can be of benefit if they are studied and used properly. For example, Baby boomers are used to not relying on today's technology. Generation Z, on the other hand, has lived in the digital pool from the beginning, but they are the generation that has experienced the most economic crises in their lives, so they are very aware of the importance of financial health and how they should be maintained and prepared for changes, evaluating different scenarios and looking for solutions that are more practical for the team.
The difference between the generations can be seen more clearly by separating them into problem-solving categories at work:
Communication Style: While millennials and gen Z have a more collaborative and teamwork style of interaction, baby boomers are generally more reserved in their communication style. Therefore, newer generations are better at coaching management style, while older generations will function better with a more traditional approach.
Adapt to change: all people adapt or accept changes differently, but it has been proven that generation X and millennials know how to accept job changes more positively, seeing these as new opportunities. On the other hand, generation X accepts changes as norms to be followed in the workplace, without further ado.
Technical skills: boomers and gen Xers prefer to learn the old-fashioned way, through traditional instructor-led courses; while new generations find these systems outdated and take more advantage of technology-based self-study and online workshops.