Wednesday, February 22, 2006

Wisconsin Issues Workforce Report on Generational Motivation

In an article for the La Crosse Tribune, Steve Cahalan writes that a new report shows that Wisconsin area employers need to be aware of differences between the four generations i the workplace and find ways to motivate them. The 2005 State of the Workforce Report was released by the Western Wisconsin Workforce Development Board following a survey of 1,570 employees in late 2005. "Members of Generations X and Y tend to be more motivated by flexible hours, co-workers, training opportunities and promotional opportunities, according to the report. Baby boomers and traditionalists tend to be motivated by wages and benefits, it said."
Employees’ retirement plans include working part time for interest or fun, working part time for income, starting their own business or volunteering, the report said. A majority of employees would like to retire by age 55 but do not think they will be financially able to retire until after age 65, it said.
According to the report, labor shortages are expected to occur as baby boomers retire. These workforce challenges will begin about 2008 and peak in 2020.

Source: "Report: Various generations are motivated by different factors at work" La Crosse Tribune (February 21, 2006)

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