Generational Differences Between Baby Boomers and Millennials and the Impacts on Hr

3565 Words Mar 7th, 2012 15 Pages
Generational Differences Between Baby Boomers and Millennials and The Impacts on HR

Kimberly Senkler
September 14, 2010
Human Resource Management BA 421 KP Normally we tend to think of diversity in relation to age, race, gender and religion. These days there is more focus being given to diversity in the form of generational differences.
While the other factors in diversity (age, race, gender and religion) tend to lead to legal issues, generational diversity is generally more of a performance issue. Generations can be loosely defined as bodies of individuals born and living at about the same time. “Each generation is molded by distinctive experiences during their critical developmental periods” (Twenge, 2008). The
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Millennials tend to be technologically advanced and eager to learn. They also value social responsibility and team-work. They are often seen as impatient and quick to express opinions without having all of the data. Millennials are quick to jump-ship if they do not feel if they are progressing fast enough, often at speeds that might be seen as unreasonable. Dayan (2005) says that about 5.6 million Millennials are about to enter the employment market. Millennials are said to be the most challenging generation for employers. Attracting Boomers and Millennials “The number of employees over the age of 55 has increased by 30 percent; however, the number of 25- to 54-year-olds has only increased by 1 percent” (Claire, 2009). In 2008 the eldest of the 77 million baby-boomers turned 62. Estimates are that by the end of the decade about 40 percent of the work force will be eligible to retire. As people begin to reach the age of retirement there may be not be enough new employees to fill the gap (Clare, 2009). Companies need to find ways to attract Boomers and Millennials. Companies that want to attract Boomers and Millennials need to be creative in their culture, HR policies and work environments. According to the U.S. Census Bureau the number of people 65 and older will possibly double by the year 2030. According to Yager (2008) forecasts are showing that the United States could reach a labor shortage by 2030. As
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