the multigenerational workforce

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The Multigenerational Workforce Julianna Hynes, PhD

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A presentation on working with multigenerational leaders.

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Page 1: The Multigenerational Workforce

The Multigenerational WorkforceJulianna Hynes, PhD

Page 2: The Multigenerational Workforce

Four Generations• The Silent Generation

▫ Born before 1946▫ 8% of workforce

• Baby Boomers▫ Born between 1946 – 1964 ▫ 41% of workforce

• Generation X▫ Born between 1965 – 1977 ▫ 30% of workforce

• Generation Y▫ Born between 1978 – 1989 (some have the generation

stopping at 2000)▫ 21% of workforce

Page 3: The Multigenerational Workforce

Big Picture•Together Gen X and Gen Y now make up

50.5% of workforce•Baby Boomers make up 41% and still hold

the majority of leadership positions•Because of the current economic

downturn, most boomers will forgo/have forgone retirement and opt to continue to remain in the workforce.

•The silent generation, those with the most experience and institutional knowledge have already left the workforce en mass.

Page 4: The Multigenerational Workforce

An Older Workforce

•Today’s workforce is growing older.•Currently there are 5 million workers

aged 54 and over.•There are 2.7 million workers between

the ages of 65 and 69. •Gen X is a smaller generation in number,

providing a shrinking pool of prime-age workers.

Page 5: The Multigenerational Workforce

Supply and Demand•Currently 2 workers exit the workforce

for every 1 entering. •While demand for leaders will increase,

the supply will decrease (an estimated 10%).

•The number of workers aged 45 to 54 will grow by about 21%.

•The number of workers aged 55 to 64 will grow by 52%.

Page 6: The Multigenerational Workforce

Leadership Deficit?

•As the supply decreases due to the smaller pool of workers, the supply is also threatened by▫A shift away from traditional career paths

(especially amongst women and people of color – corporate leavers)

▫A shift away from traditional work values (e.g. loyalty and work ethic).

Page 7: The Multigenerational Workforce

Overview

•Members of each generation bring distinct sets of values, attitudes, expectations and behaviors to the workplace.

•If differences are ignored, they can grow into a source of misunderstanding and conflict.

Page 8: The Multigenerational Workforce

The Silent Generation•Born 1925-1945 (mid-60’s to mid-80’s)•95% retired•Slow to embrace anything new, distrusts

change and would prefer the status quo•Work ethic is built on commitment,

conformity and responsibility•Many are reconsidering how and if they

will integrate work with their personal time

•Lifestyle…

Page 9: The Multigenerational Workforce

Baby Boomers

•Born 1946-1964 (late 40’s to mid-60’s)•The “Me” generation; selfish, but

optimistic and idealistic•Struggles with work-life balance•Overachieving•Believes the world can be changed•Lifestyle…

Page 10: The Multigenerational Workforce

Generation X•Born 1965 – 1977 (mid-30’s to mid 40’s)•Best educated generation in the US (40%

have earned a college degree or higher)•Embrace risk and prefer free agency to

loyal corporatism•Sometimes criticized as “slackers,” yet

are widely credited with a new growth of entrepreneurship.

•Jump from job to job, unwilling to conform to organizational demands that do not suit them, and leave jobs that bore them and are not “fun.”

Page 11: The Multigenerational Workforce

Generation Y/Millenials•1978 – 1989 (ages mid-20’s to early 30’s)•Raised in comfort with the internet•Work on their own terms•Want to be “paid volunteers” joining an

organization not because they have to, but because they really want to, and because something significant is happening there.

•Pragmatic and hard-working.•Celebrate diversity – display a high

degree of tolerance towards different cultures, lifestyles and behaviors.

Page 12: The Multigenerational Workforce

• Source: Bersin & Associates, n.d. (http://joshbersin.com/2007/10/01/a-new-organizational-learning-model-learning-on-demand/)

Page 13: The Multigenerational Workforce

• Source: Right Management, 2012 (http://www.envoynews.com/philadelphia/e_article000780503.cfm?x=bb1dWMB,b3S4Ssdy,w)

Page 14: The Multigenerational Workforce

The Retention Challenge•Silent – keep them plugged in

(mentorship)•Baby Boomers – keep them on board for

as long as you can (work-life balance)•Gen Xers – start developing them into

leaders for tomorrow, today (leadership development)

•Gen Yers – train and nurture them (training and development)

Page 15: The Multigenerational Workforce

References/Resources• LHH Whitepaper: Managing Today’s Multi-Generational

Workforce, 2007. ▫ Located on Sydney: Learning and Development: Coaching

Conversations: Additional Insights https://www.mwcareertools.com/MasteryWorksCMS/filestore/lhh/LHH_wp_multigenAA2.pdf

• AARP Whitepaper: Leading A Multi-Generational Workforce, 2007. ▫ http://abog.ucsf.edu/ABOG/13133-DSY/version/default/part/

AttachmentData/data/AARP%20Report%20Leading%20Multigenerational%20Wkforce.pdf

• IBM Center for the Business of Government Whitepaper: Engaging the Multi-Generational Workforce, 2011. ▫ http://www.businessofgovernment.org/sites/default/files/

Engaging%20a%20Multi-Generational%20Workforce.pdf