The current workforce has a wider range of generations than ever before in US history.
Each generation joins the workplace with unique perspectives, experiences, and expectations. How we unite this multi-generational workforce as entrepreneurs will create either barriers to overcome or a competitive advantage toward success. Millennials are the present and future workforce, expected to make up 50% of the world’s workforce in the next 5 years.
The Millennial Generation is creative, tech savvy, excels at work in teams but with freedom. On the down side, Millennials have a reputation for being spoiled and impatient, ie. they want to be leaders now—without earning their dues.
Boomers have seen it all. Layoffs, downsizing, financial success (and sometimes failure), real estate booms and droughts, and multiple wars. They have had a disproportionate economic and cultural impact on nearly every trend of the past 40 years. Boomers are retiring at an increasing rate and for every two experienced and knowledgeable Baby Boomers that retire, there is one in-experienced Millennial joining the workforce. We need to capture the knowledge and experience of our Baby Boomer Generation before it is lost! Does your organization have a succession plan in place? Bringing a mix of generations together to work with each other, share knowledge, and work styles is the best place to start.