Many companies who restructure focus on hiring the younger generation under the false assumption that having only young workers will re-energize the company. Actually, if a company hires both older and younger workers, you get the benefit of the corporate memory, business intuition, business experience of the older generation as well as the latest trends, and technological know how of the younger generation. The more perspectives a company has the more successful a company will be.
Laying off older workers in favor of younger workers will also not benefit the company. In fact, having a multi-generational workforce adds multiple perspectives to any project. The older generation will know the older generation niche to sell products while the younger generation will know the younger niche to sell products and you need both to be successful. Here are some other benefits of not laying off older workers and not just hiring younger workers in the work force:
1. Older workers provide younger workers with corporate memory of the company. In other words, an older worker can tell the younger worker the history of a work project, the ups and downs of the project, and provide historical context to the company.
2. Having multiple generations in a workplace provides opportunities for more multiple perspectives as each generation has different opinions/perspectives/solutions to the same problem/project.
3. The older generation can teach the younger generation how they solved problems in the past and the younger generation can teach the older generation about the latest trends. So each generation can learn from the other.
4. Having many generations in one office forces both generations to learn to get along with each other. Older workers learn to respect younger workers and younger workers learn to respect older workers. These communication skills can be transferred from job to job.
5.The older generation can act as role models for the younger generation on how things are traditionally done and the younger generation can teach the older generation about technology.
6. Younger workers learn to get along with older bosses and also, older workers learn to get along with younger bosses. Each side learns to be patient with the other.
7. Older workers appreciate still being on the job especially if older workers are allowed to stay until retirement and then older workers feel rewarded for their loyalty to the company increasing older worker productivity.
8. Younger workers learn that they too will be awarded for their loyalty to the company so that when they too reach retirement age, they are still with the company so that will increase worker productivity.
9. An inter-generational workforce also fosters a sense of community and family within the company as all members of the company care and watch each other's backs which means less competition between workers and more cooperation between workers.
10. Fight against ageism by employing employees of all ages! Each generation brings unique talents to the table. The older generation can contribute their years long experience in growing a company, give hints on how to develop business intuition while the younger generation brings their technical know how as Digital Natives to the table. When you combine both, you have a vibrant school culture and/or a vibrant business culture.
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