Topic > Managing a Multigenerational Workforce - 2006

The United States economy has seen ups and downs over the years. These changes affect everyone in one way or another. The U.S. workforce is not exempt from feeling the effects of the economy. Many people across the nation have reevaluated their career and personal goals due to financial hardship. One major developing trend is that individuals start their careers earlier and finish them later. The good old days of retiring at sixty-five are being replaced by worries about health care costs and retirement plans, with no retirement date in sight. Many parents are unable to afford the cost of their college-age children, so the workforce has also seen an increase in the number of young adults entering the workforce. Nationwide, organizations are seeing, for the first time ever, four different generations working side by side. These generations have been labeled the veteran or traditionalist group (born before 1945), baby boomers (born between 1946 and 1964), Generation X (born between 1965 and 1980), and Generation Y (born after 1980). As a manager it can be quite challenging to manage four different generations of workers. All four generations have different strengths and weaknesses, so it takes a great manager to unite them all into one productive team. To be an effective manager of such diverse groups, you need to understand and appreciate the qualities each generation offers. This review analyzes current available research describing the differences between each generation, how to motivate each generation, and how to effectively unite the generations into one cohesive group. DIFFERENCES BETWEEN GENERATIONS Currently, in the United States, there are over 1 million workers who are 75 and older age or...... half of the document ......orce before it is a fact that managers will sooner or later encounter a multigenerational workforce. Organizations must prepare management to be able to manage such diverse populations. It was somewhat surprising to review the literature and find that almost all researchers agree that different generations of employees have different needs and are motivated differently. It is important to note that although researchers agree on generational generalizations, they are only generalizations. A manager needs to be aware of generalizations about each generation to help them understand, but be careful not to let it become a stereotype and influence how they approach that employee. The main point is that every employee brings something valuable to the workplace and managers need to be aware of how to use those strengths to the benefit of the organization..