(The following is a summary of an article by Inc.com - See bottom of this article for links)
Many leaders have complained that it's one of the biggest challenges facing their business today: motivating people from different generations without exhausting themselves. Hopefully the insight below can help.
Each generation is responding to their experiences and these life events shaped their values and therefore, shaped their motivations.
Here's a snapshot of each generation.
Traditionalists
Most of this generation has left the workforce, since they were born between 1928 and 1945. But they still make up approximiately 3% of the workforce today.
They believe firmly in the philosophy of an honest day's work, and want to be respected for their loyalty and dedication to a team and company.
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Baby Boomers 1946 - 1964
Many of current leadership roles are filled by this generation. They tend to be ambitious and work-centric. They are motivated by monetary rewards, retirement plans and peer recognition, which means giving weekly feedback and quarterly recognition of achievements goes along way toward making them feel valued on the team.
Other motivators include, promotions, chances to lead and guide others, gaining titles and certifications. Even small perks, like reserved parking and cash allowances for extra treats and amenities are well-received.
While 70 million boomers reached retirement by 2020, many have chosen to continue to work, so teams should lean into this valuable resource for continued growth and sustainability.
It's expected that around 70 million Boomers will be retired by 2020.
The writer of the original author advised the following in response to this: "they're also paying attention to 401(k) matching funds, sabbaticals, and catch-up retirement funding."
Gen X 1965 - 1980
Generation X has around 44 to 50 million Americans who were born between 1965 and 1980. This was the first generation to be more motivated by "work-life balance" which sometimes caused misunderstandings with those in leadership from earlier generations.
They wanted to avoid the burnout that they witnessed their parent's experience.
This generation developed an entrepreneurial spirit, so they often have side hustles when extra funds are needed, but that also means they enjoy leading new initiatives for an employer. This is an often underused strength of this generation.
Give them opportunity to work independently. This generation is excellent for a leader who delegates projects and responsibilities. They are resourceful which makes it easier to achieve multiple goals at once when you learn to trust their skillset.
They also value the mentor-protege relationship so give them an opportunity to exist in both roles: monthly meetings with someone in the Boomer generation and a chance to guide Millenials and Gen-Z. Perhaps, let the Gen X lead a team on product development or systems analysis that includes the other 3 generations.
Other ideas from the author are as follows: "Gen Xers can be motivated by flexible schedules, benefits like telecommuting, recognition from the boss, and bonuses, stock, and gift cards as monetary rewards."
Millennials (Generation Y) 1980 - 2000
Millenials have learned the value of their skills and also, like Gen Z, seek "work life balance." This means the employers who respect what they bring to the table and create a space they can fluorish tend to gain their loyalty and best results.
This generation, as has been proven since the pandemic started, have no problem leaving an employer to accept a role at another. If they don't feel valued or that their well-being is secondary to work, they are more likely to leave for amiable waters.
This is what likely scares many leaders in the Boomer generation, but Millenials have responsibilities and goals as well, so they're not leaving a job that provides for both.
The author suggests the following: "offering skills training, mentoring, feedback. Culture is also extremely important for Millennials."
Use the information suggested for Gen X: Millenials enjoy collaboration and being a part of building things. They are prime candidates for high productivity in less time.
"Flexible schedules" are preferred but this does not mean your Millenial team won't work hard. It simply means they are willing to produce high quality work and quickly if it means they can opt to take Friday off without losing pay or if they can work a hybrid schedule, so long as they meet team goals.
More tips include: "Millennials also thrive when there's structure, stability, continued learning opportunities, and immediate feedback. If you do offer monetary rewards, they prefer stock options."
Gen Z - 2000 - 2010
This generation is likely to be interesting. They are just now entering adulthood or they are still teens. They were raised by Gen X and the older half of the Millenial generation. This generation has actually surpassed the number of Boomers.
This generation enjoys meaningful work. They want to know that their time and energy is creating something worthwhile, not just generating a paycheck. Since they also appreciate independent responsibility, it may be great to match them with a Boomer or Gen X for mentorship, with the added understanding that the mentor should ask the Gen Z employee to teach them something new as well.
In this way, the younger generation feels valued and also supported in their own growth.
Flexible schedules are also important to this generation, just like Gen X and Millenials so this is likely to become a long-term fixture of the modern workplace.
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Gen Z thrives when expectations are clear and rewards are consistent. Setting a schedule and a measurable goal will motivate Gen Z. Couple this with the opportunity to have a longer lunch, leaving early, or a shorter week in response to quality work, and you'll definitely motivate a Gen Z.
For Millenials and Gen X, more freedom is appreciated, so the expectations should be set by them but the flexible schedules will work with all 3.
One more tip from the author: "What's most intriguing about Gen Zers is that 53 percent prefer face-to-face communication."
This is interesting since so many theorized that their tech saturated environment might cause the opposite.
Motivating a Multigenerational Workforce
Understanding what each generation values can help you build a system that supports their individual desires and your business' needs as well.
Give schedule options: 9 to 5, Hybrid, Flex options, etc. Let each person choose what works for them.
Send a monthly "newsletter" that acknowledges achievements for the team as a whole, as well as the participation of each individual.
Make "work-life balance" a part of the conversation. Ask for suggestions on how this can be achieved for each of them. Have each team member share what would make them feel supported in their various roles. For example, a parent with a young child might ask if they can leave at 2pm to pick their child up from school in exchange for completing part of their work between 4p and 6p.
Giving them the chance to provide input will build their morale and loyalty for every generation.
and as Mr. Rampton ended his article, "Don't forget to encourage work-life balance, offer health and welfare benefits, and provide rewards thatyouremployees would care about."
Did you enjoy this article and my summary? Leave a comment below.
To read the original article, see below.
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Source:
Rampton, John. "Different Motivations for Different Generations of Workers: Boomers, Gen X, Millennials, and Gen ZAn honest day's pay for an honest day's work isn't always the case." - 2022
Click HERE for the original article.
