Whe GENERATIONS IN THE WORKFORCE A MarketPoint Infographic U.S. Workforce Population, as of 2015 U.S. Workforce by Generation (Pew Research Center) i 2% Silent Generation 35% ——~ Millennials million total U.S, workforce population in 2015 (Pew Research Center) ~— 29% Baby Boomers 34% Generation X 53.5 line Millennials 2010 2020 52.7 Generation x million 44.6 bay = Boomers Millennials were Boomers are predicted million only of the to drop to of the workforce workforce (Simon, What 3 7 Silent (Pew Research Motivates Baby Million Generation Center) Boomers at Work?) derstanding and Motivating Each Generatio! Perceived Strengths of Each Generation (Ernst & Young LLP) Millennials Generation X Baby Boomers Tech sawy Manage teams effectively | Hardworking Enthusiastic Revenue-generators Productive Perel Problem-solvers Team players Petia Collaborative Essential for others’ development Adaptable Best to manage in challenging times Perceived Drivers of Each Generation Effective Preferred Preferred Tips on Management Motivators Recognition Benefits Millennials | Stock options; | Informal lexible 63% say their leadership skills are not being Regular communication | schedules; fully developed: feedback through company | Continued 87% believe that a business’ success should (SHRM) chat or social | learning be measured based on not just financial networks opportunities | performance (SHRM) (SHRM) 70% believe their personal values should be shared by their employer. (Deloitte) — Bonuses; Informal, rapid | Telecommuting | These employees consider ‘long hours" and Stock options, | and public and tution ‘paying dues’ outdated concepis; their job Workplace recognition reimbursement | security comes from a strong resume and flexibility (SHRM) (SHRM) continual selFimprovement, and they expect (SHRM) flexible schedules ané engaging cultures from their employers. (Simon, What Motivates Generation X at Work?) Baby Money; Flexible | Acknowledge. | 401(K) matching | Boomers are often ambitious about personal 5 retirement ment of theirinput | funds, and company goals. They are relationship- EIEN planning: Peer | and expertise: Sabbaticals: driven and prefer on-site, tracitional office recognition Prestigious job | Catch-up environments that promote teamwork (SHRM) titles; Parking retirement Remember that they often base ther personal places; Large funding (SHRM) | identities on their work les. (Simon, What offices (SHRM) Motivates Baby Boomers at Work?) Silent Money: Respect | Subtle, Long-term care | Consider pension plans and retiree health, iGenerationy SHRM) personalized insurance, care, flexible work schedules, and symbo- Fecognition and | Catch-up lic awards (Simon, What Motivates feedback retirement Traditionalsts At Work?) (SHRM) funding (SHRM) Great Expectations in Five Tweets’ Universum Global United States Department of Labor &... Millennials are expected to surpass Boomers in total income by 2015, and eclipse Gen X by 2020 & iven the choice, Millennials would most like to work for Google, Apple, Walt Disney or Facebook A Shortage of jobs puts Millennials where they least want to be: Retail (14%) and Leisure/Hospitality (13%) United States Department of Labor Millennials’ most preferred industries are Arts & Entertainment, Education, Technology and Healthcare & Millennial employment in Education and Healthcare declines as Gen X and Boomers hold onto ‘two-thirds of available jobs 75% of managers say managing multi-generational teams is challenging (Ernst & Young LLP) The generations It's awkward have different work having expectations younger employees managing older employees ional Environment cD x How to Manage in a Multigenera Oe tah eee A) X Don't form generation-based Consider reverse-mentoring programs where experienced workers employee affinity groups; aun ass Car Ly ‘they only reinforce Sa ere CUCL es ecu ea eer Salama Caria X Don't manage top-down; So eee MCR ee Mee a cd eee ee reine Caren) Open your internships and apprenticeships to workers of all ages (Lori A. Trawinski) Start a program to help workers re-enter the workforce after a long absence (Lori A. Trawins! Oe eee ere eae en eek AC d (Lori A. Trawinski) Peete ee ELC EC eee Re cae) ages (Knight) > Never assume you know what motivates employees Who are older or younger ‘than yourself (knight) workforce (Lori A. Trawinski) Dees et eee ee ecru generations (Alec Levenson) Te eC eee Rm eC EET (eae) <6 6 6 6 6 6 8 6 SK Help each generation understand the other's needs and language (Scott) ‘Alec Levenson, Jennifer J. Deal. "Generational Conflict at Work Separating Fact fom Fiction” SHRM Foundation. Alexandia, n.d. Web. 9 December 2016, “ertps//www.shimorg/about/foundation/products/dacuments/11-15%20gen%20contlct-inal pat» Clegg, Jasper. 17 Incredible Charts that Show Why the Millennial Generation is Unlike Any Other. 23 May 2015. Web page. 17 December 2017. -. Deloitte. "The 2016 Deloitte Milennial Survey Winning over the next generation of leaders! Survey Findings. 2016. Web. 21 October 2016. - Emst & Young LLP “Younger managers rise in the ranks: survey quantifies management shift and reveals challenges, preferred workplace perks, ‘and perceived generational strengths and weaknesses” EY News. New York Emst& Young LLP. 3 September 2013. Pres Release. 18 December 2016. -hitp//wermuliv.com/mnr/63068-emstand-young Ip tesearch-younge-managersviseimthe-ranks>, ight, Rebecea. Managing People from 5 Generations. Harvard Business Review, 25 September 2014 ‘Web. chttps://hb.org/2014/09/managing people-from-S-generations>. Low A. Trawinsk, Ph.D, CFP Leveraging The Valu ofan Age Diverse Workforce. Executive Briefing. Alexandria: SHRM Foundation, n.d. Web. December 2016 ‘hitps://ww.shimn.org/aboutfoundation/products/documents/age-dveree%<20workTorce%20exec%20brefing final pd, Pew Research Center "US. Labor Force by Generation, 19952015" Millennials Supass Gen Xers asthe Largest Generation in U.S Labor Force. 11 May 2015. Web. 12 December 2016. Scott, Adriana, Milennials' Comfort with Technology Key to Company Growth. 17 June 2013. Web. 12 December 2016. htps:/weew shrm.org/resourcesanctoals/v-topics/behaviora-competencies/globatand.culturattfectiveness/pages/millennals-comfor-with-technology- keyto-company-growth aspx SHRM. Motivating Generations Infographic. .d. Web. 12 December 2016. chtps://www shrm.org/ResourcesAndTools/htopics/behavioral ‘competencies/glebal-and-culturabeffectiveness/Pages/Motivating Generations Infographic. aspx Simon, Kata. What Motivates Baby Boomers at Work? 24 March 2016. Web. 12 December 2016. -. ~. What Motivates Generation Xat Work? 3) March 2016. Web. 12 December 2016. http maitzmotivation.com/blog/employee_engagement/motivate-generation-x/>. ~. what Motivates Tadtionalsts At Work? 10 March 2016. 12 December 2016. - ‘The Hartford. “The Hartford's 2015 Millennial Leadership Survey" Survey Findings. 2015. Web. 25 October 2016 -hitps/ wer thehattford.com/sitee/thehartord/iles/millenniaMeadership-2015. p> United States Department of Labor: Labor Force Statistics from the Current Populatin Survey: Demographics. Current Population Survey Findings. ‘Washington DC: Bureau of Labor Statistics, 2016, Web, 27 October 2016. «http://www. gov/epe/demographies htmeage> Universum Global. "United States of America's Most Attractive Employers -Trends and Rankings” 2016. Universum Global, POF -Slide Deck. 18 December 2016, ‘© Copyright 2017, MarketPoint LLC