Vistage Research Center

Get actionable, data-driven insights and expert perspectives from our global community of CEOs and thought leaders. Led by Joe Galvin, Chief Research Officer

15 culture factors key to recruiting a multigenerational workforce

Is a vibrant company culture only about giving all the right feels, or can it boost the bottom line?

“Companies with a strong mission and purpose outperformed the S&P 500 by 8-fold over a 20 year period,” says Deloitte/Bersin in their 2018 report, “The Rise of the Individual in the Future of Work.” These companies, they say, have “soul.” Who would have thought, until now, that we’d think of a company as having a soul and what does that mean?

I would venture to say that in these companies every employee matters in a culture that values purpose, passion, character, collaboration and respect for the individual. Coincidentally, that’s exactly what employees say they want, and more.

A company is, after all, a collection of individuals—and always has been. We just haven’t recognized it before. Historically, mandates came down from above along with rules about even the smallest of things, like the classic example of IBM not allowing anything but white shirts for men.

Today’s young workers demand something entirely different; they want their individual needs, growth, and interests addressed and they’ll use their power in the marketplace to force change. Older employees are jumping on this bandwagon too. Companies that want to attract and retain the best people need to become more like the best companies.

The road to becoming one of the best begins with a deep look inside the walls of your company as well as into the wider world to understand what engages employees and what concerns them. Making the necessary changes to meet today’s workplace expectations will increase your financial outcomes. Ignoring them could mean a hit to your reputation on social media by a single unhappy individual, whether candidate, employee, or customer.

How does your company culture rate on 15 major factors?

With the individual becoming paramount, companies need to navigate a range of employee needs and expectations to identify ways they can offer employees customized experiences. As you look into your company’s soul, rate your culture on these factors to better understand where you are now and where you need to be.

Following is a list of the major things today’s multigenerational workforce says they pay attention to when deciding where to work or whether they’ll stay.

      1. Purpose and mission
      2. Recognition-rich culture and strong values
      3. Meaningful work and the autonomy to do it
      4. A flexible, healthy, and humane work environment that’s diverse, inclusive, and collaborative
      5. Trusted and inspirational leadership developed through transparency, communication, and investment in people
      6. Hands-on management committed to goal setting; coaching and frequent feedback; and professional and leadership development
      7. Re-skilling and up-skilling opportunities and a say in defining their own development plans
      8. Freedom and space to explore and innovate
      9. Project/team orientation rather than hierarchy
      10. Work assigned based on expertise rather than job descriptions and titles
      11. Respect as an individual rather than treated as a resource
      12. Regular check-ins and feedback in all directions
      13. Frequent review of compensation
      14. Use of data to measure performance
      15. Work-life balance

If you figure all of this out and apply it in your own unique way, and it’s a lot to consider, you can transform your company into a “simply irresistible organization” and crush your competition.

The corporate ladder is now a swing

Employees used to climb the corporate ladder, usually over decades of employment with the same company, before retiring with a pension and gold watch. Today, the median tenure is 4.2 years (less for younger generations), as people swing from job to job looking for a better work environment—or just because they can in this fierce talent market.

As Bersin puts it: “Individuals are telling employers, ‘I’m not going to take it anymore.’” What they can’t take may be what you offer. Take an honest look at your culture and values; listen to your employees; and shift your thinking to our new reality, individualism. Repeat this process annually and all boats will rise.

Related content

The new recruiting paradigm: 6 tactics for winning great talent (on-demand webinar)

Print Friendly, PDF & Email

Leave a Reply

Your email address will not be published. Required fields are marked *

Predefined Skins

Primary Color

Background Color

Example Patterns

demo demo demo demo demo demo demo demo demo demo

Privacy Policy Settings

  • Required Cookies
  • Performance Cookies
  • Functional Cookies
  • Advertising Cookies
Required Cookies These cookies are essential in order to enable you to move around the Sites and use its features, such as accessing secure areas of the Sites and using Vistage’s Services. Since these cookies are essential to operate Vistage’s Sites and Services, there is no option to opt out of these cookies.
Performance Cookies These cookies collect information about how visitors our Sites, for instance which pages visitors go to most often. These cookies don’t collect information that identifies a visitor. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies we will not know when you have visited our site, and will not be able to monitor its performance.

Cookies used

Visual Web Optimizer
Functional Cookies These cookies remember information you have entered or choices you make (e.g. as your username, language, or your region), and provide enhanced, more personal features. They may also be used to provide services you have asked for such as watching a video or commenting on a blog. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies then some or all of these services may not function properly.

Cookies used

Google Analytics
Gravity Forms
Advertising Cookies These cookies are used to make advertising more relevant to you and your interests. The cookies are usually placed by third party advertising networks. They remember the websites you visit and that information is shared with other parties such as advertisers. If you do not allow these cookies, you will experience less targeted advertising.