Today, Millennials make up 35% of the US workforce and will make up 75% of the global workforce by 2025! That means the current workforce is multigenerational spanning across five different generations that include Traditionalists, Baby Boomers, Gen X, Millennials and Gen Z. This is due to a variety of factors but more recently due to impacts of the pandemic along with economic changes that has caused members of other generations to stay in the workforce longer than previously assumed.
At Calendly, we believe in Starting with Human and the value of having an inclusive environment as it promotes innovation, productivity and so much more. As part of our DEI journey, we continue to learn how to support our people and much of that starts with learning about what makes each generation in our workforce tick. As we were recently recognized as one of Fortune’s Best Places to Work for Millennials, we wanted to share some interesting facts about each generation making up the current workforce to help companies like us continue to learn how to motivate and support each group.
At Calendly, we don’t currently have representation from this generation as they only make up just 2% of the current workforce and in turn they are the smallest generation currently making up the US workforce. This small but mighty group is known for their dependability and tactfulness. They’re motivated by recognition and feel most appreciated if they can provide a company long-term value with the work they are performing. Companies should provide Traditionalists with work that is meaningful and impactful to the company to see their true passion shine through.
Baby Boomers make up a quarter of the current workforce and are the third-largest generation in the workplace at this time. Baby Boomers provide some great characteristics to a company’s culture, being that they are known for being optimistic and team-oriented. They are motivated by teamwork and company loyalty. To ensure Baby Boomers feel supported at their workplace, companies should consider putting them in mentor roles and provide them with specific goals and deadlines, which motivates them the most.
Generation X is the second-largest generation in today’s workforce with 33%. This generation is known to be very independent but flexible with their working style. Generation X is highly motivated by diversity in the workplace, along with being provided a good work-life balance. Because of this, it’s important for companies to value work-life balance for their people. Generation X also works best when they are provided with immediate feedback on their performance.
Making up over 35% of the current workforce, Millennials are currently the largest generation in the workplace and will make up 75% of the global workforce by 2025. Just like Generation X, Millennials value companies who provide a good work-life balance. Millennials are motivated by the quality of their manager and having the opportunity to work on unique projects. To experience the best of what Millennials can bring to the workplace, companies should put an emphasis on getting to know their people personally and being flexible with their work schedules.
The newest on the scene to the workforce is Generation Z. Although they currently only make up about 5% of the workforce, they are expected to make up to 27% of the workforce by 2025. You can expect this generation to be progressive and have more of a global viewpoint. Generation Z is somewhat similar to Generation X, as they are both highly motivated by companies that put an emphasis on diversity. Generation Z looks to work at companies that allow them to be creative and show their personalities in their roles. They, along with Millennials and Generation X, are looking to companies to provide a good work-life balance, while allowing them to be independent.
While there are similar characteristics across all of these generations, it is important to understand the nuances. Some companies have seen great success with multigenerational teams and have even formalized internal programs for different generations to mentor and work together. Different experiences, insights and motivators help to create a balanced and high performing team. And what company doesn’t want that?!