Gen X, Baby Boomers, and Millennials

UK workplaces are seeing big changes as they work to meet the needs of different generations. A recent survey sheds light on what employees across various age groups want from their jobs, with a particular focus on Gen Z, who are bringing new expectations around flexibility and purpose.

Here’s a quick overview of the generations currently in the workplace:

  • Baby Boomers (born 1946-1964): Aged between 59 and 77, Baby Boomers typically value stability and long-term careers.
  • Gen X (born 1965-1980): Aged in their early 40s to late 50s, Gen X employees tend to prioritise job security and steady growth.
  • Millennials (born 1981-1996): In their late 20s to early 40s, Millennials seek work-life balance and a sense of purpose.
  • Gen Z (born 1997-2012): The youngest in the workforce, usually in their early 20s, Gen Z places a high priority on flexibility, fair pay and meaningful work.

Gen Z: The New Expectations

Gen Z, the newest group to join the workforce, has brought different expectations, especially around pay and workplace purpose.:

  • Salary expectations are high
  • Preference for pay over job security
  • Willing to switch jobs for better pay

Gen Z is not only focused on salary; they also want to work for companies that align with their personal values, especially in areas like social impact and the environment.

Millennials: Balancing Purpose with Flexibility

Millennials are looking for a balance between career growth and work-life balance. Shaped by economic changes in recent decades, Millennials value:

  • Pay and job security in balance
  • Opportunities to grow
  • Social and environmental responsibility.

Employers can connect with Millennials by promoting a supportive culture that values growth, collaboration and flexibility.

Gen X: Stability and Recognition

Gen X workers, who now fill many senior positions, often value stability and clear growth opportunities. Unlike Gen Z and Millennials, Gen X tends to prioritise:

  • Job security
  • Fair pay and loyalty.
  • Opportunities for growth without frequent changes

To retain Gen X employees, employers can offer fair compensation, stability and recognise their efforts and experience.

Baby Boomers: Stability and Legacy

Baby Boomers, many of whom are nearing retirement, typically value stability and long-term roles. This group often seeks:

  • Job security and consistency: Baby Boomers tend to prioritize job security over pay (22% would negotiate pay).
  • Recognition of their experience: They appreciate when employers value their knowledge and loyalty.
  • Mentorship opportunities: Many Baby Boomers enjoy roles where they can share their expertise and mentor younger colleagues.

For employers, retaining Baby Boomers means respecting their experience, offering stability, and creating options for phased retirement or mentorship roles.

How Employers Can Engage All Generations

Gen Z, in particular, is adding pressure on businesses that are already dealing with budget limits and skill shortages but here are some ways to help attract and retain talent.

  1. Flexible Pay and Benefits
    When raising salaries isn’t possible, extra benefits like remote work, extra leave, or professional development are attractive to Gen Z and Millennials For Gen X and Baby Boomers, options like retirement benefits or healthcare additions can be more appealing.
  2. Provide Meaningful Work
    Both Gen Z and Millennials want jobs with purpose, so employers can help by clearly showing how their work contributes to broader company goals. This can include highlighting any social or environmental work the company supports.
  3. Recognise Experience and Offer Stability
    Gen X and Baby Boomers are often motivated by job security and loyalty, so retention strategies should focus on recognising their contributions and offering stability. Employers might also provide mentorship roles that allow them to share their knowledge.
  4. Support Growth and Learning
    Millennials and Gen Z are especially keen on continuous learning. Employers can meet this need by offering access to certifications, training and education, or by creating clear steps for career advancement.

To build a strong and engaged workforce, employers need to understand and respect the different priorities of each generation. By tailoring policies to address these needs, companies can create a positive workplace culture where employees from all generations feel motivated and valued.