5 Ways to Adapt to Next-Gen Staffing
While baby boomers are retiring, zoomers are getting their first jobs. According to a report by Glassdoor (one of the biggest job search and company review platforms), zoomers will overtake the number of boomers in the workforce in 2024.
The workforce demographics are changing to new generations (next-gen) that have different expectations and values from older generations. To attract and retain top talent, your company policies must include the following five key elements:
1. Multi-generational knowledge exchange programs
Though generation gaps can’t be fully removed, they can be narrowed. To help build smooth working relationships among employees of various ages, your company can establish knowledge exchange programs wherein colleagues can share their expertise with one another. For example, zoomers can teach older generations how to communicate through various forms of media, while boomers can share their tried-and-tested leadership advice to Gen Xers and younger. There’s a lot of knowledge to go around if given the right avenues.
2. Flexible work arrangements
Different generations have different priorities, but all can benefit if your company offers more options beyond the traditional 9 to 5 office setup. Although boomers are used to that, they may want to work more flexibly in terms of hours and locations to help them transition to retirement. Gen Xers and older millennials want the same flexibility to give them the time to raise their children and take care of their aging parents. Younger millennials and zoomers also want the same thing so that they can pursue their personal interests or take on gig work.
3. Support for new technologies
Millennials and zoomers are comfortable with technology, so they expect companies they work for to give them access to the latest tools and platforms. Boomers and Gen Xers are less receptive to new technology, but they’re aware of the convenience and efficiency it can deliver, so they’re willing to adapt as long as they get the right support. Your company should provide comprehensive training to help them adopt new technology and make them feel comfortable using it alongside younger employees.
4. Enhanced rewards and recognition program
A competitive compensation package is appealing to most employees regardless of age, but rewards and recognition work best when personalized according to what they want. Millennials and zoomers appreciate non-tangible benefits such as additional days off, wellness programs, personal development opportunities, and similar rewards that facilitate work-life balance. Gen Xers and boomers want tangible benefits such as bonuses, salary increases, and gift cards for a job well done. For best results, your company can offer a menu of various rewards to your employees so that they can make the choice themselves.
5. Well-defined career path
Younger employees tend to stay at a company for two years or so before moving on to the next opportunity. But they don’t change jobs just for the sake of changing; they do it in search of better pay and experience. If your company can offer growth both in terms of pay and role to your millennial and zoomer employees, they will stay — maybe not up to retirement, but at least longer than one or two years. On the other hand, older employees choose job security, so they tend to stick around, but a long tenure doesn’t equate to job satisfaction. Gen Xers and boomers also need a clear direction in their careers to remain effective in their roles.
The workforce landscape is changing fast, but your company can keep up if your policies are inclusive enough to accommodate diverse employees. More importantly, listen to what your employees have to say. They’re your best source of information about these matters.
