Embracing the Aging Workforce During an HR Polycrisis

We are living in an era where workplace dynamics are changing daily. With these shifts, the aging workforce presents as both a challenge and an opportunity. It can feel like a juggling act between employees who have decades of experience, knowledge, and loyalty and the younger generations with new ideas and different perspectives.

Understanding the Aging Workforce

For the first time in history, five different generations are co-existing in the workplace! That is a lot of diverse perspectives and opinions.

- Builders: Born 1929 to 1945- The silent generation, known for their discipline, respect for authority, and strong work ethic.

- Baby Boomers: Born 1946 to 1964- The generation that brought us the 9-to-5 workday and thrived on structure, loyalty, and experience.

- Gen X: Born 1965 to 1982- Independent, resourceful, and tech-savvy, they're the bridge between old-school and modern work styles.

- Millennials: Born 1983 to 2000- The digital natives who value work-life balance, flexibility, and meaningful work.

- Gen Z: Born 2001 to 2020- The newest generation, highly connected, socially conscious, and eager to make a difference in the world.

Each of these generations has its own set of values, work styles, and expectations which can lead to both collaboration and friction in the workplace.

A survey from the Transamerica Center for Retirement Studies found that almost half of Baby Boomer workers expect to or already are working past age 70 or do not plan to retire.

Understanding these differences is key to managing them effectively, especially during a polycrisis where Human Resources teams are already stretched thin.

How Generational Differences Impact the HR Polycrisis

Traditionalists and Baby Boomers:

These generations bring experience and a strong work ethic, but they may need help to keep up with changing technologies and be flexible.

Gen X:

Known for their adaptability, they may also feel overlooked due to being managed by the Boomers and managing the Millennials.

Millennials:

They crave purpose and flexibility, which can clash with the more structured ideals of the older generations.

Gen Z:

With their digital-first mindset and social awareness, Gen Z can challenge traditional ways of thinking, which can cause friction with their older co-workers.

Culture: The Key to Navigating Generational Differences

The aging workforce isn't something to be feared or dismissed. It is often seen as an uncomfortable topic, as there are a lot of biases or insecurities regarding each generation.

Allow your company culture to drive how people feel in your organization, regardless of their generation or age.

So, how do we make this multigenerational workplace, work?

Listen to your employees! Allow them to deliver their input and feedback. Try utilizing engagement surveys where they feel comfortable giving their honest opinions. People want to feel like their voice is heard and they are in the loop of what's going on...

Even things as simple as what snacks they want are stocked in the break room!

Offer flexible work arrangements! Flexibility resonates with ALL generations. Whether it's part-time positions, remote work, phased retirement options, or student loan paybacks. Flexibility will retain valuable employees while also meeting their evolving needs.

Enhance health and wellness programs! Consider offering wellness programs focused on managing chronic conditions, providing mental health support, or even offering gym membership discounts. Invest in your employees so they can invest in themselves.

Prioritize continuous learning! Encourage a culture of lifelong learning. Whether it's upskilling older employees on new tech or providing leadership training for younger workers.

Most importantly, Create shared values! Each generation has its own quirks, but they also share common values like the desire for respect, recognition, and meaningful work. Focus on these shared values to create a cohesive, inclusive workplace culture.

Creating Your Future

75% of Gen Zs and Millennials say that an organization's community engagement and societal impact are important factors when considering a potential employer.

In a recent survey done by Forbes Advisor, the participants said the value of a job is often tied to the benefits offered. An overwhelming 79% of respondents prioritize flexible work options, with 64% highlighting the need for flexible parental leave and 62% emphasizing access to mental health resources.

Managing a multigenerational workforce during an human resource polycrisis isn't without its challenges, but it's also an incredible opportunity! Work to understand the unique strengths and needs of each generation. Embrace the diversity of thought and experience and you'll find that your workplace becomes stronger, more innovative, and better equipped to handle whatever the future holds.