| The aging of the nation's population coupled with the recent down-turn in the U.S. economy and technological advancements has worked to facilitate an evolving domestic workforce. The unease resulting from this economic angst has forced many of today's older employees to defer their retirement and continue to work well into their 70s. This transition in retirement strategy has altered the dynamics of today's workforce demographics, as for the first time in history five (5) generations of employees are now active in the U.S. labor market. The purpose of this study is to better understand the intergenerational differences that exist in today's workforce to assist organizational leaders in developing a managerial strategy effective across all generational cohorts. A review of the technological impact, economic implications, and characteristics and motivators of the generational cohorts was conducted in relation to this academic study. Furthermore, this paper presents a topical approach to identifying a managerial strategy that organizations can implement to assist them in effectively managing their multigenerational workforces. |
