Employee Motivation: Effective Incentives Targeted at Keeping the Baby Boomers in the Workplace beyond Normal Retirement Age

The impending mass retirement of the Baby Boom generation in the United States may cause a drastic talent drain. Companies should pay attention to this upcoming problem now to alleviate an exodus by encouraging Baby Boomers to continue working past their normal retirement age. One solution is to offer them effective incentives. The most compelling incentives for Baby Boomers are the ability to choose their own hours (how many hours they wish to work, and when they wish to work them), the ability to telecommute from wherever they choose, and the offer of extra health care benefits.

Technology Attracts the Millennial Workforce

The Millennial generation is the largest generation to enter into the workforce. They are entering while older generations are still working. Previous generations in the workforce include Traditionalists, Baby Boomers, and Gen X. Millennials' have different expectations from past generations, particularly since they were born using technology as part of their daily lives. The recruiting approach to attract Millennials needs to be different from old traditional methods. Employers must recruit creatively by connecting to Millennials through Internet and technological tools all hours of the day. The use of social networks, virtual job fairs, and email campaigns are just a few ways to recruit the Millennials since they are the future of employment.