Challenges of business leaders and HR managers
when managing the 21st century workforce
” A company’s workforce represents one of its most valuable resources: for this reason the way this workforce is managed represents a critical element in enhancing internal effectiveness and improving the organization’s competitiveness” (Rennie 2003)”.
Most HR management systems available in most firms were formed at a time when business and technological practices were completely different. As the world is becoming more economic globalized so is the workforce. The 21st century workforce will consist of multi-generational team and a mix of minorities. With a more diverse and complex ...view middle of the document...
Many firms suffer from a high turnover rate and disloyal workers. Here today, here tomorrow.
* Training for self-development. Today’s managers are tomorrow’s leaders. The information turnover.
* Managing workforce diversity, managing a multi-generational workforce. These differences might lead to further conflicts by dividing the workforce into an ‘‘us vs. them’’ mentality (Yang and Guy 2006).
* Cultural differences. The same instructions given to employees from different cultural background may be perceived differently ending up with different result.
* The ability to adapt to new technology. This challenge is highly relevant for the elder generation of workforce.
Businesses are in the preliminary stages of experiencing the challenges of multi-generational workforce. However, this development has gathered the responsiveness of many managers. As businesses organize themselves for future generational shift, they should take complete advantage of the experience of their long-serving workers, while concurrently reconsidering old models about what work is and how it is performed (Lussier, Robert & John 54).
Contemporary staff consists of four separate and diverse generations: baby boomers, generation x, generation y, and the traditionalists. For companies to be fruitful, managers will have to provide and develop advanced solutions to outfit the career requirements of each generation. Traditionalists consist of employees born in the 1950s and earlier. The generation is distinguished from the rest by its possession of experience that mangers need to leverage before they retire. Baby Boomers consist of individuals in their 40s and 50s who are currently holding powerful positions due to their cumulated expertise. They are loyal and happy to abide by the rules. But, they are resistant to changes and bad at multitasking because they didn’t develop this skill growing up as it was not needed back then. Generation X- consist of individuals born between 1961 and 1970. In contrast to baby boomer, this generation works to live. They are not loyal to their companies, they distrust institutions and assume that every job is temporary, a stepping stone. They work better in isolation. Generation Y were born in 1971 and later and they are the fastest-growing generation at the work place with a high set of skills and self-reliance (Lussier, Robert & John 55). Like generation X they are not very loyal, but in contrast they are very good at collaborating and favor team work. Due generational differences in values, ways of working, and ways of thinking the integration and blending is causing intergenerational problems. But one of the most unique benefit of generational blending is creativity. People from different perspectives have the potential to bring innovative solutions to problems that occur. The potential for positive creative synergy is immense.
Attracting and retaining talented employees.