Multi - generational motivators | One size doesn't fit all

One size doesn’t fit all

In Recognition and Engagement, Retention by Lori McKnight

Recognize Demographic Differences

How to engage a multi-generational workforce

While it’s important not to stereotype based on demographics, research is showing “one size fits all” policies don’t fit multi-generational workplaces. Age, era, recognition preferences and expectations need to be considered in designing effective recognition strategies that enhance your employee experience (EX).

A simple understanding of generational differences can go a long way to creating more harmony in the workplace. Here are a few highlights from a recent webinar we hosted on this subject.

Generational Differences

Technology has created an era of personalization never before experienced. Traditional status quo policies don’t necessarily resonate with a multigenerational workforce. Here are some common characteristics to consider when re-evaluating your recognition and rewards programs.

Baby Boomers are winding down so…

  • Retirement benefits are very attractive
  • Flexibility over their schedule will keep them with you longer
  • Public recognition of their expertise and experience is appreciated
  • Identify employees with “deep smarts” and encourage job shadowing, mentoring and reverse mentoring to transfer their knowledge. This also instils a sense of pride and purpose that will aid in retention

Gen Xers are looking for:

  • A competitive salary and benefits – 55% of GenXers say they are behind on their retirement savings
  • Training. Two in three Gen Xers say their employers don’t provide people management or technology training
  • Respect – this generation feels overlooked and is the most under-engaged. Public recognition and respect for their experience will help this sandwich generation feel valued

Millennials want…

  • People to care about them as people and professionals. Work-life integration is critical to engaging and retaining this generation
  • Regular recognition. Social media has created a HUGE need for recognition with this demographic. Millennials are used to regular feedback and coaching – it fuels them, personally and professionally
  • Linear and non-linear career paths. Millennials want mentors who micro-manage their careers, not necessarily their jobs

Gen Zers are more conservative than you might think. They value…

  • Job Stability. This translates into skills training. Having in-demand skills is this generation’s #1 asset and ticket to job security
  • Competitive salaries. Loan repayment perks are also great incentives
  • Technology. Even more than Millennials, this generation will demand their employers use technology. They will not fill out manual forms.

These are just the highlights. For more context and research, book a 30 minute presentation with one of our recognition experts.

Want more on this topic?
How to stand out with 2019 grads
Do you have a “Millennial Mentality”?
Why Millennials Leave
What Employees Want
The Remix – How to Lead and Succeed in a Multigenerational Workplace

Author: Lori McKnight

Lori McKnightAs VP of Recognition for CSI STARS, everything I do is about promoting small acts of recognition inside and outside the workplace. Positive words, deeds and attitudes multiplied by many creates a culture where people want to work, where they refer their friends and put in their best efforts. It’s really that simple!My Creds: MBA, Certified Recognition Professional, Forbes Council Member and GO SHRM blog squad contributor. Prior to joining CSI STARS, I worked at Mercer Human Resource Consulting and was Account Director at Youthography, a youth market research consultancy.