7 Strategies for Retaining Multi-Generational Employees
As most leaders know, a one-size-fits-all strategy simply doesn’t work with talent retention. As workplace demographics continue shifting, it’s vital to be adaptable. At my company, we can have four—sometimes five!—generations of employees working together for a client, each bringing their unique strengths, expectations, and needs to the table. Managing and retaining such a dynamic team requires a nimble, flexible approach.
This article explores seven strategies that can keep a multi-generational workforce not just engaged—but motivated and performing at the highest levels.
1. Provide flexibility
For all the handwringing about return-to-office, the most success seems to come with one simple offer: flexibility. From employees juggling caregiving responsibilities—whether for young children or aging parents—to those who need a strong work-life balance, flexibility means different things across generations. Empower your teams to structure their workdays to fit their lives.
To even the playing field, some organizations have implemented a “four-ten work week” (four, ten-hour days) if that better suits an employee’s needs. (It costs companies nothing to implement this working arrangement.)
2. Encourage employees to say ‘yes’
Giving employees the confidence to build out an idea is one of the best ways to keep them. This includes exploring of a new way of working, service offering, or method of conducting research. Encouraging a “yes” culture broadens our team’s horizons and offers a strong safety net. It’s something I learned early in my own career, and the wisdom of that experience plays out every day, whether it’s feeling confident enough to brainstorm something new with a client or learning how to adapt to the many working styles in a client service business. Every exploration yields some key learning and allows employees feel supported to innovate.
3. Keep an open-door policy
Open communication is crucial, especially in a multi-generational workplace. Transparency builds trust, particularly in teams. At my company, employees know that I maintain an open-door policy, but they are also expected to bring at least one or two potential solutions to any problem they raise. This approach not only empowers them to take ownership of challenges, but also encourages accountability.
4. Cultivate creativity
Encourage your employees to find outlets outside of work that inspire and rejuvenate them fully —whether that’s art, reading, or spending time outdoors. When employees are encouraged to recharge and feed their creative spirit, they return to work ready to tackle challenges with a fresh perspective.
5. Ensure equal pay
Be sure to regularly review compensation to ensure that your staff is paid based on industry standards, experience, and contributions. While personal responsibility and self-education when negotiating one’s worth are important, it’s equally important for leaders to take a role in this as not all employees come to the workplace with experience, mentorship, or confidence to fully navigate this part of the working world. Ensure that your employees feel whole and valued. In turn, this will attract more of the best and brightest.
6. Hire from everywhere
What’s important isn’t where employees live—it’s their enthusiasm for solving challenges, their passion for our client’s needs, and contributing to our company culture. Consider candidates and employees from different fields of study, backgrounds and life paths. Ultimately, the best talent you have is the one ready to make a difference, not the one with the perfect resume.
7. Leverage your network
Throughout my career, I’ve relied heavily on my network—whether I’m in a pinch to fill a role, brainstorming solutions to a client challenge, or navigating a new issue. I encourage all my employees to cultivate strong professional networks. Mentors, peers, and industry contacts are some of the most valuable tools we have as professionals but so are trusted friends, former teachers, and business partners.
Nurture an environment in which employees are encouraged to seek out relationships to support them in their roles and help them grow inside and outside of work. Staying current and knowledgeable on where people are, keeping tabs on great talent that you’d love to hire or work with one day—these are all critical parts of the day-to-day job, too.
Retaining and engaging a multi-generational workforce is not easy, but it’s one of the most rewarding challenges a leader can tackle. Each generation brings unique strengths, as well as how they leverage one another’s styles. As the workforce and work norms continue to evolve, leaders who prioritize this respect, adaptability, and open communication will see the benefits in both talent retention and overall company success.
Connect with an Old National Small Business Banker for more insights to help your business grow.
This article was written by Beth Maser from Inc. and was legally licensed through the DiveMarketplace by Industry Dive. Please direct all licensing questions to legal@industrydive.com.
