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Managing a Multi Generational Workforce

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Managing a multi-generational workforce—a talent pool of different generations— is a relatively new challenge. You may find yourselves managing employees who are in their teens or those who are close to retirement. Singapore’s diverse and multi-racial community is an added challenge, especially with different races, religions, and value systems affecting how your employees connect with each other. Ensuring that these varied groups of employees work well together is critical for companies. Thus, it is important for you to address the generational gaps so as to create an inclusive work culture that will enhance their capabilities and leverage on their strengths. 

Benefits

A multi-generational team that works well together offers the whole organisation numerous benefits. First of all, each generation brings with it unique experiences, knowledge, ideas and skills. Workplaces are enriched not only when they are harnessed, but also when there are opportunities for healthy discussions and debate. With effective management of the challenges brought on by a diverse workforce, companies can reap the following benefits:

  • Innovation and creativity

Diverse skill sets, knowledge, experience and unique perspectives of each generation give your employees the opportunity to grow and learn from one another. The daily workplace interactions form a platform for knowledge transfer, which in turn spurs innovation and creativity. Employee morale is boosted as they feel that their contributions to the workplace are valued. It also fosters an inclusive workplace that is greatly perceived as a pleasant environment to work in. Diversity in leadership also allows you to bring in new skills, styles and approaches for achieving unity within your teams.

  • Attraction and retention of talent

Your ability to effectively manage a diverse workforce allows your company to attract and retain competent talents from various fields. When you advocate fair employment and non-discriminatory practices, your employees are less likely to leave your company and will take pride in working for you. It also develops loyalty among your employees, leading to higher retention rates and cost-savings as you spend less time and effort on recruitment.

  • Increased adaptability and services offered

A diverse workforce equips your organisation with the right tools and skills to adapt to the requirements of an equally diverse customer base. Such a workforce gives insight into varied customer needs, trends and changes. Diversity in knowledge, skills and experiences such as languages and cultural understanding also places your company in a better position to serve global customers.

  • Increase in employer branding

By offering re-employment opportunities, your company has better chances of getting recognized as an employer of choice. Adopting fair employment practices and enabling your skilled and capable mature employees to continue in the workplace increases your organisation’s branding, which in turn will help you retain your best talents and instill loyalty in your employees.

Learn more about how different generations work, relate to and perceive other generations in Harnessing the Potential of Singapore’s Multi-Generational Workforce.