Managing the Generation Gap
Salary, Benefits & Rewards
In a workplace made up of four generations, each at distinctly different stages of life, the subject of benefits and pay can be tricky to navigate. In fact, HR professionals say that vastly different needs among the generations are causing companies to offer a wider range of incentives with more flexibility than ever before, according to a recent Society for Human Resource Management survey. Experts suggest offering a diverse sample of options across the board. So, how can you choose what offerings best fit your workplace? Here are some important areas to consider.
Compensation
This is a hot issue with all generations in the workplace. Many Traditionalists and Baby Boomers are choosing to remain in the workforce, though many of them opt for a drastic career change like moving from the corporate world to driving a truck cross-country. Even when they select a new field or position, workers in these groups tend to feel that compensation should favor those with more years of experience in the workforce. On the other hand. Gen X and Gen Y argue that knowledge, training and capability should get top dollar, regardless of years of experience. That’s why offering top compensation is important for attracting and retaining the best candidates across the generational span.
Retirement
Even if they are choosing to remain in the workforce, Traditionalists and Boomers are approaching or passing retirement age. So, their needs for retirement savings will differ vastly from the younger generations just entering the workforce. Gen X and Gen Y realize the importance of saving for the future, but many don’t know much about their options. They want retirement savings plans that are easy to manage. To meet needs across the generations, it’s important to offer a variety of options for savings and retirement. But, also consider offering access to professional financial counsel on what plans fit each worker best for their stage in life.
Health & Wellness
Health benefits are a top priority for workers across the generations. The availability of paid health benefits can be a deciding factor in whether or not members from any generation will join or remain at your company. That’s why, despite the rising cost of healthcare, more companies are adding a variety of health and wellness programs each year to appeal to the needs of each generation. Some offer prenatal care, extended maternity leave, smoking cessation programs, health screening programs, and fitness incentives. Other popular options include health savings accounts and optional insurance such as vision, cancer, or chiropractic.
Work/Life Programs
Though Traditionalists and Boomers typically gravitate toward traditional work schedules, many are opting to use flexible work schedules as they approach retirement age. Flexibility is also top priority for both Gen X and Gen Y, who value work/life balance and family time. Flexible work programs may need to be flexible themselves to offer options that will appeal widely across your workforce. Many workplaces offer a range of schedule options, from telecommuting to flexible workweeks to job sharing to flextime.
Rewards
Every generation values being rewarded for their efforts. Exactly what incentives will appeal to each generation may vary by personal preference. Traditionalists and Boomers have demonstrated preference for traditional monetary rewards and promotions. Gen X and Gen Y typically prefer rewards such as time off, volunteering opportunities, and parenting incentives. But, they’re also eager to prove their capabilities, and many are motivated by training and development opportunities, as well as traditional promotions. So, offer a range of options to members of each generation because what motivates people varies.
Experts say that offering the most comprehensive pay, benefits, and rewards programs possible is one of your best tools for recruiting and retaining employees in a multigenerational workforce. It can be costly and time-intensive, but keep in mind that your workers are your most valuable resource, and you’ll quickly see that this is an investment that will pay off.
5 Ways to Organize Your Business and Increase Productivity
Bringing Order to Workplace Disorder
“A cluttered desk is a sign of a cluttered mind.” While this well-known saying may not be 100% accurate, what’s true is that a little organization and tidying up can add a lot of productivity and a touch of tranquility to your workplace. The month of March kicks off spring, and with it comes routine spring cleaning.
1. Get Ready. Over time, every business builds up clutter and grows its to-do list. Now is your opportunity to knock out those undone projects and tidy up distracting messes. To get the most out of your spring cleaning efforts, create a plan of action before you begin. Your plan should detail each project you’ll work on, the supplies you’ll need and who will help with each task.
2. Assemble a Team. Next, divide the tasks among your team members, assigning specific roles to each person so that one person is not left with all the work. You can make the time more enjoyable for your employees by designating a specific spring cleaning day and allowing them to come to work in casual clothes that day, ordering pizza and playing music while you work. Creating a fun environment will help your team stay positive and energized as they work through the projects assigned to them.
3. Determine Priorities. If you have only a limited staff or a short time period to dedicate to spring cleaning, it’s particularly important to maximize each moment. That means not letting your team spend two hours color coding office supplies if your top priority is updating the filing system. It’s easy to lose an entire afternoon to low-priority tasks if you’re not careful, so make sure each team member has a clear understanding of the important tasks to work on during the designated time period.
4. Be Realistic. It’s important to set achievable objectives about how much you can accomplish given the amount of time and number of people you have to work with. Expecting too much or too little will hurt your productivity. Team members who have too much work will feel overwhelmed and discouraged. On the other hand, employees who don’t have enough assigned to them will tend to slow their pace or goof off. Realistically, divide tasks based on how labor-intensive they are, instead of by the number of responsibilities each person has.
5. Finish Strong. As your day of spring cleaning progresses, evaluate how your team is coming along with their tasks. Did a particular project end up being more difficult than you anticipated? Shift teams accordingly to meet the demands of the job. Even if you’re unable to finish certain projects, make sure all areas are left neat and safe until the task can be tackled again. Finally, make sure you thank the team for the special effort they made to get the office organized.
Spring cleaning can be a lot of work, but even at the office regular housekeeping is necessary to keep your business running smoothly and efficiently. Taking the time to make a plan, assembling a team and encouraging their progress will ensure your efforts are a success. For a few ideas on spring cleaning projects that might be in order at your workplace, see the tips below.
Spring Clean Your Business from the Inside Out
Make Your Business Look Better and Run Smoother
The type of spring cleaning that can help jumpstart your business involves more than just sweeping away dust bunnies or washing windows. To really get down to the nitty-gritty, you have to organize your business from the inside out. Not sure where to start? Check out the ideas below for getting your office organized.
Inside the Office
- Sort through paper documents and decide what to file, throw away or pass along.
- Delete e-mails you haven’t referred to in more than a few months.
- Clean up your hard drive by deleting files and programs you no longer use.
- Re-evaluate policies and procedures and make necessary updates.
- Back up your computer system.
- Sort through your storage area and donate or discard unused items.
- Update your address books, including your contact information on websites like LinkedIn.
- Shred sensitive documents that are no longer needed.
Outside the Office
- Replace burned out lights.
- Paint over any graffiti defacing your building.
- Repair any holes or cracks in the pavement.
- Spray or pull weeds to give lawns a manicured look.
- Mulch flowerbeds.
- Hire an exterminator to spray for pests.
- Clean the gutters.
- Replace or repair business signage if needed.
Employment Situation Summary
United States
Employment essentially remained steady in January, at 138.1 million jobs, and the unemployment dropped slightly to 4.9%. Average hourly earnings rose by 4 cents. Click here for the most recent employment report from the Bureau of Labor Statistics.
Major Industry Employment for January 2008
• Construction: - 27,000
• Manufacturing: - 28,000
•
Retail Trade: + 11,000
• Professional & Business Services: - 11,000
• Educational & Health Services: + 47,000
• Leisure & Hospitality: + 19,000
• Government: - 18,000
Canada
In January, employment grew by 46,000 jobs, and the unemployment rate fell to 5.8%, a 33-year low. Click here for the most recent employment report from the Statistics Canada.
Major Industry Employment for January 2008
• Construction: + 19,500
• Manufacturing: + 17,500
• Trade: - 26,500
• Transportation & Warehousing: + 100
• Finance, Insurance, Real Estate & Leasing: + 16,200
• Professional, Scientific & Technical Services: + 30,200
• Business, Building & Support Services: - 5,700
• Educational Services: + 2,000
• Health Care & Social Assistance: + 3,900
• Information, Culture & Recreation: - 27,600
•
Accommodation
and Food Services: - 10,900
• Public Administration: + 4,400
e-Xchange is a publication of Express Services, Inc., Oklahoma City, Oklahoma. Copyright 2008.