Benefits & Compensation News

Multigenerational workforce: What motivates today’s employees [Graphic]

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

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