Does multigenerational workforce reshape the human resources agenda in the Lebanese banking sector?

Abstract

The aim of this mixed methods research was to investigate the way HR managers deal with the dynamics of managing talent in a multigenerational workforce within the banking sector in Lebanon with focus on Baby Boomers and Millennials. A parallel mixed methods research guided by a pragmatic philosophy and data collected through a self-administered online questionnaire completed by 246 Lebanese bank employees and semi-structured interviews with nine HR managers (N= 9) of Top 10 Lebanese banks was performed. The research featured convenience and snowball sampling for the quantitative phase and purposive sampling for the qualitative phase. The findings showed that multigenerational workforces affected HR practices of preparing and managing work schedules, more resources for investing in the workforces, and changing the roles of HR managers into becoming more available to the workforce more than the organization itself. Secondly, the findings also showed that the motivating factors of Baby Boomers were not significantly different in terms of management practices, salary, job satisfaction, reputation, and job security, as constructs. However, Baby Boomers were more - motivated by lifelong employment than Millennials. Finally, HR managers in Lebanese banks were still struggling with the issues of retaining and motivating a multigenerational workforce and especially the Millennials.