September 2023 Business Finance Assignment
Discusss about student post
Minimum of 150 words apa format
Baby Boomers, born between 1946-1964, are known for their workaholic natures and team work. Because they work hard to achieve moving up the ladder and gaining higher titles, they expect the money and financial rewards that come with it. Most baby boomers have years of service with their companies and can have a powerful impact on achieving company goals, they value being needed and having a positive remark made to them. Most of their parents came from the war era and so in order to gain ground you need to put forth everything you have to gain higher rewards for the latter part of life. The later baby boomers that are still too young to retire have seen the evolution of computers to now seeing technology taking off in the form of smart phones and such. Although most are becoming uneasy with technology now, they are pretty confident in their own skills yet that they’ll still put forth all they have in order to stay on top as long as possible for title recognition and money.
Generation Y, born between 1981-2000, are very goal oriented and ready to move on to the next project. They take the let’s get it done approach and are motivated by fulfillment and working with other like minded people. They’re motivated by meaningful work and having something at the push of a button. They aren’t driven by money but rather building on skills they have and in a work environment they can thrive. Feedback is important to them for motivation to expand on a task.
Boomers and Gen Y both are team players and feel that is the way to build a strong foundation on getting work done. Multi-tasking is not a problem with either of these generations nor is the approach of gaining a satisfaction of their jobs. As for rewards and recognition, both gens are willing to discuss and come to an agreement salaries and such.
Gen X, born between 1965 to 1980, need structure and direction. They’re not afraid to work hard. A lot due to the recession of the 80’s and then hit again in their prime by 2009. So hard work was essential. From these hits, they learned to become self reliant and jump right into a task their own way. Taking on a difficult challenge, possibly breaking the rules to get it done, and then asking how they did greatly encourages them to take on the next. Motivation for them is to get the task done and gain freedom. Motivation also takes on bigger meaning when the company offers childcare tax exempt programs. The older gen x probably has children that are grown however so motivation for them is more time off due to having a more disposable income and being able to have extra freedom.
Gen X is completely different than Boomers and Y because they’re not really motivated by position or even working as a team. Most dig right in on their own and worry about the rest later. They need to know HOW they are doing rather than hearing that they are good or gaining more funds. Team work isn’t real high on the list for them as they see it as all in for yourself.
The differences between these different ethnic groups of people are their values and what they perceive as top priority for themselves. Baby boomers were raised to work hard and even harder to get all you want. Gen Y are kind of in between Boomers and X. They want meaningful structure and to be with other people of same background. X just wants to get it done and over with and move on to gain freedom.
Companies now more than ever need to recognize the wide range of workforce and the diversity that comes with three generations working side by side. You have three different types of backgrounds whose values and ethics differ quite a bit. You will want the younger generation to learn from both the boomers and gen Y. Boomers offer straight to the point and Y can add to that the ambition to get the job done and reap the rewards of that freedom. Offering different incentives, a strong leader who can adapt to all three generation for peace will be a driving factor.
Generational Motivation Differences at the Workplace. (2015, February 06). Retrieved April 04, 2017, from http://www.goldbeck.com/hrblog/motivational-differences-between-the-generations-x-y-and-baby-boomers/