Managing employees from different generations confuses and frustrates many business owners. A typical workplace may contain people from four different generations. The different generations have unique names, and unique personal and lifestyle characteristics. The following list will help you understand each generation’s outlook toward work, money, and motivation.
Veterans
- Born 1922-1945
- Influenced by the great depression and World War II
- Core Values: respect for authority, conformers, & discipline
- Traditional, nuclear families
- Considered education a dream
- Communicates one-on-one, writes memos, and used rotary phones
- Puts money away, pays cash for purchases
- No feedback “no news is good news”
- Seeks long-term jobs
- Motivated by loyalty
Baby boomers
- Born 1946-1964
- Influenced by the economic boom following WWII and the Vietnam War
- Core Values: optimism and involvement
- Disintegrating families
- Considered education a birthright
- Communicates with touch-tone phones and an attitude of call me anytime
- Buys now, pays later (high credit)
- Accepts annual or quarterly reviews
- Willing to stay at a job, but doesn’t want to be slaves to it
- Motivated by opportunities to shine, self-help books and tapes
Generation X
- Born 1965-1980
- Influenced by Space Shuttle explosion
- Core Values: skepticism, fun, informality
- Grew up as latch-key kids
- Considered education as a way to get there
- Communicates on cell phones, but asks that you only call them at work
- Extreme savers in a cautious and conservative manner
- Require frequent feedback because parents were encouraged to give praise
- See their job as a career step instead of a destination
- Motivated by flexibility, family-friendly environments, and relationships with colleagues
Generation Y (or Millennial)
- Born 1981-2000
- Influenced by 911 trade towers falling and dot com bust
- Core Values: realism, confidence, extreme fun, and socially motivated
- Grew up in merged families
- Considered education as an incredible expense
- Communicates via the Internet, picture phones, and email
- Earns money to spend it
- Requires more feedback than any generation to prepare for the next job
- Want immediate promotions
- Motivated by feedback, tools to perform, and time to play
Saturday we will review the various ways to reward your employees
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