Page 31 - AIMA : Foundation Day Souvenir

HArNESS THE POWEr OF dIFFErENCES
Generational diversity should be viewed as an opportunity to leverage the experience of seniors and the energy of the youth in the workforce.
dr debashish Sengupta, Author, The Life of Z
Currently there are four generations at work— baby boomers (1946-1964), Generation X (1965- 1979), Generation Y or millennials (1980-1999), and Generation Z (2000- 2020). Let us look at how these generations are in terms of their numerical presence and how the workforce composition is likely to be in the near future. By 2028, most of the boomers might retire; however, some will still continue to work for another six to seven years. During the same time, Generation X will outnumber boomers and will be holding most of the senior leadership and senior management positions. By 2025, millennials will make close to 75% per cent of the world’s working population, making them the largest percentage of the global workforce. The oldest of the Generation Z members have started to trickle into the workforce and will continue to do so at an increasing rate in the coming years, making them a close second in terms of workforce numbers in the coming decade. In summary, in the next five years, the global workforce will have few boomers, a good number of Generation X in senior
positions, mostly millennials in key positions driving organisations, and a sizeable number of Generation Z members in entry and mid-level positions. Generation diversity is here to stay, a global reality and something that organisations can leverage on to improve their performance and sustainability.
Who hold the onus of managing generational diversity then? Is it the more mature generation i.e., boomers and Generation X or the relatively younger generations millennials and Generation Z? Undoubtedly, this onus lies with every generation. Empathy is never a one-way street. However, owing to the positional and situational superiority of the mature generations, the onus of initiating and managing generational diversity lies more with boomers and Generation X leaders. Diversity and inclusivity are cultural aspects, and are always driven from the top. Without the intent and commitment of the top brass, these initiatives remain a mere lip service and nothing more than that.
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