Contrary to popular belief, millennials are not the only generation in the current workplace. To date, most workplaces have at least five generations working synonymously. The current workplace ecosystem features Baby Boomers, Generation X, Millennials, and Generation Z.
As a manpower outsourcing agency in Singapore, we believe that there are some positives to having a multigenerational workforce. Plus, as more and more Generation Z employees enter the workforce. Employers will need to learn how to engage a broad multigenerational workforce.
Major Benefits of a Multigenerational Workforce
One might think that putting a team of different people in a group will result in a number of catty fights. However, there are some major benefits to having a multigenerational workforce. These benefits include:
Employees can learn from one another: As the digital transformation slowly takes over, we must remember that not all employees will be able to keep up. Some of your older workers might find it hard to pick up the newer software and apps needed to streamline their roles. Similarly, there’s a lot that the millennial generation and new Generation Z employees will need to learn.
Reverse mentoring is a growing trend that companies with a multigenerational workforce can tap into. Since Millennials and Gen Z are digital natives, it would be easier for them to teach the older members of the team. Whilst Baby Boomers and Generation X are wiser due to their years in the working world. That way, you’ll save money on training.
Build a healthy talent pipeline: When there is diversity at the workplace, employees can gain a wide range of knowledge, ideas, and unique strengths. When there is skills sharing at play, the organization can create a strong, healthy, internal talent pipeline.
Generate innovation: According to a study conducted by Randstand, more than 80% of employees claim that they generate better and more innovative ideas. The employees claim that they owe much of this idea generation to an age-diverse team. Open communication and collaboration between employees of different ages can lead to these employees combining their past learnings. As well as creating new and innovative ideas.
The Major Strengths Each Generation Brings to the Workplace
Before we jump into the different ways HR executives and employees can bring to the workplace. It’s good to recognise the different strengths each generation (i.e. Baby Boomers, Gen X, Millennials, and Gen Z) can offer your organization.
Below we detail the different strengths each generation brings to the workplace:
Baby Boomers: Despite the “ok boomer” memes and stereotypes. Whilst it is quite rare to see these employees around in the Singaporean workplace. Most Baby boomer employees are an invaluable asset to the office. Some valuable skills that baby boomer employees have include, loyalty, experience, as well as leadership skills.
Compared to other younger employees, baby boomer employees are well known for their loyalty. This means that they’re less likely to job hop and more likely to be emotionally invested in the company’s performance. Learn more about the various strengths baby boomer employees bring to the Singapore office here.
Gen X: Unlike baby boomer employees, Gen X employees are less committed to one employer. However, there is a reason for this. Most Gen X employees want to learn new knowledge and skills. Thus, they choose to switch to employers who can provide them with those benefits. In addition to their hardworking nature, Gen X employees make great communicators compared to their younger counterparts.
This is a generation of workers that feel comfortable communicating both online and offline. Unlike their younger colleagues, Gen X workers do not shy away from face to face meetings and phone calls.
Gen X employees are motivated by both monetary and emotional benefits. In addition to bonuses and healthcare benefits. Most Gen X employees want to collaborate with others in the workplace. Let these experienced bunch mingle around with their younger colleagues and watch the ideas flow!
Check out this article for more traits Gen X workers bring to the office!
Millennials: Also known as Gen Y, millennials are currently the largest group of employees in the workforce today. As such, these employees are the driving force of the company. There are a number of benefits to having millennial employees due to their young age.
Some of these benefits include bringing fresh and new perspectives. They’re trainable and highly educated. A majority of millennial employees have graduated from college and many went on to pursue higher education. In addition, contrary to popular belief, most millennial employees are not disloyal to their employers. Organizations in Singapore will just have to find ways to capture and continually recapture the attention of millennial employees so that they don’t move to other companies to upgrade themselves.
Here at BGC Group, it’s no secret that the office is mostly run by millennial employees. Check out this article to understand what millennial employees in Singapore want from the workplace.
Gen Z: Finally, the youngest group to enter the workplace are the plucky Gen Z employees. As a HR executive or hiring manager in Singapore, you might think that Gen Z employees are just as disillusioned as their dreamy predecessors, the millennial generation. However, this couldn’t be further from the truth. Unlike millennials, Gen Z employees are more realistic. Gen Z employees bring multiple benefits to the workplace. These can include new and innovative ideas, as well as changes to the organization. In addition, unlike the previous generations. Gen Z workers are much more interested in training sessions.
Here at BGC Group, we’re starting to observe the influx of younger, Gen Z colleagues. Click this article to learn more about Gen Z employees in Singapore and what they want from the workplace.
If you are looking to diversify your workplace, look no further than BGC Group! As a trusted recruitment agency in Singapore, we have access to diverse talents across all generations! Learn more about the BGC Group recruiting efforts here!
What are some useful ways to engage a multigenerational workforce? Share your ideas with us in the comments section below!