In today’s workplace, we are witness to the interplay between four separate generations: Baby Boomers, Gen X, Millennials, and Gen Z. This broad span of generational demographics is historically unprecedented, and as each age group comes with its own stereotypes, preferences, goals, and experiences, managing this diverse workforce is a unique challenge.
We have a wide array of articles addressing generations in the workforce.
Today’s workplace is more diverse than ever, as most corporations’ demographics span across multiple generations. The dynamic that exists amongst this diversity is both fascinating and challenging. This historical coexistence is unprecedented in the workplace, resulting in a sort of corporate melting pot of beliefs, cultures, and work ethic. How do so many different generations – Baby Boomers, Gen X, Millennials, and Gen Z – coexist in the workplace? By better understanding the strengths and experience of each generation, workplaces with high age diversity can yield strong positive results.
From Gen Z to Millennials to Generation X, we have now come to the final generation in today’s workforce: the Baby Boomers. Born between 1946 and 1964, this group has lived through the most pivotal moments in American history. Peaking at 78.8 million in 1999, Baby Boomers remained the largest generation up until 2019. They are the most experienced individuals in today’s workforce, often regarded as workaholics, yet their career future is still uncertain. Is the Great Resignation the time for Baby Boomers to hang up their hats and enjoy retirement?
Known as the digital natives, Generation Z was born between 1996 and 2010, and many Gen Zers are still entering young adulthood. As the Great Resignation continues, largely led by the younger generations, the world is waiting intently to see how Gen Zers decide to situate themselves in the workforce.
Millennials, the largest and most studied generation in history, has played a large part in the ongoing Great Resignation phenomenon. Also referred to as Generation Y, the digital pioneers, the 2nd Me generation, and the hipsters, this generation has earned quite the reputation. Millennials currently comprise more than 35% of the US workforce, and by 2025, they are projected to comprise 75% of the global workforce. What should company leaders be learning from their Millennial coworkers and employees?
During the first five months of 2021, almost 17 million private sector workers quit their jobs, at an average rate of about 3.4 million quits per month.
According to a recent survey and report, the U.S. Job Market Report: Q3 2021 by Joblist, this trend is not likely to slow down anytime soon, with 73% of currently employed workers actively thinking about leaving their job. More than a quarter also said they would be comfortable leaving their current role without a new one lined up. But what is driving this massive exodus?
The issue has been around for many years, but the impact of the Baby Boomer Generation on the workforce is being felt now more than ever. In today’s volatile marketplace, their impact on the current and future workforce has shifted from causing significant skills gaps and knowledge transfer issues, to remaining in the workforce past retirement age due to financial hardships. The previous view of the Baby Boomers was one of subdued panic, with firms thinking that their knowledge through years of experience was walking out the door, leaving a huge skill and experience gap in their wakes. As this is an inevitable eventuality, the concern today is the lack of viable opportunities for the younger IT professional due to older workers remaining in the
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