In February, the LinkedIn Talent Blog shared a guide to the multigenerational workforce. Entitled A Guide for the Ages: What You Need to Know to Attract a Multigenerational Workforce, the guide works to separate fact from fiction by sharing the four main currents shaping the multigenerational workforce and how these groups will shape talent acquisition moving forward.
- Different skill sets
- Different job priorities
- Different reasons for leaving
- Different benefits that make employees perk up
Multicultural Approach
With the workplace being more multigenerational than ever (Boomers, Gen X, Millennials and the beginning of Gen Z), it’s becoming more important for employers to understand how to generationally meet the needs of its current and future employees. Now is the time to abolish a one-size-fits-all approach to keeping employees happy in the workplace.
Why Employees Leave
The LinkedIn blog found that Millennials, Gen X and Baby Boomers share some of the same reasons for leaving a job but often rank them differently in order of importance. Rankings closely correlate with the stage of life an employee is in at the time. For example, Millennials place a higher importance on compensation and benefits because they are paying schools loans, getting a first mortgage and starting a family. Gen X also looks at compensation but places challenge higher on their list of expectations. Boomers, who are looking toward retirement, have a greater focus on job challenge, skill fit and overall impact in a role.
Millennials
- Better compensation and benefits
- More advancement
- More challenge
Gen X
- More challenge
- Better compensation and benefits
- More advancement
Boomers
- More challenge
- Better fit for skills and interest
- More impact
These demographics also place different emphasis on promotions and how they climb the career ladder. Research from LinkedIn found those who change jobs internally (promotion or lateral move) are more likely to stay with a company. This is often fueled by the notion of career as defined by the ability to grow professionally and maintain satisfaction in a role.
Now more than ever, it’s more important hiring managers understand what makes employees leave. Working with a staffing agency can make the hiring process easier. Staffing experts vet candidates and their reasons for wanting to work with a company. This ensures no time is wasted interviewing candidates who do not fit the company culture or business model.
