Multi-generational Workforce and its Implication for Talent Retention Strategies

Edyta Kostanek, Violetta Khoreva

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

Talent recruitment and retention research has traditionally looked at such characteristics as age, gender, ethnicity, tenure, and more. There is however an increasing demand to add multigenerational diversity to this list. The current multi-generational workforce of Silent Generation, Baby Boomers, Generation X, and the Millennials generates a need for organizations to manage a highly diverse set of employees whose work habits and expectations vary widely. A generic approach to attracting and managing this multi-generational type of workforce is unlikely to work, mostly due to markedly distinct needs and wants by each generation. To keep up with multi-generational workforce, organizations need to respond to these varying needs and develop innovative ways to attract, manage, and retain talents. This chapter will give insight into the most effective talent management and retention practices per each generation and contextualize them in relation to stability of work environments.
Original languageEnglish
Title of host publicationPsychology of Retention
Subtitle of host publicationTheory, Research and Practice
EditorsMelinde Coetzee, Ingrid L. Potgieter, Nadia Ferreira
PublisherSpringer International Publishing
Chapter10
Pages203-221
Number of pages19
ISBN (Electronic)978-3-319-98920-4
ISBN (Print)978-3-319-98919-8
DOIs
Publication statusPublished - 8 Dec 2018

Keywords

  • Talent Management
  • Talent retention
  • Generational cohorts
  • Silent Generation
  • Baby Boomers
  • Generation X
  • Millennials

ASJC Scopus subject areas

  • Organizational Behavior and Human Resource Management

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  • Cite this

    Kostanek, E., & Khoreva, V. (2018). Multi-generational Workforce and its Implication for Talent Retention Strategies. In M. Coetzee, I. L. Potgieter, & N. Ferreira (Eds.), Psychology of Retention: Theory, Research and Practice (pp. 203-221). Springer International Publishing. https://doi.org/10.1007/978-3-319-98920-4