Managing a Multigenerational Workforce: How can Leaders Improve Communication and Productivity Across Five Generations?

Why an Age Diverse Workforce Pays Dividends

Multigenerational workplaces are increasingly common, as employees span across four and soon to be five generations. That’s because, in the last century, the West has added 30 healthy years to the average lifespan. People are living longer and wanting to work longer, too.

Having a workforce that ranges from Baby Boomers (in their 70s) to Gen Z (just entering the world of work), creates an extraordinary opportunity for companies to drive business growth, fuelled by employees’ diverse talents and experiences.

As global experts in over-50s in the workplace, 55/Redefined has evidence that shows when organisations commit to hiring and retaining older workers, employee attrition reduces, Net Promoter Score increases, and workforce happiness improves (1).

How to Create an Environment that Encourages Communication

An age-diverse workforce can present challenges; for example, different generations often fail to communicate with each other. According to LinkedIn, four out of five under 27-year-olds haven’t spoken to an over-50s work colleague in the last year and half of over 55-year-olds avoid conversations with their youngest colleagues (2).

It can lead to an 'Us vs. Them' dynamic, but it doesn’t have to be that way. A multigenerational workforce opens opportunities for employees of very different ages to learn from each other and fosters mentoring. Creating mentorship and reverse mentorship programmes promote team bonding, knowledge sharing, and an understanding of others’ drivers.

A culture that draws on the experiences and skills of different generations can be an excellent way to uncover innovative solutions to your company’s challenges.

55/Redefined has been working with global advertising company, Dentsu, on their digital marketing apprenticeship programme, open to people of all ages including those over-50, offering them the opportunity to upskill or reskill, return after a break, unretire, or make a 'squiggly career' move.

Hiring Multigenerational Employees who Reflect Your Customer Base is a Strategy for Business Growth

Today, 70% of the wealth in the UK is held by the over-50s, and by 2040, it’s estimated that 63p in every pound spent in the UK will be by someone aged 50 or over (3). And yet the typical customer service agent in a call centre is in their 20s.

Wouldn’t it make more sense to increase the proportion of older workers so that employees in customer-facing roles accurately reflect the customer base? People naturally prefer to speak with someone who has had similar life experiences, and who understands and empathises with their issue. By embracing a multigenerational workforce, a company can better serve all their customers, and increase customer satisfaction and loyalty.

We worked with leading insurance company Hastings Direct to hire an age-diverse workforce which better reflected their customer base. Read their success story.

How Unconscious Age Stereotypes Can be Overcome

Each generation has been formed by the different experiences it has faced, and so it has gained different skills and modes of working along the way. Someone who started their working life during the pandemic may be more comfortable with remote work than an older worker who prefers working in an office.

However, it’s important not to allow generalisations to become stereotypes; for example, “older workers don’t understand technology.” Not only is this untrue, but perpetuating such myths can damage an employee’s effectiveness. A 2017 US study found that employees facing age-based stereotypes are "less able to commit to their current job" and "less focussed on long-term professional goals" (4).

Some of the simple measures 55/Redefined recommends to combat unconscious ageism include organising over-50s groups to discuss potential issues, auditing company imagery to ensure it reflects employees of all ages, and celebrating the success of older employees in activities outside work within company newsletters.

We also offer a range of learning and engagement solutions around age-conscious inclusion and leading multigenerational teams.

Digital Fluency + Knowledge Base = Better Business Decisions

Diverse teams make "better business decisions 87% of the time" and team results improve by 60% (5). Diversity takes in sex, race, religion, disability and sexuality, of course, but it also includes age. So, while younger employees may be more digitally fluent, older workers probably have more years of industry knowledge. An age-diverse workforce allows companies to pool employees’ skills and knowledge, increasing productivity and efficiency.

Employees of different generations can learn new skills from each other, widening the skill set available within the company. With four or five generations’ worth of different life experiences, companies can both draw on wisdom gained through decades of experience while, at the same time, encourage insights that challenge conventional thinking. It has certainly been a topic of debate and discussion at 55/Redefined’s Age Pioneers Summit, attended by senior HR leaders who share their age inclusion journey and age strategy.

Boots UK is one of our Age Inclusive accredited companies that recognised a need to attract and retain an age-diverse workforce.

Intergenerational Working Makes for a Resilient, Flexible and Productive Team

A workforce with intergenerational cooperation is inherently flexible. For example, older workers don’t need to take holidays when schools break up, in the way that parents with school-age children do. The over-50s may also be willing to work shift patterns that younger workers find unattractive, such as early Sunday mornings. In a survey of over-40s workers, 42% said the most important consideration of a new job is flexible working patterns (6).

Older workers are also prepared to make a salary sacrifice in exchange for flexibility. By offering flexibility to older workers, companies can make their workplace more attractive to an age-diverse workforce. A multigenerational company can also be more resilient and adaptable – older workers have lived through previous downturns, recessions and challenging periods, and have insight in how to cope in the face of change.

No Age Strategy = No Growth Strategy. Read more about our customers and partners who are leading the way in Age Inclusion.

What’s Your Age Strategy?

You will now have realised that the commercial benefits of hiring and retaining a multigenerational team are undeniable. Beyond fostering a diverse and inclusive workplace, it’s a strategic move that contributes to stability, expertise and long-term success. By tapping into the wealth of experience and skills that older workers bring to the table, your organisation can thrive, not flounder.

Join the Age-Inclusive Revolution

Recognising, celebrating and retaining older workers has never been more important. 30% of the global workforce will be aged 50 or over by 2050, and ensuring they have a valued place in your business is vital to growing your business.

If you are a company that doesn’t have an Age Strategy, 55/Redefined are here for you.
Becoming an Age-Inclusive Accredited employer tells the world that you’re a forward-thinking business that cares about age diversity in the workplace.

If you're intrigued and eager to learn more about how incorporating age diversity can transform your retail workforce, get in touch. Our team is ready to show you how we’re helping our retail customers benefit from the untapped potential of an experienced, willing, and dynamic older workforce.

GET IN TOUCH

About 55/Redefined

The 55/Redefined group encompasses three businesses focussed on the 50+ demographic – Work/Redefined – our B2B Enterprise Solutions business, Life/Redefined – our D2C Consumer Platform and Jobs/Redefined – our Job Board Marketplace for Hirers and Candidates.

About Work/Redefined

Work/Redefined is redefining age inclusivity in the modern workplace. It works with businesses to enable organisations to become the employer of choice for the over-50s.

References

1 https://assets.publishing.service.gov.uk/media/5a747dd640f0b646cbc403e3/older-workers-and-the-workplace.pdf

https://www.linkedin.com/posts/lyndsey-simpson-045b034_were-wasting-the-over-50s-give-them-jobs-activity-7189888438450421760-YkpL?utm_source=share&utm_medium=member_desktop

2 https://www.raconteur.net/future-of-work/generational-echo-chambers?utm_campaign=Daily%20Newsletter&utm_medium=email&_hsmi=86879872&utm_content=86879872&utm_source=hs_email

3 https://newsroom.saga.co.uk/news/over-50s-contribute-more-than-6-trillion-to-the-uk-economy

4 https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5731480/

5 https://www.cloverpop.com/hacking-diversity-with-inclusive-decision-making-white-paper?utm_campaign=Forbes&utm_source=Forbes&utm_medium=Forbes%20Hacking%20Diversity%20White%20Paper

6 https://www.reedtalentsolutions.com/guide/understanding-internal-mobility-and-the-ageing-workforce-downloadable-whitepaper