We’re living in a time when multiple generations are working together, and it’s important to ensure that every employee feels included and appreciated. Considering different generations in your company policy can be critical in driving employee happiness and retention.
There’s no one-size-fits-all approach. But to help you on your way, here’s a low-down on the habits and expectations of the different members of your workforce.
Baby Boomers (born mid-1940s to mid-1960s)
Many Baby Boomers have remained in one or two jobs their entire working lives. They have been in the workforce the longest, so expectations and values tend to revolve around wealth generation, status and retirement benefits.
Boomers have worked hard to climb corporate ladders and achieve rewards in the form of company cars and class of travel. They may see benefits such as the ability to work from home and trips that combine work and leisure as unnecessary.
Generation X (born mid-1960s to early-1980s)
Generation X-ers are midway through their careers and are likely in their peak earning years. Many have strong college degrees—and associated debt. Generation X may place less emphasis on a safe and comfortable retirement.
Researchers suggest that these things lead to a balanced work ethic. This generation has a concern for wealth and loyalty, but they also value work benefits. A corporate policy that focuses on financial gains, however, is likely to be favoured over those with peripheral benefits.
Millennials (born early-1980s to mid-1990s)
Millennials have made a notable move away from unrelenting company loyalty, with greater emphasis on lifestyle-centred work benefits. Newer companies try to appeal to this generation with unlimited vacation days, on-site meals at all hours, options to combine personal travel with business trips and the ability to work remotely.
Millennials have also seen the rise of technology in the workplace. They are constantly connected to their phones, and apps such as Uber and Uber Eats have made their way into corporate policies to transport and feed employees through platforms like Uber for Business.
Generation Z (born mid-1990s to early-2010s)
Generation Z is disrupting industries, thanks to advanced technological awareness and hyper-connectivity. Many of these employees place greater importance on work-life balance. More peripheral benefits and freedom, like “bleisure” trips and workplace perks, trump status symbols and sometimes even salaries.
Environmental sustainability and social responsibility are also hot topics. Incorporating greener travel options such as electric vehicles or bicycles into your corporate policies may help attract and retain Gen Z talent.
It’s key for organisations to consider their rapidly shifting and diversifying workforces when crafting their corporate policies. Uber for Business has several solutions to move your business forward, for all generations. Click here to learn more.