Motivating a Multigenerational Workforce: Boomers, Gen X, Millennials, and Gen Z
In February 2019 general elections, a new generation of voters reached eligibility age in Nigeria and registered to vote for the first time in their lives. You might wonder how this relates to the workplace. Well, what this means is that in the next four years, this group of first-time voters will be ready (or would have already joined) the Nigerian workforce.
All over the world, the workforce is going through a seismic generational shift that has changed the way people are managed. By 2020, Millennials will make up nearly half of the workforce and 20 million members of Generation Z will start their careers. Add these numbers to the Baby Boomers and Generation X, what we have is a gigantic multigenerational workforce daily interacting and working alongside one another.
Take a look around your workplace (especially big companies) and you are likely to see people from across the age span. This development is interesting and at the same time tasking, particularly for HR and the leadership. Perhaps the biggest challenge that companies with age diversity grapple with is understanding what motivates the mixed workforce.
As we all know, employee motivation is a critical aspect at the workplace which boosts performance and it is nothing to toy with or take for granted. However, motivating several generations of employees requires targeted encouragement. The things that matter to one generation might be completely meaningless to others. Members of each generation bring a distinct set of values and as such are motivated by completely different perks. It is therefore critical to have a solid understanding of the generational differences to fully maximize the benefits and effectively manage the peculiarities each brings to the table.
The differences in values and job expectations — if not recognised and treated with individualized approaches — can neutralise the effect of employee motivation, cause conflict and hinder productivity in the workplace. How then do you boost the morale of an age-diverse team to exercise creativity and thoughtfulness to solve customers’ problems?
The simple guide below should help managers know where to channel their efforts at motivating the workforce.
Baby Boomers
Born between 1946 and 1964, they prefer monetary rewards, but also enjoy nonmonetary rewards like flexible retirement planning and peer recognition. Prestigious job titles and recognition like office size and parking spaces are also important to Boomers.
Gen X
Born between 1965 and 1980, Gen Xers seek a work-life balance and are motivated by a job that fulfils them personally as well as financially. This includes flexible schedules, recognition from the boss and other benefits like bonuses.
Millennials (Generation Y)
Born between born 1980 and 1995, millennials thrive where there’s structure, stability, flexible schedules, continued learning opportunities, and monetary rewards. Culture is also extremely important for Millennials.
Gen Z
Born between 1996 and 2014, this generation is motivated by social rewards, mentorship, and constant feedback. Like their predecessors, they also demand flexible schedules.
With mutual effort, respect and a good working relationship, organizational growth can never be threatened by age diversity. As a matter of fact, many successful ventures across the world are the result of a mix and match of different generations. Learn to understand what motivates them, create an enabling around it and leave them to thrive.
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