Generational Shift and Human Resource Management

Figure 1- Human Resource Management (Post, 2017)

There are many generations has been identified in the modern world. Tulgan (2018) stated that only four types of generations are involed in employment. Such as baby boomers, Generation X, Xennials and millennial (Generation Y).Which means with the time passes, in today there is a trend of in one end workforce is aging and in other end getting younger. It can be evaluated that there is a gap wide upping in between aging and younger population and as prime age workforce is shrinking, it has become a contemporary issue in today HRM for retaining aging people and searching talented well well experienced people among youngers. 

Figure 2-Generations (Robinson, 2018)

Coon (2017) research done among USA multinational companies has identified, Baby Boomers are about to be retired and Generation X and Y steps into upper level management and according to a research done by Allen (2004) among Canada workforce, it has been highlighted that, after economic crisis, youth hiring percentage is increasing much faster than recent years. It identified that companies lost their knowledge as there knowledge is not formalized or written down with the retirement of aging people and it is about to be increased in future and world is now in the palm of millennial.

Behrens (2009) research done among selected USA young employees has identified, young generations tend to leave office on off-time without staying overtime or work in weekends by comparing for old generation employees. It can be identified that, Generation X and Y tend to be more concerened on what the company can do for their family and friends rather than the company loyalty. This is a great challenge for HR department for getting the maximum output out of them via transforming core dynamics of workplace, as their behaviors and mindsets cross the functions each other. 

Cheese (2009) stated, still 30% of people form total work force is baby boomers and still exit in workforce. In order to get the maximum contribution out of Generation X and Y by allowing youngers to thrive in an environment that designed to ensure successive, HR department will have to transferring knowledge and ethics for young generation from older generation via mentoring and consistent training, which is wisdom transfer” and work life balancing programmes, which will lead HRM to be a cost center, though goal is to be a profit center. 

References

Allen. P. (2004). Welcoming Y. Benefits Canada , PP-51-53.

Behrens. W. (2009). Managing millennials. Marketing Health Services , PP-19-21.

Cheese. P. (2009). The ABC of Generation Y. Director , PP-33.

Coon, F. (2017). The Generational Shift. Fred's Megaphone , PP-10-18.

Post, J. (2017). 4 Ways Human Resources Will Change in 2018. Accessed by: Business News Daily: https://www.businessnewsdaily.com/9383-future-of-hr.html. Accesed on 1st July 2018 at 9.34pm.

Robinson. M. T. (2018). The Generations. Career Testing , PP-5-9.

Tulgan. B. (2018). The Great Generational Shift: How Employers and Managers Can Prepare. Everwise , PP-6-9.