The Power of the Multigenerational Workforce | Vijay Pal Singh | VP-HR & Admin | DEE Development Engineers

As India today strives to accomplish various developmental targets and become a developed nation by 2047, it requires a workforce that exhibits exceptional qualities, including a high level of experience in handling complex issues, passion for problem solving, skills to innovate and implement, and unwavering energy to pursue the goals. Fortunately, India’s demographic dividend, which is the greatest asset, offers an opportunity to prepare such a workforce for every industry or organisation that can accelerate growth and facilitate goals.

Currently, we have five generations- Silent Generation (1922-1945), Baby Boomers (1946-1964), Gen X (1965-1980), Gen Y/Millennials (1981-1996), and Gen Z (1997-2012)- who contribute to organisational and broader economic goals.

These generations, each with unique skills and capabilities, are working together for the first time in history. It’s expected that by the 2030s, Gen Alpha (2013-2025) will also join the workforce, powering many other future goals. This unique multigenerational workforce offers myriad advantages that can catapult business operations while satisfying consumers’ evolving needs and requirements.

What are the advantages
A rich blend of generational diversity in the workforce can contribute to business success with their unique strengths. The vast experiences and accumulated wisdom are the most significant advantage of a multigenerational workforce. Older employees are the major source of industry-specific knowledge. Their experiences in overcoming challenges enlighten and guide the younger generation to understand the business, anticipate future challenges, and prepare the best possible solution in advance.

They play a critical role in creating an environment that promotes collaboration across diverse age groups, resulting in better outcomes. Moreover, their personality traits, developed over the years, such as perseverance and leadership skills teach the younger generation how to handle an odd situation. Certainly, this invaluable resource can be leveraged to make informed decisions and prepare future leaders.

Furthermore, a multigenerational workforce significantly enhances the problem-solving capabilities of an organisation. Different viewpoints and perspectives provide an opportunity to discuss a problem thoroughly. They see an issue from different lenses and dive deeper with their research to understand the root cause, which ultimately results in an effective solution. Younger generations, such as Millennials and Gen Z, who are known for their fresh perspectives, believe in and rely on innovation and quick tech adoption, which contributes to creating customised solutions. This improves consumer experiences tremendously and spurs business growth.

In addition, their inclination towards innovation and emerging technologies helps the workforce redefine their strategies and approaches. This is critical to match the transformation underway in the business world and enhance operational efficiencies. Their ability to adapt to new changes and older employees’ knowledge facilitates tech adoption and implementation across departments, resulting in smooth operations.

Teamwork enhances consumer engagement, which is vital for business success. A diverse workforce, which is also a diverse consumer group, better understands consumers, their pain points, and their needs, leading to more resonant strategies, products, and solutions. Most importantly, a multigenerational workforce increases employee retention. The older generation gets talented young individuals to execute their business strategies, while the younger generation receives invaluable mentorship that supports their career progress.

Challenges to overcome
However, a diverse workforce also encounters its unique challenges. For instance, age differences sometimes lead to a communication gap. The preferred mode of communication of different groups, such as email, instant messaging, or phone calls, also decides how seamlessly teams will communicate. The team must select the best way to communicate and avoid interruptions.

Furthermore, sometimes, preconceived notions also affect collaboration. Older generations may assume that younger ones are oversensitive. Similarly, younger generations may assume that older ones are too rigid to deal with. As a result, a negative work culture can take shape. Varying employee expectations also create hindrances to the path of effective collaboration. How different generations view their work and duties, career growth, work-life balances, and performance evaluation varies greatly. This can create differences if not managed well.

How to leverage the true potential of a multigenerational workforce Here, the role of HR becomes critical. The responsibility of leveraging the true potential of a multigenerational workforce depends on HRs and on how much they know about these generations, their working style, and their expectations.

Firstly, they must prioritise inclusive hiring by eliminating age bias. Right from the advertisement for a position to final selection, candidates must be evaluated on the basis of their education and experiences, not age. Policies must cater to specific needs of generations and be made attractive to all. This will ensure the hiring of an experienced older generation and an enthusiastic younger generation.

Secondly, they must focus on creating a conducive work environment for all. A culture of collaboration and support will be immensely effective in producing desired outcomes. Furthermore, a career advancement path will be there to appeal to job seekers. Thirdly, it’s critical to create mixed-age teams, having members belonging to different generations. This will ensure better communication and enable the members to develop an understanding about different generations. Finally, team-building exercises, office events, and celebrations can develop better relationships among employees of all generations.

Conclusion
A multigenerational workforce is the best way to enhance competitiveness and preparedness to tackle emerging business challenges and achieve targets. Valuing this workforce will help tap into the diverse skills, knowledge, and perspectives and unlock a valuable talent pool. This will encourage innovation, facilitate the creation of unique solutions, improve employee satisfaction, and increase financial results. A more inclusive and successful future of work depends on how organisations build and harness a multigenerational workforce.