Almost one in four workers will be 55 or older by 2031, and the fastest growing workforce segment? Age 65-plus employees. The US Bureau of Labor Statistics predicts, going forward, that we will have four to five generations in the workforce at any given time.
What does this look like for aging segments and newcomers when only 28% of employers (as reported by Transamerica Institute in 2023) offer specific training that addresses generational differences and helps prevent age discrimination?
While this generation span brings an array of skills and expertise, perspectives and life experiences that can enhance an organization, leaders must learn how to cater to each individual’s learning style and ways of working.
With the right culture and support, companies can make every employee feel heard and valued, leading to enhanced innovation, productivity and overall performance. Here’s how.
Encourage a culture of continuous learning
Managing employees of different ages presents unique challenges due to varying perspectives, needs and experiences. Reverse or mutual mentorships can be good ways to integrate these groups, learn from each other and promote an inclusive culture.
Lectera.com, our online education platform, opens its courses to all ages. We have a lot of interest from students between 18 and 22 years of age (Gen Z) in purely practical courses such as social media marketing, targeting, sales and courses on financial literacy — something that is hardly taught at school. They are also more likely to see online learning as a structured commitment. In comparison, Gen X, or anyone born between 1965 and 1980, tends to favor soft skills, such as “the perfect memory technique” and “the perfect leadership during change.” Our oldest student so far was 86 years old, and she took a course on how to develop and apply charisma, so there is really no age limit for self-improvement. What is interesting is that students across all generations have shown a similar eagerness to boost self-regulation, taking “stress management” and “psychophysiology” courses.
What this tells us is that there is a distinct difference between tech-savvy juniors, who gravitate towards enhancing their financial literacy and professional knowledge, and a mature workforce looking to take on their next leadership role. Understanding employees’ priorities presents an opportunity for mentorship where different generations can support each other, relate and grow.
Offer orientation tests
The Transamerica Institute study found having a sense of purpose was a key reason for 36% of employees working in retirement or past age 65. Moreover, a whopping 92% wish to stay working to keep either themselves or their brains active. This presents a gap where employees want to work, but they may need help refocusing their direction in today’s fast-changing business environment.
A Goldman Sachs report estimated that 300 million jobs could be “exposed to automation” due to AI advancements, meaning that jobs are shifting. Employers must supply their workforce with the means to adapt and redefine their careers as their roles pivot.
Asking employees questions like “What do you think you miss the most to be successful?” “Who could be your role model?” or “What new ability are you most eager to master?” can help them assess where they stand today, what tomorrow looks like and what skills they need to get them there. This helps bring purpose back and motivates them, allowing companies to continue benefiting from their vast experience.
Create flexible work environments
About four in ten Millennials and Gen Z employees place a ‘high’ value on training meetings (45% and 41%, respectively) compared to just three in ten Boomers (29%), born from 1946 to 1964, a Tech Smith study found. Effectively leading a multigenerational team demands a tailored approach.
Some routine is vital no matter what generation category an individual fits into. Regular check-ins with team members create a space where managers can hold employees accountable to their goals and ask about their preferences while offering flexibility in when and how they achieve priorities during the week.
Employers can create a supportive environment where everyone can thrive by adapting leadership styles and empowering employees to develop their learning schedules. Balancing guidance and autonomy helps optimize team performance amidst multigenerational teams and changing workplace dynamics.
Continuous learning is crucial for employees of all ages and companies of any size to stay current in a technological revolution. The pace of change continues to skyrocket, and employers must provide their workforce with the foundations to grow alongside the latest developments. This means combining the technical prowess of younger workers with the seasoned expertise of older employees. Mutual mentoring, role realignment with orientation tests and flexibility between casual check-ins will help empower a motivated and prepared workforce.
Opinions expressed by SmartBrief contributors are their own.
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