Wellbeing Strategies for an Inclusive, Multigenerational Organization

E-BOOK

Understanding your workforce is one of the best ways to create a truly great employee experience.But what if that workforce spans in age from 20 to 80 years old and is made up of several distinct groups, each with their own skill sets, expectations, and needs?

With older generations continuing to work and a new crop of fresh faces about to enter the job market, this is the exact scenario today’s employers are facing. Baby boomers, Generation X, millennials, and Generation Z are all working alongside each other — and bringing their opinions with them. Smart business leaders will recognize the opportunity to leverage the unique skills of each generational cohort. But they will need to ensure that their organization is set up to give everyone the chance to succeed.

Not everyone will fit neatly into one category or the other. But understanding where each generation is coming from and what they’re expecting from their employer can help your business hire, retain, and engage with today’s top talent.

Read on to learn more about the unique preferences, working styles, and characteristics of each generation.

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Baby BoomersIn 1994, only 11.9% of the labor force was age 55 and older, representing the smallest percentage of workers compared to other age groups.

By 2024, nearly one in four workers is projected to be 55 and older, when this age group will comprise the largest percentage of workers compared to the other age groups.

So why the increase in older workers? It can be attributed to a few factors: • The Baby Boom: From 1946 to 1964, the post-World War

II era saw a huge increase in births, known as the “baby boom.” In America alone, 76 million people were born during this time frame, representing 29% of the population.

• Life Expectancy: By the year 2060, the number of Americans ages 65 and older is expected to reach 95 million, nearly double from 52 million in 2018.

• Rising Retirement Age: Almost every developed country around the world is raising the minimum age at which an individual is eligible to receive retirement benefits.

• Financial Insecurity: While financial insecurity can impact a worker’s ability to retire around the world, Americans are woefully behind on saving for retirement. The U.S. Government Accountability Office estimates that 48% of adults 55 and older have no retirement savings at all.

• The Will to Work: Advancements in medicine and technology are allowing people to not only live longer, but to live better as they age. And the desire to continue learning and contributing to society does not diminish as one ages. In fact, AARP found that workers over 50 years of age are the most engaged when compared to every other generation.

These statistics paint a clear picture for employers. There’s a large portion of the population reaching the 55+ age category. People are living longer and better. Employees are working longer to save up for and to receive retirement. And, they have a lot to offer.

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• Emotional stability• Complex problem-solving skills• Nuanced thinking• High emotional intelligence• Institutional know-how

Smart business leaders will create opportunities for boomer talent. Not just because adapting workplace culture and hiring practices to accommodate these workers will become a necessity as this population grows, but because these leaders recognize the benefits that these experienced employees bring to their business.

Stay ahead of the curve with strategies that create a welcoming work environment for employees of all ages.

Here’s how:

Avoid Ageism with Inclusive Hiring PracticesUnfortunately, older employees often face workplace hurdles like unfair displacement and hiring discrimination, as well as lack of support and team inclusion. Regardless of laws, ageism – prejudice, discrimination and stereotyping against a person’s age – is still prevalent.

Employers need to be cognizant of inclusivity when hiring and avoid using language in job postings like “young” or “recent grads,” which excludes more experienced workers.

And, while it may be tempting to replace a seasoned, high-earning worker with someone younger and less expensive, businesses may come out short in the end. Hiring new talent is costly, and younger workers tend to be less loyal to their jobs. Instead of displacing older workers and risking high attrition and onboarding costs, employers should focus on retaining their older, more experienced workers and expanding career pathways to allow them to continue to develop their skills and mentor younger workers.

Adapt Your Wellbeing SolutionsEmployee wellbeing programs are creating healthier, happier employees and improving workplace culture for the better. But employers need to ensure they’re creating an engaging culture that appeals to all generations of workers.

Learn to Leverage the Unique Skills of Boomer Talent

Employers and businesses can benefit from embracing boomers – they just need to understand their value. When compared with younger generations, workers in the boomer generation often possess:

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According to research, the top 3 wellbeing priorities for baby boomers are:

Maintaining relationships

Nutrition

Sleep

Their top 3 obstacles to wellbeing are:

Workplace stress

Motivation

Unmanageable work hours

Provide Benefits for Every Stage of LifeMany workers in their 50s and 60s are providing eldercare for aging family members, which can negatively affect their health, finances and stress levels. In some cases, it forces them to give up their careers earlier than planned. Adding benefits like caregiver leave or creating a more flexible work environment – whether it’s flexible work hours or an opportunity to work remotely – can give boomers the time they need to focus on their loved ones while continuing to contribute to the workforce.

Ergonomic workstations are important to maintaining the health of your employees – no matter their age. Follow best practices to create comfortable computer stations and provide remote employees with tips and resources – such as embedding a solution like Kaia Health into your digital health platform – to promote musculoskeletal health. To accommodate warehouse and factory employees, get some tips from BMW. The German car company increased quality and productivity by incorporating better flooring, orthopedic footwear, adjustable worktables and other modifications to reduce physical strain on older workers.

Create Learning OpportunitiesTechnology evolves rapidly, and employees of any age can be left behind. Not only that, 94% of employees – regardless of age – say they would stay at a company longer if it invested in their career. For learning and development to work, educational resources and skill-building opportunities should be made available for employees to learn at their own pace. And, most importantly, managers need to be invested in their employees’ success and help them create time to learn.

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Generation XCategorized by Pew Research Center as those born from 1964 to 1980, Gen X is the seldom-discussed generation sandwiched between baby boomers and millennials.

Despite being eclipsed by their larger and more headline-making neighbors, Gen Xers should not be overlooked. 

Generation X: Fast Facts• Generation X is also known as the MTV Generation or the

latchkey generation. They earned their nicknames due to the increase in divorce rates and the rise of women entering the workforce, leaving many Gen Xers unsupervised after school.

• Gen Xers number around 66 million people between the ages of 41 and 56.

• The computer revolution was just gaining ground when Gen Xers were growing up, but many younger Gen Xers had computers at home and school.

Early Influences Around the World• United Kingdom: In the U.K., Gen Xers were nicknamed

“Thatcher’s children,” growing up during a time of rising social tensions when Prime Minister Margaret Thatcher was in power from 1979 to 1990. At a young age, at least one in three Gen Xers in the U.K. lived in council housing—government-provided housing for those with low-incomes.

• Australia: The parents of Australian Gen Xers were the “most divorced generation in Australian history,” according to a report from McCrindle Research.

• United States: Nearly a quarter of U.S. Gen Xers lived in rural areas when aged 6 to 21, during a time when Americans were having fewer children.

• South Africa: South African Gen Xers were influenced by the “hyper-politicized environment of the final years of apartheid.”

• Russia: Russian Gen Xers were the last to grow up prior to the demise of communism and collapse of the Soviet Union, becoming known as “the last Soviet children.”

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Generation X in the Workplace

Time will tell if Generation X will ever get the spotlight, but research continues to show that they’re strong-willed, independent, successful and balanced.

And while other generations are empty nesters or have yet to start a family, Gen X currently has their hands full. According to MarketWatch, “more than 75% of Gen Xers have children; and nearly half have both a parent who’s over 65 and a child.” Yet, as adults, Gen Xers are reported to be “active, balanced and happy,” with just 4% reporting a “great deal of unhappiness.”

Even though they’re happy, Gen Xers are cognizant of the lack of recognition their group has received — both in the media and the workplace. Gen Xer and Forbes Agency Council contributor Angela Woo elaborates: ”This cultural backdrop has defined a ‘work hard, play hard’ generation that is now at the pinnacle of their careers. Many of us are homeowners and have families of our own. So, here we sit in this powerful time with money, resources, and influence, and we still aren’t in the mainstream conversation. We’ve watched the culture interest shift from boomers to millennials like we’re a flyover state.”

Here are the key issues facing Generation X and what they want their employers to know.

They’re Just as Tech-Savvy as Millennials

Though Gen Z and millennials are known to be tech-savvy, according to a 2016 Nielsen report, Gen X is actually the most connected generation, spending almost 7 hours a week on social media. Fifty-four percent of Gen Xers report being digitally savvy, and compared to millennials, they’re also likelier to log “more time on every type of device.”

More than 70% of Gen Xers across the globe think their employer’s digital capabilities are important, but only 40% thought these capabilities were actually high. While their technical aptitude is often underestimated, this generation is plugged in and knowledgeable.

Digital communication is an effective way to reach this generation, but be mindful of their inability to disconnect. Encourage good work-life balance by discouraging weekend emails or notifications.

Social networking through a wellbeing app is a great way for this social-media savvy generation to build new relationships and engage with their peers.

Gen Xers have kept pace with significant technological advances during their lifetime. Offer learning and development opportunities to serve their interests and boost their skill sets further.

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They’re Not Ready for RetirementWhen it comes to finances, only 59% of Gen Xers are confident in their situation. Of Gen Xers studied globally, their highest concerns were “not being able to enjoy retirement, getting stuck with no opportunities or losing job security,” with retirement being the top concern for respondents in the UK, U.S. and Spain.

• 401ks, and especially a matching program, will be a very attractive benefit to this generation.

• Verbal recognition is incredibly important to this generation, but with finances being of such a high concern, a little financial recognition could go a long way. Consider a yearly bonus structure or a wellbeing program that offers cash incentives to adopt healthy behaviors and hit target health goals.

Gen Xers Are Great LeadersResearch shows 51% of global leadership and more than two-thirds of Fortune 500 CEOs are Gen Xers. This seasoned group of professionals averages 20 years of work experience — and it’s clear they have a knack for leadership. Global leadership consulting firm DDI says Gen X really thrives in leadership roles: “Gen X leaders’ strength for working with others enables them to shape the future of work and generate faster innovation by getting people working together to solve customers’ and their organization’s issues. The large majority (69%) are effective in hyper-collaboration and working to break down organizational silos.”

In a global study of 18,000 participants from 19 countries, 63% of Gen X men and 52% of Gen X women said becoming a leader was important to them. And they don’t just want to become leaders for the responsibility — they’re more excited about the coaching and mentoring opportunities it brings.

The study also found Gen Xers in all countries were “worried about achieving work-life balance,” an issue that is heightened for German, Swiss and Emirati Gen Xers. In line with their lack of mainstream recognition, Gen X leaders tend to have more direct reports than millennial leaders, but their “advancement rate is slower” and they’re the “most overlooked for promotion.” This could be the reason 54% of Gen Xers are stressed at work, a higher percentage than millennials and baby boomers.

• How clear are the career paths at your organization? Make your company more appealing to this talented generation by providing a clear path to leadership roles. Don’t have room for more leaders? Structure roles so that they have mentoring opportunities built in.

• A thorough, regular review cycle can help prevent promotions from falling through the cracks.

• Offer a wellbeing program with stress management initiatives to help this generation perform at their best.

Gen Xers are Not Looking to Hop AroundGeneration X is made up of loyal, independent, and adaptable employees who don’t need micromanaging. They’re willing and able to accept and conquer whatever challenge they’re entrusted with — so, employers, it’s time to recognize them.

Generation X is made up of loyal, independent, and adaptable employees who don’t need micromanaging.

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Millennials

Whether you take a side or not, it’s essential for today’s businesses to attract and retain millennials. Millennials — those born between 1981 and 1996 — are the largest generation of the U.S. labor force, poised to become even bigger than baby boomers. What makes this alarming for employers is that 76% are open to new opportunities and 43% of millennials in the workforce plan to quit their current job within two years, despite two-thirds of workers reporting being satisfied or very satisfied with current job happiness.

Get Millennials in the Door With Mobile-Friendly HiringYes, millennials are usually on their phones, but that means they’re also searching and applying for jobs on their phones, too.

Streamlining your hiring process can also give you a leg up against the competition. Throughout the hiring process, millennials are likely juggling multiple job offers. If you find a good fit, you’ll need to move quickly to close the deal. Consider offering a signing bonus to set you apart from the competition.

Millennials: Fast Facts

Pew Research Center recently determined a cutoff year for millennials — defining the generation as anyone born between the years 1981 and 1996.

Compared to previous generations, millennials are more likely to live at home, with 15% still living with their parents in 2018 — close to double the numbers of baby boomers and the Silent Generation at that age. With the added economic pressure brought on by the COVID-19 pandemic, the number of millennials cohabitating with their parents has only grown.

Many older millennials entered the workforce during the Great Recession, setting them up for a difficult financial future. Now, millennials are facing another economic downturn in the wake of COVID-19.

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Millennials are a hot workplace topic. For every article that claims they’re lazy and entitled, there’s a report showing that they’re working harder for less money than previous generations.

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Although they might be different than previous generations, millennials have a lot to offer. By understanding how they think and what they’re looking for, employers can not only hire great talent, but get them to stay. 

Benefits are a Deciding FactorAccording to a survey by LaSalle Network, better benefits are one of the top three reasons that millennials will leave one job for another. But, what those look like can vary immensely. Remember, their generation spans a large age range. While student loan assistance may be a priority to recent college grads, maternity/paternity leave may be a game changer for others. Ensure your benefit offerings are competitive within the marketplace, engage with your employees and ask for feedback.

Wellbeing Programs Will Set You ApartMillennials value wellness. They are smoking less, exercising more and eating healthier than previous generations. Not to mention they’re laden with financial woes, combating burnout and have higher levels of anxiety than older generations. And they expect their employer to offer resources to cope.

A company culture that values holistic wellbeing and addresses these pain points is essential if you want to be a contender. If you don’t already have a robust workplace wellbeing program that includes a wellbeing app and personalized experiences, now is the time to get one.

Invest in a platform that personalizes each employee’s experience and meets them wherever they are on their wellbeing journey. It also helps employees access the right benefits, resources and tools at the right time with recommendations that are unique to each individual’s needs and interests.

Will Move for Work PerksDon’t underestimate the smaller things. A study found that 65% of millennials would take a job that offered a 10% lower salary if the position offered significantly better benefits. Certain perks like work-from-home options and flexible schedules mean a lot to millennials, as they value their work-life balance. And with health and wellness being top priorities for many millennials, offering reimbursements for gym memberships or access to virtual mindfulness tools will support employee retention while keeping these members of your workforce engaged and productive.

Ensure your benefit offerings are competitive within the marketplace, engage with your employees, and ask for feedback.

Don’t Overlook Ethics and Leadership

A study found that only 48% of millennials polled believe corporations behave ethically. And corporate reputation and social impact efforts are important to more than 90% of millennials.

Take a hard look at your company’s values and corporate philanthropy efforts. If there’s room for improvement, now might be the time to take action.

Attracting and retaining millennials may pose some challenges for employers, but addressing these concerns will only make your organization stronger. After all, millennials are leading the digital future and have already reshaped the way we buy and sell. Embrace their differences and make your company a great place to work in the process.

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04

Generation ZLookout, employers — Generation Z (Gen Z) has joined the workforce! While everyone was focusing on millennials, this new generation crept into the workplace and is just beginning to define itself.

Categorized as those born after 1996, Gen Z — also known as Generation Z, iGen, post-millennials, and Homelanders — is the generation immediately following millennials.

Currently aged 24 and under and the most ethnically and racially diverse generation, Gen Z is poised to make a splash in the business world.

Gen Z is still young, so in order to understand this group better, there’s a lot of research on the horizon. But early indicators point to some key differences — especially when compared to their millennial predecessors.

Highly Educated, But Lacking ExperienceIt’s predicted that Gen Z will be the best-educated generation yet. Research shows 80% of Gen Zers aged 18 to 20 have graduated high school — a rate slightly higher than previous generations — and their college enrollment rate is much higher than millennials at that age.

While they might be the most-educated generation, they’re an inexperienced workforce compared to many generations that came before. Research shows only 58% of Gen Zers age 18 to 21 worked in 2018, compared to 72% of millennials who did at that age. Unlike previous generations, their employment history is also less likely to include full-time work, so a standard nine-to-five will be new for them.

Employees should be open to more flexible work environments to accommodate Gen Z, but expectations also need to be set. Establish the ground rules early so Gen Z can learn the ropes and understand how the business world functions.

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They Grew Up With Technology

Gen Z grew up in an age when TV, internet, and iPhones were already well established, so technology is their norm.

“Technology, in particular the rapid evolution of how people communicate and interact, is another generation-shaping consideration,” according to Pew Research Center. They’re the most technologically savvy generation to date, but they’re also willing to help; nearly 77% of Gen Zers would mentor an older coworker with technology.

It can be difficult for employers — and even employees — to keep up with evolving technology that frequently changes how business is done, but outdated business technology will be a difficult pill for Gen Zers to swallow. They want and expect instant gratification when it comes to technology, and many are searching for revolutionary tech jobs.

A stuffy workplace with countless paper trails and pointless meetings will send Gen Z talent running, so companies have to adopt new technologies to appeal to them. Gen Z can help when it comes to updating outdated technology, but to even get them in the door, employers have to display a careers page and application process that’s mobile-friendly, as well as a diverse, equitable and inclusive culture.

While they excel at digital communication, they are not as confident with in-person networking. Offer soft skill development and ways for them to get to know their coworkers one-on-one.

Help Gen Z engage with their peers and develop simple healthy habits with a robust digital wellbeing platform. For those members of your Gen Z workforce who need additional support with chronic disease prevention, financial wellness, one-on-one health coaching or comprehending their benefits, seamlessly interweaving it all in one platform will motivate them to keep their own wellbeing top of mind.

What Do They Want? Promotions. When Do They Want Them? Now.

Surely an employee doesn’t expect a promotion within the first year of starting their first job. Well, 76% of Gen Zers do, and 32% believe it’s deserved within the first six months. These statistics — however startling — mean there’s a learning curve for both parties involved.

In lieu of fast-tracked promotions, recognition will go a long way with this group. Outside of verbal recognition by managers and peers, incentives and rewards offered through a wellbeing program offer a tangible, motivating experience in the workplace.

Gen Zers have an ambitious and entrepreneurial spirit — 72% of those in high school want to start their own business, and 60% of Gen Zers wants to be a manager — but they lack soft skills and business knowledge. However, this generation wants coaching, and 89% expect their boss to provide feedback. They’re like sponges, so teach them, empower them and don’t forget to reward them.

Technology, in particular the rapid evolution of how people communicate and interact, is another generation-shaping consideration.

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Ambitious, But Planning For The FutureMillennials entered the workforce during an economic recession, and while it isn’t clear if Gen Z learned from the struggle of their predecessors, they’re definitely a pragmatic generation. Forbes contributor Deep Patel explains, “They care about making a difference, but are ultimately motivated by ensuring they have a secure life outside of work.”

• Ultimately, Gen Zers are ambitious — they want to progress their careers. Employers should frequently communicate the current and future job outlooks and make career paths clear.

• Financial wellbeing ranks high to this generation, so your wellbeing program and benefits package should reflect that.

Ultimately, communication is key when it comes to Gen Z; they’re used to being constantly connected and they want consistent, timely feedback. As Gen Zers continue to enter the workforce, employers should keep a close eye in the hopes of understanding this younger generation better.

Gen Zers are ambitious — they want to progress their careers. Employers should frequently communicate the current and future job outlooks and make career paths clear.

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Help each member of your multigenerational workforce succeed in work and wellbeing. Start building your organization’s Homebase for Health™ today.

Focused on driving personalized behavior change and results for individuals and organizations around the world, the company delivers the industry’s only fully integrated digital platform, with benefits navigation and live coaching to support global clients and members across the entire health, wellbeing and benefits lifecycle — from screening and assessment to activation, behavior change and the adoption of sustainable healthy habits. By helping employees thrive at work and in all aspects of life, Virgin Pulse helps change lives and businesses for good, across more than 190 countries. More than 4,000 organizations around the world, representing many of the Fortune 500 and Best Places to Work, rely on Virgin Pulse solutions to engage their workforces and drive their businesses forward.

Founded in 2014, the Virgin Pulse Institute is an evidence-based organization that conducts research and advances knowledge on workforce topics like health, wellbeing, and employee engagement. Reaching way beyond ROI studies, The Institute collaborates with leading researchers and other organizations to identify scalable, data-driven, consumer-centric solutions to the top workplace issues facing companies today.

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