Managing an intergenerational workforce as a factor of company competitiveness
|Title:||Managing an intergenerational workforce as a factor of company competitiveness|
Vol. 7, No 1, 2014
Published date: 20-05-2014 (print) / 20-05-2014 (online)
Journal of International Studies
ISSN: 2071-8330, eISSN: 2306-3483
|Keywords:||competitive advantage, labour management, generational diversity and cooperation, companies|
The purpose of this paper is to present the concept of intergenerational cooperation which, in the face of current demographic changes, including the aging population, can provide support for modern business. The concept presented here emphasizes the need to develop intergenerational cooperation in order to keep improving company competitiveness through dispelling myths about the destructive influence that the youngest generation entering the labour market supposedly has on cooperation. The scientific literature on the subject provides many ambiguous definitions of competitiveness, which usually fail to determine the factors necessary to achieve it and, instead, often resort to making comparisons between companies. This vagueness comes from a diversity of approaches to de ning the sources of competitive advantage. A review of literature and research conducted among business executives by the authors of this paper allow us to dispel the myths that often lead to discrimination against Generation Y members in the labour market. The study also outlines several areas in which generational diversity management may bring benefits, as well as its impact on building a competitive edge in the following fields: costs, resources, marketing, system organization, creation and communication. This enables to build core competencies in new areas, especially by focusing on the learning process, which results in the acquisition of new knowledge and skills by employees, improving existing skill and knowledge levels, as well as introducing the principle of knowledge management. As a result, better conditions for the development of resources and new ways of their configuration are provided which, in turn, serves as a basis for the creation and development of core competences in the company.