Generation X is the second largest generation in the workforce today, but they can be easily overlooked in favor of the much-larger Baby Boomer and Millennial generations on either side. This would be a mistake, however – yesterday's "slackers" are the driving force behind today's companies and are the most committed and engaged at work. But with all the information and facts available, we wanted to help you narrow your focus by giving you five facts and tips to keep in mind when thinking about your generation X employees.
Five Fast Facts about Gen X:
• This is the "sandwich" generation, known for supporting and educating their children while also providing care for their aging parents.
• They spend seven hours a week on social media (more than Millennials, who spend six hours).
• When they feel their job is not "just a job" but has special meaning, Gen Xers are seven times more likely to look forward to coming to work.
• 51 percent of Gen Xers don't have enough emergency savings for unexpected expenses and 50 percent find it difficult to meet household expenses on time each month.
• Gen Xers are more willing to change jobs to get ahead than previous generations.
Gen Xers tend to fly low on the radar when it comes to cultural discussion and media coverage, but in today's workforce, they are the engine room that powers your business. Understanding what motivates them allows you to structure benefits and develop programs that keep them at the heart of the company.
Five benefits topping the Generation X wish list are childcare, flexibility (in working location and hours), financial protection and education, wellbeing support and dental insurance (for routine care and orthodontics).
Based on what we know about this "latchkey" generation, here are five best practice tips for communicating your benefits program:
• Reach them through interactive online communications, YouTube and email
• Provide retirement readiness websites that allow them to input other investment information
• Supply user-friendly online resources that can be accessed on demand to fit their busy schedules, as well as the ability to do their own research and receive feedback on
their progress
• Give access to on-demand, one-on-one professional assistance used in conjunction with web-based tools
• Provide education on the time value of money and the importance of rollovers when changing jobs
Download our Guide to Generation X: Working with Them and Engaging Them or more insights into Gen Xers