Employers are Increasingly Seeking to Optimize Productivity Across Generations;
Older Workers are More Engaged than Younger Workers, Study Reports
WESTPORT, Conn.--(Business Wire)--
The challenging economy has forced more and more employers to focus on how they
can "do more with less" and increase productivity with their workforces. A new
MetLife Mature Market Institute study, conducted in partnership with Boston
College`s Sloan Center on Aging & Work, indicates that employers have
significant opportunities to maximize the strength of their workforces and
optimize workforce productivity through practices geared to the various
generations.
Entitled Engaging the 21st Century Multi-Generational Workforce, the study
explores the drivers of engagement for employees of different ages, including
demographic characteristics, factors related to the job, and work team factors.
Engagement is defined as a positive, enthusiastic, and affective connection with
work that motivates an employee to invest in getting the job done, not just
"well" but "with excellence."
Summary of Factors Related to the Levels of Engagement by Age/Generational Group
Gen Y`ers/ Younger Gen Older Gen X`ers Younger Boomers Older Boomers/
Millennials X`ers (Born 1965-1971) (Born 1955-1964) Traditionalists
(Born after (Born 1972
(Born before
1980) -1980) 1955)
Gender (female) X
Physical Health X X
Mental Health X X X X
Core Self X X X X X
-Evaluation
Status as a X X X
Supervisor
Number of Work X
Hours
Satisfaction X
with Training
and Development
Access to X
Flexibility
Needed
Supervisor X
Support
Work Overload X
Inclusion X
Job Security X X
The study reports that older workers tend to be more engaged than younger
workers. Among other reasons, the researchers point out that focusing on the
talent management of older individuals is important because they may best relate
to the Baby Boomer customer base responsible for $3.8 trillion of annual
spending in the U.S. Those with the highest levels of engagement were found to
be women, those without elder care responsibilities, those in good physical and
mental health, those with a positive self-perception and those having job
security.
Tool Kit for Employers Accompanies Study
A tool kit is available for employers. Produced by Generations United, a workbook
in the tool kit has action steps and data-informed strategies that can be tailored
to individual organizations.
Also included are in-depth case studies of four organizations, prepared with David
DeLong and Associates, depicting concrete steps that they are taking to
successfully address critical workforce issues.
The findings indicate that employee engagement can be greatly enhanced by simple
and cost-efficient efforts including - providing strong training and development
opportunities, encouraging work team inclusion, offering customized benefits
plans, and promoting a culture of workplace flexibility and supervisor
supportiveness.
One size does not fit all, says the study. For instance, access to flexibility
for work and family responsibility was rated highly by Gen Y employees (those
born after 1980). Younger Gen X`ers (b. 1972 and 1980) look for training and
development opportunities and Older Gen X`ers (b. 1965 and 1971) respond to
having supervisory roles. Younger Boomers (b. 1955 and 1964) are more engaged
when they feel more included in their work team and Older
Boomers/Traditionalists (b. before 1955) are more engaged when their supervisors
are supportive.
"The findings of our study suggest that employers who want to enhance employee
engagement should consider how to update their assumptions about the importance
of the quality of the employment experiences they offer to employees," said
Marcie Pitt-Catsouphes, Ph.D., director of the Sloan Center. "We found that
different factors 'drive' the levels of engagement of different groups of
employees. There is no single solution to low levels of engagement. Therefore,
it is in employers' interests to strengthen multiple aspects of the quality of
employment. Some of these include training and development, workplace
flexibility, compensation and benefits, and relationships with supervisors. It
is worth the effort to invest in organizations' most important asset - their
employees."
Employees can help companies retain a competitive edge by exhibiting creativity,
innovation and the ability to "go the extra mile" to help make products and
processes more efficient and effective. At one company profiled in the study,
the employer implemented a culture shift from one focused on "time" to one
focused on "energy." Employees were provided with resources to help them
strategically align their energy to be more successful at home and at work.
Wellness programs and a supportive work environment helped boost their energy.
"Employers will increasingly place a premium on having fully engaged employees,
as workers who are disengaged represent lost productivity and innovation," said
Sandra Timmermann, Ed.D., director of the MetLife Mature Market Institute.
"Understanding what drives employee engagement, from Boomers to Gen Y, helps
employers stay competitive, especially in challenging economic times."
Methodology
The report, Engaging the 21st Century Multi-Generational Workforce, is part of
the 2007-2008 Age and Generations Study, a national study conducted by the Sloan
Center on Aging & Work at Boston College. It includes information about
employees gathered from nine U.S. workplaces (12 worksites) via online surveys
and written questionnaires on the following topics: employees` perceptions of
their work, organization/department as a whole, work group, supervisor/team
leader, work style and outlook on life. In total, 2,210 employees participated.
The data examines a range of experiences at the workplace.
The Sloan Center on Aging & Work at Boston College
The Sloan Center on Aging & Work at Boston College promotes quality of
employment as an imperative for the 21st century multi-generational workforce.
We integrate evidence from research with insights from workplace experiences to
inform innovative organizational decision-making. Collaborating with business
leaders and scholars in a multi-disciplinary dialogue, the Center develops the
next generation of knowledge and talent management. The Sloan Center on Aging &
Work is grateful for the continued support of the Alfred P. Sloan Foundation.
For more information, visit: http://agingandwork.bc.edu.
Generations United (GU)
Since 1986, GU has served as the country`s leader in educating policymakers and
the public about the economic, social, and personal imperatives of
intergenerational cooperation. GU is focused solely on encouraging
intergenerational strategies, programs, and public policies through education,
technical assistance, materials development, and the popular media. For more
information visit: http://www.gu.org/.
David DeLong & Associates
David DeLong & Associates is a research and consulting firm that helps
organizations solve performance and staffing problems caused by an aging
workforce, skills shortages, and increased mid-career turnover. Dr. David
DeLong, a research fellow at the MIT AgeLab and an adjunct professor at Babson
College, is the author of the widely-praised book Lost Knowledge: Confronting
the Threat of an Aging Workforce from Oxford University Press.
The MetLife Mature Market Institute
Established in 1997, the Mature Market Institute (MMI) is MetLife`s research
organization and a recognized thought leader on the multi-dimensional and
multi-generational issues of aging and longevity. MMI`s groundbreaking research,
gerontology expertise, national partnerships, and educational materials work to
expand the knowledge and choices for those in, approaching, or caring for those
in the mature market.
MMI supports MetLife`s long-standing commitment to identifying emerging issues
and innovative solutions for the challenges of life. MetLife, a subsidiary of
MetLife, Inc. (NYSE: MET), a leading provider of insurance, employee benefits
and financial services with operations throughout the United States and the
Latin American, Europe and Asia Pacific regions.
The full study, Engaging the 21st Century Multi-Generational Workforce,and the
accompanying tool kit are available at www.maturemarketinstitute.com under "New
Featured Study." For more information about the MetLife Mature Market Institute,
visit: www.maturemarketinstitute.com.
DJC Communications
Debra Caruso, 212-907-0051
debra@djccommunications.com
or
Boston College
Chad Minnich, 617-552-3122
minnicch@bc.edu
or
MetLife
Joseph Madden, 212-578-3021
jmadden@metlife.com
Copyright Business Wire 2009
