| Managing and retaining employees is becoming increasingly difficult as the workforce becomes more diverse. Commitment levels, employee satisfaction, and motivational factors of the three generations that comprise the majority of the current workforce were examined. A mixed quantitative comparative methodology addressing Baby Boomers, Generation X, and Generation Y employees in the financial services industry were surveyed to examine differences among the generations regarding these factors. The results were analyzed through ANOVA and regression analysis to determine what, if any, significant differences exist. Numerous differences and relationships were found to exist among the three generations in the current workforce. Additionally managers were interviewed regarding their experiences of managing age diversity. Common themes from the responses were used to help determine if management styles and company cultures are associated with differences in addressing the generations. Similarities were discovered between the quantitative and qualitative results of the study. The conclusions are expected to assist managers successfully manage employees regardless of the generation to which they belong. |
