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Generation Xers Generation X, comprised of those born roughly between 1964 and 1981, is a different breed of employee. They like a good salary as much as anyone, but just as important, they want to be in a challenging work environment where they can grow while learning new skills. For the most part, Generation Xers are independent and dubious. They have entered the workforce knowing that they will have several careers and employers throughout their working lives. What this means for you, the frugal yet inspired entrepreneur, is that you can motivate them by creating a work environment that develops their skills, thereby increasing their future marketability. Offer assignments that challenge them, change their jobs around, give them new and different projects, help them learn new skills. Not surprisingly, training is greatly appreciated by Gen Xers, as is mentoring and other continuing education techniques. Other rewards that work with this group include: • • • •
Telecommuting Gift certificates Dinners Tickets to sporting and cultural events
Finally, remember that younger employees like to have fun and value a work-life balance. A workplace that demonstrates your support of that can go far and doesn’t cost any money at all.
Baby Boomers Baby boomers, born 1946 through 1964, are now middle-aged, and are thinking about family, money, and retirement. Indeed, many boomers are worried about their financial future. As such, one thing you can do to help motivate them is to offer financial planning, good pensions and benefits, and retirement planning. You should also consider offering flexible work schedules and different retirement options. A survey by the National Institute on Aging found that nearly 80 percent of boomer employees would prefer a retirement plan that is phased-in, rather than occurring all at once. Given that, use job sharing, flex time, independence, and other similar options as ways to keep these employees loyal.