Much has been said about generational change in the workforce of late. The inexorable march of the younger generation up through the ranks brings with it a unique and very real set of challenges
by Craig Donaldson
Generational change has been a topical issue for HR lately. The inexorable march of the younger generation up through the ranks brings with it a unique and very real set of challenges.
In issue 77 of Human Resources magazine, we looked at this issue from the perspective of baby boomer managers. While they were aware of challenges in dealing with Generation Y, many do not see the magnitude of other factors that will force them to manage generational problems. Factors such as the ageing workforce, skills shortages and soaring attrition rates mean that many managers who are unwilling to embrace generational challenges are going to experience a rude awakening.
A recent survey found that while 58 per cent of Australian organisations have experienced a shift in expectations of employers and their Generation Y employees, only 21 per cent believe they are managing this shift successfully. Furthermore, 32 per cent of organisations acknowledge a tension in the relationship between their managers and Generation Y employees.
It’s not all bad news, however. Managers who are able to successfully work with the younger generation can reap significant benefits for their organisation. Generation Y has a lot to give – and will give its all when given the chance. ‘What makes up and coming HR talent tick,’ on page 14 of this issue, features a dialogue between talented young HR professionals and some of their more seasoned HR and managerial colleagues. It provides some unique and unfettered insights into what drives Generation Y, the parameters in which they need to operate and exactly what they want out of an organisation.
The ability of baby boomer managers to work with their younger colleagues is made even more important for organisations, given the issues raised in the article to the right. In Australia, 85 per cent of labour force growth projected for the period of 2002 till 2012 will come from the 45–64 age group. Organisational knowledge is an intangible asset, but one which even CFOs would be hard pressed to deny the value of.
It will be an interesting ride for many organisations as they come to grips with generational change and retaining the knowledge of older workers in the years to come.
