Generational Performance Rewards

Motivating Performance with Baby Boomers, Gen X and Gen Y

Apr 11, 2007

Choosing incentives that will appeal to all generations (Baby Boomers, Gen X and Gen Y) in an employee population can be a challenge.

Some interesting research out of Kwantlen University College on the intergenerational reward preferences and their implications on business was presented at the British Columbia Human Resources Management Association Symposium (March 2007). This research points out how some rewards or incentives may not motivate certain generations. The impact of this on business is that as there is an employee population shift as baby boomers (born 1946-1967) retire, Gen X (born 1965-1980) are promoted to management and Gen Y(born 1981-2000) are hired into junior roles, incentives will need to address this shift to motivate performance and engagement as well as attract and retain employees.

The research points out that while baby boomers value career building and help to balance priorities, Gen X value building transferable skills and built-in mechanisms for work/life balance now, whereas Gen Y value a synergy between personal values and corporate values.

Some incentives that work across the generations were found to be flextime, telecommuting, amenities, and time off in lieu. Retirement planning and child or elder care is attractive to Gen X or Baby Boomers but Gen Y will take a pass. An informal workplace will appeal to Gen X and Y, but not to Baby Boomers. Gen Y employees will smile when technological advances are implemented whereas Baby Boomers will smile when they are promoted to a position of status.

Google has taken incentives for employee engagement, attraction and retention seriously. In a very dramatic way, they are redefining the world of work as evident by this journalistic view of Google's HR practices.

To view the powerpoint slides of this research presentation, go to this site and choose HRMA Presentation: Intergenerational Reward Preferences Slides.

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