St. Louis, MO (PRWEB) March 31, 2016
Maritz Motivation Solutions has released Motivating the Workforce of 2020, a new white paper that provides insight on the characteristics and individual motivating factors of the five generations in the workforce, and offers recommendations on how to create a culture that engages everyone.
The white paper and its accompanying infographic are intended for executives, managers and professionals to understand what each of the five working generations wants and needs to be fulfilled by their work. While recognition is very individual, the paper describes the specific psychographic characteristics of each generation and shows how each one prefers to be recognized. It outlines eight steps to build an inclusive culture that engages all generations.
“For the first time in the history of the modern workforce, five generations will be working side by side toward shared goals. Within the next five years, organizations will see dramatic workforce and cultural changes,” said Kimberly Abel-Lanier, VP and General Manager Workforce Solutions for Maritz Motivation Solutions. “Leaders must develop inclusive workplace cultures to serve the varying needs of each generation, who hold unique – and sometimes conflicting – values, attitudes and perceptions.”
The paper names the five generations as Traditionalists (age 70+), Baby Boomers (51-69), Generation X (36-50), Generation Y (Millennials – 20-35) and Generation Z (Gamers – 19 and under). Each generation looks for different monetary and non-monetary rewards, and prefers to be recognized in different ways, according to the report.
In general, Traditionalists and Boomers favor monetary rewards. In terms of recognition, Traditionalists prefer subtle, personalized recognition and feedback. Boomers want acknowledgement for their input and expertise.
Generation X looks for both monetary and non-monetary rewards. This generation wants informal, rapid and public communication when they excel at work, the paper says.
Generation Y and Generation Z generally seek greater non-monetary rewards, for their organizations to “give me an experience.” Regarding recognition, Millennials desire regular, informal communication through company chat or social networks. Generation Z looks for regular, in-person and public praise, according to the Maritz Motivation paper.
The paper offers these eight tips for motivating the multigenerational workforce:
Promote collaboration and celebration. More companies are investing in online platforms that promote community and collaboration where employees can share success.
Focus on individual goals. Managers should seek to understand individual work styles and how people like to be recognized for accomplishments.
Make the customer the mutual priority. When your focus is the customer, everyone works together with common purpose.
Enable personal growth and work/life balance. Millennials especially have sought flexibility, but work/life balance is enjoyed by everyone. Embracing flexibility will empower your teams.
Develop employee strengths through a mentorship program. Start a reverse mentorship program in which each employee is both a mentor and a mentee.
Involve employees. Culture must be defined in a way that can be explained to others. Survey employees at all levels of your organization to get a 360-degree view of culture.
Consider manager selection carefully. Your recognition program requires a strong tier of leaders aligned with the company’s goals and attuned to issues facing your workforce today. Carefully select managers based on experience, aptitude, capacity for growth, leadership style and understanding of organizational and employee challenges and opportunities.
Enhance the well-being of employees. Consider a more holistic approach to employee well-being beyond stand-alone recognition programs. Wellness, performance management and employer branding are three programs that integrate seamlessly with recognition initiatives and offer added value.
About Maritz Motivation Solutions
Maritz Motivation Solutions has been a global leader in employee recognition for over 75 years. Maritz’s CultureNext solution empowers employees to transform their organizations into amazing places to work.
CultureNext provides organizations with flexible technology, tools, services and expansive rewards to help connect people worldwide to create a culture of engagement, passion and purpose. For more information, visit us at http://go.maritzmotivation.com/culturenext