Multigenerational workforces drive print innovation
Forward-thinking commercial print companies are embracing innovation. It unlocks new opportunities, improves processes, and can reduce costs. But which people do you require in your print business to spot and unlock opportunities?
Whether you work in print, finance, or healthcare, one everyday theme runs across all successful businesses—the need for a multigenerational workforce. From 'Baby Boomers' to 'Gen Z', the workforce has a more diverse age range than ever before. With that can come complications but also opportunities through innovation. Industries like commercial print, which has been around for decades, must learn how to harness the multigenerational workforce.
A team of individuals working in commercial print for 20-30 years will have a wealth of experience and knowledge, used to working in a certain way. In comparison, a younger team may spot opportunities for innovation but need more know-how to execute them. At Ricoh, we believe that commercial print companies that combine the combined power of a generationally mixed workforce will have the most robust foundation for a successful future.
Innovation from both Baby Boomers to Gen Z
In most companies, the generations are made up of Baby Boomers (born 1946-1964), Generation X (born 1965-1980), Generation Y (born after 1980), also known as Millennials, and Generation Z (born after 1990).
Different generations have faced unique economic and social challenges. While some older individuals experienced periods of scarcity, many benefited from economic booms and opportunities. Today's younger generation is dealing with complex issues, including income inequality, rising costs of living, and environmental concerns, many of which have roots in decisions made by previous generations.
Between the two, millennials also influence the business landscape. Their technological fluency, entrepreneurial spirit, and emphasis on social responsibility contribute to changes in how businesses operate and engage with consumers.
Success in this evolving environment often comes from collaboration across generations, using diverse strengths to address complex challenges and foster innovation. So it's crucial to recognise that each generation's experiences are diverse and shaped by a multitude of factors, rather than making broad generalisations about entire age groups.
Yet the Millennials are changing the face of business, and in many cases, for the better. A 2015 study by Deloitte found that millennials will make up more than 50% of the workforce by 2025. They are the most educated, ambitious, and technologically savvy generation. The secret to success is when multiple generations work together, and through combined innovation, they can solve challenges.
Uniting generational expertise in innovation
A study of 300 global companies by Forbes Insights showed that a generationally diverse workforce helps drive innovation. Commercial print managers are slightly older and have a traditional printing background, including detailed knowledge of machine capabilities, applications, and colour. Younger people have grown up in a world where technology is seen as the answer to most challenges. Therefore, they are typically more digitally native. Bringing the experts in commercial print and digital natives together provides a fresh perspective, helping to identify and deliver new commercial print innovations and solutions to the market.
Multigenerational skillsets working together are where the future of commercial print is heading. A cross-generational team which promotes the seamless blending of traditional print mediums with modern processes and best practices for true innovation.
Embracing innovation in commercial print
It is clear how much opportunity still exists for innovation in commercial print. You only have to look at the rapid rise of 3D printing, which uses the same heads as inkjets but with a different medium. Chuck Hull, one of the inventors of 3D printing systems, took print technology and reimagined it to create a whole new sector.
In reality, creativity varies from individual to individual, but plenty of things within the business can be done. These include fostering innovation and creativity by providing diverse training opportunities. There is a higher chance of creating various ideas by offering different training options. A clear leadership strategy that reaches team members from different age groups will positively influence creativity and innovation. In addition, running innovation competitions that see teams from diverse age groups will also bring to life new ideas.
The power of generational differences in commercial print
Creativity and idea generation revolve around solving novel problems, so having employees with diverse backgrounds creates a broader pool of ideas. These, in turn, can open opportunities for new revenue streams, better commercial print processes and technological advances.
Commercial print is one of the longest-serving industries globally and has seen many changes. Embracing generational differences is the next iteration of this evolution. It will enable the print industry to continue making strides in innovation and profitability.
Listen to our podcast series and discover more about a multigenerational workforce's opportunities and business benefits.
Alternatively, feel free to contact me if you would like to learn more.
