Importance Of Generational Theory In The Workplace

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Introduction- Generational Theory is a theory of social history that describes and explains changes in public attitudes over time. Generation is defined as people that are grouped within a certain range of ages, location they live, and significant life events they experienced at critical developmental stages. Generational shift is playing a major role in shaping the future of the workplace. Skilled and talented young employees have more employment choices and consequently gaining a deep understanding of their values, attitudes, and behaviors. The most common factors that drive young knowledge workers to leave for another job are: more challenging work, better location, better working relationship with their supervisors, and higher salary. Today’s multi-generational workforce is occupied by four distinct generations: the Veterans, the Boomers, Generation Xers, and Generation Yers . As the Boomers continue to mature, retire, seek self-employment, and enter into business ventures, the Generation X and Generation Y workers will make up the workforce of the future (Cambron, 2001; Loughlin & Barling, 2001).
Consequently, there is an imminent need for more innovative and effective leadership skills, as well as strong human resources policies to not only recruit, but also retain the newest generation as well as engage the multi-dynamic workforce. Recognizing and understanding generational differences and the need for effective talent management are critical to the success of
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