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Hello,

In this special edition of our newsletter we have two lead stories. First we announce our 26th anniversary followed by an article about a multi generational workforce case study.  Also see articles on Payroll, Delivery Services, Fintech, Private Equity, Outsourcing, vacation time, and Benefits.  

Best,

Corban OneSource, CEO

From above Article.  

Throughout the latter part of the 20th century, the workplace was based on largely rigid, hierarchical systems that demanded a respect for authority and strictly dictated working styles, hours and promotional structures. This was a direct result of soldiers leaving active duty in the aftermath of World War II, integrating into civilian life, and creating organizational structures based on their experience in the armed forces. As the Baby Boomer generation begins to leave the workforce and younger generations have more influence, these old structures and rigid rules are beginning to soften with the new expectations that younger workers bring. However, this creates challenges for organizations looking to navigate multi generational workforce training. Let’s look at a Multi Generational Workforce Case Study.

 Multi Generational Workforce Case Study.

The modern workforce continues to grow more diverse. According to recent data published by John Hopkins University, the current workforce is comprised of Baby Boomers (19%), Generation X (35.5%), and Millennials (39.4%). However, 100,000 Baby Boomers reach retirement age every day, so by 2030, the workforce will be 30% Generation Z. Each of these generations brings unique values and perspectives to the workforce. For example, Baby Boomers sought job security while Millennials and Gen Z workers value company ethics and having a positive work-life balance.

And, as younger generations continue to constitute a larger portion of the workforce, policies will continue to change to keep pace with what these employees demand from their employers. 73% of Gen Z employees are looking for flexible work environments and 77% want to work for a company whose values align with their own.

At the same time, there is also an interesting challenge facing the workforce. As Baby Boomers age, the worker-to-retire ratio will be pushed lower than ever. This is not because young people are not working; they simply make up a smaller percentage of the population than Baby Boomers did at the same age. Thus, diversity programs should not just focus on race and ethnicity but evaluate the generational differences within the workforce.

Multi Generational Workforce Case Study

To support this diverse workforce that spans numerous generations with distinct preferences, it’s important to develop training programs that accommodate them accordingly.

  1. Challenge Stereotypes: As your organization seeks to implement multi-generational workforce training, begin by identifying and looking to overcome traditional, harmful stereotypes about each generation. Perpetuating stereotypes only strengthens the divide between employees of different generations. Employee values are largely influenced by experiences within their lives and professional careers, like economic recessions and a global pandemic. However, not every member of a generation has reacted to the same events the same way. Avoid making age-based assumptions and instead, try to understand the events that these generations have experienced.
  2. Establish Clear Communication: It cannot be assumed that everyone will have the same communication preferences. Leaders especially should seek to understand what types of interactions employees feel most comfortable with and build a communication strategy that can meet these preferences or provide a compromise. For example, younger employees may prefer text or email for communication, while older employees may prefer phone calls and face-to-face interactions.
  3. Respect Boundaries: In the modern workforce, topics that were once considered avoidable, like mental health, pay, and diversity, are now discussed with wider acceptance, especially by younger generations. Companies should seek to develop an inclusive decision-making process that values the opinions of a diverse workforce and ensure that each employee can weigh in on discussion regardless of experience level, age, or seniority.

For companies having difficulty navigating the nuances of a Multi Generational Workforce Case Study, turning to an HR outsourcing partner, like Corban OneSource, with experience providing service to companies that have between 75 and 6,000 employees, can help guide you through the HR and compliance process for improved hiring, onboarding, and retention.

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