It turns out that for the first time in history, five generations make up the modern workforce.

This fact popped out as one of the more interesting lessons from the “Meet the Millennials” event Wednesday afternoon hosted by Arthur J. Gallagher & Co., a West Des Moines insurance, risk management and consulting firm.

The generations consist of the following (in case you are looking around your office and wondering who fits what age grouping):

• The Builders Generation, age 71 and older.
  
• Baby boomers, ages 53-70.
  
• Generation X, ages 37-52.
  
• Generation Y, ages 22-36.
  
• Generation Z, ages 7-21.
  

The event focused on millennials, as they are on track to make up 1 out of 3 American adults by 2020. Gallagher’s Jay Jodlowski, an employee benefits strategist and a self-described “grandpa of the millennials” at age 36, offered an overview of who makes up this age group and traits that employers should take note of, including: 

• Desire for teamwork.
  
• Multitasking ability.
  
• Tech-savviness.
  
• Multicultural viewpoint.
  
• Motivation by goals.
  

Other takeaways: Millennials carry staggering student loan debt, and companies are looking at debt repayment as a benefit over contributing to a 401(k). Also, a Harvard University study found that millennials will have four jobs by age 32.

The presentation even mentioned the youngest of potential workers out there — Generation Alpha, ages up to 7.