May 11, 2011
From today’s Herman Trend report (emphasis mine):
The other highlights of the study are fascinating: the least happy of the generations is the Baby Boomers. They expressed the strongest discontent with their employers and the greatest frustration that their loyalty and hard work have been neither recognized nor rewarded. “Almost one-third (32 percent) of Baby Boomers surveyed say a lack of trust in leadership is a top turnover trigger—the highest ranking by any workforce generation.”
Employers are most vulnerable to lose their Generation X workers. Lack of career progress is their top exit trigger (65 percent). Only 28 percent of Gen X employees surveyed expect to stay. This intention to leave is a clear signal to employers to expect a significant exodus by employees viewed as future leaders.
For the Millennials, their employers’ commitment to "corporate responsibility/volunteerism" was very important. Millennials are also nearly three times more likely to say a "fun work environment" is important than their Baby Boomers counterparts.
On the other hand, “employees who plan to stay with their current employers (35 percent) say their companies have strong talent programs, characterized by clear career paths, leadership development initiatives, trust and confidence in corporate leadership, superior programs to retain top talent, and effective communication.”
Did you catch that last topic? Communication – this is almost a free move for any company, but it requires commitment. The Gen X’ers are a generally skeptical bunch as I can attest – I am one. I value all of the programs listed, yet it all starts with effective communication within the company and specifically within the manager-employee relationship.