Dive Brief:
- The latest Korn Ferry Futurestep survey is out, and it revealed some surprising facts about Baby Boomers and their desire to stay employed longer. In a post-recession job market, 54% of Baby Boomers say the opportunity to make a difference in the organization is an attractive factor that helps promote retention rates.
- 55% of Baby Boomers told Korn Ferry "that they are willing to work longer hours than other generations, and were considered the second most productive generation after Gen X." Only one-third of Baby Boomers said they ever needed feedback from a supervisor.
- Jeanne MacDonald, Futurestep President of Global Talent Acquisition Solutions, says that Baby Boomers are not primarily driven to stay employed by the money. They also tend to be very motivated, have a great deal of experience to share and they love what they do.
Dive Insight:
What can employers learn from the Korn Ferry study? First of all, it's a good idea to have a mix of different generations in every workplace, and baby boomers are no exception. They tend to be enthusiastic and take pride in their work. However, companies also need to find ways to harness the energy they bring to the work environment with mentoring programs designed to transfer industry knowledge.
In the meantime, giving Baby Boomers rewarding jobs and projects can help retain them for longer. Recruitment efforts can provide older workers with consulting roles that enable them to earn the respect of peers as their careers come to a close.
