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Generational diversity

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The biggest demographic shift impacting the diverse workforce is generational diversity. Because people are living longer and healthier lives, they’re also working much longer, past the average retirement age of 65. In fact, the United Kingdom recently removed its mandatory retirement age of 65. In the United States, millennials make up 50 percent of the workforce, and that number is expected to reach 75 percent by 2030.

Although people are living and working longer, baby boomers are just now retiring from the traditional full-time workplace. In addition, Gen Xers are looking toward retiring the 40- to 60-hour workweek for more much more flexibility in how and when they work. That makes sense, because Gen Xers are now the in-between generation caring for aging parents and raising children.

With that said, considering how the generational shift will impact your workplace is important. For instance, do you have succession plans and promotion plans in place?

An organization’s competitive advantage often boils down to its human capital — in other words, the people who possess the knowledge, skills, and experience needed in the company. So think of the diversity landscape as a garden of talent that needs to be cultivated. Cultivation takes foresight, planning, execution, and a desired outcome for the growing talent harvest. Think about what your executable plans for growing your talent are.

You can also utilize the following tips toward the shifting aging workforce:

 Make the most of workers’ skillsets through efficient and productive work design.

 Maintain skilled leaders and managers who can effectively lead across generations.

 Deal with conflict by managing it fairly, communicatively, and equitably.

 Foster an inclusive environment that demonstrates value for all ages and the dimensions of diversity.

The huge demographic shift of the aging workforce has the potential to disrupt the productive flow of the workplace. But it also provides an opportunity for lesson-learning and adapting so that the workplace can flourish by gleaning from the top talent aging toward retirement and cultivating the talent in the middle and beginning of the career path.

Diversity, Equity & Inclusion For Dummies

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