Business needs to do more to prepare for 4G future

While British business recognizes the benefits of age diversity, it must do more to prepare for a ‘4G’ future, warns new research from the CIPD.

The professional body for HR and people development says that while the UKCES' vision of a ‘4G’ future - where employees from four generations will work side by side for the first time in history - is welcomed, businesses will be at a competitive disadvantage unless they start planning for the changes now.

CIPD's research, 'Managing an age-diverse workforce', reveals that many businesses are ill prepared to capitalise on the opportunities that an age diverse workforce can bring. Nearly a third of employers say that they react to issues relating to the ageing population as they arise rather than having a strategy in place.

Nearly half (46%) of employers said that line managers are not trained in managing teams of different generations and that their organisation has no plans to change this.

Claire McCartney, Research Adviser at the CIPD, said: "Despite well-publicised skills shortages and low productivity, our research shows that businesses are not doing enough to recruit from an increasingly age diverse talent pool. And even amongst those companies that are, many simply aren't equipped to manage their age diverse teams in order to maximise their potential.

"We know that the multi-generational workplace is on the horizon, and businesses need to act now if they want to be prepared."