Generational Overviews Understanding the generations that make up the current workforce is critical for choosing the right benefits to offer. Employers should have a general idea of the generations that comprise their own organizations so they have a better sense of what might appeal to their workers. However, keep in mind that an individual’s age doesn’t necessarily predict what benefits they’d be interested in—generational age bands aren’t an exact science. Instead, knowing this generational information can help inform a starting point for employers. To that end, this section offers a demographical overview of each generation— contextualizing the motivations of each. The Silent Generation (1928-1945) This generation, also known as traditionalists, came of age during World War II, a time of great austerity and discipline. Many of these individuals come from nuclear families and have worked for the same employer for decades, making them very loyal. However, many have left or are planning to leave the workforce in the coming years. Key characteristics: Disciplined | Loyal workers | Entering retirement Workforce composition: ~1% Preferred benefits: Formal employee recognition programs | Traditional core benefits | Retirement benefits Baby Boomers (1946-1964) This generation is often referred to as “the hardest-working generation,” implying their work-life balances may be skewed more toward work. Baby boomers were hit hard by the 2008 recession, and many are stuck working longer in life than they anticipated. This generation is also caring for their aging family members, further extending the retirement goal posts. Key characteristics: Strong work ethic | Experienced| Eyeing retirement Workforce composition: ~19% Preferred benefits: Caregiving benefits | Comprehensive health care plans | Workplace flexibility | Retirement benefits | Ongoing training opportunities 5