Aging Populations & Generational Diversity


Aging Populations & Generational Diversity


 

Both the world and the U.S. populations are aging, and generational diversity within organizations is increasing.

 

 

1 in 5 Americans will be > 65 Years Old by 2030

The U.S. Census Bureau projects that by 2030 one in five Americans will be 65 years and over. The Population Reference Bureau explores some of the social and economic implications of this shift in their 2011 Population Bulletin.

Phased Retirement

Relatedly, an article on the case for phased retirement published by Wharton business school in their online business analysis journal, Knowledge@Wharton, highlights how a growing number of people are remaining in the workforce past traditional retirement age. 

Current Workforce Spans 4 Generations

A Forbes Insight survey of over 300 senior executives on fostering innovation through a diverse workforce highlights age as one of the top concerns among respondents. Forbes notes how the current workforce spans four generations: Silent Generation, Baby Boomers, Generation X, and Millennials, pointing to how each generation is different in terms of how they relate to each other and navigate organizational structures.

Forbes notes that these differences, if not well-managed, can generate unproductive workplace conflict.
 

 

 

Reference:

Forbes Insights, Global Diversity and Inclusion: Fostering Innovation through a Diverse Workforce, July 2011.

Jacobsen, Linda A., Mary Kent, Marlene Lee, & Mark Mather, America's Aging Population, Population Reference Bureau, Population Bulletin, Vol. 66, No. 1, Feb. 2011.

Knowledge@Wharton, The Case for Phased Retirement, Wharton School of the University of Pennsylvania, Nov. 1, 2016 (digital article).

U.S. Census Bureau, U.S. Census Bureau Projections Show a Slower Growing, Older, More Diverse Nation a Half Century from Now, Dec. 12, 2012 (digital article).