The “multigenerational workforce” refers to companies who employ a wide span of generations including baby-boomers, Generation X, millennials and Generation Z. Including a variety of perspectives from such generations is vital for companies to thrive, according to Kylene Zenk, director of the Manufacturing Practice at Kronos, Inc.
Baby-boomers are typically encouraged by monetary benefits, promotions and recognition, while Gen X values work-life balance and bonuses. Similarly, millennials are motivated by bonuses, but also value flexible schedules, mentoring and feedback.
As Gen Z starts to move into the workforce, Zenk said that this digitally native group wants to work hard, but are likely to be motivated by working at a place that makes them happy, offers flexibility and encourages strong working relationships.
“The expectations of the workforce are always evolving as each generation progresses through their careers, and a new demographic steps in to fill their shoes on the ground level,” said Zenk. “So, although new expectations and demands will surface, employers will likely see the needs of their workforce overlap — at least over time.”
In order to unite the multigenerational workforce, Zenk states that managers must have a strong and supportive relationship with their workers. The Workforce Institute found that 9 out of 10 workers say the relationship they have with their manager can be the deciding factor of whether they stay at that job.