\n\tEvery day in North America, 10,000 Baby Boomers turn 65. The oldest Boomers in the workplace are 74. Millennials alone now comprise 45 percent of the workforce, Generation Z is rapidly on the rise, and Generation X is far too often left out of the conversation.<\/p>\n
\n\tThis is the numbers problem facing everyone—employers, employees, leaders, and managers—in 2020.<\/p>\n
\n\tGenerations in the 2020 Workforce<\/strong><\/p>\n \n\tBased on the model developed by my firm, RainmakerThinking, there continue to be six generations working side by side in 2020, though just barely.<\/p>\n \n\t \n\tNOTE: The definition of emerging generations is always somewhat in flux. We have adjusted our research to reflect the birth-year definitions for Second Wave Millennials and Generation Z according to those used by the Pew Research Center.<\/em><\/p>\n \n\tThe trends, percentage-wise, are similar throughout Europe and Japan. The percentage of young workers is much, much larger in Africa, Latin America, and much of Asia. In those parts of the world, people born 1990 and later comprise more than 60 percent of the workforce in 2020. The workforce is increasingly global across generations, but a much greater percentage of the new young global workforce will come from outside of North America, Europe, and Japan.<\/p>\n \n\tThis is what I call the Great Generational Shift, a trend I have been tracking in the workplace since 1993.<\/p>\n \n\tHuman Capital Management Is More Complex than Ever<\/strong><\/p>\n \n\tIt is understandable that these numbers would cause anxiety in many organizations. Retiring Boomers take with them valuable relationships and wisdom when they leave, both of which are tricky to pass on to colleagues. Employers may be wondering who in their organization is truly qualified enough—let alone loyal enough—to replace these older, more experienced employees.<\/p>\n \n\tHuman capital management challenges are more complex and challenging than ever.<\/p>\n \n\tResources for succession planning and leadership development are scarce, yet many employers find it difficult to invest those resources wisely. Careers no longer follow predictable, hierarchical paths. Organizations know they must be flexible in order to adapt, but the pace of change today means that is more difficult than ever before. Increasingly, everyone in the workplace is being asked to do more with less.<\/p>\n \n\tYet at the same time, employees are no longer content to lay low in a sink-or-swim environment. They are asking for more. Norms in the workplace are changing—for everyone—and things such as flexibility and culture are in greater demand. Balancing these arrangements with business needs is an added challenge for leaders.<\/p>\n \n\tIt can be easy to reduce these challenges to generational stereotypes in an effort to find solutions. But don’t fall into the trap.<\/p>\n \n\tYou Cannot Manage with a Generational Cheat Sheet<\/strong><\/p>\n \n\tMost people think of generational change in the workplace as a diversity issue. Some experts will give employers a checklist or cheat sheet for each generation, outlining how to attract, hire, retain, and manage people based on birthdate.<\/p>\n \n\tI think that’s misguided.<\/p>\n \n\tImagine using any other diversity lens that way. Simply, it would be offensive. Using a checklist or cheat sheet approach glosses over the fact that there are as many stories within each generation as there are people.<\/p>\n \n\tSo why do I continue studying the six generations working side by side today?<\/p>\n \n\tBecause my research has taught me this: The real punchline of the Great Generational Shift is that employers must rethink human capital management. Gimmicks aren’t enough to engage and retain great employees of any age. Back-to-fundamentals leadership is what works.<\/p>\n \n\tBecause of the incredible pace of change today, younger generations are not “growing up” and “settling down.” Rather than younger generations adopting the wisdom of those who came before, older generations are adopting the wisdom and experience of their younger peers. This is because the macro and micro forces driving the pace of change and business environment of the 21st century affect everyone equally.<\/p>\n \n\t The real diversity lessons of the Great Generational Shift are these:<\/p>\n \n\tLearn more about my latest generational research in the white paper: “The Great Generational Shift—2020<\/a> Edition.”<\/em><\/p>\n![\"\"](\"https:\/\/proactivetraining.com.au\/news\/wp-content\/uploads\/2020\/01\/0107tulgangraph_2020_numbers_table-400x173-1.jpg\")
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