The modern business landscape is increasingly characterised by a diverse workforce. This dynamic environment includes employees from multiple age groups, ranging from experienced Baby Boomers with decades of career history to digitally native Gen Z workers. However, managing such a varied workforce presents challenges, particularly amidst the backdrop of rapid technological, economic, and geopolitical shifts.

In fact, the recent Workforce Readiness Gap report has uncovered a concerning lack of confidence among UK employees; nearly half (45%) of employees, across all age groups, have admitted that they don’t think they have the right support and resources to adapt to changing work conditions. This is contributing to a workforce readiness gap, where employees simply aren’t equipped with the right skills to keep up with the pace of change – meaning that, in turn, their organisations also cannot keep up. To tackle this, organisations need to look at everyone in their workforce, across all generations.

Employee confidence falls

In light of this constant pace of change, it perhaps comes as no surprise that three-quarters of UK employees strive to keep their skills up to date. Younger employees, in particular, may feel the pressure to push, and prove themselves even more whilst at the earlier stages of their career. And they’ll want their employers to match this energy, and give them the support and training that they need. However, the Workforce Readiness Gap report found that nearly half of UK Gen Z workers do not feel their employer supports their growth and development – a worrying finding. More concerning still is that this sentiment actually worsens among millennials, at 69%. UK Millennials are also 20% less likely than their Gen Z counterparts to feel they receive the right types of training to do their jobs well.

With such a broad audience with unique needs, it’s important that organisations take steps to address each for their unique needs. With Gen Zs and millennials comprising approximately half of the UK workforce, companies should evaluate their policies and practices regarding these demographics, including revisiting the quality of training provided. Employers must ask questions of themselves, including – Is training accessible? Are there different types of training that cater to different interests? Are we offering learning resources that cater to different attention spans and learning styles? Is our performance review process truly tailorable to individuals? Answering these questions is essential for addressing employee dissatisfaction; it’s important to remember that employees also evaluate their employers.

Attrition is highest in younger workers

Attrition is a major problem and younger employees, in particular, appear restless; the report found that 59% of UK Millennials plan to quit their roles in the next 3-6 months, along with 50% of Gen Z employees. This could be directly linked to the fact that the vast majority of Gen Zs and Millennials think about the future when working. So, it’s clear that there is ambition, desire for growth and predictability among these generations; they are always thinking forward when it comes to their careers. As such, to retain this demographic, organisations should align with their aspirations. Giving employees visibility into the different career paths they can take within their current business, could play a huge role in motivating employees to stay.

By contrast, less than half of boomers think about the future when they’re working. The report found that Boomers are also three times more likely than UK Millennials and Gen Z to say that their manager hasn’t talked with them about their work. From one perspective, this arguably makes sense – this demographic has worked for decades, acquired their skillsets, earned their stripes and, for some, retirement is on the horizon. However, if we look at this from another perspective, these findings raise the question – are UK companies truly tapping into the potential of their older workers? Do they understand the aspirations of that cohort?  Purpose, personal growth, flexibility, as well as the opportunity to mentor and have personal connections all matter here. Are companies looking at things through that lens too? And, if not, how can they?

Embracing future ways of learning

Opportunities for professional development benefit every generation, so they should be front and centre in every organisation’s talent management strategy. Keeping things fresh and exciting will be a huge part of this; with advancements in technology resulting in new ways of learning, businesses can better encourage, and personalise experiences for employees to enhance their skills and remain agile.

Generative AI is one obvious example, with, the PWC finding that 76% of people believing the tech will help them learn new skills. For instance, generative AI can tailor learning to specific needs and goals, so a Gen Z employee can develop the most relevant skills to further their career. Augmented reality (AR) and virtual reality (VR) are also breaking onto the scene, holding huge potential to transform learning experiences – whether it be crisis management drills or simply practising difficult conversations at work. And there is cross-generational appetite for these new modes of learning in the UK as well, with the Workforce Readiness Gap report finding that 60% of Boomers and 67% of Millennials interested in learning that is enhanced by AI or VR. As such, exploring new and emerging technologies to continue to transform how employees, of all age groups, can learn and develop is a vital way for organisations to cultivate a motivated, engaged workforce.

Multigenerational workforces can bring a wealth of diverse perspectives and experiences to the table. While managing a multigenerational workforce presents unique challenges, it also offers significant opportunities for innovation and growth. By understanding the distinct needs and motivations of each generation, companies can create a dynamic and agile work environment that benefits all employees.

By Mike Bollinger, Global VP, Strategic Initiatives, Cornerstone