Strategic Human Resources and Human Capital Development: Strategies for Managing the 21st Century Workforce (Report)

Introduction Organizations today, large or small, public or private, profit or not-for-profit, are faced with the daunting task of managing a "multi-generational" pool of employees. The various generations: Baby Boomers, Baby Busters, Generation X & Y all have differing and competing interests, needs and expectations that are placing a demand on organizations to embrace, cultivate and incorporate these needs within the organizational structure. Moreover, despite the real or perceived strengths that each group brings to the organization, the realities of the marketplace are placing a demand on the organizations as well (economic instability, downsizing, rightsizing, global competition, privatization, rapid technological advancements) to quickly find solutions and insure a competent workforce is in place and prepared to meet these challenges. These realities have caused management to rethink and ultimately abandon the traditional "one size fits all approach" to management in search of more creative, balanced and flexible strategies to manage the new/emerging populations.