Many companies are busy conducting annual performance reviews with employees and although nobody will dispute the past year has been challenging and often stressful in many ways, younger and older workers have different thoughts about what would improve their current work-from-home situation.
According to a recent AARP Working at 50+ report, Baby Boomers who have been working remotely during the pandemic are more interested in getting a pay raise than their younger counterparts who are keen on improving technology with a work-at-home allowance for faster internet speeds and better equipment.
An American poll of 1,000 full-time remote employees found that although only 23 percent of boomers saw an income reduction in 2020, compared with half of Generation Z, 43 percent of Millennials and 49 percent of Gen Xers, they reported more interest in a pay raise for 2021. Why the disparity? Researchers believe that boomers, being more affluent, already have satisfactory home office technology but with an environment of job loss and salary freezes, they are most concerned with their retirement savings.
Although boomers may want to see their salary increase in 2021, nearly half said they are not optimistic about their chances for a raise in the coming year. The younger generations are more hopeful about seeing a pay bump in 2021.
Working from home could also suit Baby Boomers better than younger adults who may be struggling with school-aged children learning remotely, smaller living spaces or very little separation between personal and work life. Employees in the boomer generation are more likely to have grown(ish) children – most of whom have left the nest and a comfortable home. Boomers more frequently report enjoying the benefits of working from home; a flexible schedule, less office stress and no daily commute, all of which make the home-office a welcome change.
Although we may be in it together during the pandemic, all people are certainly not in the same boat and the experience of working from home varies widely depending on circumstances. Learn more about the Nintex Workplace 2021 Study by following this link to the company website where you can watch a recent webinar or download the full study.