Meeting the challenges of a multi-generational workforce
For the first time in history, employers are faced with a new complexity in their landscape, a 5-generational workforce.
It’s unchartered territory for businesses, who could now be working with Traditionalists, Baby Boomers, Generation X, Millennials and Generation Z. Each have so much to offer an employer, but also come with their own expectations, generational views, preferences and needs which they are looking for an employer to accommodate.
What does this mean for employers?
Needs, aspirations and expectations across the generations is different, which makes it challenging for employers, but ultimately, the unifying characteristic is the desire to be engaged at work with a management team who can help them achieve their specific goals.
Employers need to focus on employee development, under an engagement platform that drives financial, physical and emotional wellbeing.
Transparency is also key, driven in the main part, by the demanding millennials who have been raised to seek fulfilment, so employers who deliver consistent communication on finances, organisational change and business challenges will always be ahead when it comes to creating an engaging employer brand.
Becoming the brand
Every generation values authenticity, it’s simply how consumers now measure brands. And employer brands are no different. Employers need to ensure they breathe their brand, authentically, from the inside out. For example, Lloyds Banking Group, Helping Britain Prosper, is all about creating opportunities for all the share in the economic and social benefits of a successful UK. For employees, this translates into supporting local communities and charities through colleague skill-based volunteering, charity fund-raising events, signing up 23,000 colleagues to become digital skills champions so they can support people and organisations in their communities as well as driving a company-wide agile working initiative which gives colleagues more control of where and how they work.