March 1 marked Employee Appreciation Day. And for the first time in history, there are four different generations working side-by-side in the workplace — and each of these groups has different motivators.
According to Michael C. Fina, a global incentives and rewards company, there are 154,316,000 employees in the workforce today, and those employees consist of Traditionalists (1922-1945); Baby Boomers (1946-1964); Generation X workers (1965-1978); and Generation Y workers (1979-1997).
Here’s a breakdown of these generations by percentage:
- Traditionalists make up 5% of the workforce
- Baby Boomers 38%
- Generation X 32%, and
- Generation Y 25%.
While Boomers are the most prevalent generation in the workforce at the moment, by 2015 Gen Y workers will outnumber both Gen X and Boomers.
Because each generation has its own unique background, a one-size-fits-all-motivation strategy won’t cut it for companies that have a number of different generations working together.
What motivators work best for each generation? This infographic by Michael C. Fina does a nice job answering that question:
Via: Michael C. Fina