In Canada, the average salary is expected to increase only 3.1 per cent in 2014. Various trends continue to replace straight-up salary increases, such as targeting top performers with bonuses and enhanced reward programs. In fact, this trend toward softer, intangible benefits from companies is exactly what we Canadians have been asking for.
There's a lot of talk about how to engage Millenials and Gen X out there, but little is being said about how to engage an aging workforce and the Boomers. Boomers are at the stage in their career where they're starting to think about the legacy they leave behind, the challenges they overcame and the success that they built. It may not be easy, but its the right time to tap into this and use it to your company's advantage.
Many analyses of Gen Y seem to merely entrap themselves in the dichotomy between labelling young people as "lazy" or claiming that young people have an opportunity to reshape the world in which they live. As young people, we can either decide to conform to or alter the content of our society, or we can go a step further and assume the courage to discuss ways in which the form of our society may be what is holding us back.
Recent graduates have traditionally been able to take time to learn on the job, working under the protection of more seasoned employees. But once things turn around and Boomers leave, these unemployed will be asked to jump right into the organization, and they will not have had the benefit of time. Is your organization prepared for this?
It is becoming increasingly important for us to be able to work across generations in the workplace. The Boomers are starting to leave, Gen X is more than ready to assume more of the leadership roles, and Gen Y is getting antsy. In keeping with that thinking, I am suggesting that as Gen X leaders, we keep these five tips in mind as we prepare to lead the Gen Y workforce.
David McCullough Jr. recently gave a commencement address, in which he told the students the cold, hard reality that "none of you is special." Who is to blame for this? Maybe those very same parents and teachers who are so quick to accuse us of it. The baby boomers, with the best intentions, have made us into what we are today: a generation of spoiled individuals. Why are they surprised?