1. How
Well
Does
Your
Small
Business
Manage
Your
Multi-­‐Generational
Workforce?
Today’s
workforce
is
increasingly
becoming
multi-­‐generational.
If
your
business
can’t
meet
the
demands
and
expectations
of
all
of
them,
you’re
going
to
experience
costly,
unnecessary
turnover.
By
recognizing
how
to
bridge
the
gaps
between
multiple
generations,
you
can
reduce
turnover
and
give
your
company
a
competitive
edge.
What
Generations
Are
Represented
in
Today’s
Workforce?
There
are
four
predominant
generations:
• Traditionalists
–
Born
between
1922
and
1945
• Baby
Boomers
–
Born
between
1946
and
1964
• Generation
X
–
Born
between
1965
and
1980
• Generation
Y
–
Born
between
1981
and
1994
Each
of
these
generations
has
its
own
particular
set
of
work
ethics,
characteristics,
and
expectations
from
their
employers.
In
order
to
attract,
retain,
and
engage
your
workforce,
your
small
business
must
recognize
the
distinct
differences
between
these
groups.

2. What
Are
the
Key
Differences?
• Traditionalists:
With
their
years
of
experience,
in
most
large
organizations
traditionalists
are
typically
presidents
of
companies
or
serve
on
boards
of
directors.
They
value
strong
leadership
and
loyalty,
believe
in
conformity,
and
prefer
hierarchical
organizational
structures.
• Baby
Boomers:
Baby
Boomers
want
to
work
for
companies
with
solid
financial
futures
and
are
looking
for
a
place
to
work
long-­‐term.
They
are
motivated
by
opportunity
and
compensation,
and
value
individual
choice,
group
decision-­‐making,
ownership,
and
prosperity.
• Generation
X:
Generation
X
workers
value
stability,
but
also
want
to
work
for
a
company
that
is
flexible.
They
prefer
hands-­‐off
management
and
opportunities
for
growth
within
a
company,
technology
over
traditional
interactions
in
the
workplace,
and
strongly
dislike
corporate
environments.
• Generation
Y:
Generation
Y
employees
want
to
work
in
a
casual
workplace
that
values
self-­‐expression
over
self-­‐control.
They
want
a
challenging
career
in
which
respect
is
earned,
demand
opportunities
for
growth,
and
need
instant
feedback
and
high
compensation
for
good
work.
How
Your
Small
Business
Should
Respond
to
the
4-­‐Generation
Workforce
While
it
may
seem
like
the
four
generations
have
distinct
differences,
there
are
still
ways
you
can
attract
and
retain
the
top
talent
from
each
generation.
First,
and
most
importantly,
you
need
to
value
each
generation
for
its
unique
skills
and
perspectives.
Appreciate
the
loyalty
of
your
traditionalists,
while
valuing
the
go-­‐getter
attitude
of
the
Generation
Y
workforce.
Then
you
need
to
implement
strategies
that
target
each
type
of
employee.
Recruiting
Each
type
of
generation
has
its
own
reasons
for
working
for
a
company.
Baby
Boomers,
for
example,
are
looking
for
a
steady
business
from
which
they
can
retire,
so
you
should
emphasize
your
retirement
benefits,
stability,
and
leadership
opportunities.
Generation
X
recruits,
on
the
other
hand,
look
for
fast
rewards,
hands-­‐off
management,
and
a
career
that
affords
them
a
comfortable
work/life
balance.
Engaging
and
Managing
Each
type
of
generation
likes
to
be
managed
in
distinct
ways.
If
you
respond
and
lead
effectively,
you
can
keep
each
generation
engaged
and
productive.
Generation
Y
workers,
for
example,
enjoy
collaborative
working
styles,
diversity
in
their
day-­‐to-­‐day
tasks,
and
guidance

3. from
management.
Baby
Boomers,
on
the
other
hand,
want
to
be
valued
for
their
experience
and
given
rewards
through
status
(such
as
a
new
job
title).
Training
Training
varies
from
each
type
of
workforce
generation.
Baby
Boomers
are
traditional
and
like
the
classroom
or
hands-­‐on
style
of
learning.
Generation
Y
workers,
however,
want
mentorship,
training
that
uses
advanced
technology,
and
an
understanding
of
how
their
contributions
impact
the
company’s
success.
What’s
Next?
Look
out
for
Generation
Z,
which
are
people
born
after
1994.
Also
known
as
Gen
2020,
these
“kids”
seem
to
be
attached
to
their
smartphones.
They
want
jobs
that
have
a
social
impact,
and
they
are
entrepreneurial,
community-­‐oriented,
prudent,
and
more
tolerant
of
racial,
sexual,
and
generational
diversity.
Will
your
small
business
be
prepared
for
these
“digital
natives.”
By
taking
the
time
to
understand
the
core
differences
in
your
four-­‐generation
workforce,
you
can
effectively
attract
and
retain
the
best
talent
within
those
generations.
Get
your
copy
of
Practical
Tools
to
Manage
Costly
Employee
Turnover
to
learn
more
about
how
managing
these
different
generations
can
reduce
turnover.
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