HR trend: Companies should expect to be multi-generational

GREELEY — Age disparity in the workforce is a trend that is inescapable in the data.

“We’ve known for a long time that we’d have worker shortages. COVID may have accelerated that. Holding onto the older worker will be important,” said Amanda Ericson, the founder of HRx Services, a human resources consulting company based in Greeley.

Ericson was one of the speakers at the 2020 Women’s Small Business Conference, titled “Unstoppable,” that was sponsored by the Small Business Development Centers in Larimer County and East Colorado, as well as the Loveland Business Development Center. The conference was at Aims Community College in Greeley.

“In 2050, the average life expectancy will be 90,” she said. That means, given the progression of life expectancies, “that the person who will live to be 150 has already been born.” 

Workers will work longer, and perhaps as many as five generations of people will work in the same workplace. 

Twenty-five percent of the workforce will be older than 55 by 2024. “Sixty year olds will be working alongside 20 year olds. Recent college grads are supervising parent-aged employees.”

All these things mean that companies need to take into account differences between the generations and work to bridge differences, she said.

“We all think differently because of our experiences. This is really important when talking about generations,” Ericson said.

Younger employees express themselves differently than older workers, and those communication styles need to be recognized. Older workers — baby boomers for example — like face-to-face communication. Younger workers might prefer email or texting. Companies need to accommodate the different styles and also pay attention to what the client prefers, she said.

Among the trends Ericson cited:

• Changing roles — Promotions now are based more on performance than on tenure, which means that workplace roles change not by age or time on the job. 
• Changing companies — Getting and retaining employees depends upon what she called the “rule of five,” which means paying attention to location of the job, professional development opportunities, company culture, benefits, and finally compensation. “These things [the order of importance] change as people go through life.”
• Changing careers — “Now, we’re seeing people change careers [instead of changing jobs],” she said. Gen Z might have six or seven careers in their lifetimes, she said.

“As an organization, you need to be thinking of these things. You have to figure out what you are as a company. Your culture. Your strengths in terms of being an employer,” she said.

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