Yesterday, we got some insights from Laura Fries, managing director and executive vice president at Baker Tilly, on pay strategies to retain up-and-coming Gen Xers. Today, her thoughts on short-term versus long-term pay for different generations.
In the upper reaches of corporate America, the largest generation on record is retiring—and a new generation is getting set to take over. And Gen Xers aren’t looking for the same things, compensation-wise, their Baby Boomer predecessors were.
The problem is compounded, Harrington says, because although Gen Xers do want to move up to the Boomers’ jobs, they don’t want the stress that goes with the jobs. They also want work/life balance, and that creates a conflict. Harrington, founder and president of Purposeful Hire Inc., offered her tips at BLR’s Strategic HR Summit, […]
“This is the most comprehensive quantitative study performed on generations in the workforce,” says Warren Wright, vice president of LifeCourse Associates. Wright adds, “We now know what engages different generations.” The study included Millennials (age 30 and under), Generation X (ages 31 to 51), and Boomers (ages 52 to 69) who are employed full-time. The […]