Today’s workforce is the most age-diverse ever. Our new White Paper, developed with Boston Consulting Group, explores ways to leverage the unique potential of cross-generational collaboration.

In light of the demographic transformation of many industrialised and emerging economies, today’s workforce is the most age diverse ever. In today’s multigenerational workforce, at least four generations work side by side, confronting organisations in the public and private sector with unique challenges and opportunities.

Proactive efforts to build and sustain effective cross-generational teams can help unlock the unique benefits of this age-diverse workforce, which include more holistic decision-making, greater creativity and higher employee satisfaction, and, ultimately, increased productivity and organisational performance. As the share of the OECD’s population aged 50 and over is expected to rise from 37% in 2020 to 45% in 2050, designing an inclusive work environment for all generations will be key to creating a human-centred future of work and sustaining economic progress.

A Marked Gap Between Aspiration and Reality

However, we seem to know little about how to embrace and leverage the power of age diversity in an organisation. While key components of the diversity agenda such as race, gender and sexual orientation have moved front and centre in organisational change efforts, the key role of age diversity is often overlooked.

Indeed, we see a marked gap between aspirations and actual practice: In a recent survey, 83% of employers agreed that a multigenerational workforce is key to growth and success, but less than 10% currently have programmes and policies in place that support a multigenerational workforce.

Actionable Ways to Unlock the Power of Cross-Generational Teams

Age diversity calls for targeted approaches, keeping in mind specific needs and aspirations of each generation. Building on a review of a growing research field, this joint White Paper of SGS and BCG outlines the key challenges and promising measures of a multigenerational workforce. To enable organisational leaders, we build on interviews with front runners and academic experts to shine a light on emerging tools and instruments that are key to combining the talents and unique outlook of all generations and unlock the power of cross-generational teams. In particular, we offer actionable recommendations for ways to listen to and learn from the next generation, leverage experienced talent and create a cross-generational community within the organisation.

Download the White Paper

Read and download the full White Paper here for all insights and actionable recommendations on how to unlock the power of cross-generational teams.

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St. Gallen Symposium, Boston Consulting Group