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Multi-generational, diverse, resilient: the key to a thriving workforce of the future

Organisations need to be more resilient than ever to respond to high inflation and energy costs, global economic instability, and changing worker and customer expectations prompted by events like the pandemic.
MAY 23, 2023
Multi-generational, diverse, resilient: the key to a thriving workforce of the future
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Of the many issues organisations are dealing with today, one of the most prevalent is the labour and skills shortage. A 2022 Fortune/Deloitte CEO Survey found over 70% of CEOs feared shortages could disrupt the delivery of their business strategy over the next 12 months.

 

Organisations five years ago may have implemented a ‘restructure and rehire’ strategy to create a fit-for-purpose workforce. Today, it’s increasingly difficult to fill the ‘hire’ part of the equation. So new strategies are being adopted to meet workforce needs. The Human Resource Directors (HRDs) I speak to are focused more than ever on retention, reskilling and hiring from previously underrepresented talent pools, such as older and early career workers, from more diverse backgrounds.   

 

The question is, how can organisations tackle skills shortages and build the resilience to achieve high performance and profitability even during challenging periods? By building a sustainable workforce.   

 

The sustainable workforce  

Businesses are facing cost pressures, an unpredictable environment, a need for constant skills transformation and evolving worker expectations. With one survey showing a third of workers experiencing burnout, and a disconnect between leadership and the workforce post-pandemic, it is critical for employers to rethink workforce management. By viewing the employee experience holistically, from pre-onboarding through to exit and transition, organisations can create a framework to transform the workforce in a sustainable way.  

 

Workers want career development and organisations require skills. But workers do not feel they are being invested in. Sustainable workforce practices not only empower and enable individuals to future-proof their employability, but also take consideration of the evolving population. Indeed, working longer is becoming an imperative around the globe, and with that the need to accommodate a multi-generational workforce.   

 

The benefits and challenges of a multi-generational workforce  

These benefits are generally well recognised, from more meaningful knowledge sharing to different perspectives and ideas, diversified skills and improved customer experience. The accumulated knowledge of Baby Boomers (born between 1946-64, currently 57-75 years old) is also hugely beneficial for training, development and mentoring programmes.    

 

But the challenges of managing and engaging a workforce that spans multiple generations can be multifarious and complex. Work priorities, attitudes and needs can vary.   

 

Research shows that Millennials (Gen Y, born between 1982-94) value career guidance through training more than any other generation, while Gen Zers (born after 2000) prioritise a commitment to diversity and inclusion. Young workers may require – and prefer – in-person training and mentoring, but they cannot learn from more experienced workers if those workers prioritise and enjoy remote working.  

 

However, different generations express similar attitudes and priorities with regard to wellbeing and career development. Recent Adecco Group research, which surveyed over 30,000 office-based and non-office-based workers globally, found that half of workers fear experiencing burnout in the future and agree that employers can and should support wellbeing by encouraging employees to take full annual leave, allowing time off for mental health concerns and building a culture of trust. Flexible working is also valued across generations, especially by Millennials and Gen X,  as is career development. 

 

A multi-generational, sustainable workforce  

So how can a multi-generational workforce become a thriving workforce of the future? For organisations that want to build skills and organisational resilience, we find the following strategies to be particularly effective:
  

  • Build a culture of trust and work-life integration  
    Satisfy multi-generational and business needs by building a culture of trust. Move away from  a control mentality and set clear expectations for productivity over the number of hours worked, if possible. Consider how leadership teams can engage in role modelling and build trust. Workforce transformation is only successful in the long term when there is a culture of trust in place to support it. 

  • Adopt inclusive policies and practices and work flexibility
    Implement inclusion strategies that accommodate the needs of different generations. Flexible working options are valued at all ages, so allow these to become a standard where possible.  Strike a balance between remote working and in-person training needs. Hire responsibly and ensure your hiring process removes bias, commit to diversity and inclusion, and make leaders accountable. 

  • Invest in employability and mobility to future-proof the business  
    Implement an internal career mobility strategy focused on skills mapping, sharing and development that builds on senior leadership buy-in. Invest in upskilling/reskilling for all and make these opportunities visible so employees can own their career development. Workers expect to have different jobs during  their careers, and lifetime learning will be necessary to stay relevant. Career coaching is a strong driver for engagement in skilling activities. Be strategic about skills sourcing, as this can boost retention and save on redundancy and recruitment costs. 

  • Use data to guide HR and leadership decisions  
    There are no one-size-fits-all HR solutions – a diverse workforce and an inclusive workplace demands a personalised, human-centred approach. Gather demographical data on your workforce and use surveys to uncover employee preferences, priorities and motivations. This intelligence will shape and personalise HR strategy.    

By creating a workplace where diverse, multi-generational teams can thrive, and providing opportunities for skills development and career advancement at all levels, organisations can build a sustainable, resilient workforce.

 

 

References

1. LHH, Global Workforce of the Future, Unravelling the Talent Conundrum, 2022, p39-42. 
2. LHH, Global Workforce of the Future, Unravelling the Talent Conundrum, 2022, p26. 
3. Adecco, How to Manage a Multigenerational Workforce, p15: https://www.adecco.com.au/media/adecco-au/client/pdf/multigenerations.pdf  
4. Adecco, How to Manage a Multigenerational Workforce, p16: https://www.adecco.com.au/media/adecco-au/client/pdf/multigenerations.pdf 
5. Adecco, How to Manage a Multigenerational Workforce, p5: https://www.adecco.com.au/media/adecco-au/client/pdf/multigenerations.pdf 
6. LHH, Global Workforce of the Future, Unravelling the Talent Conundrum, 2022, p40. 
7. Deloitte, CEOs Eye 2022 With Optimism and a Dash of Uncertainty, 2022. Link: https://www2.deloitte.com/us/en/pages/about-deloitte/articles/press-releases/ceos-eye-2022-with-optimism-and-a-dash-of-uncertainty.html 
8. OECD, Retaining Talent at All Ages, 2023. Link: https://www.oecd.org/employment/retaining-talent-at-all-ages-00dbdd06-en.htm