For the first time in American history, there are four generations of workers in the workplace. Traditionalists, Baby Boomers, Generation X, and Millennials – each with different characteristics, work habits, expectations, and needs.
According to Deloitte Consulting, LLP as published in their annual employers’ survey, the number one employer challenge cited is:
This concern only encompasses employers’ need to attract qualified employees to RUN their existing organization – not even take it forward in this new economy. And believe it or not for the first time in several years, this concern edged out the cost of providing healthcare coverage to employees.
Even if employers can find the right talent, they recognize that delivering a rewards program uniformly across an enterprise is a logistics challenge that is made more complicated by the multigenerational and life-style driven needs of their workforce.