What is My Worth to the Organization?

With multiple generations in the workforce, this question has put the HR/Compensation professional in a position to accommodate the diverse pay and benefits needs of at least four generations of employees.  The baby boomers (known as the “Me” Generation) are still working as they are holding out to age 65 to 70 to maximize on their social security retirement and other company retirement plans. They know that their working time is almost over and just don’t want to be put out on the street prematurely.  Some are even willing to give up some of their base compensation to stay employed.  The Generation X employees (known as the “Latch-Key” Generation) are entrepreneurs and individualists that expect to be paid what they are worth.  If not, they don’t hesitate to leave.  The Xers will average seven career changes over their work life and aren’t committed to one company employer as previous generations were.