Getting Along: Managing the Multi-Generational Workforce

Darla Dernovsek
October 3, 2007 | COMMENTS

If generational differences were only about what's on the surface, whether it be wrinkles or tattoos, then differences in working styles could be easily dismissed.

In reality, the differences between generations are more than skin deep. As a result, the impact of generational differences on the workplace can be equally significant.

Experts say that for the first time in America 's history, four distinct generational groups are being asked to co-exist in the workforce:

• The Silent Generation, a subgroup of the larger demographic segment known as “The Traditionalists,” were born from 1924 to 1945 and number 49 million Americans.
• Baby Boomers, born from 1946 to 1964, make up a huge group that is roughly 80 million strong.
• Generation X, born from 1965 to 1977, is sometimes overshadowed by the groups before and after them. Generation X includes 46 million Americans.
• Generation Y, born from 1978 to 2000, is just entering the workforce. This “echo” of the Baby Boomers numbers 76 million, which means their impact on the workforce is destined to be significant.

For credit union leaders, dealing with these four separate generational groups creates unique challenges:

• Understanding that the differences between generation groups reflect strengths as well as weaknesses
• Adapting policies and procedures to reflect differences in communication, self-expression, personal goals, and attitudes toward employers
• Recognizing that a “one size fits all” approach to recruitment and retention may need to be altered to meet the needs and preferences of generational groups
• Recognizing that how credit unions treat the youngest generation of workers could reflect on their ability to attract the youngest generation of members

It can be tempting to dismiss generational differences as a cultural oddity rather than a workplace reality. While it is true that generational differences can be overblown, they deserve serious consideration by credit unions that want to recruit and retain the next generation of workers and leaders amid a tight labor market.

This is the executive summary from Darla Dernovsek's new white paper entitled “Getting Along: Managing the Multi-Generational Workforce.” Read the complete paper in the white paper section of the CUNA HR/TD Council site.