Over-35 Workers: Top Six Motivators
As many of you know, I have spent the past several weeks discussing the GenZ and Under-35 talent dynamic. But let’s not forget the engine that still drives the train: the Over-35 talent pool.
In a report published on September 12, 2023, the 2023 Employee Satisfaction Report, we identified the top six motivators of the Over-35 worker, based on interviews with 1,327 candidates during the past year. Here they are:
Team success (30%): This did not surprise me. Most of my professional colleagues and personal friends tend to be very team-oriented.
As a card-carrying member of the Baby Boomer generation, I think it’s a fair statement that many of us grew up playing team sports – there was not much else to do after school!
Team success is valued the highest by the Over 35 worker as they tend to be more advanced in their careers, engaged in the office, and not working remotely compared with the younger workers.
They know from experience that to get things done as a team you have to be in the office. The facts are that older workers tend to be more extroverted and not as depressed or stressed as their younger counterparts. It is just how our society is developing and a sign of the times.
Younger workers are also more inwardly focused as they are busily developing their skill sets and expertise in order to professionally grow and find their own way in a new organization.
Financial Rewards (26%): Over-35 workers have more things to spend money on such as family, education for their children, travel, and housing. They also may be supporting elders or children (or grandchildren). All this requires money.
Older candidates also tend to use compensation as a critical measuring stick against their peers. Once someone reaches a certain level in an organization, things like professional development, mentoring, and a work culture start to take a backseat to making more money. At this point, it becomes more about performing than about learning.
Engaging Work (16%): Not as important as it is for a Gen Z worker, but still relatively important. We are all human beings in need of a purpose and a good reason for getting out of bed and going to work in the morning. Everyone needs purposeful engagement. Passion drives talent.
Professional Growth (13%): Still relatively important, although many candidates in this more mature category have already risen to the managerial level in their organizations and are not as much concerned about climbing the corporate ladder as their younger counterparts.
We received lots of feedback from the 55+ segment and I was surprised to hear just how many in this group are still super-charged about their careers and still want to grow although their desire is to try new things rather to get to the top of the organization.
Work Culture (8%): The importance of work culture is mentioned, but not a high priority, by this age segment.
Many are now seeking position, money, and status as they get 15+ years of experience under their belts. There are exceptions (8%), but working hard back in the day was something that was just expected without a lot of feedback and recognition. You either did your job, or you were replaced. Simple stuff.
Communications & Feedback (7%): Many in this group are doing the communicating to their younger direct reports so this is not as important as with their younger counterparts. That said, clear and consistent communications up and down the chain of command is one of the keys to retaining top talent.
Here are some surprising motivators that did not make the list?
- Monetary incentives
- Year-end bonuses
- Customer impact
- Technology
- Company longevity & security
- Company brand name recognition
- Community involvement (I was surprised at this)
I welcome your thoughts and ideas on this report. I was surprised at the response rate from those receiving the report in September and it demonstrates just how interested people are in understanding the motivations of these two very different generational groups.
Rob Houghton
