4 Good Reasons to Combine Generations X, Y, and Z

With longer life expectancies, it is now quite common to find four generations of employees within the same company, from baby boomers to Generations X, Y, and Z. Of course, these workers of different age groups bring their share of challenges to employers, but they also have many strengths. For instance, one study reported that companies with above-average diversity and inclusion earned 19% more innovation-related revenue than companies with below-average diversity. Here are four good reasons why you should capitalize on the strengths of a multi-generational workforce.

A baby boomer, a Gen Xer, a millennial, and a young adult of Gen Z don't view working in a company (or even life) in the same way, and this can create certain challenges, especially for your managers. According to a study published in 2017, “Harnessing the power of a multi-generational workforce,” 60% of workers claim to have been involved in an inter-generational conflict. It is worth mentioning that these four groups of people have grown up at very different times in history, which has had an impact on their connection with technology, their expectations, their priorities, and their working methods. 

Complementary and diversified skills

Despite the differences within a multi-generational workforce, your organization has everything to gain from working collaboratively. Your managers could benefit from encouraging communication for different generations to get to know and understand each other better. Potential approaches could include inviting guest speakers or organizing training on intergenerational work relations to improve mutual understanding and facilitate discussion.

Mentoring: A powerful tool to build team spirit and give your company a competitive edge

According to Forbes magazine, people over 50 want to help younger people succeed. In fact, 80% of those still working say they would like to mentor them, even if this involves taking up their free time. Many companies are also introducing reverse mentoring, where they ask tech-savvy young people to share their expertise with older employees. This helps them get up to date and become more dynamic workers. ATB Financial’s first chief evangelist, Lorne Rubis, received reverse mentorship from a younger colleague who helped him step up his technical capabilities and try new ideas.

According to Katie Wilson-Ditner, an expert in the challenges of the multi-generational workplace, reverse mentoring is also an effective way to foster a more creative, open-minded, innovative, and agile business culture, because each task is approached from different perspectives and viewpoints.

Finally, by bridging generational and learning gaps, both traditional and reverse mentoring help strengthen bonds between employees. According to a study conducted in 2018 by Randstad Workmonitor, 86% of workers worldwide would prefer to work in a multi-generational team.

Improved business continuity

Another benefit of having a multi-generational workforce is that your company will have less difficulty filling vacancies when baby boomers retire. On the other hand, it is known that Generation Y and Z employees are less loyal to their employer and more inclined to job mobility, so having baby boomers or Gen Xers among your employees may ensure some stability. It is also worth noting that, contrary to some popular beliefs regarding mature employees, a multi-generational workforce could allow for a lower turnover rate than a workforce without age diversity.

An asset for your employer brand

Having a workforce that combines the four generations is a sign of an inclusive human resources approach that is open to diversity and has no age discrimination. However, this sort of corporate culture, which recognizes the richness of diversity and places it at the centre of its hiring process, is one of the essential elements for building a strong employer brand capable of attracting talent. It is a common misbelief that ageism only affects the elderly. However, many young people are also victims of it, sometimes being considered too uncommitted.

So even if having one poses certain challenges, a multi-generational workforce can prove to be a real asset for your company. Each generation has something to teach another, regardless of age. Of course, it is up to your senior executives and team managers to promote good communication and take advantage of everyone's strengths and what unites them. If necessary, you could call on an expert in intergenerational management for everyone to work in harmony.