What Are the Benefits of a Multigenerational Workforce?

A lot of people underestimate the power of a multigenerational workforce. They believe that young and motivated talent is the best way to grow a business, but it’s also important to add a splash of veteran knowledge to keep things balanced. So to help you out, here are a couple of the biggest benefits of building a multigenerational workforce.

It creates a talent pipeline

It’s ideal to create a work culture that supports employees for as long as possible. Whether it’s providing benefits or offering opportunities for promotion, it’s a good idea to keep loyal employees for as long as possible. By creating a multigenerational workforce, you create a talent pipeline that grows and ages with your business. Senior members will eventually retire and pass down their responsibilities and knowledge to the younger generation who will also age and eventually move on. This can reduce hiring costs and also greatly improve productivity.

The best of both worlds

Younger employees are known to bring innovation and motivation into the workplace, but it needs to be balanced by someone more experienced who can keep those wild ideas in line. This is where a multigenerational workforce comes in handy. You can get both talented and innovative employees together with experienced veterans if you focus on hiring from different age groups.

Leading a multigenerational workforce can be challenging. To help make things easier, we’ve included a helpful infographic below that will explain how you can lead a multigenerational workforce. It goes into detail about each generation while also explaining some of the challenges of working with each of them.

Infographic: Norwich University