The Five Generations in the Workforce
For the first time in history, five different generations make up the workplace. What kind of challenges does this present for today’s employers, and how does a generational workforce affect one’s ability to manage people?
In this session from the 2023 Workers’ Compensation Institute Educational Conference, expert Risk Managers identify key traits, beliefs, and life experiences that mark each generation. Learn about all the evolving factors influencing work, communication, and response to change.
Speakers included:
- Valerie Horton – Risk Manager, City of Tampa
- Regina Lock – Account Executive/Risk Manager, McGriff Insurance Services
Defining the Five Generations
1. Traditionalists (1925 – 1945)
Often defined as “the silent generation,” Traditionalists are regularly viewed as overly proud Americans. Shaped by the environment they were raised in, Traditionalists take responsibility for a family’s wellbeing. They believe in the need for authority and respect across the working environment.
2. Baby Boomers (1946-1964)
Baby Boomers account for 25% of today’s workforce. Motivated by duty, Baby Boomers prefer face-to-face communication as opposed to phone calls or emails. Though, typically a highly competitive group, Baby Boomers are often viewed as “retirement-driven” by younger peers.
3. Generation X (1965-1980)
Making up 33% of the workforce, Generation X is projected to outnumber Baby Boomers by 2028. Personal and professional, Gen X is a flexible and independent group facilitating a large role in various organizations. Keeping up with technological trends is a common challenge for many in this group.
4. Millennials (1981 – 2000)
The Millennial generation is the largest representation of US workforce (35%). Tech-savvy and driven by efficiency, Millennials face scrutiny of entitlement, workplace accommodation, and unrealistic expectations. Though often viewed as impatient by elder groups, Millennials play a key role in bridging the gap between peers of all ages.
5. Generation Z (2001 – 2020)
Gen Z (AKA, the “Zoomers”) holds 11.6% of today’s US workforce. The most diverse of all generation groups, Zoomers are expected to account for 30% of workplace population by 2030. Though Gen Z values diversity, equality, and inclusion higher than other workforce generations, they have serious challenges to break the stereotype as “job hoppers.”
Developing an Adaptable Workforce
As a leader, the best move is to adopt a adaptable and supportive work style. Tap into the concept of Generation Flex– the future of work. Moving forward, managers need to engage with employees with flexible motivations that leverages skills and curiosity. Taking a mentorship approach opens the door for cross collaboration across all age gaps. Instead of dwelling on the differences between generations, consider a perspective that provides leadership and guidance, embraces flexibility, and prioritizes personal and professional development.
By prioritizing human connections, and establishing a genuine commitment to bring together generations, organizations can merge the workforce into its most effective unit.