Engaging Multigenerational and Multicultural Teams in the 21st Century

World@Work recently issued a report on Rewarding a Multigenerational Workforce, which included these findings:
“There is, at best, an awareness of differing generational needs by total rewards professionals. There does not appear, however, to be a concerted effort to proactively go beyond this recognition. The survey reveals that 56% of organizations do not consider generational differences when designing total rewards programs, implying that they may not feel a pressing need to address each generation uniquely or perhaps don’t have the tools to automate and manage the process. The survey also finds that 80% do not have an organization-wide strategy that calls for consideration of a multigenerational workforce when designing, administering or communicating total rewards programs.”

World@Work’s benefits practice leader commented on the findings: “The lack of attention to generational differences could thwart efforts to attract, motivate and retain top talent. Companies will soon have to confront the need for a rewards strategy to meet the diverse needs of a multigenerational workforce.”

But what should that multigenerational rewards strategy look like? Are you looking for ways to recognize and reward all of your employees appropriately, meaningfully and personally – from all generations and cultures?

Globoforce recently issued our latest white paper: “The New Era of Strategic Recognition: Engaging Multi-Generational and Multicultural Teams in the 21st Century Global Workforce.”

Not only does this paper highlight the differences in rewards and recognition needs for the four generations (Silents, Boomers, Gen X and Gen Y), but it also offers tips on how to incorporate your company vision, values and messages into a strategic recognition program that acts as a bridge between the various generations, global cultures, and even company positions common in today’s distributed organizations.

We also guide you through four key elements for successful strategic recognition in the 21st century – making recognition frequent and timely, based on your values, available to all, and measurable.

I’ll be blogging in more detail about some of the latest research and articles on the generational differences in the workplace next week. Stay tuned and join the conversation in comments.

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