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Tailoring Retention Strategies for a Diverse Multigenerational Workforce
Abstract
Organizations today possess a workforce that is diverse not only in terms of gender, race, or culture but also age.
The current multigenerational workforce comprises Baby Boomers, Generation X, Generation Y (Millennials), and
Generation Z, each with distinct expectations and work ethics. Understanding these generational differences and
implementing effective retention strategies is crucial for organizational success. This paper discusses key
strategies, including comprehending generational mindsets, offering flexible work platforms, fostering effective
communication, promoting inclusivity, conducting mentorship programs, recognizing employee achievements,
utilizing survival analytics, and ensuring proper medical management. By addressing these factors, organizations
can enhance employee satisfaction, reduce turnover, and foster a thriving work culture.
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Purpose
– Popular literature argues that successive generations are experiencing more job changes and changes of employer. The “new careers” literature also proposes that career mobility patterns are becoming more diverse as people engage in more downward and lateral job changes and changes of occupation. The purpose of this paper is to test these assertions by comparing the career mobility patterns across four generations of workers.
Design/methodology/approach
– The authors analyzed the career mobility patterns of four generations of Canadian professionals (n=2,555): Matures (born prior to 1946); Baby Boomers (1946-1964); Generation Xers (1965-1979) and Millennials (1980 or later). Job mobility, organizational mobility and the direction of job moves were compared across groups through analysis of variance.
Findings
– Significant differences were observed in job mobility and organizational mobility of the various generations, with younger generations being more mobile. However, despite significant environmental shifts, the diversity of career patterns has not undergone a significant shift from generation to generation.
Originality/value
– This is the first quantitative study to examine shifting career mobility patterns across all four generations in today’s workplace. The authors extend previous research on generational differences in job mobility by using novel measures of career mobility that are more precise than extant measures.
Organizations are currently facing the retirement of many older workers and the challenge of recruiting and retaining young talent. However, few studies have empirically substantiated generational differences in work values. This study examines the work values of a nationally representative sample of U.S. high school seniors in 1976, 1991, and 2006 (N = 16,507) representing Baby Boomers, Generation X (GenX), and Generation Me (GenMe, also known as GenY, or Millennials). With data collected across time, these analyses isolate generational differences from age differences, unlike one-time studies, which cannot separate the two. Leisure values increased steadily over the generations (d comparing Boomers and GenMe = .57), and work centrality declined. Extrinsic values (e.g., status, money) peaked with GenX but were still higher among GenMe than among Boomers (d = .26). Contrary to popular press reports, GenMe does not favor altruistic work values (e.g., helping, societal worth) more than previous generations. Social values (e.g., making friends) and intrinsic values (e.g., an interesting, results-oriented job) were rated lower by GenMe than by Boomers. These findings have practical implications for the recruitment and management of the emerging workforce.
Offers a public health and prevention framework for occupational health psychology. The authors suggest that occupational health psychology should develop, maintain, and promote employees' health and the health of their families. The prevention model presented and elaborated throughout the structure of the handbook classifies preventive interventions as primary, secondary, or tertiary. Primary interventions focus on people who are not yet at risk. Secondary interventions focus on people who are suspected to be at risk for illness or injury, such as smokers. Tertiary interventions focus on those with health problems and are largely therapeutic or curative in nature. Several subsequent chapters in the handbook elaborate and include variations on this prevention framework. (PsycINFO Database Record (c) 2012 APA, all rights reserved)
There are a lot of opinions about who Millennials are, what they think and value, and how they will behave as they grow older
and gain more experience in the workforce. The relatively sparse empirical research published on Millennials is confusing
at best and contradictory at worst. As noted in this article and others in this special issue, however, there are a few topics
including work attitudes, long-term health outcomes, and personality factors on which we have reasonably solid data to inform
us about current and likely future behavior of Millennials. We address the importance of context for understanding behavior
of people in different generations, a subject often missing from the discussion of generational similarities and differences.
There are implications for practitioners of what we know and for how context affects behavior. We make suggestions for how
practitioners can use the data available to inform decisions they make about working with Millennials. Finally, we discuss
the importance of new directions of research on generational differences to help both practitioners and the research community
better understand the realities of generational similarities and differences and rely less on urban myths or stereotypes.
KeywordsMillennials–Generations–Generational differences–Health–Technology–Generation gap–Leadership
The purpose of this study is to identify generational differences and similarities among hospitality employees and managers in order to develop leadership strategies and management styles that can be utilized to increase employee morale and productivity while enhancing recruitment and retention rates of highly qualified workers. Data for this study were collected through a series of in-depth focus group discussions. Findings indicated significant generational differences in world views, attitudes toward authority and perspectives on work. Findings suggested the Baby Boomers respect authority and hierarchy, while the Generation X-ers (Gen X-ers) rebel against authority. Findings also suggested while Baby Boomers live to work, Gen X-ers work to live. The Baby Boomers are willing to wait their turn for promotions and rewards, and are very loyal. On the other hand, Gen X-ers expect immediate recognition through title, praise, promotion, and pay. They also want a life outside of work—they are not likely to sacrifice theirs for the company. The Millennial Generation believes in collective action, with optimism of the future, and trust in centralized authority. They like teamwork, showing a strong will to get things done with a great spirit.
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