Tips to Help a Multigenerational Workforce Get Along
Workforces today are more diverse than ever – not just in gender and nationality, but in age, as well. Employees typically range in age from 22 to 65 or older, which means they come from four generations that view and react to the world very differently.
Because of this, it’s likely your employees respond to the same workplace situations – say, a new policy allowing matching paternity leave with maternity leave – very differently. Where Gen Z and Millennial employees may champion this, seeing it as a wonderful step forward, some employees from the Gen X and Baby Boomer generations might view it as unnecessary and perhaps even frivolous.
It might seem as if it’s impossible to get your employees to agree on anything – however, it is possible to find balance with your multigenerational workforce, so long as you understand what it is that motivates and matters to each generation.
With insights from tools like Laws of Attraction, which includes data from over 7,000 Singaporean jobseekers between the ages of 18 and 65, you can find ways to make your workplace a harmonious one.
Baby Boomers value punctuality and in-person conversation
In their 50s and 60s, Baby Boomers generally hold a bachelor’s degree and work in senior-management and mid-management level roles in Singapore. These employees remember experiencing the post-war boom, Singapore’s first national day and the Apollo moon landings, with the rise of the Internet and mobile phones occurring well into their adulthood.
When it comes to what’s important to them at work, while salary and compensation come out on top, they rate it slightly less important than the other generations. Most Baby Boomers also prioritise work-life balance, job security and workplace location more than the other generations do. They also wish to work for a company that values and invests in its employees, prefer face-to-face interviews, and pay attention to punctuality. As for salary and benefits, they expect to receive insurance, medical coverage for their families and compensation for working overtime.
Seeing as how Baby Boomers are usually company leaders, it’s likely they are making key decisions for the workforce. It’s imperative that they are given data on current industry trends and feedback from employees so that they are able to make the best decision for the company as a whole.
Money and annual leave matter to Gen X
Comprising a large chunk of today’s workforce, employees from Gen X are between the ages of 35 and 54, which means they experienced economic woes such as the Asian stock market crash and Dot com bubble burst of the late 1990s, and grew up without technology like personal computers and mobile phones, but have adopted them throughout their adulthood.
Usually either in management roles or candidates for management, Gen X employees generally expect the highest monthly income, so it’s no surprise that they care more about salary and compensation than the other generations. However, they also rate work-life balance and job security higher than the total market, and expect to receive the highest number of annual leave days.
Beyond these expectations, Gen X workers are similar to Baby Boomers in that they also want to receive insurance and medical coverage for their families, but they also want to receive additional leave to care for children, sick family members, as well as a birthday incentive and to continue education. An ambitious lot, they generally want to be in enterprise companies with promotion opportunities.
Millennials look for flexibility, health benefits and career development
Often dubbed “snowflakes” or “strawberries” by older generations, Millennial employees are between the ages of 24–34 and grew up in a world rocked by rapid advancements in technology, increasing incidents of terrorism and a global economic recession.
They prize flexibility in the workplace and care about career development opportunities, workplace culture, corporate social responsibility and additional benefits much more than their older colleagues – likely because they are the first generation to grow up with major exposure to a more globally connected world and are used to comparing experiences and finding a voice via online communities.
As Millennials begin to move into junior manager positions and start families, they are looking for the same additional leave to care for family members that Gen X seeks, but like Baby Boomers, they also want overtime pay. The major differentiators from their more senior colleagues is that they want to work for a company with excellent health benefits, including mental health, and additional perks like sabbatical leave or moving expenses in the event they are relocated to another country.
Work-life balance and corporate responsibility are imperative for Gen Z
As Gen Z enters adulthood – and the workforce – these 18 to 23 year olds are bringing new perspectives and skills to workplaces. The first true digital natives, Gen Z use technology and social media fluently, but have also come of age witnessing the environmental crisis and have never known a world without the threat of terrorism.
Generally in intern or entry-level positions, Gen Z employees are less concerned with money than other generations, but like Millennials are keen to receive career and skill development, and look for flexible working hours and organisations that champion corporate social responsibility. Beyond this, they expect their workplace to offer wellness programs and gym memberships, provide company mobile phones, and to support diversity and inclusion proactively.
So the big question: how does a company satisfy all four generations?
Though the generations do differ on certain workplace values, everyone looks for fair salary and compensation packages, work-life balance and job security. Beyond this, it’s important to reinforce the ideas of collaboration and teamwork, to provide training and development opportunities for all employees, and to champion respect, communication and transparency. Even if people disagree or have different views on the same subject, by communicating and connecting, your office will be much more harmonious.
Want more insights into how to find and retain the best talent in Singapore? Browse our free online Laws of Attraction tool to access some of the best talent insights in the country.