Management: Managing The Intergenerational Workforce Essay

2068 words - 8 pages

Page 3The ageing of the populationPage 3Implications on the workforcePage 3Women in the workforcePage 4Managerial control - Generation X and Generation YPage 5Managerial control - Baby BoomersPage 6Structural reform in the workplacePage 7SummaryPage 8BibliographyThe ageing of the populationThere can be no denying that Australia and indeed the world have an ageing population. This can be attributed to a number of factors. There are falling death rates and rising life expectancy rates. Access Economics (2006) There is a falling fertility rate; currently the rate is 1.2%, below replacement level. This rate is set to decline to .85% by 2016. Jorgensen, B ( 2004, Pg 3) The future workforce entry figures are staggering, currently there are 170,000 new entrants to the workforce each year, due to our ageing population by the year 2020 and for the decade following, the number of new entrants will fall to 125,000 per annum. Jorgensen, B (2004)Implications on the workforceAustralian organisations must confront and accept the ageing population and the significant consequences that will come with not planning to competitively attract and retain a declining number of available workers. To compete effectively for valuable staff management must acknowledge the importance of women in the workforce and accommodate flexible work practices to attract and retain the female workforce. Management must also implement new managerial roles and lifelong learning that can be effectively tailored to meet the needs of the new intergenerational workforce, specifically Generation X and Y, and the baby boomers. There must also be structural reform to work participation.Women in the workplaceWomen play an increasingly important role in the work force; there are currently more women in the workforce than ever before. Jamieson, D and O'Mara J (1991 Pg 54) More women than men currently have year 12 and tertiary qualifications, Access Economics (2006), and therefore management must compete effectively for the productivity gains of women.Management must accept the equality of men and women in terms of participation, education, skills, knowledge and productivity. To compete successfully in attracting and retaining the female workforce management must plan for and adopt work practices that accommodate work / life balance and are flexible enough to be tailored to individual needs. These work practices must incorporate items such as maternity and care leave, and structural changes in work participation such as flexible hours, part time work, casual work, job sharing, and work from home. If management fails to adopt these strategies on an individual basis they will minimise the available talent pool from which they can draw upon. Women must also be offered equal opportunities in lifelong learning as discussed below.Managerial control - Generation X and YNew forms of managerial control must be implemented to meet the needs of the new intergenerational workforce. Baby boomers desired job...

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