This is the first time in history that there are five generations at work together, and the business implications of such a diverse workforce working side by side cannot be overestimated. Recently, 60 percent of CEOs surveyed by PwC indicated that the multigenerational workforce will in fact “transform” business in the near future.1
For businesses prepared to manage an increasingly diverse workforce, this transformation can be productive — and profitable. As workforce demographics shift and your employee makeup becomes more varied and complex, a long-term workforce management strategy is more essential than ever.
Organisations must be ready for big changes to come — changes that include how to measure and reward productivity, manage absence, and create a culture that resonates with this new generation of workers. Without a doubt, human resources professionals will be key players in readying your organisation for these seismic shifts within your greatest asset — your workforce.