With more than one in three American workers today categorized as Millennials, 2015 marks the first year Generation X has been surpassed as the largest generation in the U.S. labor force. The Millennial workforce is now 53.5 million strong and growing, according to a recent Pew Research Center analysis of U.S. Census Bureau data. For Generation X, their ranking as the dominant generation within the workforce was short-lived at just three years, but even the slightest generational shift in today’s business environment can prove challenging for employers. It can also be an opportunity.
To fuel company growth, employers rely on efficient workflow, which is the result of harmonious collaboration across the multigenerational workforce. To build this dynamic and competent workforce, employers must unify Baby Boomers, Gen Xers, Millennials and Gen Zers by creating an adaptable office environment. Employers can do this by identifying and leveraging each generation’s nuances, skills and strengths to benefit their organization’s bottom lines.
Today’s workforce is decidedly multigenerational. It is made up of distinctly different generations that each bring with them life experiences that have directly affected their attitudes, expectations, values and work preferences. This demographic shift at work has many employers grappling with generational differences they do not have experience managing. “A Guide to Leading the Multigenerational Workforce” was created to help navigate this new terrain.
The guide—presented by MBA@UNC and based on a white paper from UNC Kenan-Flagler Business School Executive Development —provides actionable steps employers can take to cultivate a workplace environment where all generations can thrive in a synergetic office culture. The guide outlines why the generational gap exists, the characteristics of each generation in the workforce, how to rethink the gap, a roadmap for success, and ways to recruit and retain employees at every level. Use this guide to successfully adapt to the ever-changing multigenerational workplace.