When it comes to attracting talent, hiring managers should have an understanding of what traditionally is valued and important to individuals from different generations. Structuring your company’s value proposition to generate interest from a specific group of people needed to fill your positions based on the experience required and company culture can be a huge benefit. Currently, there are three major names in generations that make up the majority of employees in the U.S.Baby Boomers (born 1946-1964) are considered the “live to work” generation. They seek job stability, financial security and greatly value loyalty. This generation also expects to have to earn rewards and respects authority. Members of this generation seek employment from companies that have a long standing history in their community and a positive financial future. To retain Baby Boomers who currently work atyour company, you must value and show these employees that you care about their careers and job knowledge while providing opportunities for them to share/mentor younger generations of employees. This generation cares about their legacy and seeks to positively impact their employer.
Generation X (born 1965-1982) employees find value in organizations that provide flexible work schedules (telecommuting/non-structured hours), benefits that provide child and elder care and promote a work/life balance that gives them the ability/time to enjoy life outside of work instead of waiting until retirement. Incentive plans, stock options and money are all attractors for this generation of employees.
Generation Y (born 1983-2001) also known as millennial employees want to be recognized for their accomplishments and individual contributions within a team environment. They often seek work opportunities that are productive and meaningful as opposed to monotonous physically demanding work. This generation desires to work with leading-edge, innovative technology that supports their current usage of social media and information sharing, along with opportunities to receive continuing education are also attractors. Additionally, they value the opportunity to voice their opinion on workplace situations and practically demand a flexible work schedule and an informal dress policy. Typically, members of this group are not seeking tenure with a particular company, but they do desire a meaningful position in which they can learn and move up the career ladder.
When seeking talent for your next opening, keep these differences among each generation in mind. Competition for talent is fierce and the challenge of hiring the right employee is even more difficult. Compensation and benefits, though important, are not the only tools your company can use to attract and retain talent.
This post was written by Derrick Coy. Derrick has over 5 years of experience recruiting technical service and engineering talent for chemical and medical manufacturing companies. Derrick holds a B.S. in Communications Studies from the University of Southern Indiana and resides in Evansville, IN with his wife and 2 daughters.