Multigenerational Workforces - Maximising the Opportunities

The Work Foundation at Lancaster University examines issues that affect business and the modern workplace. This 2024 report, called "Working Together: Maximising the Opportunities of a Multigenerational Workforce", looks at how labour markets across developed economies have changed enormously in recent decades, with particular reference to age. For the first time in history there are now four generations in the workplace – and this provides new opportunities for employers and workers.

The results of this survey reveal that British business leaders recognise the workforce is becoming more age diverse:

• 73% report there are more generations in work today than in the past
• 70% say their organisation benefits from the diverse perspectives brought by a multigenerational workforce.

However, evidence also suggests employers need to take proactive action – only 18% of business leaders report including age in their EDI policies, just 16% have a menopause support policy, and only 13% have age champion schemes.

The rise of the multigenerational workplace will place new demands on employers – particularly when it comes to implementing policies that meet the needs of different generations throughout their working lives. Those employers who do so will be better placed to recruit and retain staff, and develop more productive, happy and healthy workforces.