HRM and organizational performance at workplaces with multigenerational workforce

Márkus-Tamás Zsolt (2017) HRM and organizational performance at workplaces with multigenerational workforce. In: Multidisciplinary challenges and the approaches to meeting them (Multidiszciplináris kihívások, sokszínű válaszok). Budapesti Gazdasági Egyetem (Budapest Business School, Faculty of Commerce, Catering and Tourism, Department of Economics), Budapest, pp. 21-33. ISBN 978-615-5607-31-8

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Abstract

In an ever-changing world with greater pressures being placed on people management professionals, the need to become faster, fitter and more flexible to meet the needs of our organizations has never been more pronounced. (Bakacsi et al., 2013) Alongside this managing multi-generational workforce has become a contemporary issue in human resource management. More so, with competition for talent on the rise, developing a corporate culture of employee engagement and commitment has become a foundational imperative for most organizations. Multigenerational workplaces has to deal with distinct age groups with differences in terms of motivations, working styles, communication patterns and technological preferences working together towards achieving the goals and objectives. The responsibility of HR becomes more and more strategic to ensure the continuity in the strategy execution on any level of the organization. (Bersin by Deloitte, 2015) Among others in the public sector leaders face a growing challenge to source efficiently, keep up with the free market within the compensation system, foster knowledge management and make sure the organizations’ capability to further innovate. This paper does not look for an ultimate solution or aims to standardize or even increase conformity. It shows elements of the HR-toolbox globally operating companies across industries use and is more to open up a discussion around the incompatibility and harmony of people´s expectations, material world and value-based leadership. The study explores the current trends and challenges around the generational diversity at the workplace and tries to establish a linkage to the toolbox of talent management in order to provide possible solution scenarios based on practical experience.