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Focus of managers constitutes a new center of gravity for human resources management operating in recessionary mode. It is highly likely that the landscape of talent management will be transformed, and there would be a shift in the composition of the workforce. Boomers and Gen Ys together will play a vital role in redening what constitutes a great place to work. In addition to detailing a vision of what the workplace should include to effectively retain Gen Y and Boomer talent the article provides this interesting portrait of each generation. Employer Of Choice? For an employer to be the employer of choice has to understand what their employee are looking for, due to change in environment Gen Ys and Boomers are looking for what we call a remixed set of rewards, at current times money is no more the prime motivator. Now companies have to tangle with the difcult task of redesigning incentives. Examples of initiatives undertaken in past: Deferral program: The initiative gave new hires the option of postponing their arrival for a year and devoting the interim period to community service or the acquisition of new skills. Snowbird Program: The initiative to let experienced store employees move seamlessly among CVS locations according to their seasonal preferences. Mentoring program: To raise employees awareness of digital media hence increasing desires for exibility, personal growth, and connectivity. Flexible work arrangements

How are Boomers and Gen Y alike? Odyssey: Take time out to explore passions, hobbies or volunteer work. Shared Vision and Values: Both groups have a sense of obligation to make a positive contribution to society. Achieving balance with flex and remote working: Work / life balance and working remotely are important to both groups. Mentoring and generation jumping: Gen Ys look to Boomers as mentors while Boomers like to take Gen Ys under their wings, despite the layers of corporate hierarchy. Kippers: Kids in Parents Pockets Eroding Retirement Savings. Child-parent bonds are very strong, with many Boomers providing financial support to their adult children. Rewards Remix: Other forms of pay are becoming important.

Portrait Of Gen Y To satisfy Gen Y employees as they become a large proportion of the labor pool, employer need to address what makes them tick. Here are ve facets of their inner workings. Ambition: 84% profess to be very ambitious. Loyalty vs. Quest: 45% expect to work for their current employer for their entire career. Multicultural Ease: 78% are comfortable working with people from different ethnicities and cultures. Healing the Planet: 86% say its important that their work make a positive impact on the world. Networking by Nature: 48% say having a network of friends at work is very important.

Portrait Of Baby Boomers To keep Baby Boomers happy as they age, employer need to address these ve dimensions of their work expectations and ethos. Staying in Harness: 42% projects they will continue working after age 65. Long Runways: 47% see themselves as being in the middle of their careers. From Me to We: 55% are members of external volunteer networks. Yearning for Flexibility: 87% say being able to work exibly is important. Familial Obligations: 71% report having elder care responsibilities.

Some Definitions Generation Veterans Baby Boomers (aka Boomers) Generation X Generation Y Generation Z (aka iGeneration) Generation Alpha? Years Born before 1947 Born 1948 1966 Born 1967 1979 Born 1980 1995 Born 1996 2011 Born 2012 2027?? In 2011 they are > 64 years old 45 63 years old 31 44 years old 15 30 years old 0 14 years old