The document discusses the strengths and weaknesses of different generations in the workforce including Baby Boomers, Generation X, Millennials, and Generation Z. Baby Boomers are characterized as workaholics but less tech savvy. Generation X values work-life balance but is less satisfied with management. Millennials are independent but have weaker work ethics. Generation Z is very tech savvy but more cynical and reliant on technology.
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Generation of Workforce
The document discusses the strengths and weaknesses of different generations in the workforce including Baby Boomers, Generation X, Millennials, and Generation Z. Baby Boomers are characterized as workaholics but less tech savvy. Generation X values work-life balance but is less satisfied with management. Millennials are independent but have weaker work ethics. Generation Z is very tech savvy but more cynical and reliant on technology.
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Objective:
1. Identify & differentiate the different generation of workforce
2. Familiarize the strength and weaknesses of each generation 3. How does each generation affect organizational performance Strengths: Boomers are characterized as being workaholics who relish long weeks and overtime. They are more committed to their roles than any other generation1 Baby boomers are considered good team players, with 53 per cent of organisations saying they work well with others2 The professionals in this generation are regarded as making excellent mentors to their colleagues and juniors in the organisation Weaknesses: This generation has a preference for structure and discipline, and are less inclined to welcome change Boomers are competitive, so they need recognition and rewards to keep them motivated to achieve more Baby boomers are regarded as the least tech savvy of all generations, prohibiting their ability to keep up with developments Strengths: The majority of organisations (70 per cent) believe Gen X are the best overall workers3 These professionals are committed to juggling work with family time, and favour work-life balance in an organisation4 Gen X is considered to be the biggest revenue generators overall Weaknesses: Less than 40 per cent of Gen X are satisfied with the senior management in their organisation5 This generation is less inclined to say something if they disagree with management than their successive generations Gen X value being able to do things quickly and are less inclined to spend hours of overtime completing something perfectly Weaknesses: Due to their independent nature, Millenials are not as interested in teamwork as other generations Millennials do not have as strong a work ethic, with an average of 38.8 hours spent at work a week compared to previous generations who both average above 40 hours 8 This generation is impatient when it comes to career growth – 49 per cent are likely to leave before two years if they feel their skills are not being developed9 Strengths: The most tech competent of any generation, members of Gen Z are able to pick up new developments quicker than other employees10 This generation is particularly ambitious, with two-thirds of Gen Z saying their goal in life is to make it to the top of their profession11 Gen Z are natural entrepreneurs, with 72 per cent wanting to start their own business and hire people12 Described as the ‘always on’ generation, Gen Z are able to multitask unlike any other generation, using up to five screens at once Weaknesses: Gen Z are regarded as more cynical than their predecessors, favouring a realistic outlook over the idealism of Gen Y Gen Z don’t know much about a time before social media and easily accessible tech. This can make them very reliant on technology to solve problems