Each generation plays a vital role in the arc of history

Members of a generation are shaped by their time in history as they grow from children to adults. Shared events (war, cultural and political upheavals,  and economic trends of that time) create shared beliefs and behaviors. Your own location in history has been instrumental in forming your belief systems  in areas such as family life, general attitudes, trust in civic institutions, cultural values—and so has everyone else's. When we recognize how deeply we've been influenced by our generational perceptions, we gain new perspective on the values and attitudes of other people, who are also largely a product of their own time as well.
MILLENNIALS
The Millennials are more concerned with career security than job security. Because they tend to stay at each job for relatively short periods, it is critical to get them integrated into your organization and productive as quickly as possible. Management procedures designed for lifetime employees don't make sense to use with Millennials, and successful companies will need to create an entirely different approach to managing them.    
BOOMERS
With the last recession still fresh in their minds, it’s natural that Boomers, nearing the end of their careers, aren't interested in taking on the massive project of wholesale organizational change, and instead are focused on getting across the finish line with their legacy intact. These outgoing leaders have insight, perspective and tremendous embedded knowledge of the decisions that got us all to today. Their role will be increasingly to steady the ship  while stepping back from the helm and allowing revitalizing change to happen. 
GENERATION X
GenX is poised to become very valuable, very quickly—particularly given the dramatically smaller size of their generation compared with the Boomers. Talented, motivated and insightful GenX executives and managers will soon be transitioning into leadership roles at companies of all sizes if they haven't already. As highly-trained managers of Millennials, GenX will maximize both their own value and that of the larger company. Wise companies will invest in GenX leaders and increasingly place them in positions of importance and strategic influence or risk losing them to competitors who, facing the same generational transitions, offer more attractive alternatives.