Tomorrow’s workforce changed yesterday – now what for businesses that want to be future-ready?

Five generations are currently working together for the first time ever, making multigenerational workforces key to the future of work. Image: iStockphoto/Rawpixel
- Five generations are currently working together for the first time ever, making multigenerational workforces key to the future of work.
- Generation Z, in particular, is driving innovation and so meeting the full potential of tech-enabled business transformation will largely depend on this cohort.
- But each generation brings a unique set of experiences to the workplace and future-ready businesses must support all of these viewpoints by promoting collaboration, upskilling and people-centred change.
The workplace is transforming at breakneck speed, fueled by technology’s relentless pace and evolving workforce expectations. Add to that backdrop the wider geopolitical disruption and economic instability we are currently experiencing and you arrive at today’s zeitgeist: An era of perma-change.
Leading an engaged, innovative and resilient workforce today means knowing who they are, what they need and how they work together – and that is changing fast. Understanding your business’s future means understanding the people that are driving it.
What’s in a generation?
The workforce in advanced countries is contracting fast. In Europe, it is projected to be 25% smaller in two decades’ time, while in the US, Generation Z has three million fewer people than Millennials. Generation Alpha is expected to be smaller still.
By 2034, 80% of the workforce in advanced economies will comprise Millennials, Gen Z and the first Gen Alphas to become adults. In this landscape of shrinking talent, multigenerational workforces are key to our future. Demographic shifts at work aren’t new; leaders have always had to strike a balance between welcoming fresh, young talent and nurturing experienced professionals.
For the first time in history, five generations – each with unique technological and formative experiences – are currently working side-by-side. But the age spread of today’s workforce has never been wider, while the experiences characterizing each generation have never been so different. Think of the paper-record environment of anyone entering the workforce before 1990 – this would be unrecognizable to a Gen Z who has grown up with the internet in the palm of their hands.

It is precisely this breadth of diversity that offers leaders new opportunities for innovation and growth.
How is Gen Z driving workplace change?
Every generation brings something distinctive into the workplace, but none is getting as much attention as Gen Z, and for good reason. Gen Z is like a gravitational force pulling all other generations into its orbit. We are very aware of this at the EY organization, where 127,000 EY people – nearly a third of the entire workforce – are from Gen Z. That number has tripled in three years and today the median age of the EY workforce is 30.
Gen Z values – community, a global mindset, access not ownership, the side hustle, authenticity over polish – are driving workplace culture across generations. They learn new technologies quickly and draw on massive amounts of data and information in a way that was inconceivable to prior generations. Their experiences outside the workplace are also spilling into shifting workplace demands. For example, Gen Z expects tech tools at work to match the ease of use of social media apps.
Employees from Gen Z are also more likely to move on. In the 2024 EY Work Reimagined Survey, 38% of respondents say they’re likely to quit their jobs in the next year – a 4 percentage-point increase on last year's survey and a dynamic driven largely by Gen Z. Keeping this generation at work is important to driving innovation and signalling new ideas and new methods that help us see what the future may look like. The full potential of business transformation will depend to a great extent on Gen Z.
What can leaders do now to understand future business needs?
Leaders can start with three essential actions to address the evolving needs of the workforce and benefit from the rich diversity this moment in time offers:
1. Encourage multigenerational collaboration
While there is considerable focus on the needs of the younger generation, each generation brings unique experiences, and their combined knowledge can spark innovative solutions. With talent pools shrinking, and people staying at work longer, collaborating across generations is essential.
This means intentionally creating multi-generational teams, breaking down hierarchies, letting go of biased generational stereotypes and accepting that each generation brings new ways of thinking. Knowing what each generation needs may involve establishing a consultative next generation or shadow board to provide fresh perspectives on engaging your workforce and addressing what matters most.
Generational divides can emerge as barriers, but leaders that can help the workforce cross these divides will benefit from a unique opportunity to foster innovation and build resilience.
2. Get upskilling right
The need for upskilling has never been more critical as rapid advancements in artificial intelligence (AI) and automation continue to redefine job roles.
While Gen Z remains optimistic about AI’s potential, new research shows they can sometimes overestimate their proficiency. At the same time, Gen X and Millennial employees may view AI in another light entirely and require personalized training that speaks to their experience with technology.
To bridge these gaps, leaders need to prioritize continuous learning by offering personalized training that not only addresses knowledge disparities but also aligns with the different ways people acquire new skills.
3. Put people at the centre in technology-driven times
We can’t forget that the Intelligent Age is as much a human age as any transformation we’ve experienced in the past. Tech and human capabilities may become increasingly integrated, but as they do, the need for empathy, ethics and critical problem-solving will only increase – and that’s what humans bring.
In a world of perma-change, powered by AI, organizations that harness the nuances of every generation and champion meaningful connection will lead the way and build the new structural and organizational models we all need to thrive in our brave new world.
The views discussed in this article are the author's and do not necessarily reflect the views of the global EY organization or its member firms.
Don't miss any update on this topic
Create a free account and access your personalized content collection with our latest publications and analyses.
License and Republishing
World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use.
The views expressed in this article are those of the author alone and not the World Economic Forum.
Stay up to date:
Future of Work
Forum Stories newsletter
Bringing you weekly curated insights and analysis on the global issues that matter.
More on Jobs and the Future of WorkSee all
Nada AlSaeed
February 4, 2025