Strategies for Motivating Your Multi-Generational Workforce
Some companies resist the idea of an aging workforce, preferring to keep their teams to “younger” generations. But as we continue to live longer lives, the reality is that people want to work well into their traditional “retirement years.” Plus, there are huge benefits to having a diversity of ages in your workforce. In this article, we’ll look at those benefits plus strategies to motivate your employees.
The Benefits of Multi-Generational Diversity in the Workplace
Juggling a wider range of generations working for your company can be a challenge, however, data indicates that leaders who embrace the realities of our long-lived world have a competitive advantage over those who are resisting the diversification of their staff’s age range. An AARP survey of global executives from over 5,500 companies found that 83% of leaders recognized a multigenerational staff as integral to their company’s success. Another study (source?) shows that companies with above-average diversity on management teams experience a 9% increase in revenue, plus a 19% increase in innovation revenue.
Strategies for Motivating Your Multi-Generational Workforce
Productive employees are engaged employees. But behind this productive workforce is a manager who understands and delivers on what motivates them. Every generation is a little different when it comes to motivation in the workplace. Let’s delve into those different motivations and strategies to help you deliver on those varying motivations.
Baby Boomers
Baby Boomers tend to be competitive. They often tie their sense of self to their employment status. In order to motivate a Boomer, you need to capitalize on that competitiveness, as well as their desire for recognition and to make a difference in their workplace. Some ways to help motivate Boomers include:
Have them mentor younger generations. This provides Boomers with leadership opportunities while helping with critical knowledge transfer to younger generations.
Put them in charge of teams or tough projects. Boomers love a challenge while also being part of the decision-making process. Plus, it will give them the recognition they deserve and desire.
The bottom line for Boomers: They have been delaying retirement, so take advantage of their generational knowledge through mentorship programs, and give them the recognition they deserve by allowing them to head up teams and projects.
Generation X
Gen X is often relied upon for their knowledge and skill, known for their project management skills and dependability. With that said, they see their current work as preparing them for leadership positions within their company, a move up that is sometimes delayed due to older generations staying on the job. This often leads to Gen X employees becoming frustrated, so it’s essential to keep them motivated. Here are some strategies to keep your Gen X employees engaged and happy:
Give them opportunities for personal growth through training and leadership development. Gen X sees training opportunities as key to their eventual move up the corporate ladder and shows that you are willing to invest in their future with the company.
Reward them for their hard work. Gen X puts in a lot of work to get promotions, but while they wait for that promotion, reward them with additional time off or by offering a flexible work schedule that meets their need for a work-life balance.
The bottom line with Gen X: They feel like they are waiting in the wings, so be sure to invest in their leadership development and reward them with other benefits while they are waiting for a promotion.
Millennials
Millennials value continuous feedback on their work based on performance and outcomes, not based on age or tenure with the company. They also want to feel like the company values them and approves of the work they are providing. Here are some ideas to keep your Millennial employees motivated and engaged:
Provide support for a healthy work-life balance. Millennials value a healthy work-life balance and respond positively to employers who support this balance through raises or paid time off that acknowledges their hard work. This reward not only helps motivate them to continue working hard, but can increase their company loyalty, so you reap the benefits of generational knowledge as they continue to age with your company.
Offer feedback that helps them thrive. Millennials thrive from respectful and encouraging language. With their preference for electronic communication, offer praise and feedback in the form of an email or text message with higher-ups copied in. Even a quick e-“thanks for all that you do” can help with this.
The bottom line with Millennials: They want their work to be valued at the company but also love a work-life balance, so providing support for that balance, plus rewarding hard work, can go a long way in motivating your Millennial workforce while also engendering company loyalty.
Generation Z
Gen Z employees are incredibly self-motivated and ambitious. They will work hard for you, but they expect a lot in return for that work. Having grown up completely in the digital age, Zoomers expect flexibility, convenience, and technology tools to be integrated into the work setting. Here’s how you can motivate your Zoomers:
Provide them with the structure, feedback, and predictability they expect. Zoomers expect regular feedback, not just an annual review.
Support their plan for growth. This ambitious generation is already planning out their future, so give Zoomers opportunities for training, both formal and informal. This is the perfect generation to pair up with a Boomer for mentorship because, despite their online nature, Gen Z actually prefers in-person interactions.
The bottom line with Gen Z: This ambitious generation craves constant feedback and is looking to map out their future, so doing more than just an annual review, plus offering in-person training, will motivate this generation to do great things for your company.
Key Takeaways
Having a diverse-in-age workforce can be a challenge to manage, but it comes with amazing benefits when you meet the motivations and expectations of each generation. When you find that balance, you’ll reap the benefits of more productive and engaged employees as well as higher productivity and retention rates!
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