When it comes to a multi-generational workforce, it is not necessarily millennials vs. boomers, it is all generations coming together to bring fresh new perspectives and ideas. With each generation, comes an expansion of various talents, still, many employers have not placed a significant focus on taking advantage of this.
So, what are the benefits?
- Multiple perspectives can bring a broad range of knowledge and abilities which will ensure the right, but the equal balance for businesses.
- Creative solutions to problems will be more visible, you will receive more ideas on how to address challenges and conflicts.
- Learning and mentoring opportunities will ensure that those with more years of experience can assist junior-level colleagues on career development. This can also be applied with junior employees to educate mature workers with current trends and technology.
- An increase in better relationships between co-workers. Various age differences often mirror family structure and therefore offer opportunities for personal connections outside one’s own generation.
What should we be made aware of?
Ageist remarks and comments, when internalised, have proven to have negative impacts on a person’s mental and physical health so it’s important to combat ageism at every level of a company.
According to Women 2.0, a recent survey with 1000 participants over the age 40 have provided these key findings:
- 28% of respondents said they’ve experienced ageism at work.
- Men report being more likely than women to have been asked their age when searching for a new job.
- Women are 1.8x more likely to colour their hair than men to appear younger for work while respondents who have experienced ageism are 3x more likely than those who have not experienced ageism.
- Respondents who have experienced ageism in the workplace are 3.6x more likely to fear being pushed out at work because of their age than respondents who haven’t experienced ageism.
- Despite most respondents wanting to retire after the age of 65, 53% believe that it will be difficult to keep their job or get a new one starting at age 50.
Benefitting from age-related differences provides a sound talent pipeline to support business sustainability.
The key is to communicate openly, honestly, and transparently to build an atmosphere where people feel included and respected. This provides a positive employee experience and enables individuals to fulfill their professional needs and potential.
How Emerald aims to enforce a multi-generational workforce:
Our age groups range from 19-55 years and over. 36% of our employees are aged 19 – 30 and 32% are 30 – 39 years, which are both considered the career development years. For the senior employees, 16% are 40 -49 and 8% are 55+. All team members are treated equally regardless of age and we actively encourage this practice throughout the business, whether it is regarding one of our own or candidates.
Data shared is reported from our annual D&I survey (2020)* https://www.emerald-group.com/our-company-statistics-2021/
Sources: Women 2.0 https://women2.com/2019/09/12/ageism-in-the-workplace/