Broad Demographics, Broader Needs

There are five generations in today’s workforce: some younger members of the Silent Generation, baby boomers, Generation X, millennials, and Generation Z.

The Alphas are on the horizon.

This mix of ages on the job can be good: executives in their late 50s and early 60s can mentor younger generations even as they begin to pull back from the daily grind, says Tom McMullen, senior client partner with Korn Ferry, a business consulting firm based in Los Angeles.

“Organizations need to think creatively about how they use the aging workforce,” he says. “They may be able to take on subject-matter-expertise roles, rather than operational leadership roles, which may be better for some high-potential junior folks. Employers need to figure out how to best deploy the expertise for some of that workforce that wants to keep working but maybe not in the legacy jobs that they have been in.”

The challenge with this broad age swath, though, is a divergent mix of views about work and the role it plays in employees’ lives. That includes what each generation expects from employers.

“Many organizations now have up to five generations working side by side, so it’s adding a lot of complexity to the mix,” says Renee Gorman, senior manager, executive of market analytics, at workforce consulting firm Allegis Global Solutions.

Managers should be trained to deal with the diverse needs of generational workers, though not necessarily by treating Gen Z differently than baby boomers, she says. Rather, managers can adjust their communication style for different groups’ preferences and ask questions about employees’ career needs and expectations for work-life balance instead of making assumptions.

Employees have always valued flexibility and empathy from their employers, but today’s workforce prioritizes those traits when choosing and staying at a company, Gorman says. The COVID-19 pandemic changed expectations around when and where people work and increased discussion around mental health. There is also a growing number of employees balancing caregiving for their children and parents.

Labor shortages demand that employers to pay more attention to workers’ expectations if they want to promote retention.

“Someone may be a new parent, and another may have social anxiety being back in the workplace,” Gorman says. “Another [employee] is raising teens and also dealing with elderly parents at the last point on their journey. Taking time off should not be held against them. Managers should know how to work with these generations and their needs. Either you are going to foster that or you’re not.”

Salary remains the primary lure to a job. In a 2025 survey of 802 employees and senior leaders across various industries, McLean found that 57% said money is their top priority when deciding to take a job (six times higher than the second-ranked priority, well-being).

Cash may be king, but companies trying to attract, engage, and retain employees with a 40-year age gap must be creative with benefits and perks. McMullen says companies are moving away from a one-size-fits-all or one-size-fits-no-one approach to benefits. Instead, employers are trying to personalize benefits.

“The suite of benefits people sign up for could look very different from a 50-year-old versus a 20-year-old,” he says.

Many companies can’t afford to provide hundreds of benefit options to meet the needs of all employees. Instead, McMullen says businesses study the expectations of everyone from a 50-year-old accountant to a 25-year-old administrative assistant to determine the optimal benefits. Younger generations may be looking for student loan assistance, tuition reimbursement, hybrid work schedules, and career development. Midcareer employees may want parental leave, fertility benefits, and professional development. Older workers will focus on retirement planning and caregiver support.

“The trend is less about replacing traditional benefits and more about allowing employees to choose from a broader menu of benefits that fit their circumstances,” Gorman says.

McMullen suggests companies investigate rewards programs that provide dollars or points employees can use to purchase items. Points could be based on anniversary dates, birthdays, or life events like having a baby. Employees could also receive rewards based on projects that enhance the company’s strategic focus. If a company has made a big push for customer engagement and someone makes headway, the business could offer cash payouts, office-wide events, and acknowledgement by executives. This type of program allows people flexibility to choose what they want—a younger employee might use the dollars for Uber rides, while someone nearing retirement could use it to bulk up their health savings account.

“Those [rewards programs] can be really important to people and have a relatively low investment,” he says. “A lot of time, these programs might only be a half a percent of the total payroll.”

McMullen points to employers that go the extra mile for their teams, from university tuition reimbursements to corporate sabbaticals. He highlights Starbucks, which was one of the first companies to offer stock to all employees, and Walmart, which pays for online college classes for workers.

“It’s doing something distinctive,” McMullen says. “You’ve done your market research to see what your people and applicants really value. Offer it and then yell that you’ve got this capability from the mountaintops.”