Understanding the dynamics of different generations within the workplace is crucial for businesses striving to attract the best and brightest employees. Each generation holds unique values, career aspirations, and varying work preferences. An employer’s ability to meet those expectations doesn’t just make it easier to recruit top talent. It also aids in retention, productivity and overall workplace happiness.
How many generations make up today’s workforce?
According to data from Statista, in 2022 the working age population of the United Kingdom comprised of approximately:
- 7 million Baby Boomers (individuals born between 1946 and 1964)
- 4 million Gen X (those born between 1965 and 1980)
- 2 million Millennials or Gen Y (people born between 1981 and 1996)
- 3 million Gen Z (the youngest cohort, born between 1997 and 2012)
What do Baby Boomers want from their workplace?
While no two people are exactly alike, many generations hold shared values. In the case of Baby Boomers, they typically gravitate to workplaces that promise:
- Stability: Baby Boomers will often make a long-term commitment to their employers and appreciate stability in their careers.
- Recognition: They value acknowledgment for their years of experience and contributions to the company.
- A traditional hierarchy: They are often comfortable with and appreciate clear hierarchies and well-defined organisational structures.
- A strong work ethic: Baby Boomers are known for their strong work ethic and dedication to their roles. They will be drawn to companies that value that effort.
What does Gen X want?
The Gen X cohort makes up a significant portion of the modern workforce. Overall, Gen X workers seek:
- Autonomy and independence: Gen Xers value having control over their work and decision-making. The well-defined structures Boomers appreciate may stifle them.
- Recognition: These employees have plenty of experience of their own, and much like Boomers, they want to see their contributions recognised.
- Benefits: Gen Xers highly appreciate workplace benefits such as healthcare coverage, retirement plans, life insurance, and wellness programmes.
- A collaborative work environment: Gen X workers often thrive in environments that encourage teamwork, collaboration, and maintain open channels of communication.
What do Millennials want?
At the present time, there are more Millennials in the UK workforce than any other generation. They are known to value:
- Purpose and meaning: Millennials seek meaningful work aligned with their values, and jobs that contribute to a larger purpose and societal impact.
- Growth and development: They are attracted to organisations that offer mentorship, training, and clear paths for progression.
- Work-life balance: Millennials appreciate flexible work arrangements and value a healthy work-life balance.
- Technology and innovation: Innately tech-savvy, Millennials are drawn to workplaces that embrace and leverage technology for efficiency and innovation.
- Inclusivity: Inclusive workplaces that celebrate diversity and equality appeal to Millennials.
What does Gen Z want from the world of work?
Often maligned, these newcomers are actually some of the most loyal employees in the workforce today. They have much in common with Millennials, and often seek:
- Purpose-driven work: They too are attracted to companies with a clear social mission and prioritise roles that contribute positively to society and the planet.
- Flexibility and remote work options: Gen Z highly values flexibility in their work arrangements.
- Instant feedback and recognition: Gen Z appreciates real-time feedback and recognition for their contributions.
- Diversity and inclusion: They strongly value organisations committed to creating a culture where everyone’s voice is heard and respected.
